Dubal, Mubadala take over Guinea Alumina Corp
Dubai, July 10, 2013
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 alumina in West Africa, GAC also mines for the raw material bauxite.
Announcing the GAC takeover, Dubal said along with Mubadala it had successfully acquired the remaining GAC stake from US-based Global Alumina Corporation and BHP Billiton, a leading resources company.
Dubal and Mubadala are also joint venture partners in Emirates Aluminium (Emal), a leading UAE-based Aluminium smelter at Al Taweelah, Abu Dhabi.
The acquisition move comes following the recent announcement of the creation of Emirates Global Aluminium (EGA) by Dubal through integration of its business with Emal.
An entirely state-owned enterprise, Dubal has invested in joint venture bauxite/alumina projects, notably in Brazil, Cameroon, and the Republic of Guinea; as well as in a joint venture calciner development project in China.
The GAC acquisition will help the Dubal JV firm to embark on a global expansion and make it the fifth largest aluminium company in the world, said Dubal in a statement.-TradeArabia News Service