Alufer, a bauxite miner focused on Guinea will produce 5 million tonnes of bauxite next year, according to Guinea’s mines and geology minister Abdoulaye Magassouba.
“Alufer will produce 5 million tonnes of bauxite from 2017 for an estimated cost of $140 million,” said Magassouba at an event marking the signing of a convention between Guinea and Alufer on Monday.
Mining accounts for over 70 percent of Guinea’s exports. The country is rich in bauxite, iron ore, gold and diamond, accounting for 25 percent of global bauxite reserves. The metal is used to make aluminium.
Alufer has a portfolio of two bauxite projects across Guinea; the Bel Air and Labé Projects. The Feasibility Study and SEIA were completed at the Bel Air Project in 2013, with the Exploitation Licence granted in September 2013. The open-pit mine is set to eventually ramp up production to 10 million tonnes, according to the mins minister.
Exploration at its Labé Project is ongoing, with over 2.5Bt of JORC compliant resources already defined, including 583Mt of high alumina / low silica ore. The licence area has not been fully explored and there is potential to significantly increase the resource base.