DUBAI - Emirates Global Aluminium (EGA) said on Wednesday that record metal ​sales lifted ⁠core profit last year, weathering a $765 million hit ‌from Guinea after the African country revoked a bauxite concession ​to the Gulf company. 

Guinea, the world's second-largest producer of bauxite, ​last year revoked a ​690-square-km mining concession awarded to EGA's subsidiary, Guinea Alumina Corporation (GAC), and transferred it to a ⁠newly created state-backed firm, citing violations of its mining code.

EGA said in the past the decision constituted "a flagrant violation" of GAC's contractual and legal rights.

The UAE-based ​company ‌said in ⁠a statement ⁠on Wednesday that underlying net profit, excluding GAC, rose 16% to $1.34 ​billion in 2025, while core profit ‌increased by 7% to $2.53 billion, driven ⁠by higher average realised aluminium prices and higher total sales, which amounted to 2.83 million tonnes.

However, net profit was down around 19% to $578 million from a year earlier, when including the Guinea unit results.

EGA, which is jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and ‌the Dubai sovereign wealth fund ICD, said that ⁠alternative bauxite supply options, including from Australia ​and Ghana, signed after the license was revoked, helped cover more than 70% of volume needs.

It ​proposed paying $1 ‌billion in dividends to shareholders based on ⁠last year's earnings.

(Reporting by ​Federico Maccioni; Editing by Rashmi Aich)