December 21, 2011
By Saliou Samb
CONAKRY (Reuters) – Guinea will review mining contracts and cut the size of the armed forces during 2012, President Alpha Conde said in a speech outlining his priorities for his second year in office.
The moves are aimed at boosting the West African state’s economy and cementing its fragile stability, but if done poorly could backfire by angering international investors as well as the country’s unruly soldiers.
Guinea is the world’s largest supplier of the aluminum ore bauxite and has vast deposits of iron ore that have drawn billions of dollars in planned investment, but it is struggling to emerge from decades of political turmoil…Read more.