SOGUIPAMI to negotiate for expansion of bauxite commercialize rights
2019-12-18 17:51:49 [Print]
Guinea-based SOGUIPAMI is in talks with a number of foreign miners for the right to commercialize bauxite in a proportion of state ownership.
SOGUIPAMI is a state-owned enterprise under the authority of the Ministry of Geology and Mines of Guinea.
According to the current Mining Law of Guinea, foreign mining enterprises applying for the right to exploit mineral resources in Guinea must register and set up legal person enterprises in Guinea and the Guinean government must take a stake in the company.
The Winning Group is incorporated in Guinea by Boke Mining (SMB), in which the government has a 10% stake. In AMR, a French company, the government has a 15% stake. The government has a 15% stake Bel Air Mining SA, an incorporated company under UK's Alufer Mining.The Guinean government will entrust all its legal shares in foreign mining companies to SOGUIPAMI for management, preservation and appreciation. Recently, these companies had a talk with SOGUIPAMI for the right to commercialize bauxite.
Later, SOGUIPAMI plans to enter talks with Henan International Mining and GDM, a private mining company based in Guinea.
In 2018, SOGUIPAMI has reached an agreement with CBG to commercialize bauxite in a dry-share ratio. SOGUIPAMI received a commission of GNF11.2 billion (USD1.2 million) for the sale of 300,000 tons of bauxite to Dadco Alumina and Chemicals Limited through an international public tender. The success of the trial urged the company to promote the successful model to increase the government's revenue.
SOGUIPAMI is a state-owned enterprise under the authority of the Ministry of Geology and Mines of Guinea.
According to the current Mining Law of Guinea, foreign mining enterprises applying for the right to exploit mineral resources in Guinea must register and set up legal person enterprises in Guinea and the Guinean government must take a stake in the company.
The Winning Group is incorporated in Guinea by Boke Mining (SMB), in which the government has a 10% stake. In AMR, a French company, the government has a 15% stake. The government has a 15% stake Bel Air Mining SA, an incorporated company under UK's Alufer Mining.The Guinean government will entrust all its legal shares in foreign mining companies to SOGUIPAMI for management, preservation and appreciation. Recently, these companies had a talk with SOGUIPAMI for the right to commercialize bauxite.
Later, SOGUIPAMI plans to enter talks with Henan International Mining and GDM, a private mining company based in Guinea.
In 2018, SOGUIPAMI has reached an agreement with CBG to commercialize bauxite in a dry-share ratio. SOGUIPAMI received a commission of GNF11.2 billion (USD1.2 million) for the sale of 300,000 tons of bauxite to Dadco Alumina and Chemicals Limited through an international public tender. The success of the trial urged the company to promote the successful model to increase the government's revenue.
Bauxite Guinean 45%min CIF China
Unit:USD/dt
China bauxite producers' inventory statistics by province by month
Unit: mt
