Guinea’s military junta has told foreign mining companies they must share profits equally with the country, and must comply with a deadline set for May to present plans to build local refineries.
The West African nation is the second biggest producer of bauxite – a mineral used in the manufacture of aluminium – and wants to benefit more from the post-mining process of turning the raw material into alumina.
In a statement posted to Facebook, the presidency said a more equitable partnership with foreign firms was a “win-win”.
If the end of May deadline is not met, Guinea’s leader Mamady Doumbouya has also reportedly said penalties will follow.
