Guinea Alumina Corporation

Stock performance

History

Guinea Alumina Corporation (GAC) was acquired by Emirates Global Aluminium (EGA) of the United Arab Emirates, which spent about $1.4 billion developing a bauxite mine and export facilities in Guinea, one of the largest greenfield investments in the country in decades. Production began in 2019. In 2025 Guinea's military-led government revoked its mining concession, citing the lack of progress on a promised alumina refinery, as part of a broader push to force more local processing.

Business model

GAC was built to mine bauxite in Guinea and ship it to EGA's alumina refinery in the UAE, providing its parent with a secure supply of ore for its aluminum smelters.

Market position

GAC was one of Guinea's major bauxite exporters, alongside SMB and CBG, until the revocation of its concession.

Country impact

The dispute over GAC became the most prominent example of the Guinean authorities' demand that mining companies refine bauxite inside the country, a policy aimed at capturing more value from Guinea's mineral wealth but one that unsettled foreign investors.