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Economy Of Guinea
The economy of Guinea is dependent largely on agriculture and other rural activities. Guinea is richly endowed with minerals, possessing an estimated quarter of the world's proven reserves of bauxite, more than of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium. In 2021, Guinea was the world's biggest exporter of Aluminium Ore ($3.2B/ Gold $5.5B) 2021 trade surplus was $4.3B. Guinea also has considerable potential for growth in the agricultural and fishing sectors. Land, water, and climatic conditions provide opportunities for large-scale irrigated farming and agroindustry. Remittances from Guineans living and working abroad and coffee exports account for the rest of Guinea's foreign exchanges industry. Economic history Guinea was part of the franc zone countries that included most of the former French Colonies. After Independence, these countries did not become completely economical free. France decided against monetary auton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conakry
Conakry ( , ; ; ; ) is the Capital city, capital and largest city of Guinea. A port city, it serves as the economic, financial and cultural centre of Guinea. Its population as of the 2014 Guinea census was 1,660,973. The current population of Conakry is difficult to ascertain, although the U.S. Department of State's Bureau of African Affairs has estimated it at two million, accounting for one-sixth of the entire population of the country. History Conakry was originally settled on the small Tombo Island and later spread to the neighboring Kaloum Peninsula, a stretch of land wide. The city was essentially founded after Britain ceded the island to France in 1887. In 1885, the two island villages of Conakry and Boubinet had fewer than 500 inhabitants. Conakry became the capital of French Guinea in 1904, and prospered as an export port, particularly after a railway (now closed) to Kankan opened up the interior of the country for the large-scale export of peanut, groundnut. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compagnie Des Bauxites De Guinée
Compagnie des bauxites de Guinée (CBG) is a Guinean mining company. Since 1963 it has extracted bauxite from the notable mine in Sangarédi, in Boké Region in Guinea. It is 49% owned by the Guinean State, with the remainder owned by the Boké Investment Company, a 100%-owned subsidiary of Halco Mining, a consortium opened in 1962 by Harvey Aluminum Company to run mining operations in Guinea. Halco's stock is owned by Alcoa (45%), Rio Tinto Alcan (45%) and Dadco Investments (10%). Guinea is the world's 5th largest producer of bauxite, yet the country holds the world's largest reserves of the valuable ore used to produce aluminum. Estimates of the country's reserves rise as high as 25 billion tons, or the majority of the world's bauxite. Bauxite mining in Guinea Guinea possesses a third of the best bauxite reserves in the world, or about 20 billion tons, with a high content (45-62 %) of alumina and a low silica content (0.8-2 %). Despite being ranked second after Australia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alcoa
Alcoa Corporation (an acronym for "Aluminum Company of America") is an American industrial corporation. It is the world's eighth-largest producer of aluminum. Alcoa conducts operations in 10 countries. Alcoa is a major producer of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining, smelting, fabricating, and recycling. Alcoa emerged in 1888 as the brainchild of Charles Martin Hall, with the funding of Alfred E. Hunt and Arthur Vining Davis. Alcoa was the first mass producer of aluminum. Before Alcoa's formation, aluminum was difficult to refine and, as a result, was more expensive than silver or gold. In 1886, Hall discovered the Hall–Héroult process, the first inexpensive technique for refining aluminum, drastically reducing the price of aluminum while increasing its availability. Hall approached Hunt and Davis to form a company to bring his process to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alcan
Alcan was a Canadian mining company and aluminum manufacturer. It was founded in 1902 as the Northern Aluminum Company, renamed Aluminum Company of Canada in 1925, and Alcan Aluminum in 1966. It took the name Alcan Incorporated in 2001. During that time, it grew to become one of the world's largest aluminum manufacturers. Alcan was purchased by Australian-British multinational Rio Tinto for $38 billion in 2007, becoming Rio Tinto Alcan Inc. in 2008. It was headquartered in Montreal, in its Maison Alcan complex. History The Northern Aluminum Company was founded in 1902 in Shawinigan, Quebec, as part of the Pittsburgh Reduction Company. In 1913, the company opened a kitchen utensil production plant and foundry in Toronto. It added a rolling mill in the plant a few years later. During World War I (1914–18), aluminum production increased to 131,000 tonnes from 69,000. In 1925, the company was renamed the Aluminum Company of Canada. It was responsible for rapid development i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guinean Presidential Election, 2010
Presidential elections were held in Guinea in 2010. They were held under the two-round system, with the first round taking place on 27 June 2010 and the second round on 7 November, after an initial date of 18 July and several other postponements. Alpha Condé was declared the winner, with 52.52% of the votes in the second round. He assumed office on 21 December 2010. The elections came after a coup in 2008 and the attempted assassination of the junta leader Moussa Dadis Camara in December 2009. There were months of tension and unrest during the electoral process, in which the two main candidates represented the two largest ethnic groups in Guinea: the Fula (; ) and the Maninka (Malinke). The elections were also the first free national election held in Guinea since it gained independence in 1958. Background The election was originally scheduled to be held on 13 December 2009 (with a second round, if necessary, held on 27 December 2009) following the 2008 G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China International Fund
China International Fund (CIF) is a Chinese-owned group of Hong Kong investors that describes its major businesses as including "large-scale national reconstruction projects and infrastructure construction in developing countries". The CIF and its associated companies in Hong Kong and Singapore invested upwards of $US 20 billion mainly in unstable African dictatorships. They have made agreements with the Angolan and Guinean governments to explore for various resources in those countries. These agreements will result in billions of dollars of money being invested in the two countries. The Company is under the suspicion of being a state-owned company because "key personnel have ties to Chinese state-owned enterprises and government agencies." Structure The United States-China Economic and Security Review Commission issued a report in July 2009 on investments of Dayuan, CIF and its subsidiaries in Africa, Latin America and the U.S.A.. China International Fund is owned to 99% by Day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senegal River
The Senegal River ( or "Senegal" - compound of the Serer term "Seen" or "Sene" or "Sen" (from Roog Seen, Supreme Deity in Serer religion) and "O Gal" (meaning "body of water")); , , , ) is a river in West Africa; much of its length marks part of the border between Senegal and Mauritania. It has a drainage basin of , a mean flow of , and an annual discharge of . Important tributaries are the Falémé River, Karakoro River, and the Gorgol River. The river divides into two branches once it passes Kaédi. The left branch, called the Doué, runs parallel to the main river to the north. After the two branches rejoin a few kilometers downstream of Podor. In 1972 Mali, Mauritania and Senegal founded the Organisation pour la mise en valeur du fleuve Sénégal (OMVS) to manage the river basin. Guinea joined in 2005. , only very limited use was made of the river for the transportation of goods and passengers. The OMVS have looked at the feasibility of creating a navigable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sub-Saharan Africa
Sub-Saharan Africa is the area and regions of the continent of Africa that lie south of the Sahara. These include Central Africa, East Africa, Southern Africa, and West Africa. Geopolitically, in addition to the list of sovereign states and dependent territories in Africa, African countries and territories that are situated fully in that specified region, the term may also include polities that only have part of their territory located in that region, per the definition of the United Nations geoscheme for Africa, United Nations (UN). This is considered a non-standardised geographical region with the number of countries included varying from 46 to 48 depending on the organisation describing the region (e.g. United Nations, UN, World Health Organization, WHO, World Bank, etc.). The Regions of the African Union, African Union (AU) uses a different regional breakdown, recognising all 55 member states on the continent—grouping them into five distinct and standard regions. The te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency Depreciation
Currency depreciation is the loss of value of a country's currency with respect to one or more foreign reference currencies, typically in a floating exchange rate system in which no official currency value is maintained. Currency appreciation in the same context is an increase in the value of the currency. Short-term changes in the value of a currency are reflected in changes in the exchange rate. There is no optimal value for a currency. High and low values have tradeoffs, along with distributional consequences for different groups. Causes In a floating exchange rate system, a currency's value goes up (or down) if the demand for it goes up more (or less) than the supply does. In the short run this can happen unpredictably for a variety of reasons, including the balance of trade, speculation, or other factors in the international capital market. For example, a surge in purchases of foreign goods by home country residents will cause a surge in demand for foreign currency with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
