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Miner Alufer to produce 5 million tonnes of bauxite in 2017

"Alufer will produce 5 million tonnes of bauxite from 2017 for an estimated cost of $140 million," said mines and geology minister Abdoulaye Magassouba at an event marking the signing of a convention between Guinea and Alufer.

Guinea miner Alufer to produce 5 million tonnes of bauxite in 2017

Guinea-focused bauxite miner Alufer will produce 5 million tonnes of bauxite next year, the mines minister said on Monday, potentially boosting Guinea's output by more than a quarter.

Guinea holds nearly a third of the world's reserves of bauxite, the metal used to make aluminium, and currently produces around 18 million tonnes. Some mining investment has been held up due to a global commodity price slump.

"Alufer will produce 5 million tonnes of bauxite from 2017 for an estimated cost of $140 million," said mines and geology minister Abdoulaye Magassouba at an event marking the signing of a convention between Guinea and Alufer.

The independent miner, whose main Bel Air open-pit mine is located near the West African country's Atlantic coast, is set to eventually ramp up production to 10 million tonnes, Magassouba added.

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Bauxite production at the site was originally due to begin this year but was held up due to contract negotiations. Alufer also has a mining permit in the Labe District in the centre of the country.

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