Mining Guinea ‘to pull EGA’s licence over alumina refinery row’ By Reuters May 9, 2025, 10:43 AM Alamy via Reuters Guinea is aiming to revoke EGA's mining licence Guinea wants to revoke EGA’s mining licence Argument over alumina refinery Could disrupt aluminium supply chain The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension of the Emirati company’s bauxite exports and mining operations. The move by Guinea, the world’s second-largest bauxite exporter, threatens to further disrupt global aluminium supply chains and signals the resource-rich country’s hardening stance toward foreign miners as the junta that seized power in September 2021 pushes for more local processing of minerals. “The Guinean government’s action was taken following EGA’s failure to keep its promise to build an alumina refinery,” a source close to the situation said, requesting anonymity. A second source within Guinea’s Ministry of Mines told Reuters that officials had sent a final reminder to EGA regarding its refinery commitments, but the company did not respond. A key point of the letter revolved around financing for the refinery, the source said. Emirates Global Aluminium, equally owned by Abu Dhabi sovereign wealth fund Mubadala, and Dubai sovereign wealth fund, the Investment Corporation of Dubai, began operating in Guinea in 2019 through its Guinea Aluminium Corporation subsidiary, and exported around 14 million metric tons of bauxite in 2022. In May 2022 the government extended a deadline for bauxite miners to present their refinery plans, and signed a non-binding agreement with EGA’s local subsidiary in June 2024 for a 2 million metric ton capacity refinery to be constructed by September 2026. EGA reveals sharp drop in profits EGA signs alumina supply agreement with Alcoa John Manners-Bell: Trust is paramount as Gulf states deepen African investment The company was forced to declare force majeure after its bauxite exports were suspended in October last year, ultimately putting hundreds of employees on furlough, according to sources and a company contracted to carry out mining operations. The company said in a statement to Reuters on Wednesday that it was working with Guinea to reach a resolution and resume operations. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
