A coup in mineral-rich Guinea has rattled markets and disrupted mining operations outside West Africa. This coastal nation boasts some of the world’s largest mineral reserves, including bauxite and iron ore. The military’s ouster of Guinea’s longtime president, Alpha Conde, has put further pressure on already strained supply chains.
A coup d’etat in a coastal West African country could be closer to home than you think – with smartphones and power lines potentially affected.
Why? All of these commodities contain aluminum, and the main source of aluminum in the world is bauxite ore. And Guinea, the country where this coup took place, has the largest bauxite reserves in the world.
On September 5, 2021, gunfire broke out in the Guinean capital Conakry. The country’s special forces soldiers 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.
A few days later, aluminum prices spiked to a 10-year high on the London Metal Exchange. The market was mixed due to possible global supply chain disruptions.
Watch the video above to learn why there is a worldwide coup in Guinea and what this latest blow means for consumers and businesses around the world.
