As of August 5, 2025, Guinea has revoked the bauxite concession previously awarded to Guinea Alumina Corporation (GAC), a subsidiary of Emirates Global Aluminium (EGA), citing violations of the national mining code. The concession has been reassigned to a newly established state-backed entity. This move signals a potential strategic shift by Guinea towards prioritising domestic utilisation of mineral resources and reducing reliance on international operators.
Dubai-based EGA, operating in Guinea through its subsidiary GAC, holds a 690-square-kilometre mining concession estimated to contain approximately 400 million tonnes of bauxite reserves.
A decree issued late Monday stated that GAC failed to meet regulatory requirements mandating mining companies to submit refinery development plans. As a result, the government has withdrawn the concession with immediate effect and reassigned it to state-backed Nimba Mining SA "free of charge and without compensation."
In a statement issued Tuesday, EGA strongly condemned Guinea's decision, calling it "a flagrant violation" of the contractual and legal rights of its subsidiary, GAC. The company, jointly owned by Abu Dhabi's Mubadala and the Dubai sovereign wealth fund, affirmed that GAC will pursue all available legal remedies, including proceedings already initiated and any additional actions deemed necessary.
EGA's alumina refinery deal in Guinea
On June 7, 2024, Guinea signed a non‑binding term sheet with GAC to develop its second major alumina refinery. The agreement stipulates construction of a facility with a capacity of 2 million tonnes per annum by September 2026, with initial output targeted at 1.2 million tonnes.
The term sheet, negotiated in Conakry between senior Guinean ministers and EGA executives, also sets out a USD 4 billion investment plan. Guinea will hold a 15 per cent stake in GAC, converting to 10 per cent in the mining operation and 7.5 per cent in the refinery once operational and will have two board seats. The project is expected to channel more value from Guinea's bauxite reserves into local economic development.
Previous revocation of GAC's licence
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