Production from mines in Guinea, the world’s biggest exporter of bauxite rose in the nine months of 2010 to September as political stability increased demand for metals from the West African nation.
Guinea finance ministry said that output of bauxite, the ore used in aluminum, rose 15% to 12 million tonne. Gold production climbed 67% to 603,000 ounces and alumina rose to 564,000 tonnes from 393,000 in the same period of 2009.
The statement said that the increase is due partially to the resumption of world demand and the calm political climate.
It said that diamond output slowed 60 percent to 200,000 carats, the ministry said without giving a reason for the decline.
Guinea held its first democratic transfer of power in 2010, with long-time opposition leader and former university professor Alpha Conde winning a run-off election in November. He was sworn into office Dec. 21, pledging economic and political stability.
According to the US state department, Guinea holds as much as half of the world’s reserves of bauxite, more than 4 billion tonnes of high grade iron ore and significant deposits of diamonds and gold. Companies including Rio Tinto Group, Brazil’s Vale SA and Johannesburg based AngloGold Ashanti Ltd. operate in the West African nation.
（Sourced from Bloomberg）
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