Business News of Tuesday, 19 March 2019Source: Veep MediaGhana, Guinea to cooperate on bauxite industry developmentDr. Mahamudu Bawumia, Vice President speaking at the forumGhana and Guinea are set to begin discussions for bilateral cooperation in bauxite industry development, similar to the trade cooperation between Ghana and Ivory Coast in the Cocoa sector. Guinea has the bauxite resources and they have the mine. "Our vision as a country (Ghana) is to have our counterpart Guinea and others patronize our refinery and also bring their raw bauxite for smelter in Ghana. This will help boost the Ghanaian economy and earn us additional foreign exchange," Vice President Bawumia explained. With Guinea having the largest bauxite deposits in the world and Ghana having close to a billion metric tonnes of bauxite, the two countries are set to control between 70-80 percent of the world's bauxite resources.

Source: GhanaWeb March 19, 2019 15:56 UTC