 subsidiary in Guinea has accumulated a stockpile of nearly two million metric tonnes of bauxite since the suspension ){kind=link}
Emirates Global Aluminium’s (EGA) subsidiary in Guinea has accumulated a stockpile of nearly two million metric tonnes of bauxite since the suspension of its operations last year, three sources familiar with the matter told Reuters on Tuesday.
EGA, equally owned by Abu Dhabi sovereign wealth fund Mubadala, and Dubai sovereign wealth fund the Investment Corporation of Dubai, operates one of the largest bauxite mines in Guinea through its Guinea Alumina Corporation (GAC) subsidiary.
The standoff with Guinea’s government highlights the aggressive push by the military authorities to increase benefits from the country’s vast natural resources as the world’s largest bauxite producer leverages its position in aluminium supply chains to force downstream processing commitments.
The company has been in a dispute with the government since October last year when its GAC bauxite exports, and mining operations were later suspended by the authorities.
Reuters reported earlier this month that the government has launched a process to withdraw EGA’s mining licence over its failure to build an alumina refinery.
Since the suspension of exports and mining operations, its stockpile of bauxite at the port and train loading facility at the mining site, have reached nearly…