Guinea Alumina Corporation (GAC) and the Guinean government have signed a Term Sheet for the development of an alumina refinery. An important step in the development of the project.

The alumina refinery is expected to be built on the GAC concession near Tinguilinta, in the Boké region, with an initial production capacity of one million tons of alumina per year. Indeed, Guinea Alumina Corporation plans to work with other companies in a joint venture to move the project forward. In Guinea, the government will hold a 15% stake in GAC, in order to strengthen the partnership between GAC and the government. This stake will be converted into a 10% share in mining and a 7.5% share in the alumina refinery company when alumina production starts. The government will also be entitled to two seats on the GAC board of directors, including that of president