Singapore-based Winning International Group (Winning) has invested USD 200 million in a bauxite mining project in the Boke region of western Guinea of Africa, through its formed consortium.
The company along with its consortium partners- Weiqiao Pioneering Group, headquartered in China’s Shandong province, UMS and China’s Yantai Port Group, plans to scale up production of bauxite ore at its Guinea plant from the present 5 million tonnes per annum (mtpa) to 10 mtpa, and eventually to 30 mtpa in a two year time under three phases. With this, Winning aims at becoming the single largest bauxite producer of the world.
As of now, the current production capacity of the world’s single largest bauxite mining company stands at 20 mtpa.
Guinea in Africa has the world’s richest bauxite reserves. According to the statistics made available by the U.S. Geological Survey, Guinea’s total bauxite reserve is 7.4 million tonnes, which is equivalent to almost 26 percent of the total bauxite reserves of the world. However, it accounts for less than 10 percent of the global bauxite production.
The project, till now the largest in the mining and logistics domain operated by any Singapore-based company in the African content, will expectedly meet the growing demand of bauxite from China.
"We are very excited and have great expectations about the project. This is an investment transcending regions, fields, continents and countries, connecting Singapore, Africa and China," said Sun Xiushun, president and chairman of Winning, also the general director of this project. Terming the project as landmark, he said, it will usher in a new era with umpteen opportunities brought up by China's Belt and Road Initiative.
"Cooperating with partners from China and Africa, Winning exploits its advantages such as technologies and experiences, finance and equipment in marine shipping industry to realize relevant values," he said.
The project, slated to create 3,000 plus employment opportunities is a win-win proposition for all stakeholders.
