GUINEA’S bauxite industry experienced a notable expansion in 2023, marking the third consecutive year of growth, as revealed by fresh government data and insights from a senior mines ministry official. The West African nation, renowned as Africa’s primary bauxite producer, saw a significant surge in both production and exports, highlighting its pivotal role in the global aluminum supply chain amid the ongoing energy transition.
According to statistics disclosed by the mines ministry and reviewed by Reuters on Wednesday, Guinea’s bauxite production skyrocketed by over 19 percent year-on-year in 2023, reaching approximately 123 million metric tons. Concurrently, bauxite exports surged by a striking 24.5 percent to hit 127 million tons during the same period, underscoring the nation’s robust contribution to the international bauxite market.
The surge in production and exports can be attributed in part to the endeavours of Guinea’s leading bauxite producer and exporter, Societe Miniere de Boke (SMB)-Winning. The company, instrumental in driving the increased output, has outlined ambitious plans for further expansion. SMB-Winning intends to inject investments totalling up to $1bn over the forthcoming five years, primarily aimed at enhancing infrastructure such as river terminals and acquiring vessels to facilitate additional export capacity.
A senior official from Guinea’s mines ministry, speaking on condition of anonymity, provided comparative figures for the preceding years, shedding light on the industry’s growth trajectory. In 2022, Guinea’s bauxite production stood at 103 million tons, accompanied by exports totalling 102 million tons. The official further disclosed that in 2021, the country produced approximately 87 million tons of bauxite, with export figures reaching around 81 million tons, according to ministry statistics.
Guinea’s consistent upward trend in bauxite production and exports underscores its pivotal role in meeting the escalating global demand for aluminum, particularly amidst efforts towards sustainable energy transition initiatives worldwide. With strategic investments and favourable market conditions, Guinea’s bauxite sector remains poised for further expansion, driving economic growth and reinforcing its position as a key player in the international aluminum industry.