Sign in
Emirates Global Aluminium (EGA) subsidiary Guinea Alumina Company (GAC) is on track to set up an alumina refinery with an initial annual capacity of 1 mn tonnes in Guinea, after inking a term sheet with the Guinean government for construction yesterday, according to a statement. The statement did not disclose the investment ticket for the refinery, though a mines ministry official told Reuters some USD 4 bn is expected to be invested in the project.
The details: The refinery will be located in the Boke region where GAC currently operates a bauxite mine and export facility. It is slated for completion in September 2026, senior officials from Guinea’s mines ministry told Reuters.
Who’s in? The company will set up a joint venture with other companies to work on the project. One of the officials told Reuters the Aluminium Corporation of China will partner with GAC on the project.
The Guinean government will own a 15% stake in GAC as part of the agreement, which will later be converted into a 10% share in mining operations and a 7.5% stake in GAC’s joint venture, according to the statement.
We knew this was coming: EGA inked a framework agreement with Aluminium Corporation of China (Chinalco) to develop an alumina refinery in Guinea at the start of the month, after GAC Director-General Youssef Sylla had revealed in February plans to develop the Guinea refinery. The agreement will see the two firms build the facility through a joint investment. EGA began operating in Guinea in 2019, and exported some 14 mn metric tons of bauxite in 2022.
