SMB, Winning sign deal with Guinea for alumina refinery [Reuters]
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Source: Reuters
SMB, Winning sign deal with Guinea for alumina refinery | Reuters 2 Min Read DAKAR, Nov 26 (Reuters) - A consortium of the Societe Miniere de Boke (SMB) and Singapore’s Winning Shipping signed an agreement on Monday with Guinea’s government to build the country’s first refinery of alumina, which is used to make aluminium. The 1 million tonne per year refinery is part of a $3 billion project to develop Guinea’s bauxite industry, the largest in Africa. The West African nation is home to about a third of the world’s bauxite reserves, and output of the aluminium ore more than doubled last year to about 50 million tonnes on the back of investments by aluminium giant Alcoa , Rio Tinto Alcan and private investment gorup Dadco. But the country has no facilities to transform those reserves into higher-grade alumina, which can fetch higher prices on world markets. In a statement on Monday, the consortium said it had signed three agreements with the Guinean government for construction of the pro
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