China to loan Guinea $20 bln to secure aluminium ore
Published on: Wednesday 06 September 2017
China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminium which the West African country has in abundance, the mines minister said. The projects guaranteed by the loan included China Power Investment Corp's (CPI) planned alumina refinery and Aluminium Corp of China's (Chalco) bauxite mine and another bauxite project by China Henan International Cooperation Group, all of them in the northwestern town of Boffa.
