AL Circle's weekly wrap
Middle East aluminium giant's subsidiary to construct alumina refinery in Guinea
The bauxite mining subsidiary of Emirates Global Aluminium, Guinea Alumina Corporation (GAC), intends to set up an alumina refinery in Guinea with an annual capacity of 1 million tonnes. EGA is the world's largest 'premium aluminium' producer.
GAC is jointly owned by Mubadala Development Company and the Investment Corporation of Dubai (ICD), with equal ownership stakes.
Youssuff Sylla, the Director General of GAC, speaking at the Round Table of Donors (RTD) organised by the government of Guinea in Dubai, said, "Full details about the project and timelines will be announced in due course."
?During the media Round Table, the Minister of Planning and International Cooperation, Guinea, Rose Pola Pricemou, stated, "The RTD is about securing essential funding and establishing long-term strategic partnerships that are essential for our nation's growth."
Following Australia and China, Guinea used to rank as the world's third-largest bauxite producer. AL Circle's initial assessment, disclosed in its recent industry-specific publication, the "Global Aluminium Industry Outlook 2024," suggests that Guinea potentially exceeded 100 million tonnes of bauxite production in 2023, positioning itself as the second-largest producer.
Guinea boasts the world's largest bauxite reserves and is the leading exporter of this valuable mineral.
NTPC to supply 1200 MW of uninterrupted power for NALCO’s smelter expansion
NTPC Limited, India's leading integrated power utility, and National Aluminium Company Limited (NALCO), a prestigious Navaratna Company, have entered a non-binding Memorandum of Understanding (MoU). This non-binding agreement embarks on a journey of exploration across diverse energy landscapes, including coal-based thermal, solar PV, wind, and other renewable energies, alongside innovative energy storage solutions.
The objective is to provide approximately 1200 MW of uninterrupted, round-the-clock power to meet NALCO's requirements for expanding its smelter plant capacity in Angul, Odisha. This significant agreement was formalised in the presence of Shri Dillip Kumar Patel, Director (HR) of NTPC, and Shri Jagdish Arora, Director (Project & Technical) of NALCO, at the SCOPE Complex in New Delhi.
NTPC Limited, previously recognised as the National Thermal Power Corporation, is a prominent Indian Central Public Sector Undertaking under the auspices of the Ministry of Power and the Government of India. Its primary focus lies in electricity generation and related endeavours. The headquarters of this esteemed PSU are located in New Delhi.
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Years of delay over: Inalum targets H2 2024 for alumina refinery operations commencement
Indonesia's state-owned aluminium producer, Inalum, announced on February 15 2024, its intention to commence operations at its long-awaited new smelter-grade alumina refinery in the latter part of 2024. Their official release states that this marks the culmination of years of delays.
In June 2023, the Indonesian government imposed a ban on bauxite ore exports in a bid to encourage the development of a domestic bauxite processing and refining industry aiming to emulate its achievement in enticing foreign investors into nickel processing following a similar prohibition on outbound shipments of unprocessed ore in 2020.
In 2023, Indonesia’s primary aluminium sector is expected to demonstrate moderate growth compared to the previous year, as various reports indicate. The global aluminium industry faced challenges during the year, such as price fluctuations and economic uncertainties, which may have influenced Indonesia’s production and export dynamics.
Despite challenges, there is optimism for future growth in Indonesia’s primary aluminium production, driven partly by the escalating domestic demand for aluminium. Sectors such as construction and automotive are experiencing increased demand, providing potential opportunities for the industry to expand.
Other major news of the week:
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