Myjoyonline News
 Home Page
 General News
 Business
 Politics
 Sports
 Health
 Education
 Articles/Features
 Science & Technology
 Entertainment
 Travel/Tourism
 Africa & International
 Nations Cup 2008
 
 
Guinea confirms huge China deal
Previous Page
 
Guinea's military rulers have agreed a huge mining and oil deal with China, officials have told the BBC.
Guinea's military rulers have agreed a huge mining and oil deal with China, officials have told the BBC.
 
 
 
 
 
   
 
Guinea's military rulers have agreed a huge mining and oil deal with China, officials have told the BBC, amid continuing criticism of the junta.

Guinean Mines Minister Mahmoud Thiam said a Chinese firm would invest more than $7bn (£4.5bn) in infrastructure.

In return, he said the firm would be a "strategic partner" in all mining projects in the mineral-rich nation.

Guineans are currently on strike to remember dozens of protesters killed by soldiers during a rally two weeks ago.

The shootings were widely condemned by international leaders and opposition groups within Guinea.

Agricultural Minister Abdourahmane Sano resigned on Monday, saying he could no longer show solidarity with the government.

And the president of West Africa's economic bloc, Ecowas, warned that the country was in danger of slipping into another dictatorship.

There are widespread calls for junta leader Captain Moussa Dadis Camara to step down.

After last December's coup he promised to lead a transitional government and hand power back to civilians after an election scheduled for January 2010.

But there has been growing anger at reports that he intends to stand for president.

'Placing foundations'

China has been praised recently by think-tanks and African leaders for choosing to invest in infrastructure and business in Africa, rather than doling out aid money.

But analysts say the timing of the Guinea deal is likely to stir controversy, as the legitimacy of Guinea's government is under question.

Mr Thiam dismissed those concerns, saying the government is trying only to help the people.

"We are all in a transition, putting down foundations. We hope that the government that follows us will follow suit," he told the BBC's Network Africa programme.

He did not name the firm involved, but said it was the same firm that has invested billions in Angola - the Hong Kong registered China International Fund.

He said the firm would help build ports, railway lines, power plants, low-cost housing and even a new administrative centre in the capital, Conakry.

He said a national mining firm would be set up, with the Chinese company becoming "strategic partners".

"All the government's stakes in various mining projects will be put in that mining company. Future mining permits or concessions that the government decided to develop on its own will be put in that company," he said.

Guinea is thought to have the world's largest reserves of the aluminium ore, bauxite.


Source: BBC


       

 
  Popular Stories


Search Our Website
 
 
 
OTHER INTERNATIONAL STORIES
   Guinea confirms huge China deal
   Guinea 'facing new dictatorship'
   Liberian journalist predicts doom
   Obama to end military gay policy
   Nigeria: Moshood Abiola's family to reconcile 12 years after his death
   Nigeria tanker explosion kills 70
   Zoo paints stripes on donkeys to make 'zebras'
   Nigeria: Afari-Gyan clears Iwu of blame
   Nigeria's poor governance credentials
   Afari-Gyan on free, fair Elections in Nigeria
   Obama wins 2009 Nobel Peace Prize
   US First Lady 'slave roots' found
   The world must guarantee rights of children everywhere - UNICEF
   Guinea to probe rally shootings
   One in four is Muslim, study says