Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Sunday, November 8, 2009

China bets big on Guinea's bauxite - 08 Nov 09

China is proving an important trade partner for the west African nation of Guinea.

While Guinea's military rulers are facing sanctions from the African Union and others in the international community, China's recently committed to a $7bn mining and oil exploration deal.

Al Jazeera's Yvonne Ndege, reporting from the mining town of Sangaredi, says Chinese investment in bauxite mining - which accounts for 95 per cent of Guinea's total economy - has come to the aid of an industry threatened by EU sanctions.

The sanctions include bans on travel and the freezing of assets held outside Guinea by the military leaders, who seized power in a coup after the death of Lansana Conte, the president, last December.

They were imposed after troops opened fire on September 28 at a rally in a stadium, in the capital, Conakry, where protesters were urging Moussa Dadis Camara, the country's military leader, not to stand in presidential elections planned for January.



Tags:
aljazeera al jazeera english china guinea bauxite mining economy investment africa sanctions camara african union european Yvonne Ndege

1 comment:

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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