EGA Confirms That The Republic Of Guinea Has Wrongfully Declared The Termination Of The Basic Agreement With EGA Subsidiary GAC

(MENAFN- Mid-East Info)

• Termination notice results in more than 2,000 employees and contractors being made redundant
• GAC and EGA set to defend rights and seek redress before international tribunals
• GAC is the largest greenfield investor in Guinea's mining sector, creating 3,200 jobs, 96 per cent of which are held by Guinean citizens

United Arab Emirates,July 2025: Emirates Global Aluminium today announced that the Government of the Republic of Guinea has wrongfully declared the termination of the Basic Agreement entered into by EGA subsidiary Guinea Alumina Corporation with the Republic of Guinea, an outcome that will regrettably impact employment in the Boké region in western Guinea. Accordingly, GAC is now proceeding with the necessary process to make significant redundancies, which will initially affect more than 2,000 employees and contractors. GAC is the largest greenfield investor in Guinea's mining sector in over 40 years and has created 3,200 jobs, 96 per cent of which are held by Guinean citizens. GAC has generated new economic opportunities and substantial revenues for the Republic of Guinea and established lasting development partnerships with local communities. In 2024 alone GAC made some $244 million of direct expenditures in Guinea. GAC and EGA intend to defend their rights before the competent international tribunals and seek redress for the losses suffered. Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said today:“These actions have made the continuation of GAC's operations and the development of an alumina refinery impossible. The job losses this will cause, and the opportunity loss to the Guinean economy, are deeply regrettable. “We have maintained GAC's employee workforce in difficult circumstances for as long as possible. Our focus has been to honour the economic and social commitment to our people, their families and to the Republic of Guinea.” In Autumn 2024 the government illegally blocked EGA and GAC's Guinean operations, suspending the export of GAC's bauxite and blocking GAC's access to the rail on shared rail infrastructure. This led to the suspension of GAC's mining operations. In addition, state-controlled Compagnie des Bauxites de Guinée suspended all deliveries of bauxite to EGA in the United Arab Emirates, forcing EGA to source bauxite from other countries. GAC made considerable efforts and concessions to try to unlock its operations and enable the development of an alumina refinery in Guinea to proceed despite the major economic, technical and environmental challenges to completing such a project.

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