Guinea bauxite is proving resilient (Jeune Afrique)
Posted on 3 Feb 2016 – Source: Jeune Afrique
In a context of mineral crisis, the country which holds the first world reserves, benefits from the increase in Chinese demand.
Whereas almost all minerals prices are their lowest levels, the price of bauxite, which is sold over the counter, remains at high levels, above 55 dollars per ton since 2014. And it happens although the price of aluminum – produced from bauxite – has plunged 17.8% in the last twelve months.
Guinea benefits from the increase in Chinese demand – Jeune Afrique
Holding 25 billion tons of bauxite (half of the known world reserves), Guinea pulls out of the game, taking advantage of China’s needs, where the aluminum plants are at full capacity (…).