Guinea coup rattles iron ore and bauxite markets, stokes economic uncertainty – Elliot Smith ( – September 7, 2021)

A military junta claimed to have seized control in the West African country of Guinea and detained President Alpha Conde, casting uncertainty over key bauxite and iron ore supplies.

The coup, carried out on Sunday by an elite special forces unit led by 41-year-old Col. Mamady Doumbouya, is the latest in a series of power grabs in the region over the past year, including in nearby Mali and Chad.

Doumbouya has claimed the army was forced into action amid rampant corruption, human rights abuses and economic mismanagement under Conde, but the move has been condemned by the U.N., the African Union and regional body ECOWAS.

The elite unit on Monday allowed travel to resume through checkpoints in the capital of Conakry, barred government officials from foreign travel and lifted a curfew in mining areas

What’s more, it has imperiled minerals and mining endeavors which are crucial to the country’s economy and global supply chains, according to experts.

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