The president of the transitional military government, Colonel Mamady Dumbuya, announced the decision on Sunday, at a meeting with shareholders, and noted that the companies exploiting the mineral must present a timetable before the end of May for the construction of refineries.

He added that all the raw materials used in the process must be of national production and stressed that the entrepreneurs who violate the provision will be penalized.

Dumbuya noted that the decision is based on the boom of bauxite mining, adding that “revenues are below expectations and we cannot continue this fool’s game that perpetuates inequality in our relations.”

Guinea Conakry, which has proven reserves of 7.4 billion tons, is the world’s third largest producer of bauxite, which is used in aluminum production and is essential for the automotive and food production industries.

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