The junta-backed government of Guinea has signed a seven-billion-dollar (4.5-billion-euro) mining and oil partnership deal with the China International Fund (CIF), Guinea's mining minister said Thursday. "We have signed Saturday with the China International Fund and Sonangol" the Angolan oil company which is a CIF partner, Mining Minister Mahmoud Thiam -joined by phone from Dakar- told AFP.
While the majority of Guineans live in abject poverty, the west African country has vast mineral resources. It is the world's biggest exporter of bauxite, used to make aluminium, and has important iron, gold and uranium reserves. "There will be investments in infrastructure projects in the country of between seven billion and nine billion dollars in the next five years depending on the size of the projects," Thiam explained. The projects could include hydroelectric dams, roads, railways, social housing, power plants, water infrastructure, schools and hospitals he said.
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