The mining industry of Guinea was developed during colonial rule. The minerals extracted consisted of iron, gold, diamond, and bauxite.[1] Guinea ranks first in the world in bauxite reserves and 6th in the extraction of high-grade bauxite, the aluminium ore.[2][3][4] The mining industry and exports of mining products accounted for 17% of Guinea's gross domestic product (GDP) in 2010. Mining accounts for over 50% of its exports.[5] The country accounts for 94% of Africa's mining production of bauxite.[6] The large mineral reserve, which has mostly remained untapped, is of immense interest for international firms.[7]
In recent years, the mining industry in Guinea has suffered from controversy, specifically with respect to the iron ore mining industry and the block of mines in Northern Guinea.[8]
In 2019, the country was the world's 3rd largest producer of bauxite. [9] In 2023, Guinea became the top source of bauxite for China.[10]
- ^ Soumah 2009, p. 11.
- ^ KPMG Global Mining Institute 2014, p. 18.
- ^ "One dead in Guinea protest, mine trains stop". Mines and Communities. Reuters. 1 November 2005. Retrieved 25 May 2015.
- ^ KPMG Global Mining Institute 2014, p. 2-3.
- ^ "Guinea". Natural Resource Governance Institute. 2015-04-23. Retrieved 2017-03-09.
- ^ "Mining in Guinea-Overview". mbendi.com. Archived from the original on 8 March 2017. Retrieved 25 May 2015.
- ^ KPMG Global Mining Institute 2014, p. 17.
- ^ "Crying foul in Guinea". The Economist. Retrieved 2017-03-09.
- ^ USGS Bauxite Production Statistics
- ^ Chambers, Sam (24 May 2024). "Guinea replaces Brazil on the cape podium". Retrieved 24 May 2024.