Guinea signs alumina refinery agreement with UAE Global Aluminium subsidiary
June 11, 2024
Guinea has signed an agreement with a subsidiary of Emirates Global Aluminium to build the country's second large alumina refinery, two officials from Guinea's Ministry of Mines said on June 7.
The agreement calls for the construction of a refinery with a capacity of 2 million tonnes in the west of the country by September 2026. Initial production is expected to be 1.2 million tons per year.
Guinea, Africa's largest aluminium producer, has been seeking to use its mineral wealth for economic development and has pressured companies to build local facilities to refine bauxite into higher-value alumina.
One of the officials said about $4 billion is expected to be invested in the project.
The UAE Global Aluminium subsidiary started operations in Guinea in 2019, exporting around 14 million tonnes of bauxite in 2022.
Guinea currently has an alumina refinery, Friguia, owned by Rusal, the Russian aluminium giant.
Since seizing power in a coup in 2021, the Guinean military government of Mamady Doumbouya has been pushing Guinean mining companies to advance investments along the value chain by building refineries.
