Guinea's mining sector shows good health against coronavirus pandemic

01 Juin 2020

Conakry, Guinea, June 1 (Infosplusgabon) - Guinea's mining sector will suffer "limited impact" of the coronavirus disease in the current year, an official source in Conakry said on Monday.

However, the results of the updated production and export forecasts for bauxite and industrial gold, published by the Ministry of Mines and Geology, must be taken with caution in an "uncertain global environment".

According to a statement, production in the first quarter of 2020 shows a relatively reassuring trend at the moment, compared to the initial forecast.

Bauxite and industrial gold production in the first quarter were 21 million tonnes and 97,000 ounces, respectively, the same level as in 2019.

The ministry warns that caution is important, because the extent of the impact on mining activities in the country will depend mainly on that of the epidemic, as well as its duration in the trading and financial partner countries.

Since the discovery on 12 March of the country's first case of Covid-19, health services have recorded more than 3,000 patients, of whom 1,000 have been reported to be recovered against 23 deaths.

In response to the disease's progression, the government developed a response plan last April valued at more than US$300 million.

In presenting the plan, Prime Minister Dr. Ibrahima Kassory Fofana said the available projections were not reassuring, adding that the already worrying spread of the virus could be even more rapid.

He said the International Monetary Fund (IMF) was forecasting a growth rate of 6 per cent in the national economy in 2020, against 5.6 per cent in 2019.

It is very likely, he said, that the consequences of the Covid-19 will result in a decline that could reach about 1 per cent of GDP in 2020.

FIN/ INFOSPLUSGABON/ART/GABON2020

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