Aluminium ore: Abu Dhabi inks supply deal with Guinea

The signing ceremony was attended by Abu Dhabi Crown Prince Mohammad bin Zayed alNahayan.

ABU DHABI: Abu Dhabi signed a long-term contract with the world’s biggest producer Guinea for the supply of bauxite ore for the United Arab Emirates (UAE) aluminium industry, state media reported on Saturday. The deal between Abu Dhabi investment fund Mubadala and Guinean firm Compagnie des Bauxites de Guinee (CBG) will give the UAE “a strategic resource” for its aluminium industry and will help CBG to further increase its bauxite production, the official WAM – Emirates news agency – reported. Guinean Mines Minister Mohamed Lamine Fofana said that the agreement will enable partly state-owned CBG to increase its production capacity to more than 20 million tonnes per annum, injecting $500 million into the Guinean economy. Mubadala Chief Operating Officer Walid alMuhairi said the Guinean firm will provide a “long-term and high-quality” supply for the UAE aluminium industry. The signing ceremony late on Friday was attended by Abu Dhabi Crown Prince Mohammad bin Zayed alNahayan and Guinean President Alpha Conde.

Published in The Express Tribune, November 4^th, 2012.