Guinea’s junta has given bauxite mining companies 10 days to present a timeline for the construction of alumina refineries, extending an end of May deadline the companies did not meet.
A statement on Friday said as of that day, it has been noted that none of the companies has complied.
Africa’s biggest producer of the aluminium ore has been seeking to channel its mineral wealth into economic development and has pressured companies to build local facilities to refine bauxite into higher value alumina.
The companies affected by the refinery ultimatum include Guinea’s top two bauxite producers Societe Miniere de Boke (SMB) and Compagnie des Bauxite de Guinee (CBG). Neither company immediately responded to a request for comment.
Guinea only has one alumina refinery so far, the Friguia refinery owned by Russian aluminium giant Rusal, which also operates two bauxite mines in the country.
Analysts say there are hurdles to refining in-country.
CRU estimated that six companies have alumina refinery plans in Guinea, for a total planned capacity of 11 million tonnes a year. Most of these plans are at an early stage, according to CRU.
Guinea is also looking to set a reference price for bauxite, according to the government statement, which did not detail how this would work in practice.
The interim president is concerned about bauxite miners in Guinea setting different prices for the ore, the statement said, and expects a draft decree on the issue by next Friday.
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