Mamady Fofana, director general of stateowned Guinean mining company Soguipami, is due to resume difficult negotiations with Chinese companies Chalco and Henan Chine (also referred to as CDM Chine) this September. He will be looking to reach agreement on how much Soguipami should pay for a share of the bauxite mined in Guinea by the two Chinese companies, which it then plans to trade on its own account on the international market. A share of mining output must to go to the state by law but Soguipami must nevertheless acquire it at a price acceptable to all parties if it plans to resell it on its own account rather than simply collect what it is owed after it has been sold by the mining companies themselves. Sogiupami hopes to keep down the price it pays the mining companies so as to obtain the highest possible margin when it comes to resell the bauxite but Chalco and Henan want to ensure that they get the best possible price for their bauxite from the state-owned company.
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