The Decision Effectively Seizes Investments of Emirates Global Aluminium in Guinea
Emirates Global Aluminium announced yesterday that the Government of Guinea has unlawfully terminated the foundational agreement between its subsidiary, Guinea Alumina Corporation, and the Republic of Guinea. This move effectively results in the confiscation of Emirates Global Aluminium’s investments in Guinea, which will have consequences for employment in the Boké region of western Guinea.
As a result, Guinea Alumina Corporation is initiating the necessary steps to lay off a significant number of employees and contractors, with the first phase impacting over 2,000 individuals.
Guinea Alumina Corporation has been the largest new asset investor in Guinea’s mining sector for over 40 years, providing 3,200 job opportunities, 96% of which were for Guinean citizens.
The company has created new economic opportunities and generated substantial revenue for the Republic of Guinea while establishing numerous partnerships with local communities to promote sustainable development.
In 2024 alone, Guinea Alumina Corporation’s direct spending in Guinea amounted to approximately $244 million.
Compensation Claims
Guinea Alumina Corporation and Emirates Global Aluminium intend to protect their rights through appropriate international courts and seek compensation for the losses incurred.
Abdulnasser bin Kalban, CEO of Emirates Global Aluminium, stated: “These actions have made it impossible to sustain the operations of Guinea Alumina Corporation and develop the alumina refinery. The job losses that will arise from this and the missed opportunities for the Guinean economy are extremely unfortunate.”
“We have retained all employees of Guinea Alumina Corporation under challenging conditions for as long as possible. This reflects our commitment to our economic and social responsibilities towards our employees, their families, and Guinea.”
Additionally, the state-owned Guinea Bauxite Company has suspended all bauxite shipments to Emirates Global Aluminium in the UAE, necessitating the company’s imports of bauxite from other sources.
On a different note, Emirates Global Aluminium has announced the commencement of production at its Spectro Alloys aluminum recycling expansion project located in Minnesota, USA.
The project will enhance secondary aluminum production by 55,000 tons in its first phase, with expectations of reaching full capacity by the first quarter of 2026.
This expansion will raise the total annual production capacity of the Spectro Alloys facility to 165,000 tons of recycled aluminum, which will be marketed under the “Revival” brand of Emirates Global Aluminium’s recycled aluminum products.
Overall, this project will increase Emirates Global Aluminium’s recycled aluminum production capacity to 195,000 tons annually across its plants in the United States and Germany.
In 2024, Emirates Global Aluminium acquired 80% of Spectro Alloys shares.
A Significant Milestone
Abdulnasser bin Kalban remarked: “The launch of production at the Spectro Alloys expansion project marks a significant milestone in our journey to enhance our global operations in aluminum recycling and our commitment to meeting the growing demand for low-carbon metal.”
“This is also an important step in our ambitious plan to strengthen our presence in the U.S. market, one of our largest worldwide markets, as we move forward with our initiative to construct a primary aluminum production facility in Oklahoma.”
The United States is the second largest market for recycled aluminum, with projected demand expected to reach 7.6 million tons annually by 2033, according to independent research firm CRU.
In Oklahoma, Emirates Global Aluminium plans to establish the first primary aluminum production plant in the U.S. since 1980.
The plant is anticipated to achieve a production capacity of 600,000 tons of primary aluminum per year, equivalent to double the current total domestic aluminum production in the United States.
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