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Guinea eyes exporting 40 mln tons of bauxite by 2024

CONAKRY, July 2 (Xinhua) -- Guinea plans to increase its bauxite export from the current 17 million tons to 40 million tons per year by the year 2024, the country's Mines and Geology Minister Kerfalla Yansane said Wednesday.

In this regard, the Guinean government and several mining companies operating in the country recently signed in Paris various agreements regarding joint utilization of mining infrastructures such as railway lines and ports, he said.

The minister said the multilateral agreements will provide opportunities for new investments of up to 7.3 billion U.S. dollars in Guinea's mining sector.

"With these agreements, the Guinean government under the leadership of President Alpha Conde will lay a strong foundation for the development of the country's mining sector," Yansane said.

Guinea which is the world's largest bauxite producer, has proven bauxite reserves of 18 billion tons. It is estimated that the country could have reserves of up to 25 billion tons.

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