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.
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.
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.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Experts Warn Against Unregulated Dietary Supplements and Protein PowdersLearn why dietary supplement labels can be misleading and why the FDA is cracking down.
Read more »
Part of Johnson Road West in west Mobile County to close while roundabout installedJohnson Road West just south of Jeff Hamilton Road in west Mobile County will be closed to through-traffic beginning Thursday, Feb. 29, 2024, for the construction of a roundabout.
Read more »
Man shot in head in Manhattan recording studioThe shooting happened in The Music Building, between West 38th Street and West 39th Street.
Read more »
Marine Mystery: Why Are Great White Sharks Disappearing in South Africa?Science, Space and Technology News 2024
Read more »
Why not check out Why's only rock and jewelry shop?Adam Klepp is KGUN 9's Marana reporter. Send your story ideas to Adam at Adam.Kleppkgun9.com.
Read more »
Why You Really Do Need Eclipse Glasses—and Why You Should Buy Them Right NowAlso, here’s why you can't look directly at the sun.
Read more »