Guinea Overview
Guinea’s landscape is naturally blessed – hence the bottomless love Guineans have for their country. Guineans are proud of their nationality and have stood together through difficult decades.
Guinea has one of the world’s largest reserves of bauxite; the ore that, twice refined, makes aluminium. Guinea's mineral wealth makes it potentially one of Africa's richest countries.
Economic hope for Guinea and it’s people comes from companies like Anglo-African Minerals plc who present an unprecedented opportunity for economic development in Guinea. It is widely believed that the extraction of natural resources, rather than foreign aid, offers the greatest chance of economic progress for Guinea.
Guinea has the most bauxite reserves in the world with 7.4 billion metric tons, representing 24.8% of the global supply. Australia, Vietnam, Brazil, and Jamaica follow Guinea with 6.0 billion, 3.7 billion, 2.6 billion, and 2.0 billion metric tons, respectively. In aggregate, the top five countries account for 72.7% of the world’s total reserves, as depicted in the chart (left) and the map (below).
Quick Facts
- Peaceful since Independence (1958) – only country in region to have avoided civil war.
- Election of Civilian Government Nov. 2010 – peaceful and transparent.
- New Mining Code in place since 2011
- Legislative election and constitution of a Parliament – peaceful and transparent.
- Offers a range of guarantees and tax incentives to new investors.
- Foreign investors can own up to 90% of any new venture in Guinea.
- Numerous international mining companies operating in-country.
- Mining sector contributes 25% of national income: Dominated by bauxite = 20% of GDP and 90% of exports.
Guinea Information
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Full name: The Republic of Guinea
- Population: 10.62 million (UN, 2014)
- Capital: Conakry
- Area: 245,857 sq km (94,926 sq miles)
- Major languages: French, Susu, Fulani, Mandingo
- Major religions: Islam, Christianity, indigenous beliefs
- Monetary unit: 1 Guinean franc = 100 centimes
- Main exports: Bauxite, alumina, gold, diamonds, coffee, fish, agricultural products
- GNI per capita: US $430 (World Bank, 2011)
- International dialling code: +224
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