GUINEA is in talks with Glencore over possible investments in alumina refining and energy after the two sides struck a bauxite deal last week, Reuters reported.
State-owned Nimba Mining and Glencore signed a bauxite pre-financing and offtake agreement worth more than $300m. Under the five-year deal, Glencore will market between 10 million and 12 million tons of bauxite a year.
Guinea Mines Minister Bouna Sylla said the agreement could pave the way for a broader partnership.
“Based on this agreement, we will develop the partnership with Glencore beyond bauxite, including alumina refining, energy and other strategic investments,” he told Reuters.
Guinea, which overtook Australia as the world’s largest bauxite producer in 2023, is seeking to build more processing capacity at home. Bauxite is the main ore used to make aluminium.
The country is also seeking a wider range of investors and export markets. More than 70% of its bauxite exports currently go to China, while Chinese-linked companies hold a controlling interest in the Simandou iron ore project.
Sylla said China would remain an important partner, but Guinea also wanted stronger links with the Middle East and other regions.
The Glencore agreement follows Guinea’s recent settlement of a long-running dispute with Emirates Global Aluminium.
Sylla said both developments formed part of the country’s plan to broaden its international partnerships.
