Guinea Alumina Corporation (GAC) today announced its first export of bauxite ore, marking the completion of major construction and the start of commer...
Guinea Alumina Corporation (GAC) today announced its first export of bauxite ore, marking the completion of major construction and the start of commercial production for one of Guinea’s most important mining projects.
The GAC project is a wholly owned subsidiary of Emirates Global Aluminium (EGA) and one of the largest greenfield investments in Guinea in the last 40 years costing $1.4bn to develop. GAC’s Director General, Aissata Beavogui, commented: “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.
“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.”
Around 1,000 permanent jobs have been created to operate the GAC project. GAC has invested more than $1.3 million on GAC Skills, a programme to develop high potential Guineans for permanent roles in the organisation.
GAC is expected to make a direct, indirect and induced economic impact of some $700 million each year in Guinea once production is fully ramped-up, a 5.5 per cent boost to the national economy.
GAC mines and exports metallurgical-grade bauxite. A wholly owned subsidiary of Emirates Global Aluminium (EGA), based in the United Arab Emirates, the company operates a mining concession located in the northwest of the Republic of Guinea, in West Africa. Once mined, the ore is sent by rail to the company’s port facilities at Kamsar, on the country’s Atlantic coast, and then shipped by sea to world markets. GAC employs 1,000 people and produces 12 million tonnes of bauxite a year. Its current mining plan provides for operations up to 2040.