Compagnie des Bauxites de Guinée (CBG) intends to comply with the injunctions of the President of the transition regarding the transformation of mining resources in Guinea. Colonel Mamadi Doumbouya, has ordered ten mining companies to comply with their basic agreements by building alumina refineries.

The CBG, which obtained its basic convention in 1963, wants to respect these directives of the President of the Transition. This Wednesday, April 20, 2022, the company held in Conakry, an extraordinary session of its board of directors. This meeting chaired by the Minister of Mines and Geology, was an opportunity to discuss the issue.

No new elements

"It is an extraordinary board of directors meeting based solely on the project to build a refinery in the Republic of Guinea by the CBG, which is the primary objective of this meeting.  You recently heard the President of the Republic, Colonel Mamadi Doumbouya, ask ten mining companies involved in the bauxite sector to respect their commitments. The Head of State did not ask for any new elements. He asked these mining companies to respect their basic conventions. In these basic conventions, it is stated that each of these ten companies has the responsibility to build an alumina refinery," said Moussa Magassouba.

With 7.4 billion tons untapped, Guinea has the world's largest reserve of bauxite, but the country is content with exploitation and export. A practice that does not allow Guineans to fully benefit from the outcome of this mining resource.

"Despite the mining boom in the bauxite sector, it is clear that the expected revenues are below expectations, you and we can no longer continue this game of fools that perpetuates a great inequality in our relations," said the President of the transition during a meeting with heads of mining companies