Guinea and Emirates Settle Long-Standing Bauxite Dispute

Guinea and Emirates Global Aluminium have resolved their conflict over Guinea's seizure of bauxite operations. A new agreement will transfer assets to the state-owned Nimba Mining Company, allowing for the resumption of bauxite shipments. This move aligns with Guinea's effort to enhance value from its mineral resources.

Guinea and Emirates Global Aluminium (EGA) have reached a settlement regarding their longstanding dispute over the seizure of local bauxite operations, both parties announced on Wednesday. The agreement should pave the way for renewed bauxite shipments from Guinea.

The resolution will see Guinea pay a lump sum to EGA in return for the transfer of assets from the Guinea Alumina Corporation to Nimba Mining Company, a state-owned entity. This move follows last year's asset seizure by Guinea amid plans to construct an alumina refinery. The financial terms of the deal were not disclosed.

This agreement also includes the renewal of bauxite supply contracts between Compagnie des Bauxites de Guinée and EGA under conditions favorable to both parties. The deal comes amidst Guinea's tightened mining regulations, seeking better returns from its mineral resources, and falls in line with objectives set by the Simandou Strategic Committee.