News: POL Guinea mining exploration firms seek to reassure investors after coup

JOHANNESBURG, Sept 7 (Reuters) - Australian-listed bauxite and gold exploration firms Lindian Resources (LIN) and Polymetals Resources (POL) said on Tuesday that their activities in Guinea were unaffected by a coup.

The overthrow of President Alpha Conde triggered concerns about supplies of bauxite https://tmsnrt.rs/3l1NSxW, or aluminium ore, from Guinea, the world's second-largest producer, sending prices up even though no disruptions to output or exports have been reported. Benchmark aluminium CMAL3 hit a 10-year high on the London Metal Exchange.

Companies seeking clues to the new military leaders' stance on mining found comfort in their public pronouncements.

"The military leadership specifically noted the importance of the mining industry to the country's development and is open for business, with a focus on foreign investment," Polymetals' country manager Aguibou Bah said.

The coup leaders' National Committee for Reorientation and Development said on Monday that it would "respect all its obligations related to mining agreements".

Lindian Resources, which has three bauxite projects in Guinea, said it was "encouraged" by these public statements. Polymetals said it was confident the coup would not affect work on its Alahiné or Mansala gold exploration sites.

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Guinea's bauxite production and exports	https://tmsnrt.rs/3h6oLJs 

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