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Guinea bauxite investment continued to progress
Aug 22, 2017

Guinea bauxite investment continued to progress

1., Guinea Ministry of Geology and mineral resources signed a letter of intent on cooperation with Chinalco in China

The official website of the Ministry of Geology and mineral resources of Guinea province in August 17th reported that Guinea mining minister Ma Gia Subba led the delegation's visit to China recently, Guinea mining group, August 13th and Chinese aluminum bauxite mining project Bo law area signed a letter of intent cooperation framework.

Guinea's mining Ministry says it plans to invest $500 million in a bauxite project starting next year. Bauxite is used to make aluminium.

The project is located in the province of Bo, about 200 kilometers from the capital Karnak.

The $500 million investment will be the first phase of the three phase of investment, including aluminum production.

Last October, Rio Tinto agreed to sell Chinalco's stake in Guinea's large Simandou iron ore project to chinalco.

2. Guinea mining minister visited TBEA headquarters

According to the official website of the Ministry of Geology and mineral resources of Guinea province are reported in August 16th, China visited Guinea mining minister Ma Gia Subba recently went to the Xinjiang Uygur Autonomous Region for a visit, the headquarters of the Limited by Share Ltd tbea.

TBEA Guinea plans to invest in a number of projects:

1, the first is bauxite mining project, TBEA plan in Guinea T l Mel province Santou bauxite mining.

2, in addition to mine bauxite ores, TBEA plans to invest in the construction of an alumina factory, it will be following the Russian aluminium RUSAL in Guinea FRIGUIA alumina factory Guinea second alumina plant.

3. Build a railway to transport bauxite.

4, the construction of a hydropower station in the Amaria River, installed capacity of 600 thousand kilowatts.

5. Build a deepwater port.

Following the win after the coalition, China has become one of the most popular investment in Guinea, China aluminum industry leading Aluminium Corp as the representative, the essential and the world's largest bauxite resources in cooperation, will by virtue of The Belt and Road Dongfeng, last year the company from the Rio Tinto Group took a majority stake in the Simandou iron ore, and then take. Mining right under the No. 131 bauxite mine, provide raw materials to protect the late Fangchenggang project.

The Guinea mining minister visited Chinese, the primary goal is to sign a letter of intent of cooperation as a preliminary framework of bauxite project, ensure the project progress and investment plan, the second is to discuss the TBEA group company, in Guinea bauxite mine area and supporting facilities of the investment plan, we believe that with the participation China enterprise, Guinea bauxite mining development will reach a new height.

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