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Global 3000

Bauxite: Guinea's mineral wealth

Guinea holds the world's largest reserves of bauxite, a mineral from which aluminum is obtained. Eighty to eighty-five percent of Guinea's export revenues come from sales of this resource. However, the impoverished country has not benefited from its mineral wealth. Guinea's first democratically elected president is trying to reverse that.

Alpha Condé has pushed through a new mining law that charges mining companies higher taxes and guarantees the state a fifteen percent share in the enterprises.