Guinea cancels bauxite concession awarded to Kebo Energy SA
May 12 (Reuters) - Guinea has cancelled a bauxite mining concession granted to Kebo Energy SA over its failure to deliver on promised investments, according to a statement broadcast on state television.
The cancellation was announced late on Friday, with state television citing a decree issued by junta leader Mamady Doumbouya, who seized power in a coup in 2021.
A senior Guinean mining official confirmed that the concession had been cancelled.
A source close to Kebo Energy SA said the company had failed to raise sufficient funding for the project, which included building an alumina refinery. A spokesperson for Kebo Energy SA could not be reached for comment.
Last week, Reuters reported Guinea's government had moved to revoke Emirates Global Aluminium's (EGA) mining licence over the company's failure to fulfil its commitment to construct an alumina refinery.
Guinea has also cancelled a gold permit previously awarded to Guiter Mining SA, according to Friday's statement. Guiter Mining SA did not respond to a request for comment.
Military-led governments in Guinea, Mali, Niger and Burkina Faso have pushed to rewrite mining laws and contracts after seizing power in coups in recent years.
In some cases they have detained mining executives, suspended operations and seized products as they demand greater control and revenue of mineral resources.
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