Guinean 'president' seals gold mines Sat, 27 Dec 2008 15:46:54...

Guinean 'president' seals gold mines
Sat, 27 Dec 2008 15:46:54 GMT


Captain Moussa Dadis Camara,
The self-proclaimed Guinean leader has halted gold extraction in the country invalidating all the current mining contracts, reports say.

On Saturday, Captain Moussa Dadis Camara said that, pending further notice, gold extraction had to be barred in the West African country which enjoys good reserves of the precious metal, AFP reported.

Camara, in power since the last week's coup, also said that all the agreements on extracting Guinea's minerals had to be subjected to fresh bargaining.

Guinea's natural resources are considered by many as the poor country's gateway to self-sufficiency. The country also excels the world's bauxite and aluminum producers.

Its massive quantities of gold, diamond, and iron ores were, however, poorly explored during the 24-year rule of the late president Lansana Conte.

The once faceless serviceman and his legion of army deserters took de facto control of the country last week in a military takeover shortly after Conte's death.

Camara, however, reportedly allowed the opposition and the union leaders' say in the appointment of his prime minister.

The Saturday move by Camara raised new concerns about the prospects of Conakry's long-awaited transition from poverty.

HN/RA

This has to push the price of gold up.