Latest news with #alumina
Yahoo
11-07-2025
- Business
- Yahoo
EGA claims Guinea wrongfully terminated agreement with subsidiary
Emirates Global Aluminium (EGA) has announced that the Republic of Guinea's government has wrongfully terminated a basic agreement signed with its subsidiary, Guinea Alumina Corporation (GAC). This decision has led to the implementation of redundancies in the Boké region that will initially impact more than 2,000 employees and contractors. In June 2024, GAC signed a term sheet with Guinea for the development of an alumina refinery with an initial annual capacity of 1mt. However, in October 2024, the Guinean government initiated actions that hampered its operations in the country, which included blocking EGA and GAC's operations, suspending GAC's bauxite exports and denying access to shared rail infrastructure, leading to the suspension of GAC's mining operations. Despite facing significant economic, technical, and environmental hurdles, GAC made substantial efforts to resume operations and advance the development of the alumina refinery. The government of Guinea reportedly commenced the process to revoke EGA's mining licence in May 2025. EGA and GAC are preparing to defend their rights in international tribunals and seek compensation for the losses incurred. Emirates Global Aluminium CEO Abdulnasser Bin Kalban stated: 'These actions have made the continuation of GAC's operations and the development of an alumina refinery impossible. The job losses this will cause, and the opportunity loss to the Guinean economy, are deeply regrettable. 'We have maintained GAC's employee workforce in difficult circumstances for as long as possible. Our focus has been to honour the economic and social commitment to our people, their families and to the Republic of Guinea.' GAC, a major investor in Guinea's mining sector for more than four decades, has created 3,200 jobs, with Guinean citizens holding 96% of these positions. The company has generated economic opportunities and substantial revenues for Guinea, including $244m of direct expenditures in 2024 alone. In May 2025, Guinea's military government cancelled 129 exploration permits as part of a broader strategy to consolidate control over mining resources and attract new investments. The state-run Compagnie des Bauxites de Guinée halted all bauxite deliveries to EGA in the United Arab Emirates. This forced EGA to seek alternative sources for bauxite, disrupting their supply chain. "EGA claims Guinea wrongfully terminated agreement with subsidiary" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
09-07-2025
- Business
- Zawya
Emirates Global Aluminium says Guinea wrongfully terminated deal
Emirates Global Aluminium said on Wednesday that the Guinean government had wrongfully terminated an agreement with its subsidiary, Guinea Alumina Corporation, after a year-long dispute over the construction of an alumina refinery. Guinea's military government suspended GAC's bauxite exports and mining operations as part of West Africa's military-led states' increasingly aggressive push to extract greater benefits from their vast natural resources. The junta which seized power in 2021 in the world's second-largest producer of bauxite, the primary ore used to produce aluminum, had demanded that miners present plans to build refineries in order to generate capital for the country. EGA, equally owned by the Abu Dhabi sovereign wealth fund Mubadala and Dubai sovereign wealth fund the Investment Corporation of Dubai, said in a statement that it plans to pursue remedies through international tribunals. "These actions have made the continuation of GAC's operations and the development of an alumina refinery impossible," Abdulnasser Bin Kalban, chief executive officer of EGA, said in the statement. GAC will move ahead with the necessary process to make significant redundancies, which will initially affect more than 2,000 employees and contractors, the company said in the statement. "We have maintained GAC's employee workforce in difficult circumstances for as long as possible," Kalban added. Guinea's government did not immediately respond to a request for comment. Despite Guinea's stricter regulations, bauxite exports jumped 36% to a record 99.8 million metric tons in the first half of 2025, driven by robust Chinese demand.
Reuters
23-06-2025
- Business
- Reuters
ERG plans to produce critical mineral gallium in Kazakhstan next year
LONDON, June 23 (Reuters) - Eurasian Resources Group plans to invest $20 million in facilities to produce critical mineral gallium in Kazakhstan from next year, from the bauxite ore it processes to produce alumina, the company said in a release on Monday. Gallium is on the U.S. and European Union's lists of critical minerals. It is needed for the manufacture of semiconductors for electronics and radar systems and missile guidance electronics in aerospace and defence. ERG's plans would make Kazakhstan, which until now has produced no gallium, the world's second largest producer after China. "ERG plans to become a significant player in the global market for gallium, starting production in 2026 to supply OECD countries, with a view to expanding annual volumes up to 15 metric tons per annum," ERG CEO Shukhrat Ibragimov said. Global gallium production totalled 760 tons last year according the U.S. Geological Survey. Most was from China and very small amounts from Japan, Korea and Russia. China banned the export of gallium, germanium and antimony to the United States last December in response to a crackdown on China's chip sector by Washington. Although the outright ban only applies to the United States, in the 18-months prior to the suspension, China had steadily introduced export licensing regimes for the three metals. Alumina is used to smelt aluminium.
Yahoo
23-06-2025
- Business
- Yahoo
ERG plans to produce critical mineral gallium in Kazakhstan next year
By Pratima Desai LONDON (Reuters) -Eurasian Resources Group plans to invest $20 million in facilities to produce critical mineral gallium in Kazakhstan from next year, from the bauxite ore it processes to produce alumina, the company said in a release on Monday. Gallium is on the U.S. and European Union's lists of critical minerals. It is needed for the manufacture of semiconductors for electronics and radar systems and missile guidance electronics in aerospace and defence. ERG's plans would make Kazakhstan, which until now has produced no gallium, the world's second largest producer after China. "ERG plans to become a significant player in the global market for gallium, starting production in 2026 to supply OECD countries, with a view to expanding annual volumes up to 15 metric tons per annum," ERG CEO Shukhrat Ibragimov said. Global gallium production totalled 760 tons last year according the U.S. Geological Survey. Most was from China and very small amounts from Japan, Korea and Russia. China banned the export of gallium, germanium and antimony to the United States last December in response to a crackdown on China's chip sector by Washington. Although the outright ban only applies to the United States, in the 18-months prior to the suspension, China had steadily introduced export licensing regimes for the three metals. Alumina is used to smelt aluminium.
Yahoo
23-06-2025
- Business
- Yahoo
ERG plans to produce critical mineral gallium in Kazakhstan next year
By Pratima Desai LONDON (Reuters) -Eurasian Resources Group plans to invest $20 million in facilities to produce critical mineral gallium in Kazakhstan from next year, from the bauxite ore it processes to produce alumina, the company said in a release on Monday. Gallium is on the U.S. and European Union's lists of critical minerals. It is needed for the manufacture of semiconductors for electronics and radar systems and missile guidance electronics in aerospace and defence. ERG's plans would make Kazakhstan, which until now has produced no gallium, the world's second largest producer after China. "ERG plans to become a significant player in the global market for gallium, starting production in 2026 to supply OECD countries, with a view to expanding annual volumes up to 15 metric tons per annum," ERG CEO Shukhrat Ibragimov said. Global gallium production totalled 760 tons last year according the U.S. Geological Survey. Most was from China and very small amounts from Japan, Korea and Russia. China banned the export of gallium, germanium and antimony to the United States last December in response to a crackdown on China's chip sector by Washington. Although the outright ban only applies to the United States, in the 18-months prior to the suspension, China had steadily introduced export licensing regimes for the three metals. Alumina is used to smelt aluminium. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
