AFC invests $205m in Guinea bauxite project

Pan-African multilateral development finance institution Africa Finance Corporation (AFC) will invest $205-million to help fund the development of Guinea-based mineral exploration company Alufer Mining’s high-grade bauxite reserves at its Bel Air mine. “Mining exports have historically played a crucial role in Guinea’s economy, accounting for up to a quarter of Guinea’s exports,” AFC CIO Oliver Andrews said in a statement on Monday.