Copying and distributing are prohibited without permission of the publisher

Global Alumina's Guinea alumina jv delayed; ADB provides funding

December 12, 2008 - 09:38 GMT Location: London

KEYWORDS: global alumina , guinea , bauxite , african development bank , adb , josephine mason

Global Alumina’s joint venture bauxite and alumina project in Guinea has secured the first round of its targeted $2.25 billion in funding, as the already-delayed project was postponed by another two years

“If we stick to the programme, we’re expecting commercial production by 2013,” an official in the ministry of mines told MB on December 11.

This is the second delay for the Guinea Alumina Corp project, which has also been beset by rising costs. In January the costs rose by a third to $4.3 billion and the start-up was pushed back nearly a year to September 2011 (MB Jan 31).

News of the postponement came after the African Development Bank (ADB) agreed to provide $450 million in financing for the ambitious project, which contains 10 million tpy of bauxite and will include a 3.3 million tpy alumina refinery, with ramp up to 3.6 million tpy within five years.

“It is one of seven major lenders that the joint venture is...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.

If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.

A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.

Free trial

Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.

Free trial

Already have an account?

Stainless & Special Steels

Feb 3, 2012 23:58 US molybdenum prices continue to rally
Feb 3, 2012 23:54 US silicomanganese prices up on supply tightness
Feb 3, 2012 23:49 Integrity Stainless to open new Ohio center
Feb 3, 2012 23:45 US ferrosilicon up as stainless mills ‘running hot’
Feb 3, 2012 20:57 NAS’ partial stainless price hike may foil peer mills

Comment & analysis

COMMENT: Glenstrata still has to break the mould

The news that Glencore and Xstrata are in merger talks would only come as a surprise to someone living under a rock, and only then if said rock did not contain any valuable minerals. But now that talks of a tie-up of the world’s largest metals trader and its fourth largest miner have finally moved into the boardroom, hypothetical questions have become real, and the answers are far from certain.
APEX FULL YEAR 2011: Base metal forecasts: astounding accuracy

Astounding upon astounding: that is how the 2011 leaderboard for Apex, the Metal Bulletin service that tracks the performance of over twenty top base metal price forecasters, appears when you consider it coldly.
Raising fees could imperil LME date structure: a broker writes

The London Metal Exchange plans to introduce a fee for client trades from March. The proposal has aroused some opposition, and prompted one broker to write to Metal Bulletin, requesting anonymity. Here he outlines his concerns. How justified are they? Email aharrison@metalbulletin.com, or tweet @aharrison_mb