Abu Dhabi's state-owned fund Mubadala and the Guinea government have signed a $5 billion agreement to build a bauxite and alumina refinery in Guinea, the West African country's minister of mines and geology said on Monday.
Iran has hiked purchases of alumina from China and India in the past two months as the country scrambles to shore up supply after the US tightened sanctions on raw and semi-processed materials at the start of July.
Dubai Aluminium (Dubal), the owner of the world's largest single-site primary aluminium smelter and Abu Dhabi state investment fund Mubadala have secured the full ownership of Guinea Alumina Corporation (GAC).
A leading producer of
Mubadala Development Company, Abu Dhabi’s strategic investment and development firm, will explore opportunities in sectors such as bauxite, alumina and iron ore in the Republic of Guinea.
The move follows the signing of collaborative agree
Saudi Arabian Mining Co (Maaden) has retendered a $1 billion construction contract for its 1.6 million tonnes per year (tpy) alumina refinery, said a report.
Maaden originally awarded the engineering, procurement, construction and manageme
The Ras Al Khaimah Investment Authority (Rakia) plans to raise at least $1.8 billion in bonds and loans this year to build islands off the UAE coast and an aluminium plant in India.
Rakia, which manages funds of Ras Al Khaimah's government