UAE's EGA to launch Guinea mine ops in 2018
The project will develop an initial 12million tonnes per annum (Mtpa) bauxite mine in the Republic of Guinea
Emirates Global Aluminium (EGA) is set to begin construction on a major bauxite mine in the Republic of Guinea.
The work will secure supply of the raw material for its primary aluminium production facilities in the UAE and create a new, substantial revenue through significant exports to Asia.
The first phase, which will be managed through subsidiary Guinea Alumina Corporation, has been given final approval by EGA's board of directors.
The project will develop an initial 12million tonnes per annum (Mtpa) bauxite mine in the Republic of Guinea, where the company holds a concession on more than 1billion tonnes of bauxite.
It will also include the construction of a dedicated export terminal at Port Kamsar and upgrades to existing rail infrastructure for in-land logistics.
The mines is scheduled to begin production in 2018 with plans to export bauxite via Port Kamsar to the Middle East and Pacific markets.
The development project is estimated to create about 4,000 direct and indirect jobs in the Boké region, increase Guinea's GDP by more than 10 percent annually.
Abdulla Kalban, MD & CEO, EGA, said: "The investment builds on our plan to secure EGA's supply chain and capitalise 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-competivie assets."