Welcome to Refwin.com Sign In Join Free Home Inquiry Contact Mobile Publications Free E-Weekly News
  • Directory
  • Price
  • Market
  • Buy
  • News
  • Calendar
  • Dictionary
Company News Industry News Refwin in the News Home > News

Chalco to Invest in US$500 Million Bauxite Project in Guinea

2017-08-18

Aug. 18, 2017 - The government of the Republic of Guinea announced earlier this week that the People’s Republic of China’s Aluminum Corporation of China Limited (Chalco) will be investing US$500 million in a bauxite ore project in the country.


The Guinean government secured the deal after a visit to Beijing by Guinea’s mines minister Abdoulaye Magassouba. It is the most recent in a series of investments by China in the country.

“The reserves of bauxite abandoned by BHP Billiton will eventually be exploited from 2018 by Chalco,” explained the mines ministry’s secretary general Saadou Nimaga.


The project, which is to be carried out 125 miles northeast of Conakry at Boffa in the Boké Region, is the first in a three-phase plan that will ultimately yield primary aluminium production.

Chalco is a publicly-traded subsidiary of the state-run firm Aluminum Corporation of China (Chinalco). The announcement comes as Chalco reports a tenfold increase in net profit year-on-year, largely credited to the recovery of aluminium prices at the LME and SHME.

Chinalco already has a significant presence in the country thanks to, among other things, the gargantuan Simandou iron ore project, which is estimated to be among the world’s largest iron ore reserves. Chinalco bought the rights to the project from Rio Tinto after recordings surfaced that seemed to suggest that one of President Alpha Condé’s close advisors received millions from Rio Tinto in exchange for the Simandou concession.

Guinea sits atop the largest reserves of bauxite of any country on Earth, boasting reserves of up to forty billion tons. Rio Tinto and Alcoa both have substantial operations in country, as do China’s Hongqiao and Russia’s Rusal. The Middle Kingdom has been angling for increasing its presence in the Guinean bauxite market for several years, with exports from Guinea to China expected to double in the course of the current year.

About Us Site Map Service Our Partners Links Inquiry Contact FAQ Privacy Statement Technical Support

Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.

Copyright © 2005-2020 Refractories Window All Rights Reserved

Tel: +86-315-5918500 Fax: +86-315-5918828 Email: info@refwin.com

ICP经营许可证编号: 冀B2-20060049 ICP备案号: 冀ICP备17015545号

冀公网安备 13024002000198号 营业执照