Editing Economy of Guinea (section)

===Mining===
{{main|Mining industry of Guinea}}
In 2019, the country was the world's 3rd largest producer of [[bauxite]].<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-bauxite-alumina.pdf USGS Bauxite Production Statistics]</ref>

Bauxite mining and alumina production provide about 80% of Guinea's foreign exchange. Several U.S. companies are active in this sector. Diamonds and gold also are mined and exported on a large scale, providing additional foreign exchange. Concession agreements have been signed for future exploitation of Guinea's extensive iron ore deposits.

Guinea is richly endowed with minerals, possessing an estimated one-third of the world's proven reserves of bauxite, more than 1.8&nbsp;billion metric tons (MT) (2.0&nbsp;billion short tons) of high-grade iron ore, significant diamond and gold deposits, and undetermined quantities of uranium.

Lately, with the increase of alumina demand from the booming economy of China, there is a renew interest in Guinea riches. The consortium [[Alcan]] and [[Alcoa]], partner with the Guinean government in the [[Compagnie des Bauxites de Guinée|CBG]] mining in north western Guinea, have announced the feasibility study for the construction of a 1 million TPa [[alumina]] smelter. This comes with a similar project from Canadian start-up Global Alumina trying to come with a 2&nbsp;billion dollar alumina plant in the same region. As of April 2005, the [[National Assembly of Guinea]] has not ratified Global's project.

Revenue from bauxite mining is expected to fall significantly in 2010 due mainly to the world economic situation.<ref>[http://www.miningweekly.com/article/guinea-bauxite-income-seen-down-60-in-2010-2009-09-28 ''Mining Weekly'', "Guinea bauxite income seen down 60% in 2010" 28 September 2009 (original source: Reuters)]</ref>