- The Economic Community of West African Nations (ECOWAS) suspends Guinea’s membership at an extraordinary meeting
- ECOWAS condemned the military takeover and reiterated calls for the immediate release of Guinean President Alpha Condé
- The regional bloc will send a high-level mission to Guinea for discussions, after which it will review its position
- Guinea is one of the world’s largest producers of bauxite, an ore used to make aluminium
- Following the coup, aluminium prices have risen to a 13-year high
The regional bloc of West African States has barred Guinea from participating in decision-making initiatives, following the military-led coup d’état on Sunday.
The Economic Community of West African Nations (ECOWAS) convened an extraordinary meeting to discuss the situation in the country of 13 million people.
Following the video conference, Burkina Faso’s Foreign Minister Alpha Barry spoke from the capital Ouagadougou.
“A high-level mission should be sent by ECOWAS to Guinea, as of tomorrow, in order to speak with the new authorities,” Mr Barry said. “After this mission, ECOWAS should be able to re-examine their positions, but for now, ECOWAS has decided to suspend Guinea from all the decision-making instances of ECOWAS.”
Mr Barry called on the decision by the economic and political bloc to be endorsed by the African Union and the United Nations, both of which already condemned the takeover by force.
The group also reiterated calls for the release of Guinean President Alpha Condé.
Aluminium hits a 13-year high
Guinea is one of the world’s largest exporters of bauxite – an ore used to produce aluminium. The mining industry more broadly contributes around 35 per cent of the country’s GDP.
On Monday, coup leader Mamady Doumbouya urged miners to continue operations.
“Mining companies are asked to continue their activities, the maritime borders will stay open for the export of mining products, the curfew in mining areas is lifted in order to continue producing,” he said.
Some miners such as the Aluminium Corp of China have reported their operations were continuing as usual. Others are watching the situation closely.
Russia’s RUSAL – which mines bauxite and refines alumina in-country – earlier this week flagged it was prepared to evacuate staff if the situation deteriorated further.
“RUSAL’s number one priority is the health and safety of its employees and the continuity of its production processes,” RUSAL said in a statement. “In case of further escalation, the company is considering options for the evacuation of Russian personnel in the Republic. The company is monitoring the situation and is working closely with the Russian Embassy in Guinea.”
Aluminium jumped to highs not seen in a decade on Monday and despite reassurances from coup leaders, prices have continued to climb. Three-month aluminium futures on the London Metals Exchange closed at US$2793 (A$3800.85) per tonne on Wednesday, a price not seen since August 21, 2008.