Anglo African Minerals speeds up its Guinea-based bauxite project

Anglo African Minerals, an Ireland based company is planning to speed up the development of their Gunieau-based bauxite project of 43-million ton so that it can start production by 2016. The project spread across 338 km square and once it takes off, it will ease the tension caused by the ban on unprocessed bauxite ore export in Indonesia.

Till now, 68 auger holes have been drilled at the Forward Africa Resources (FAR) project in the Dubreka/Kindia prefecture and hopes to complete the scoping study by the November-end.

After some additional drilling due in mid-November, the company aims to complete a bankable feasibility study by 2015 Q1. The construction is supposed to start at the end of 2015 and production of two million tons a year should be initiated by first quarter of 2016, says CEO James Lumley.

The CEO also added that the convenient location of the project close to rail and port facilities will enable the fast-tracking of development at the same time limiting the development costs to approx. $35 million.

“That's a fraction of the cost of other projects in the region that don’t have access to this infrastructure,” he outlined, adding that Anglo African was in talks with potential financiers.

The group also holds three other exploration licenses in the West African State which is likely to push the company’s total production from Guinea to around 6-million tons per year by 2019, Lumley said.