United Arab Emirates: Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, today announced it has signed a three-year agreement to supply China’s Bosai Minerals Group with bauxite ore from the Republic of Guinea.
Under the agreement, EGA will supply Bosai Minerals Group with several million tonnes of bauxite ore each year, with the first shipment expected in January 2022. EGA has supplied Bosai Minerals Group over one million tonnes of bauxite in 2021 under short-term agreements. Bauxite is the ore from which aluminium is derived.
EGA’s bauxite mining subsidiary Guinea Alumina Corporation made the company the second-biggest supplier in the world last year of bauxite ore to third-party customers. GAC began production in 2019.
Mr. Yuan Zhilun, Chairman of Bosai Minerals Group, said today: “We welcome EGA as a long-term supplier of bauxite to Bosai Group, and look forward to the reliable supply of Guinean ore over the years ahead to drive our business.”
Abdulnasser Bin Kalban, Chief Executive Officer of EGA, said: “EGA is now a major player in the merchant bauxite market, and our strategy mirrors our approach for cast metal – consistent high quality, reliably supplied, and with a focus on building mutually-beneficial relationships with our customers. We are delighted that Bosai Minerals Group joins a group of long-term EGA bauxite customers that is geographically-balanced in four key regions.
EGA invested some $1.4bn in the development of GAC, one of the largest greenfield investments in Guinea in the past 40 years. GAC operates a 690-square kilometre mining concession, located in the northwest of Guinea. Once mined, bauxite is transported to GAC’s port at Kamsar by train using shared rail infrastructure.
EGA operates a transshipment facility in Guinea, enabling its bauxite to be shipped using giant Capesize vessels, lowering shipment costs per tonne.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
