Apr 13 2006
RUSAL and the Government of the Republic of Guinea have reached an agreement on privatisation of the Alumina Company of Guinea/Friguia (ACG/Friguia) bauxite and alumina complex, in the city of Fria. According to the agreement, RUSAL will take over the assets of Friguia SА and its managing company, the Alumina Company of Guinea Limited.
In accordance with a decree signed by the President of the Republic of Guinea, General Lansana Conte, the privatisation of the state-owned ACG/Friguia bauxite and alumina complex will be completed through purchase by RUSAL of a 100% stake in state-owned Friguia SA and a final 15% stake owned by the state in the Alumina Company of Guinea Limited. In its agreement with the Government of Guinea, RUSAL has also committed to a near doubling of ACG/Friguia’s capacity.
Currently, RUSAL manages the ACG/Friguia bauxite and alumina complex on the basis of a mining concession agreement with the Government of Guinea and the Russian company’s 85% participation in the Alumina Company of Guinea Limited. The designed capacity of the plant, which is the only operating alumina refinery in Guinea, is 600,000 tonnes of alumina and 2.8 million tonnes of bauxite per year.
Guinea holds two thirds of the world’s bauxite reserves. Aside from ACG/Friguia, in Guinea RUSAL also manages the mining company Compagnie des Bauxites de Kindia on the basis of a 25-year concession agreement with the Republic’s Government. RUSAL is also considering the construction of a new bauxite and alumina complex at the Dian-Dian bauxite deposit.
http://www.rusal.com/