Post #370

Broke Up, But Not For Long 🤡 Guinea wants to supply ore to a company whose mine it nationalized 🌐 Insiders say that the Guinean government is in talks for state-owned Nimba Mining to supply bauxite to a plant of the Emirati company EGA. 🔨 The nuance here is that Nimba Mining is an asset taken from EGA itself back in July. The company failed to meet its deadline to build an aluminium smelter in Guinea, so the government decided that its bauxite mining project merits being taken away. ⏩ After that, Guinea and the company found themselves in the position of divorced spouses. Guinea had nowhere to send bauxites, while EGA could not find feedstock for its plant in the UAE (it did not build a smelter in Guinea, but somehow managed to build one at home). In the end, everything is returning to the status quo, except that Guinea now holds the mining asset. ⏩ Guinea has been consistently pushing for local processing. All bauxite miners are required to begin construction of plantsby 2027 – in case of non-compliance, they can apparently also expect to part ways with their mines. The only question is whether the government itself will invest competently in processing. ➡️ Follow to stay informed - @devilsbelow