(Bloomberg) —
Guinea’s ruling military junta leader set a deadline of May for bauxite mining companies considering building alumina refineries in the West African country to submit timelines for their development.
Mamadi Doumbouya gave the instruction during a meeting with miners, saying the policy is intended to increase the country’s revenue from the industry.
“From now, the transformation of raw materials on site becomes unavoidable, it is imperative and there must be no delay,” Doumbouya said in remarks televised late Friday by state-broadcaster Radio Television Guineenne.
Guinea holds the world’s largest reserves of bauxite, the raw material processed into alumina, which in turn is used to make aluminum. A dozen companies including Guinea Alumina Corp., a unit of Emirates Global Aluminium PJSC, and China-backed Societe Miniere de Boke have proposed setting up refineries.
Africa’s Top Bauxite Exporter Guinea Posts 4% Rise in Shipments
The government must evaluate these proposals and help facilitate construction of the plants, Doumbouya said.
“Compliance with agreements remains non-negotiable for us and any failure to respect deadlines on refinery construction will result in penalties,” he said.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
