Emirates Global Aluminum (EGA) has announced that it will begin construction on a major bauxite mine in the Republic of Guinea. The mine will supply high quality raw aluminium for the company’s primary aluminium production facilities across the UAE, creating a new revenue stream through Asian exports.
The company received final approval from its board of directors to launch the first phase of the mine which will be managed through Guinea Alumina Corporation, a subsidiary of EGA.
Earmarked for a 2018 production date, the bauxite mine will develop an initial 12 million tonnes per annum in the Republic of Guinea.
Abdulla Kalban (Managing Director & Chief Executive Officer of EGA) said, “This investment builds on our plan to secure EGA’s supply chain and capitalize on growth in the third party bauxite market.”
“Despite the prevailing challenges facing the aluminium industry, we remain confident in the long-term outlook for the sector, and believe it is the right time for us to invest in high-quality, cost-competitive assets.” He adds.
“We have built a strong presence in-country with the support of the government and people of Guinea, and we will continue our work to support local communities there – including training of more than 200 Guineans in the UAE for deployment to key roles in our business.”
Up to 4,000 jobs are expected to be created through the development project. With expectations that China’s demand for high quality bauxite will grow significantly over the next decade, the mine will increase Guinea’s GDP by an estimated 10 per cent.