EGA halts Guinea operations, citing gov’t seizure of bauxite mine: Emirates Global Aluminium (EGA) has shut down its operating subsidiary in Guinea just a few weeks after the Guinea government seized its mine, according to a statement. The firm terminated its presence and control over its sites in the country as of last Friday.

What happened? Guinea had earlier this month transferred ownership of GAC’s bauxite mining lease from the Dubai-based firm to a newly established state-owned company, after earlier suspending the company’s shipments in October. The government had claimed that EGA failed to fulfill its commitment to build an alumina refinery, and the move is part of a wider push to gain more control over the country’s natural and mineral resources.

No update on its legal action against Guinea: EGA had also reportedly been seeking redress for the Guinea government’s actions, which it said was a “flagrant violation” of its rights.

REMEMBER- The firm is pivoting quickly — to Ghana: EGA isin therunning to potentially develop Ghana’s Nyinahin Hills bauxite deposit following the government’s termination of a USD 1.2 bn lease with local firm Rocksure International. The aluminum producer had signed an MoU with Ghana’s state-owned Ghana Integrated Aluminum Development Corporation in June to explore mining projects in the West African nation.

It also has bigger plans in the US (and at home): The firm will develop a USD 4 bn primary aluminum production plant in Oklahoma — the first such US facility since 1980 — with production set to begin in 2030. It’s also reportedly revisiting plans toIPO, though it’s still unclear which out of the Dubai and Abu Dhabi bourse it will go for, and what the potential timeline for the listing is.

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