The Government of Guinea has revoked Emirates Global Aluminium’s (EGA) bauxite concession and transferred the assets to a newly established state-backed enterprise, Nimba Mining.
The decision cited non-compliance with Guinean mining code regulations that require mining companies to present plans for building refineries.
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EGA, based in Dubai, operates in Guinea through its subsidiary, Guinea Alumina Corporation (GAC).
This operation encompasses a mining concession spanning 690km², which holds approximately 400 million tonnes (mt) of bauxite mineral resources.
EGA has strongly denounced the Guinean Government’s decision.
It emphasised that by transferring GAC’s mining entitlements to a different organisation, the State of Guinea has indicated its readiness to “disregard fundamental legal norms, undermining investor trust, governance openness, and the enduring interests of the nation”.
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By GlobalDataEGA said that it maintains all its legal options, while GAC will continue the judicial processes it has already begun, as well as any further legal proceedings in the appropriate forums.
EGA’s concession was transferred “free of charge and without any compensation”, according to a Reuters report.
The company, which began its operations in Guinea in 2019, has been at odds with the government since October last year, leading to the suspension of its bauxite exports and mining operations.
The impact of this revocation is significant, as GAC accounts for around 2–3% of the global bauxite supply.
Guinea’s push to review dormant or non-compliant mining titles is part of a broader strategy to maximise revenue and attract new investment.
The termination of the basic agreement with GAC, which the former had claimed was wrongful, has also led to redundancies in the Boké region, affecting more than 2,000 employees and contractors.
In June 2024, GAC had agreed to a term sheet with Guinea for the development of an alumina refinery with an initial annual capacity of 1mt.
