wealth

The greatest geopolitical and economic challenge facing the United States today is the proliferation of international Sovereign Wealth Funds (SWFs.) While the United States has the “sweet geopolitical spot in the world’s geography and topographic landmass,” its economic dominance is being challenged by the proliferation of international SWFs. It is true, at present, that the United States has the largest reserve of oil and mineral wealth in the world, yet with SWFs gaining traction in the world economy, the oil reserves and mineral wealth may not matter.

Those countries that have initiated SWFs as part of their economic and geopolitical life are on an upward trajectory. The United States, on the other hand, is on a downward path by not marshalling its vast mineral wealth in a comprehensive and dynamic SWF. If things continue on their present course, those countries utilizing their mineral wealth and excess cash surplus will eventually catch up and overtake the size of the US economy. This is an evolving threat to the national security of the United States and to its very polity.

The most immediate threat to the United States is the race to develop mining facilities on the Moon to harvest and transport the critical element of Helium-3 (He-3.)    He-3 is a critical element for the increasing economic demands of a modern world economy. Whoever can establish mining dominance for this critical element will become the world’s leading economic power in the world, regardless of that nation’s mineral wealth on Earth.

However, with its present economic and political strength, the United States has the means to reverse that trend if its two major political organizations can compromise on the very nature of the framework that establishes a United States SWF; this challenge is not easily dealt with.

This article discusses the legislative gridlock surrounding the creation of a United States SWF and the accelerating international competition that challenges the current United States dominance in space technology.

Commonwealth Fusion Systems (CFS) is currently constructing the SPARC at Devens, Massachusetts. CFS is constructing the SPARC to demonstrate to the world that it has solved the fusion problem. Despite some technological setbacks, CFS is on schedule to make the SPARC operational by the end of 2026, or early 2027. At the same time, CFS is currently constructing a fusion reactor (called a tokamak) in Virginia, which is scheduled to go online in the early 2030s. Critical to the ARC’s development is a shortage of the element He-3. He-3 is ignited by radio frequency and is the sparkplug that begins the plasma process, which is fusion energy, in the ARC tokamak.

The Commercial Landscape: U.S. Private Frontrunners

Terrestrial Helium-3 supply—derived primarily from nuclear stockpile maintenance—is severely capped at 22,000 to 30,000 liters annually. With surging demand for ultra-low-term quantum computer cooling, private aerospace firms are leading the transition to lunar harvesting:

• Interlune: Founded by former Blue Origin executives, the company unveiled a full-scale prototype harvester developed with Vermeer to process one hundred metric tons of regolith per hour. Backed by a $6.9 million NASA contract for its Prospect Moon payload, Interlune secured a historic $300M+ supply agreement with Finnish quantum firm Bluefors. Its first mapping payload is scheduled for an upcoming commercial lunar launch.
• Lunar Helium-3 Mining (LH3M): This firm holds five U.S. patents on a non-invasive, gas-separation architecture designed to extract solar wind volatile gases while bypassing traditional, high-wear mechanical regolith excavation.

The U.S. Sovereign Wealth Fund Gridlock

While Helium-3 is valued at roughly $20 million per kilogram, the asset cannot currently be utilized to seed an American Sovereign Wealth Fund due to severe political domestic gridlock:

• The Legislative Catch-22: The U.S. Commercial Space Launch Competitiveness Act explicitly protects private enterprise, granting corporations exclusive ownership over extracted space resources. To capture this value, Congress would need to enact “space-severance taxes” or equity-for-infrastructure deals—both of which face massive ideological pushbacks in a deeply divided legislature.  It should be noted that American taxpayers have invested some $1.9 trillion (adjusted for inflation) in technology developed by NASA. Since the American people invested this money, they should be entitled to a return on investment.
• The Deficit vs. Surplus Dilemma: Traditional SWFs rely on state-managed resource surpluses (e.g., Norway’s oil). The U.S. operates at a massive structural deficit. Republicans propose seeding a fund via tariffs or fossil-fuel extraction, while Democrats demand funding via corporate wealth taxes or clean-energy equity. These disputes, combined with immediate 2026 midterm election priorities, have stalled the SWF framework completely.

Global Geopolitical Competitors: State-Driven Alternatives

While the U.S. model depends heavily on the private market, international adversaries are leveraging unified state power to establish dominance over lunar resources:

• China (CNSA): China’s Chang’e lunar exploration program is systematically mapping Helium-3 concentrations. Unlike the U.S. focus on near-term quantum cooling, Beijing explicitly views lunar He-3 as a long-term strategic energy priority to fuel Earth-based Deuterium-Helium-3 nuclear fusion reactors.
• The China-Russia Coalition: Beijing and Moscow have formalized a binding industrial partnership to construct an automated nuclear reactor on the Moon’s South Pole by 2035–2036. This autonomous reactor is designed to resolve the “Lunar Night” problem, providing continuous power to massive, automated mining rovers and scientific labs under the International Lunar Research Station (ILRS) framework.
• Japan (ispace): In the allied sector, Japanese lunar robotics firm ispace has partnered with European mining tech developers to pioneer its own automated, energy-efficient recovery models for lunar Helium-3.

·        Conclusion

·        The race for Helium-3 represents a critical shift from symbolic space exploration to deep-space industrial supply chains. While U.S. commercial tech is moving quickly, domestic policy gridlock risks ceding permanent, state-backed infrastructure dominance to the China-Russia ILRS coalition.

·        While the concept of using outer space resources to build national wealth is actively discussed by think tanks, Congress has separate, targeted pieces of legislation addressing artificial intelligence revenue, foreign transparency, and space resource exploration rules.

·         

·        The primary draft bills and legislative vehicles currently stalled in committee reveal how Congress is attempting to navigate these frameworks:

The American A.I. Sovereign Wealth Fund Act (S. 4825)

Introduced in June 2026 by Senate Finance Committee member Bernie Sanders (I-VT), this is the most direct legislative attempt to create a federal wealth fund.

• The Mechanism: The bill proposes imposing a specialized excise tax on systemically critical artificial intelligence models and automation infrastructure. The revenue would seed a citizen-owned national wealth fund.
• Why It’s Stalled: It is currently deadlocked in the Senate Finance Committee. The bill faces severe pushback from lawmakers who argue that taxing emerging domestic tech sectors will cause the U.S. to lose the AI race to China, preferring instead to seed a potential fund via tariffs or natural resources.

2. The Sovereign Wealth Fund Transparency Act (S. 1488)

Introduced by Senator Richard Blumenthal (D-CT), this bill tackles the national security and foreign policy side of state-owned investment vehicles.

• The Mechanism: Rather than creating a U.S. fund, this bill forces heavy disclosure requirements, financial auditing, and security screening on foreign sovereign wealth funds operating within U.S. critical infrastructure, high-tech, and aerospace sectors.

Why It’s Stalled: Referred to the Senate Committee on Foreign Relations, it has remained stagnant due to concerns that over-regulating allied sovereign wealth funds (such as those from Gulf state allies or Singapore) could chill necessary foreign direct investment into U.S. tech startups.

3. Space Resource Extraction & Regulatory Frameworks (CRS / Commerce Committee Review)

There is currently no singular active bill trying to place federal royalties on lunar Helium-3 mining. Instead, the debate is gridlocked during budget reconciliation and agency authorizations within the House and Senate Commerce, Science, and Transportation Committees.

• The Conflict: Congressional research reports on space resource extraction outline a widening gap in regulatory authority. NASA’s Artemis framework pushes heavily for in-situ resource utilization (ISRU) via public-private partnerships. However, some factions in Congress are pushing for strict government-owned procurement models to prevent private monopolies over lunar sites, effectively freezing long-term policy development
• Midterm Postponements: Broad commercial space bills have been repeatedly delayed because committee attention is entirely consumed by urgent federal budget reconciliation battles and defense appropriations.development.

Summary of Bill Statuses

Bill / Initiative	Primary Committee	Current Status	Core Roadblock
S. 4825 (American A.I. SWF Act)	Senate Finance	Stalled / Introduced	Bipartisan disagreement over taxing tech vs. utilizing tariffs.
S. 1488 (SWF Transparency Act)	Senate Foreign Relations	Stalled / Introduced	Fear of discouraging foreign venture capital in U.S. aerospace.
NASA Authorization & ISRU Policies	Senate Commerce / Science	Blocked in budget cycle	Disagreements on private extraction rights vs. national ownership.
NASA Authorization & ISRU Policies	Senate Commerce / Science	Blocked in budget cycle	Disagreements on private extraction rights vs. national ownership.

Conclusion

Until the two major political organizations can begin to compromise for the good of the American people, the United States will eventually revert to a second-class power.

ABBEY Clancy and Peter Crouch have been accused of boasting about their wealth as they revealed they’ve moved to Portugal while their £3m UK mansion is renovated.

The Sun exclusively revealed last month, that the football legend, 45, is set to feature alongside his model wife, 40, and their four children, in a new fly-on-the-wall documentary.

The couple, who co-present The Therapy Crouch podcast, regularly delve into the ups and downs of married life.

Peter read out a question from a listener which asked: “Have you completely relocated to Portugal or are you there while renovating your home?”

Abbey replied: “Obviously we sold our house, we were looking for a new house, we thought we would try living in Portugal for a bit.

“We’ve absolutely loved it and you know it works perfectly for us because you know we can renovate our new place and all come back and it’ll be done.”

Abbey explained that it had been a nice change and that she didn’t regret it at all.

She added: “The kids have loved it and you know it’s just been a great experience.”

However, some fans thought they were boasting about their wealth and one commented bluntly: “Yeah when you have bagfulls of money, yeah try another country.”

“Bet they’re in Quinta do Lago as it’s very fancy,” added another.

The couple were previously criticised by fans for ‘flaunting’ their enviable £3 million mansion while hosting a lavish Asian-inspired banquet.

The pair were giving a tour of their luxury estate prior to hosting an extravagant dinner party with lavish catering provided by London’s Nobu.

The multi-million pound property featured its own luxury cinema room and a spacious home office for Peter and his trophies.

Fashion-savvy Abbey had her own walk-in wardrobe, while the outside area boasted a ‘magical’ and ‘peaceful’ garden complete with a high-tech BBQ and swimming pool.

One fan commented: “We get it, you’re loaded. Well done.”

A second added: “How they live, we don’t need to know.”

“Once upon a time I might have thought this was amazing – now I’d rather cook a meal myself in my little house and listen to some music with my children,” mused a third.

Another user agreed: “I take it the ‘normal’ person can also get this or what’s the point in posting this other than to show off?”

Among coffee geeks, “pilgrimage” isn’t too strong a word to describe visiting the Collingwood neighborhood cafe owned by barista/roaster/industry visionary Nolan Hirte and his wife, Shari. Nolan was one of the leaders who built on Melbourne’s early coffee culture, established by Italian immigrants and their daily espresso habits in the mid-20th century. After Nolan took a tour of America’s burgeoning third-wave coffee shops in the mid-2000s, he returned to Melbourne determined to push the expressive possibilities of filter coffee even further.

At the cafe, the drink menu — whether drip, espresso drinks or pour-overs — includes flavor descriptions that can resemble wine-tasting notes, but there’s nothing fussy about the experience, or the easygoing breakfast and lunch options. Pour-over freaks looking for the highbrow deep dive should walk two blocks to Aunty Peg’s, the Hirtes’ laboratory/counter/roasting facility, for two or three rounds of Panamanian geishas.

Proud Mary —172 Oxford St., Collingwood
Aunty Peg’s — 200 Wellington St., Collingwood

June 11 (Asia Today) — South Korea is facing widening gaps in both wealth and income, with young people and those without homes losing ground economically, Bank of Korea researchers said Wednesday.

The central bank’s research department made the assessment in a report titled “Household Polarization in the Korean Economy and Its Spillover Effects.” The report said South Korea is confronting a form of dual polarization as asset and income inequality expand at the same time.

According to the report, South Korea’s net wealth Gini coefficient fell to 0.584 in 2017 but has since risen, reaching 0.625 last year. A Gini coefficient closer to zero indicates greater equality, while a figure closer to one indicates greater inequality.

The report identified rising real estate prices as a key factor behind the widening asset gap. It said higher property prices have played a central role in explaining movements in wealth inequality.

The Bank of Korea researchers also said real estate assets are concentrated among older generations, making wealth inequality between generations more structural.

The conditions for young people to build assets have deteriorated, the report said. An increasing number of young people earn relatively high incomes but cannot enter the upper wealth bracket because they do not own real estate.

The report said the mobility that once allowed people with middle- to upper-level incomes to move into the top wealth group has weakened, undercutting the asset-building ladder for younger households.

Income inequality also shows signs of widening again. The disposable income Gini coefficient fell from 0.353 in 2016 to 0.323 in 2023 but rose slightly to 0.325 in 2024.

The report said income inequality, which had improved through redistribution policies, could widen again because of K-shaped growth across industries.

Researchers identified the gap between the information technology sector and non-IT industries as a driver of income polarization. In the IT sector, wages have risen sharply, led in part by bonuses, while wage growth has been limited in other industries.

The spread of artificial intelligence could further deepen income gaps, the report said. Researchers said AI technology, combined with advances in robotics, could replace jobs held by low-income workers and young people in the early stages of their careers.

A Bank of Korea survey on AI also found that people in lower income brackets were more likely to believe their jobs could be replaced by AI.

The impact of dual polarization is especially visible among young people. The share of people in their 20s and 30s among households in the bottom quintile for both net wealth and income rose from 7.9% in 2020 to 15.2% in 2025.

The report said this suggests young people without homes are increasingly being pushed into lower economic groups.

The Bank of Korea researchers warned that dual polarization could weaken productivity and consumer vitality across the economy.

An analysis using data from 120 countries found that when the share of wealth held by the top 10% rises by 1 percentage point, total factor productivity falls by 0.16% two years later.

In South Korea, the share of net wealth held by the top 10% increased from 43.0% in 2022 to 46.1% in 2025, up 3.1 percentage points. Researchers said widening wealth inequality could become a constraint on economic growth and productivity improvement.

The social costs could also increase. The report said widening wealth and income gaps may lower expectations for upward mobility, weaken work incentives and reduce social trust.

It also warned that high housing costs for young people could become a barrier to marriage and childbirth.

The researchers said redistribution policies focused mainly on income support are not enough to respond to dual polarization. They said South Korea needs to guide household assets, which are heavily concentrated in real estate, toward more productive sectors and expand opportunities to build productive assets.

The report also called for a more stable tax base in response to economic changes driven by technological development. It said institutions should be reviewed to ensure that the path from labor income to asset formation does not deteriorate further.

Researchers also said South Korea must strengthen new growth industries so the benefits of economic growth can spread more widely across the economy.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260611010004200

Californians couldn’t escape billionaire Tom Steyer’s political ads — during newscasts, sitcoms, or sporting events; on streaming services, YouTube, influencers’ social media feeds, or their mailboxes. Even the Puppy Bowl.

Yet despite spending a record-shattering $216 million of his wealth on his run for governor, the Democrat failed to win enough votes in last week’s primary to advance to the November general election to replace termed-out Gov. Gavin Newsom.

“Money isn’t everything, even though it obviously helps,” said Andrea Godfrey Flynn, a marketing professor at the University of San Diego. “It boosted Steyer way up. … But there are so many other factors at play that it may not have been enough.”

Steyer, a hedge fund co-founder turned environmental warrior, polled at 1% shortly before he entered the governor’s race in November, according to a survey by UC Berkeley’s Institute of Governmental Studies that was co-sponsored by the Los Angeles Times.

He climbed in subsequent polls, hitting 19% in the same poll shortly before the June 2 primary, putting Steyer in contention for winning one of the top two spots in the contest that would allow him to advance to the November election. But then he hit a ceiling, and on Tuesday, it became official that he failed to advance.

Steyer emailed supporters Tuesday expressing gratitude for their efforts backing his campaign, endorsements and votes.

“Together, we fought for a California that belongs to the people who keep it running every day, and we insisted that they do not have to settle for a system that protects corporate profits at the expense of working people,” he wrote. “I’m proud of how we never compromised our values or lowered our sights for what California can and should be.”

He pointed with pride at major corporations such as Chevron and Meta spending heavily to oppose his bid, and said their tens of millions of dollars spent attacking him shows the flaws in the electoral system. And he acknowledged that may be part of the reason some voters were skeptical of voting for a billionaire.

“I’m proud of the enemies we made,” Steyer said. “This campaign proved that business-as-usual depends on politics-as-usual, and there is no going back. We must continue to fight for a system where democracy serves Californians, not corporations — and where you do not have to be a billionaire to run on single-payer, or on breaking up monopolies, or on calling out a corrupt system when you see it. Because people are fed up with a system rigged to benefit billionaires and leave them behind.”

As of Tuesday evening, Steyer had received more than 1.9 million votes of the more than 9 million cast, lagging behind the two candidates who will appear on the November ballot: Republican Steve Hilton, a former Fox News commentator, and Democrat Xavier Becerra, a longtime elected official who most recently served in President Biden’s cabinet. Steyer was trailing Hilton, the second-place finisher, by just over 200,000 votes.

Steyer immediately endorsed Becerra, whom he had relentlessly attacked in the closing weeks of the campaign as beholden to corporations with business in front of the governor.

California has a history of unsuccessful self-funders. Former Northwest Airlines co-chairman Al Checchi spent more than $40 million of his money on an unsuccessful gubernatorial primary campaign in 1998, which broke records at the time.

More than a decade later, former EBay chief Meg Whitman spent $144 million of her wealth on her bid to become California’s governor, setting a new national record for spending on a state election. She won the GOP nomination but lost in the general election.

This year’s gubernatorial contest is not the first time Steyer has spent an inordinate sum seeking office. In 2020, he spent $342 million on a brief, unsuccessful presidential campaign.

Sheri Sadler, a veteran Los Angeles-based Democratic media buyer, said Steyer’s 2026 gubernatorial deluge was notable.

“I literally saw his spots ad nauseam,” she said. “They left almost no stone unturned.”

Sadler worked for Steyer in the final weeks of his presidential bid and scheduled $50 million of billionaire Rick Caruso’s money on ads during his unsuccessful 2022 Los Angeles mayoral campaign.

She believes that Steyer hit a ceiling because voters who are bombarded by ads eventually feel that the candidate is trying to purchase their affection.

“It’s one thing to give me a message I can resonate with. If they’re just trying to buy my vote, that feels different to me,” she said, adding that Steyer’s wealth undermined his platform, which included support for raising taxes on billionaires. “That’s my gut. And I feel like that’s what happened to us on Caruso and possibly why he didn’t run” for governor this year.

Steyer, 68, made his fortune founding a hedge fund that included investments in fossil fuels, private prisons and other businesses that are controversial among Democrats. He told voters that he walked away from the firm 14 years ago, leaving an enormous amount of money on the table, because it did not align with his morals. Steyer adds that he and his wife have pledged to give away most of their wealth before they die.

And unlike many wealthy self-funders, Steyer did not leap into a campaign as a political neophyte who assumed their business skills would translate into being an effective elected official.

Steyer and his wife, Kat Taylor, are longtime donors to Democratic candidates, but for well over a decade, they have spent hundreds of millions of dollars on liberal causes such as fighting climate change, mobilizing young voters, urging the impeachment of President Trump, opposing an effort by oil companies to suspend California environmental standards, increasing the state cigarette tax and supporting last year’s redrawing of the state’s congressional districts to counter Trump.

Darry Sragow, a veteran Democratic strategist who advised Checchi, said that Steyer’s focus on such causes had the potential to be meaningful to voters who are often skeptical about the sincerity and motives of rich candidates.

“Tom Steyer has done a good job in that respect, because if you’re going to overcome that skepticism, it’s very helpful for the candidate to show that he or she has actually been involved in the world of public policy and politics for an extended period,” and Steyer has, Sragow said.

Assemblyman Isaac G. Bryan (D-Los Angeles), who endorsed Steyer, argued that he promoted proposals that were against his personal interests, such as the proposed billionaire’s tax that is expected to appear on the November ballot.

“Interestingly enough, Tom Steyer is also the only candidate who’s talked about campaign finance reform and wanting to get money out of politics, including his money, to return power to the people and have publicly financed elections,” Bryan said after a Steyer rally near downtown L.A. on May 31.

Former Orange County Rep. Katie Porter and state Supt. of Public Instruction Tony Thurmond also campaigned on limiting the influence of corporate PAC money in elections, or implementing publicly financed elections in California. Porter often criticized Steyer for running as a “change agent” while spending millions he earned from investments in oil and gas.

“You paid the lowest tax rate on this stage and yet you made the billions that you’re using to fund your campaign off fossil fuels,” she said to Steyer during an April 28 debate in Claremont.

Political experts argue that messages that seem contradictory to a candidate’s background, as well as drowning voters with incessant ads, can be jarring and off-putting to the electorate.

“It can be an overload to voters where they hit that tipping point where they’re no longer interested,” Flynn said.

Despite Steyer’s foundational argument that his wealth meant he was not beholden to anyone, she said voters may be unable to reconcile a billionaire’s ability to understand or empathize about an average Californian’s needs.

“The messaging still is a giant factor,” Flynn said. “I’m curious [about] how believable it came across to voters — can you trust a billionaire to really care about affordability, someone who made money working with business or in business not to care about special interests?”

While Steyer campaigned as a hard-left liberal, he failed to be the top pick for progressives. Steyer had the support of 35% of likely voters who identified as strongly liberal while Becerra was backed by 37%, according to Berkeley’s May poll.

After talking to college Democrats at UCLA on the eve of the primary, Steyer said regardless of what happens in the primary, he will remain politically involved, though he would not run for president in 2028.

“I’m going to keep working on these issues, because I’ve been working full-time on these issues for 14 years,” Steyer said. “There’s no question what I’m going to do. How I do it is a little bit up in the air.”

Times staff writer Dakota Smith contributed to this report.

Bembou Silaty, Guinea – Mamadou Aliou walks through the small village of Bembou Silaty in northwestern Guinea carrying an irresolvable contradiction.

The 38-year-old works in the environmental health and safety department for a bauxite mining company, yet he is also an activist striving to improve life in his community, which often means criticising the actions of another mining company in the area.

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“Before these companies arrived, we cultivated our land, and it sustained us,” Aliou told Al Jazeera.

“We could cover our daily needs, especially food. But now, when a piece of land is registered and belongs to a mining company, you have nothing there any more.”

The foreign-linked mining companies are part of the global scramble for Guinea’s bauxite. The West African nation holds the world’s biggest reserves of the ore, which is the source material for alumina and ultimately aluminium, a metal essential for car and aircraft frames, windows, wind turbines, and solar panels.

Over the past three decades, Guinea has multiplied its bauxite production tenfold. More than a dozen projects of bauxite production are currently ongoing in the country, according to the online cadastre.

As the global energy transition demands ever more aluminium, it has placed Guinea in a strategically crucial position. Approximately 75 percent of the bauxite exported by the country over the past decade has ended up in China, which produces 60 percent of the world’s aluminium.

Companies from Russia, the United States, and the United Arab Emirates have also established themselves in the country to secure the ore. In Bembou Silaty, an Indian company that began operations in 2019 now holds an exploitation concession until 2034.

Located in the prefecture of Telimele (Kindia region), Bembou Silaty has undergone a transformation since bauxite was discovered on its land about five years ago.

Yet, on the ground, many lament the cost: Contaminated water, loss of farmland, and a steep decline in agricultural productivity.

‘No land, no money’

In the traditional bauxite heartlands of Kindia and Boke, the main roads are in notably good condition, a cut above the rest of the country. Steady jobs in technical roles or transport logistics have created economic opportunities for some Guineans.

Yet Bembou Silaty remains a quiet, peaceful village without electricity, and farming methods that are untouched by mechanisation.

Less than 2km (1.2 miles) away, however, the lush green landscape and mild climate of the rainy season give way to the electric-powered site of the Indian mining company.

There, excavators and trucks laden with bauxite constantly traverse the wide, unpaved roads, built to accommodate the heavy traffic, in a noisy, busy zone where the mining economy bulldozes its way forward.

People working in technical roles at the mine can earn up to about $300 a month.

For other locals who make a living from farming, most don’t have a regular wage and rely on the yield from their crops.

Across Guinea, an estimated half of the population depends on agriculture for their livelihood.

Locals in Bembou Silaty say every hectare claimed by mining is a hectare lost to farming, in a country that spent more than $500m importing rice in 2024.

“They give you compensation for your land, but it’s not enough, and in the end, it’s mismanaged,” Aliou said.

“Within a month or two, someone who received 50 or 100 million Guinean francs ($5,700-11,400) has nothing left. No land, no money. They have to start over, from below zero.”

Locals who still own land continue to grow rice, cassava, peanuts and cashews in the village, but they have ever less space and agricultural productivity is falling.

The village women have set up an association, “Allawalli” (which means “God help us” in Fula), to work cooperatively.

‘Not enough’

Walking through the alleys of Bembou Silaty, a few houses stand out.

They are made of cement, which withstands the rains better than the more common mud-brick homes, though many remain unfinished.

Locals say they were built with compensation money.

Fatoumata Binta Bah, a neighbour of Aliou’s, comes from a family of farmers. They once cultivated cashews, their livelihood.

Then the Indian mining company started up operations and offered them less than 50 million Guinean francs (about $5,700) for their land. That compensation, paid as a lump sum, seemed like a decent amount of money, she says.

But now, the money is gone, and their new house is still incomplete.

“The land they took from us was productive. That’s what we lived on,” said Bah, 20, as she prepared tea over a fire in the family courtyard.

“In the end, it wasn’t enough,” she lamented.

The Indian company did not respond to Al Jazeera’s questions on the purchase of land.

Meanwhile, on the outskirts of the village, surgical holes drilled into the ground mark where mining companies have tested for bauxite – a reminder to the farmers that the impact on the land is felt even before extraction begins.

In a recent report, Djami Diallo, the Guinean minister of the environment and sustainable development, stated that each year, certain companies had their impact studies and evaluation reports rejected for failing to comply with environmental standards.

Three or four companies in Boke, Kindia’s neighbouring region that is considered the bauxite capital in the country, were said to be affected. But the minister acknowledged that “just because companies do not meet the conditions to obtain the compliance certificate does not mean that everything stops.”

Clean water, the greatest challenge

Not all homes in Bembou Silaty, a community of about 5,000, have indoor toilets and plumbing. In the centre of the village, there are communal latrines for those who do not have facilities available in their homes. Showers can be taken in the same place, using a bucket and water collected from the spring.

One small gain for the community since the mining company’s arrival is a new water point in the village. The tap serves nearly all the residents. Even Aliou uses it to fill buckets for his household – for cooking and drinking – though he says he knows the water contains iron, as contamination occurs.

Still, he considers himself luckier than his friends in the neighbouring village of Koussadji Dow, who rely on now-brown, contaminated river water.

Tala Oury Sow, a trader and farmer, washes her cooking utensils in the murky river water – a daily struggle.

She starts speaking softly, surrounded by neighbours, but her voice rises to a shout.

“Do you think we can live like this?

“We had hoped the mining company’s arrival would improve things, but it has gotten worse,” she protested.

“Since the mining companies came, we’ve had this problem with the water. The children get sick, and the parents too,” added Mariama Kindi Diallo, a farmer, in her courtyard.

“The doctors tell us not to drink the rain or river water. There are no roads, no school, no phone signal. What are we supposed to do? We are asking for help to have a dignified life,” she pleaded, as her family and neighbours nodded in agreement.

The Indian company did not respond to requests for comment on these issues.

‘We need refineries here’

To escape the increasingly difficult conditions in villages like Bembou Silaty, some people leave the rural areas and head to the capital, Conakry.

Bauxite mining so dominates Guinea that one can chance upon a driver of one of the trains hauling ore from the mines to the port of Kamsar.

Alpha, who did not want his real name published, works for a United States-backed company and provides a window into the immense volume of resources being exported.

“We operate six trains of 150 wagons each day,” he said, explaining that the annual target for 2025 was to export 17.5 million tonnes of bauxite.

“The government wants to change things, because the profits we make in Guinea right now are small. We need refineries here to increase the state’s revenue,” he added.

Alpha lives near the coast, where his job has allowed him to build a house for his family and achieve a standard of living unattainable for most of his compatriots.

The government of Mamady Doumbouya, which came to power in a 2021 coup, is attempting to reorganise the mining sector. It is pressing investors to process bauxite within Guinea, ensuring a portion of the value stays in the country.

Processing bauxite into aluminium can multiply its price by 37 times.

Instability in Iran amid the US and Israel’s war has contributed to rising aluminium prices, which surpassed $3,600 per tonne in April.

Doumbouya is set to lead the country for the next seven years, after winning the December 2025 elections with nearly 87 percent of the vote. While opponents view him as illegitimate, many Guineans agree on the need to reform the mining sector.

Achieving this, however, requires a huge increase in electricity generation – power that is non-existent in villages like Bembou Silaty and unreliable even in Conakry, where blackouts are frequent when fans and TVs are switched on at night.

Guinea is working with neighbouring Senegal on a solution: Using Senegalese gas to generate enough electricity to process its bauxite on African soil. Currently, both countries export raw materials, while jobs and wealth are created elsewhere.

Following the bauxite route

More than 3,000km (1,900 miles) away, across the ocean, Spain is also a part of the Guinean bauxite story.

Parets del Valles, a municipality of 18,000 people less than 30km (19 miles) from Barcelona, represents the journey’s end.

From the town centre to its industrial outskirts, businesses specialising in aluminium are plentiful: Aluminium distribution, carpentry, and window fitting, much of them serving household needs.

For Spain, Europe’s largest consumer of Guinean bauxite, more than 90 percent of its imports come from Guinea-Conakry.

The aluminium produced there, mainly in the country’s north, feeds the automotive industry and serves both industrial and domestic purposes.

Parets is another world compared with the bauxite’s point of origin in Guinea.

In Spain, there is light, hot water, paved roads – all the base elements of a decent life. It’s why many say growing numbers of West Africans are arriving in Parets and across the Valles Oriental region. This is part of a broader trend in Catalonia and Spain, according to the Spanish National Statistics Institute (INE): The Guinean population has quadrupled in Spain since 2000 – from 2,700 to 11,000 people – and in Catalonia from 1,000 to 4,000.

These figures don’t include those who go unregistered.

Increasingly, more boats are leaving directly from Guinea, towards the Canary Islands and on to mainland Europe. According to Frontex, the European Union border security agency, more Guineans arrived in the Canary Islands, Spain, in 2023 (2,324) than in the previous 13 years combined. In 2024 and 2025 combined, another 6,000 Guineans arrived.

Migrants, predominantly men from Senegal and increasingly from Guinea, come alone, settling where they have contacts and job prospects. The newest arrivals, often very young, spend long hours with their mobile phones as their sole companion – the only tether to the country they left behind.

Many left, following the bauxite trail, hoping to find something more in the places where their resources are both enjoyed and exploited.

As Aliou, back in Bembou Silaty, says: “If you compare the bauxite we export with what we get in return, the difference is enormous. We gain almost nothing. Just enough to survive.”

This article was produced in collaboration with the Catalan association SETEM Catalunya, promoted by the Connect for Global Change consortium and Lafede.cat, and with financial support from the European Union and the Government of Catalonia (Generalitat de Catalunya)