{"id":92877,"date":"2024-06-10T00:00:00","date_gmt":"2024-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/emirates-global-aluminium-inks-agreements-for-alumina-refinery-in-guinea\/"},"modified":"2024-06-10T00:00:00","modified_gmt":"2024-06-10T00:00:00","slug":"emirates-global-aluminium-inks-agreements-for-alumina-refinery-in-guinea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/10\/emirates-global-aluminium-inks-agreements-for-alumina-refinery-in-guinea\/","title":{"rendered":"Emirates Global Aluminium inks agreements for alumina refinery in Guinea"},"content":{"rendered":"

Emirates Global Aluminium (EGA) subsidiary Guinea Alumina Company <\/strong>(GAC) is <\/strong>on track to set up an alumina refinery with an initial annual capacity of 1 mn tonnes in Guinea,<\/strong> after inking a term sheet with the Guinean government for construction yesterday, according to a statement<\/a>. The statement did not disclose the investment ticket for the refinery, though a mines ministry official told Reuters<\/a> some USD 4 bn is expected to be invested in the project. <\/p>\n

The details: <\/strong>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\u2019s mines ministry told Reuters.<\/span><\/p>\n

Who\u2019s in? <\/strong>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. <\/p>\n

The Guinean government will own a 15% stake in GAC <\/strong>as part of the agreement, which will later be converted into a 10% share in mining operations and a 7.5% stake in GAC\u2019s joint venture, according to the statement. <\/p>\n

We knew this was coming: <\/strong>EGA inked a framework agreement with Aluminium Corporation of China (Chinalco) to develop an alumina refinery in Guinea at the start of the month<\/a>, 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. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Guinean government will get a 15% stake in GAC as part of the agreement, set to be converted into project shares<\/p>\n","protected":false},"author":1,"featured_media":92878,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1545],"tags":[871,7,64,614],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-emirates-global-aluminium","tag-enterpriseam-uae","tag-manufacturing","tag-mining","wpautop","entry"],"acf":{"mongo_id":"2d36ebe4-aca5-499f-9ee0-9e14b8e0f2f0","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/827.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emirates Global Aluminium inks agreements for alumina refinery in Guinea","related_issue":[92870],"teaser":"The Guinean government will get a 15% stake in GAC as part of the agreement, set to be converted into project shares","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.c05a2292-65c4-4751-aa9d-a5091719f9e6.mp3"},"yoast_head":"\nEmirates Global Aluminium inks agreements for alumina refinery in Guinea - 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