The official schedule for Guinean bauxite
The bauxite reference price applied by the Ministry of Mines (MMG): the 2025 schedule by company (CBG at USD 39.59/t down to Ashapura Boffa at USD 21.77/t, USD 30.72/t average), the mechanism bringing declarations closer to the market, and the 2026 context (price collapse, export restrictions, GBX index).
Contents
Numbered sections — jump in or read in order
01 Key figures
02 What the reference price is
Bauxite has no single exchange price, unlike 62% iron ore or gold: it is traded through bilateral contracts. To prevent each operator from declaring whatever price it wishes, the Ministry of Mines (MMG) has applied an official reference price since 2024-2025 that serves as the basis for declarations — and therefore for fiscal revenues.
The mechanism explicitly brings operators closer to international market prices (this site's Prices page; Guinee7, 2022/2026). It was championed by tax expert Yakouba Kourouma of the ministry (Guinee7, 18/08/2022; 13/02/2026).
03 The 2025 schedule by company
| Company | Average 2025 selling price (USD/t) |
|---|---|
| CBG | 39.59 |
| AGB2A SDM | 35.73 |
| CDM Chine | 33.73 |
| SMB | 32.50 |
| CHALCO | 27.80 |
| CBK | 27.71 |
| Ashapura Minex | 26.92 |
| Ashapura Boffa | 21.77 |
| Sector average | 30.72 |
Source: MMG N°30 (year 2025) — unit selling prices by company.
04 Why it matters
The reference price is the link between the subsoil and the state budget:
- It underpins taxes: GNF 4,426.7bn in mining taxes collected in 2025, 54% paid by SMB. See the taxes page →
- It is the answer to gaps: the mechanism aims to narrow the gap between declared and market prices — gap sheet N°3 documents whether the gap is actually closing. See gap sheet N°3 →
- It values exports: at USD 30.72/t, the 182.8 Mt exported in 2025 represent ≈ USD 5.6bn [own calculation]. See the exports page →
05 The 2026 context
In 2026 the dynamic reversed: world bauxite prices collapsed under oversupply (Fastmarkets, 11/03/2026) — a tonne of bauxite is already worth less than a tonne of cocoa (Africaguinee, 31/12/2023). Guinea reacted in three steps:
- Export restrictions to stabilise prices (Reuters, 18/03/2026; Briefs Finance, 26/05/2026).
- A price-support plan (Agence Ecofin, 19/03/2026).
- Preparation of the GBX, a Guinean bauxite index (Guinéenews, 10/04/2026) — Guinea wants to weigh on world prices (RFI, 20/03/2026).
06 What we know / what we don't know
- We know: the 2025 schedule by company (MMG N°30, Table 35) · the reference price in force since 2024-2025 · the 2026 context (Fastmarkets, Reuters, Guinéenews, RFI) · the revenue ≈ production × price × rate formula.
- We don't know: the exact monthly reference price value (not published consistently) · the precise official-vs-market gap — reference indices (Fastmarkets, SMM) are paid [missing link] · the 2024 → 2025 convergence (Bulletin N°29 not extracted) · details of the GBX index under preparation.
07 Related
Bauxite
2025 production by company (175.45 Mt): the volume the schedule values.
SEE THE DATA →Market prices
Iron ore 62%, aluminium, gold: the international benchmarks behind the schedule.
SEE THE DATA →Taxes
The schedule underpins the GNF 4,426.7bn of mining taxes collected in 2025.
SEE THE DATA →Gap sheet N°3
Is the official-market gap closing? Documented hypotheses and missing links.
SEE THE DATA →Alumina, the pivot
SPIC, WCAG, Chalco: three refineries under construction — the structural answer to falling prices.
SEE ALUMINA →