Guinea Alumina hopes to resume friendly negotiations with the Guinean government

Gold Ten Futures, May 27, according to foreign media reports, the Guinean Alumina Company (GAC), the Guinean subsidiary of the United Arab Emirates Global Aluminium Industry (EGA), said on Tuesday that it hopes to restart negotiations with the Guinean government to lift the current controls that hinder its bauxite mining. In October 2024, the Guinean government suspended its bauxite export and mining operations. It was previously reported that the Guinean government initiated the process of revoking EGA's mining license due to EGA's failure to build an alumina refinery. The GAC said in a statement that it has been fulfilling all its obligations under the agreement it signed with Guinea. According to three people familiar with the matter, the GAC has backlogged nearly 2 million metric tons of bauxite stocks after the shutdown.