Why Guinean Military Leader Ordered Foreign Companies to Share Company Profits
Guinea’s military leader, Colonel Mamady Doumbouya, has told foreign mining companies in the country that their profits would be shared with the government equally.
Yes, and that’s not all. Doumbouya also gave the companies until the end of May to submit proposals for the construction of refineries in the country. The military chief insists that the on-site processing of minerals “is becoming unavoidable, it is imperative and without delay”.
What refineries are they to construct?
Bauxite refineries. Aside having the world’s largest reserves of the mineral, which is used in the manufacture of aluminum, Guinea is the second-largest producer of bauxite. But despite its abundance of bauxite, and other minerals, Guinea has had to deal with the challenge of inequality.
Doumbouya said previous agreements between the Guinean government and different groups stipulated that refining would take place locally, but those promises had gone unfulfilled. The failure to respect the conventions was a “cause of nullity” and their application was “non-negotiable” for the government, he said.