Guinea moves to cancel mining rights of non-compliant companies

me-metals: Guinea’s transitional President General Mamadi Doumbouya instructed his government to withdraw permits and concessions from mining companies that don’t respect their legal commitments to the country.

According to me-metals cited from mining.com, The head of state has “reiterated that compliance with contractual commitments and deadlines is non-negotiable,” Minister of Information and Communication Fana Soumah said late Thursday on state broadcaster Radio Television Guineenne.

Soumah didn’t name companies that may be affected by the measures. The announcement came after Bloomberg reported that Guinea plans to cancel a bauxite mining license held by a unit of Emirates Global Aluminium because the company refused to build an alumina refinery.

Doumbouya congratulated China’s State Power Investment Corp. for starting work on an alumina processing plant, according to Soumah. “This initiative marks an important step in the local processing of bauxite and the industrialization of the country,” the minister said.

Guinea is the world’s top producer of bauxite, a raw material that’s refined into alumina, which is then smelted into aluminum.

source: mining.com