Why a coup in Guinea was felt around the world
Markets have been rattled by the coup in Guinea-mineral rich, which has also affected mining operations across West Africa. This country has some of the largest mineral reserves in the world, such as iron ore and bauxite. Alpha Conde was the long-serving President of Guinea. The military overthrow has put additional pressure on already stretched supply chains.
A coup that took place in a coastal country in West Africa may hit closer to home than you think — with smartphones and power lines potentially being affected.
Why? This is why.
Gunshots erupted in Conakry, Guinea’s capital on Sept. 5, 2021. Special forces soldiers had overthrown President Alpha Conde. They claimed that they were motivated by corruption. This coup disrupted almost a decade’s worth of political stability in this mineral-rich country.
Aluminum prices reached a 10 year high at the London Metal Exchange in just days. The possible disruption in global supply chains rattled markets.
You can watch the video to see why the coup in Guinea has been felt all over the globe and what the latest blow will mean for businesses and consumers around the globe.