Guinea Alumina Corporation announces its first export of bauxite ore
Guinea Alumina Corporation (GAC) announced on August 4 that its first ship loaded with metallurgical-grade bauxite sailed from transhipment location near the company’s port in Kamsar to world markets. This marks the first bauxite ore exports from GAC and the beginning of commercial production for one of Guinea’s most important mining projects.
The GAC project, a wholly-owned subsidiary of Emirates Global Aluminium (EGA), is one of the largest greenfield investments in Guinea in the last 40 years, worth $1.4 billion.
GAC’s Director General, Aissata Beavogui, said: “I am proud to announce that we did it as promised, on budget, on time, safely and responsibly. This is a great day for GAC and our employees, and a great day for Guinea.”
She also said: “Our first export of bauxite marks the start of decades of production, and we can now set our eyes on becoming a reliable world-class bauxite producer that delivers value for our shareholder and our country.”
Abdulla Kalban, Chairman of GAC and Managing Director & CEO of EGA, said: “GAC first export of bauxite ore is a landmark moment for EGA and for Guinea. For EGA, it completes our strategic expansion upstream, making us an integrated global aluminium producer. For Guinea, the project creates economic opportunity and helps the country to expand the production of its biggest natural resource.”
This project has created around 1,000 permanent jobs in Guinea, investing more than $1.3 billion on GAC skills, a programme to develop high potential Guineans for permanent roles in the organisation.
GAC expects to create a direct, indirect and induced economic impact of some $700 million each year in Guinea, a 5.5 per cent boost to the national economy, once the production at the project reaches its full capacity.
source: Alcircle
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
