It is the largest greenfield project of the last four decades in the country and is already now providing a powerful boost to its economy: the Guinea Alumina Corporation (GAC) is developing a large open pit bauxite mine in the West African country in addition to the rail and port infrastructure needed to ship the ore to Abu Dhabi where its parent company, Emirates Global Aluminium (EGA), is constructing the UAE’s first alumina refinery which is expected to enter into operation next year.
Guinea sits atop one third of the world’s proven reserves of bauxite. With global demand for alumina strengthening almost continuously, the West African country has sparked the renewed interest of mining companies. A number of projects have been initiated, none larger or more comprehensive in scope than GAC’s mine near Boké in the north-western region of Guinea.
GAC has structured its project with a view to forging a tight partnership with the host country. The company is in Guinea for the long haul – the Boké concession runs for 25 years and is automatically renewable for another quarter century – and seeks to help Guinea develop not just the national economy but its human resources as well. GAC maintains a vast training programme to help Guineans acquire the skills needed to run the company’s entire operation. It is GAC’s stated goal to have, before long, a complete Guinean team of professionals in place to operate its facilities in the country. The company has also initiated a comprehensive corporate social responsibility programme to help local communities and implemented a set of environmental policies that exceed globally accepted standards.
The CFI.co judging panel notes that GAC runs one of the safest mining operations in West Africa and, once fully operational, is expected to contribute up to $400 million annually to the country’s exchequer. The judges are most pleased to offer Guinea Alumina Corporation (GAC) the 2018 Best ESG Mining Project West Africa Award.