Guinea agrees to payout to EGA for resumption of bauxite trade
2026-05-07 10:25:23 [Print]
Guinea has reached a settlement with Emirates Global Aluminium (EGA), resolving a long-running dispute over the seizure of the company's local operations and paving the way for the resumption of bauxite shipments, both parties announced in separate statements on Wednesday.
The deal, which remains subject to certain conditions, requires Guinea to pay a lump sum to the Abu Dhabi-based miner in exchange for transferring the assets of Guinea Alumina Corporation (GAC) to the state-owned Nimba Mining Company. Financial terms of the agreement were not disclosed.
As the world's largest supplier of bauxite-the primary feedstock for aluminum-Guinea seized GAC's operations last year amid disagreements over plans to build an alumina refinery. The assets were subsequently transferred to Nimba Mining Company, which has since resumed mining and exports from the concession.
Following the halt in exports, EGA sought alternative sources of bauxite, including potential supplies from Ghana.
Reuters had previously reported that Conakry and EGA were close to reaching a deal to end the stalemate and allow bauxite shipments to restart.
According to the statements, the agreement includes Guinea's payment to GAC in exchange for transferring assets linked to the Sangaredi bauxite project. It also provides for the renewal of bauxite supply agreements between Compagnie des Bauxites de Guinee (CBG) and EGA under mutually favorable terms.
The deal, which remains subject to certain conditions, requires Guinea to pay a lump sum to the Abu Dhabi-based miner in exchange for transferring the assets of Guinea Alumina Corporation (GAC) to the state-owned Nimba Mining Company. Financial terms of the agreement were not disclosed.
As the world's largest supplier of bauxite-the primary feedstock for aluminum-Guinea seized GAC's operations last year amid disagreements over plans to build an alumina refinery. The assets were subsequently transferred to Nimba Mining Company, which has since resumed mining and exports from the concession.
Following the halt in exports, EGA sought alternative sources of bauxite, including potential supplies from Ghana.
Reuters had previously reported that Conakry and EGA were close to reaching a deal to end the stalemate and allow bauxite shipments to restart.
According to the statements, the agreement includes Guinea's payment to GAC in exchange for transferring assets linked to the Sangaredi bauxite project. It also provides for the renewal of bauxite supply agreements between Compagnie des Bauxites de Guinee (CBG) and EGA under mutually favorable terms.
Bauxite Australian Monohydrate 50%min CIF China
Unit:USD/dt
China bauxite producers' sales to production ratio statistics by province by month
Unit: %
