Glencore wins Guinea bauxite offtake deal

Guinea has selected Glencore Plc as the offtaker for bauxite produced by state-owned Nimba Mining Co, Bloomberg reports.The appointment followed an international tender, Mines and Geology Minister Bouna Sylla said.Talks to finalise the contract are continuing. Sylla said the government aims to build Nimba Mining into a national mining champion.Glencore declined to comment.Nimba Mining took over the former Guinea Alumina Corp. bauxite concession in August last year after a dispute over plans to build an alumina refinery.The company has exported 4 million tons of bauxite this year. It expects to ship between 8 million and 10 Mt/y by year-end, before raising output to 12 Mt in 2027.Guinea is the world’s largest exporter of bauxite – the raw material used to produce alumina and, ultimately, aluminum.The country shipped 183 Mt last year, supplying much of China’s demand.In March, the government said it was discussing plans with miners to better control export volumes and protect the market from falling prices.Nimba Mining signed its bauxite mining contract with the government earlier this week.The company is also expanding into iron ore, gold and metals refining. One of its new ventures, Nimba Gold, has signed a memorandum of understanding with Resolute Mining Ltd. to jointly develop gold projects.Exploration will begin before production is gradually introduced.The post Glencore wins Guinea bauxite offtake deal appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com