Republic of Guinea: Guinea Alumina Corporation SA (GAC), a major player in the mining sector in the Republic of Guinea, today announced the awarding of an engineering consulting and program management contract to Fluor Corporation for its bauxite mine under construction in the Republic of Guinea.
The total value of contracts and purchases to be managed by Fluor is approximately $700 million.
Fluor will work with GAC to develop a bauxite mine of 12 million tonnes per year in the Boké region, to develop a port terminal at Kamsar on the Guinean coast, and the modernization of a railway and other infrastructure.
Fluor is a global engineering company headquartered in the United States. Fluor completed the GAC feasibility study in the second quarter of 2016.
The total investment cost of the GAC project is $1 billion, the largest single new investment project for the development of a bauxite mine in Guinea in the last forty (40) years. The project will increase Guinea's GDP by more than 10 percent a year and an estimated 4,000 direct and indirect jobs will be created.
Production from the mine is scheduled for 2018.
Bauxite is a mineral that is refined into alumina, the raw material for aluminum smelters.
Abdulla Kalban, Chief Executive Officer and Managing Director of Emirates Global Aluminum (EGA), GAC's parent company said, "The awarding of this contract represents a major step forward in our project in Guinea, which is of economic importance for Guinea and the United Arab Emirates. I am satisfied with our progress in Guinea so far."
Rick Koumouris, Fluor's President, Mining & Metals said, "Fluor has worked with GAC since the preliminary phase of the project to develop a customized and efficient capital design to meet the unique business objectives of the society. We will leverage our global expertise in marine structures, port terminals, and ore processing, in addition to our experience in Guinea, to deliver innovative project design and execution solutions that improve capital profitability."
Last October, GAC inaugurated its new commercial wharf at Kamsar Port. This new commercial wharf is an important infrastructure that will not only allow Kamsar to import materials for railway, road works, and other major construction projects but also to export bauxite samples. Once the work is completed, the wharf will be handed over to the Guinean government, thus contributing to the local economy.