Guinea alumina production in H1 up by 39pct
Post Date: 29 Aug 2011 Viewed: 544
Reuters reported that Guinea's production of alumina, a derivative of bauxite used to produce aluminum rose 38.6% in the H1 of the year compared with the same period a year ago.
According to the Ministry of Finance report, alumina production for the year hit 315,600 tonnes by June. Bauxite production rose 6 percent to 8,266,900 tonnes in the same period, exceeding its target by 1%.
Mr Emmanuel Sassouadouno senior official at the Ministry of Finance said that the rise in production was due to the country's return to stability and investor confidence. We noticed the same trend in the diamond sector and relatively in the bauxite sector also.
Guinea last year elected Alpha Conde as its president, ending two turbulent years of military rule. Diamond production also jumped 41% to 202,900 carats while gold production fell 15.2% to 372,600 ounces in the period.
Mr Sassouadouno said that the country would remain cautious about forecasts for the months ahead due to the sharply deteriorating global economic climate.