AGL 38.41 Increased By ▲ 0.26 (0.68%)
AIRLINK 129.20 Increased By ▲ 4.13 (3.3%)
BOP 7.34 Increased By ▲ 0.49 (7.15%)
CNERGY 4.54 Increased By ▲ 0.09 (2.02%)
DCL 8.20 Increased By ▲ 0.29 (3.67%)
DFML 38.66 Increased By ▲ 1.32 (3.54%)
DGKC 80.20 Increased By ▲ 2.43 (3.12%)
FCCL 32.10 Increased By ▲ 1.52 (4.97%)
FFBL 73.10 Increased By ▲ 4.24 (6.16%)
FFL 12.30 Increased By ▲ 0.44 (3.71%)
HUBC 110.01 Increased By ▲ 5.51 (5.27%)
HUMNL 13.90 Increased By ▲ 0.41 (3.04%)
KEL 5.01 Increased By ▲ 0.36 (7.74%)
KOSM 7.45 Increased By ▲ 0.28 (3.91%)
MLCF 37.80 Increased By ▲ 1.36 (3.73%)
NBP 70.60 Increased By ▲ 4.68 (7.1%)
OGDC 188.71 Increased By ▲ 9.18 (5.11%)
PAEL 25.10 Increased By ▲ 0.67 (2.74%)
PIBTL 7.32 Increased By ▲ 0.17 (2.38%)
PPL 151.80 Increased By ▲ 8.10 (5.64%)
PRL 25.02 Increased By ▲ 0.70 (2.88%)
PTC 17.20 Increased By ▲ 0.80 (4.88%)
SEARL 81.70 Increased By ▲ 3.13 (3.98%)
TELE 7.51 Increased By ▲ 0.29 (4.02%)
TOMCL 32.98 Increased By ▲ 1.01 (3.16%)
TPLP 8.45 Increased By ▲ 0.32 (3.94%)
TREET 16.59 Increased By ▲ 0.46 (2.85%)
TRG 56.51 Increased By ▲ 1.85 (3.38%)
UNITY 27.97 Increased By ▲ 0.47 (1.71%)
WTL 1.36 Increased By ▲ 0.07 (5.43%)
BR100 10,474 Increased By 384.6 (3.81%)
BR30 30,967 Increased By 1457.8 (4.94%)
KSE100 97,877 Increased By 3303.1 (3.49%)
KSE30 30,527 Increased By 1082.5 (3.68%)

The African Development Bank said on Saturday it had approved a $100 million loan to develop a bauxite mine in northwest Guinea, as the West African country works to treble output by 2020. The money will help construct a new mine operated by Guinea Alumina Corporation, a subsidiary of Dubai-based Emirates Global Aluminum, by 2020 with annual production capacity of 12 million tonnes of bauxite, the Bank said in a statement.
It will also finance a new container terminal in the port city of Kamsar and the refurbishment of a 143-km (89-mile) railway to the port from the mine in the town of Boke, it said.
Guinea has about a third of the world's bauxite reserves, which are refined and smelted to make aluminium. But annual production has lingered below 20 million tonnes for years, largely due to political instability.
Operations at mines around Boke have been interrupted this year by riots in which protesters complained that the nation's mineral wealth had not brought enough jobs or eased poverty.
However, the government expects bauxite output to rise to over 30 million tonnes this year and is targeting 60 million tonnes by 2020.

Comments

Comments are closed.