Guinea: Nimba Mining signs its agreement to take over the operation of the GAC bauxite mine.
Guinea has signed the mining convention with Nimba Mining Company, created after the withdrawal of the bauxite concession from GAC, a subsidiary of Emirates Global Aluminium, in the Boké region. The text still needs to be ratified by Parliament before its official publication.
SUMMARY
The agreement, announced on Monday, August 3, 2026, by the Guinean presidency, marks a new phase for the public project aimed at resuming operations at the site and constructing an alumina refinery. Nimba Mining Company was established in August 2025, after the authorities decided to withdraw the concession from GAC.
The Emirati company benefited from tax exemptions in exchange for committing to build a refinery. According to Guinean authorities, this infrastructure was not completed, which contributed to the withdrawal of the concession.
The new convention also provides for the construction of a refinery, but without reinstating the exemptions granted to GAC. Patrice L’Huillier, the general director of Nimba Mining Company, states that the project must now comply with the Guinean mining code, particularly concerning extraction taxes and export taxes.
A feasibility study expected starting in 2028
Nimba Mining must first select an engineering firm to carry out the feasibility studies for the future plant. The selection is expected by the end of 2026, while the study work should take about 18 months, until mid-2028.
The construction of the refinery can only begin after this phase. The final schedule for the construction site, its capacity, and its cost have not yet been communicated.
On the commercial side, Nimba Mining Company has reached an agreement with Glencore. The Anglo-Swiss trader is to advance 350 million dollars, a financing backed by the future bauxite production of the Guinean company. This is an advance related to upcoming sales, not a direct investment announcement of this amount in the refinery.
The public company also intends to expand its activities beyond bauxite. It plans to soon launch exploration of gold deposits in the Siguiri region in northeastern Guinea, in partnership with the Australian group Resolute Mining.
However, the mining convention has not yet fully come into effect. Its ratification by Parliament remains necessary before publication and the full implementation of the provisions.
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