Guinea Alumina Corporation is the bauxite mining subsidiary of Emirates Global Aluminium, the world’s largest ‘premium aluminium’ producer. We mine and move bauxite, the ore from which aluminium is derived.
Aluminium’s use plays an essential role in improving transport efficiency, reducing energy consumption and global greenhouse gas emissions. But any aluminium production starts with the mining of bauxite ore which must be undertaken with due care and respect for people and for our planet.
Guinea Alumina Corporation began bauxite exports in 2019, but our history stretches back to 2001. It was a long journey to get to where we are today, one that gained full momentum when we were wholly--acquired by Emirates Global Aluminium in 2013.
Global Alumina, a Canadian company, obtains a mining concession from the Guinean government.
Global Alumina sells a majority interest to BHP Billiton (33.33 per cent), Mubadala (8.33 per cent) and Dubai Aluminium (25 per cent), while maintaining a holding of 33.33 per cent.
The worldwide financial crisis has repercussions on the ability and interest of certain shareholders to finance their contribution in equity capital. Despite these difficulties, the parties involved in the project succeed in maintaining a certain number of commitments, as well as several social and environmental activities in the geographic area of the project.
Mubadala and Dubai Aluminium complete the acquisition of 100 per cent of GAC.
Dubai Aluminium and Mubadala’s Emirates Aluminium merge to form Emirates Global Aluminium.
The scope of the GAC project is ratified by the Guinean National Assembly following the signing, ratification and promulgation of the mining agreement and the signing of an addendum. Construction begins. The project will cost some $1.4 billion to develop, one of the largest greenfield investments in Guinea in 40 years.
GAC Director General Mamady Youla is appointed Prime Minister. GAC’s Board of Director appoints Aissata Beavogui as Director General, making her the first women to hold such a high position in an international company in Guinea.
GAC’s construction reaches 75 per cent completion. At peak, more than 4,650 people worked in construction, 85 per cent of them are Guineans and 67 per cent from the Boké region.
GAC secures the largest ever project financing for a greenfield mining project in Guinea – a US$ 750 million loan extended by development finance institutions, export credit agencies and international commercial banks.