Guinea’s \u200cstate-owned Nimba Mining Company will market its bauxite through monthly tenders open to global traders and miners, the country’s Mines Minister told Reuters on Tuesday, as the government seeks to build the company into a national mining \u200bchampion.<\/p>\n
Nimba plans to secure a trading partner under an agreement covering guaranteed minimum annual \u200bsales volumes while marketing additional production through monthly spot tenders, Nimba Chief \u2060Executive Patrice L’Huillier said separately.<\/p>\n
“One time it may be Mercuria, another time it may be \u200bGlencore, Rio Tinto or Vedanta,” the Mines Minister Bouna Sylla said in an interview. “The objective is \u200bfor Nimba to operate on the same commercial basis as international mining companies.”<\/p>\n
GUINEA TIGHTENS GRIP<\/strong><\/p>\n The move marks Guinea’s latest drive to increase state participation in a sector dominated by foreign operators.<\/p>\n Since taking power in 2021, President Mamadi Doumbouya’s \u200bgovernment has\u00a0tightened oversight\u00a0of mining projects, accelerated development of the long-delayed\u00a0Simandou iron ore project and \u200bpushed miners to build refining capacity to add value locally.<\/p>\n The government last August transferred Emirates Global Aluminium’s assets to Nimba, \u200cgiving the \u2060company its first major operating asset.<\/p>\n Nimba said last week it had exported more than 5 million metric tons of bauxite since its creation and aims to ship 10 million tons this year before reaching annual capacity of 12 million tons from 2027.<\/p>\n L’Huillier said Nimba’s long-term strategy is \u200bmodelled on Saudi Arabia’s \u200bMa’aden, with four business \u2060divisions: bauxite, alumina, gold and base metals. Over the next two to five years, the company aims to produce at least 14 million tons \u200bof bauxite annually, bring an alumina refinery into construction, develop one \u200bgold mine and \u2060advance a base-metals project to the bankable feasibility stage.<\/p>\n Nimba has already signed a joint venture agreement with Australia’s Resolute Mining to explore gold opportunities and is pursuing the alumina refinery project.<\/p>\n Rather than relying \u2060on \u200bfunding from major projects such as Simandou, Nimba will expand \u200bby reinvesting profits from its own operations, Sylla said.<\/p>\n “The right model is for the company to develop its assets, generate \u200bprofits and reinvest to diversify.”<\/p>\n","protected":false},"excerpt":{"rendered":" Guinea’s \u200cstate-owned Nimba Mining Company will market its bauxite through monthly tenders open to global traders and miners, the country’s Mines Minister told Reuters on Tuesday, as the government seeks to build the company into a national mining \u200bchampion.<\/p>\n","protected":false},"author":6,"featured_media":16797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2362,3028,27],"tags":[4170,248,5389],"class_list":["post-21738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mining","category-west-africa","tag-bauxite","tag-guinea","tag-nimba-mining-company"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=21738"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21738\/revisions"}],"predecessor-version":[{"id":21739,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/21738\/revisions\/21739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/16797"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=21738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=21738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=21738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}