IMF: Guinea's bauxite business to attract $6.5 billion investment in 2017-2020
The International Monetary Fund (IMF) forecasted that the bauxite mining and alumina plant construction in Guinea will attract the investments value around US$6.5 billion during the period from 2017 to 2020.
According to the forecast, the demand for bauxite in the global market will increase at an annual rate of 5% averagely in the medium term.
Guinea has abundant mineral resources, of which the proved reserves of bauxite are approximately 25 billion tons, accounting for around 33% of the total proven reserves in the world.
