Christian Science Monitor

By  Drew Hinschaw

August 31, 20011

In Conakry, Guinean officials are on the verge of signing a $5.8 billion mining deal with a Chinese state-owned fund, Reuters reports.

In return for digging rights to a plot outside the capital,China Power Investment would finance the construction of a coal power plant, a deep water port, and a refinery long sought after by the nation’s rulers.

West Africa‘s newest democracy sits on top of half the world’s reserves of bauxite, the principle ore used in aluminum. From independence until last year, Guineawas brutally ruled by a sequence of dictatorships. Now the former French colony is looking to make up five lost decades through quick swaps of mining rights for infrastructure…Read more.