Crisis at the Compagnie des Bauxites de Guinée : towards the appointment of a new Chief Executive Officer

The Compagnie des Bauxites de Guinée is about to appoint an acting CEO within the next few days, possibly even the next few hours, after the resignation of Souleymane TRAORE in April 2024. As a reminder, TRAORE resigned under pressure from the Guinean government, leaving the company without leadership. This situation has sparked concern among both the employees of the company and observers of the country's mining sector.

Forced resignation of former CEO

According to reliable sources, the Guinean government intended to appoint the former Minister of Mines, Moussa Magassouba, to head CBG. This attempted political appointment failed, hence, leading directly to the forced resignation of Souleymane Traoré. The power struggle between the Guinean ruling military junta and the management of CBG resulted in the post of CEO remaining vacant for several weeks. This is a "big first" in the history of the company.

In response to this crisis, the CBG Board of Directors decided to appoint an acting CEO from within the company. This choice is intended to ensure continuity of operations and stabilize the company until a more permanent solution is found.

Concern of the CBG workers' union

The CBG workers' union has voiced its concern regarding the situation. In a letter addressed to the current Minister of Mines, the workers' union underlined the urgency of appointing a new CEO to ensure the smooth running of the company's activities. The workers fear that the absence of leadership could undermine CBG's performance and jeopardize jobs.

CBG is one of the major mining companies in Guinea, specializing in bauxite extract and export. Established in 1963, CBG operates as a joint venture between the Guinean government and international corporations, including Alcoa, Rio Tinto, and Dadco. CBG operates mainly in mineral-rich Boké region.

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