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Vol 1 (AAC) No 12

Published 1st October 2008


Guinea

Dam payment

President Conté's ministers are the latest African team to negotiate a massive minerals-for-infrastructure countertrade deal

Officials from Guinea’s Ministry of Mines are due in Beijing to negotiate a US$21 billion countertrade deal to swap bauxite and iron ore concessions for investments in dams, roads, bridges, aluminium refineries and foundries. Guinean ministers want the China Development Bank to finance contracts for China Power Investment (CPI) and other companies to build vital infrastructure projects. Their trip to Beijing will be the next step in the lengthy talks, after a CDB team visited Conakry in July.

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