Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.
The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved.
Despite the political uncertainties, the operations of mining projects in the bauxite-rich country were not impacted and are unlikely to be severely disrupted, according to market participants, given that bauxite is one of the crucial sources of revenue in the country.
"I think Guinea for now is not that much of a concern, they're dependent on royalties and the money, they're not going to cut that stream of revenue, this is consistent from what we heard from the local guys," a trader said.
Participants told Fastmarkets they had been told by the major minors in Guinea that there were no disruptions.
"There have been some roadblocks and...