Guinea Selects Glencore as Bauxite Offtaker for Nimba Mining

The government of Guinea has selected Glencore Plc as the offtaker to purchase bauxite produced by the state-owned Nimba Mining Co. The decision follows an international tender process designed to help Guinea manage aluminum feedstock export flows and shield the national economy from price volatility.

Nimba Mining Co. took over a concession from Guinea Alumina Corp. last year and has exported 4 million tons of bauxite so far this year. The company aims to increase this output to 12 million tons by 2027. Minister of Mines and Geology Bouna Sylla stated that the government intends to transform the company into a "mining champion" by expanding its operations into iron ore and gold.

Sylla noted that talks to finalize the terms of the contract are ongoing. As part of its diversification strategy, Nimba Gold has signed a memorandum of understanding with Resolute Mining Ltd. to jointly develop gold projects.