Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, today announced that the first shipment of Guinean bauxite under a renewed agreement with Compagnie des Bauxites de Guinée is on its way to the UAE.

Some 66 thousand tonnes of bauxite were loaded onto a Panamax vessel at Kamsar in late August.

The renewed agreement between EGA and Compagnie des Bauxites de Guinée is for up to 4.9 million tonnes per year of bauxite until 2044.

Bauxite is the feedstock for alumina refineries.

His Excellency Bouna Sylla, Minister of Mines and Geology of the Republic of Guinea, said: "The first bauxite shipment of Guinean bauxite to the UAE following the entry into force of the Global Settlement Agreement marks an important milestone in a new relationship that strengthens trade relations between the parties, in line with the vision and enlightened leadership of His Excellency President Mamadi Doumbouya, as reflected in the Simandou 2040 Programme. We are glad that EGA continue to be a customer for Guinean high-quality bauxite".

Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said: "We look forward to contributing to the prosperity of Guinea and its people as a long-term bauxite customer, and to continuing to use high-quality Guinean bauxite in our operations as part of our diversified and resilient bauxite supply portfolio."

EGA, Guinea Alumina Corporation and the Republic of Guinea (represented by the Minister of Mines and Geology and the Minister of Economy, Finance and Budget) reached an agreement in May to definitively settle disputes arising from the cessation of GAC's activities in Guinea and the interruption of Guinean bauxite supplies to EGA. The agreement was closed in late August after various conditions precedent were met.

The amicable settlement was reached through a formal conciliation process conducted under the auspices of the incumbent President (Bâtonnier) of the Paris Bar Association, Me. Louis Degos.