Aluminium Bahrain (Alba) has signed a non-binding memorandum of understanding (MoU) with Egypt state-backed Metallurgical Industries Holding to explore the potential to develop an alumina refinery in the North African nation.

The agreement will cover potential offtake arrangements and options for equity participation in the refinery, Alba said in a statement, without disclosing further details.

Alba is dually listed on the Bahrain Bourse and the London Stock Exchange. Its shareholders are Mumtalakat Holding (69.38 percent), Saudi Arabian Mining Company (20.62 percent) and the general public (10 percent).

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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