Date: 2025-08-21 Page is: DBtxt003.php txt00028980
GUINEA (CONAKRY)
DEMOCRACY AT RISK
CNBC Explains. Why a coup in Guinea was felt around the world
DEMOCRACY AT RISK
CNBC Explains. Why a coup in Guinea was felt around the world
Original article: https://www.cnbc.com/video/2021/12/16/why-a-coup-in-guinea-was-felt-around-the-world.html
A coup in mineral-rich Guinea has rattled markets and disrupted mining operations beyond West Africa. The coastal country boasts some of the world’s largest reserves of many minerals, including bauxite and iron ore. The military’s overthrow of Guinea’s long-serving president, Alpha Conde, has added further pressure to already strained supply chains.
Thu, Dec 16 2021 3:33 AM EST
Written by Timothyna Afua Duncan
A coup that took place in a coastal country in West Africa may hit closer to home than you think — with smartphones and power lines potentially being affected.
Why? These items all contain aluminum, and the world’s primary source of aluminum is bauxite ore. And Guinea, the country where this coup occurred, has the world’s largest bauxite reserves.
On Sept. 5, 2021, gunshots broke out in Guinea’s capital, Conakry. Soldiers from the country’s special forces had ousted President Alpha Conde, citing corruption as their motivation. In the process, the coup disrupted nearly a decade of political stability in the mineral-rich nation.
Days after, aluminum prices spiked to a 10-year high on the London Metal Exchange. Markets were rattled by the possible disruption to global supply chains.
Watch the video above to find out why a coup in Guinea was felt around the world, and what this latest blow means for consumers and businesses around the world.
Peter Burgess COMMENTARY
During the time when I was doing work in West Africa, Conakry in Guinea was one of the more developed cities in the region. My first visit to West Africa was in 1974 when I was the CFO of an international fishing company called Continental Seafoods Inc (CSF), which had operations in more then 20 countries around the world, in lcuding several operations in West Africa. We did not have any trawlers based in Conakry because this area at the time was still dominated by French companies.
CSF operated mainly in anglophone countries in Africa ... so Liberia rather than Guinea.
While CSF had a focus on fishing resouces ... my general interest and curiosity was broader. In terms of mineral resources, Gionea and Liberia have a lot of similar mineral deposits ... especially high quality iron ore.
Liberia's political leadership imploded around 1980. CSF exited Liberia some time before that. Liberia has stabilised considerably since that time ... and hopefully that will continue.
Guinea has a lot of mineral potential ... but the political dynamic in French speaking countries is not quite the same as in the English speaking countries!
Peter Burgess