Guinea Alumina Corporation (GAC): Best ESG Mining Project West Africa 2018

It is the largest greenfield project of the last four decades in the country and is already now providing a powerful boost to its economy: the Guinea Alumina Corporation (GAC) is developing a large open pit bauxite mine in the West African country in addition to the rail and port infrastructure needed to ship the ore to Abu Dhabi where its parent company, Emirates Global Aluminium (EGA), is constructing the UAE’s first alumina refinery which is expected to enter into operation next year.

Guinea sits atop one third of the world’s proven reserves of bauxite. With global demand for alumina strengthening almost continuously, the West African country has sparked the renewed interest of mining companies. A number of projects have been initiated, none larger or more comprehensive in scope than GAC’s mine near Boké in the north-western region of Guinea.

GAC has structured its project with a view to forging a tight partnership with the host country. The company is in Guinea for the long haul – the Boké concession runs for 25 years and is automatically renewable for another quarter century – and seeks to help Guinea develop not just the national economy but its human resources as well. GAC maintains a vast training programme to help Guineans acquire the skills needed to run the company’s entire operation. It is GAC’s stated goal to have, before long, a complete Guinean team of professionals in place to operate its facilities in the country. The company has also initiated a comprehensive corporate social responsibility programme to help local communities and implemented a set of environmental policies that exceed globally accepted standards.

The CFI.co judging panel notes that GAC runs one of the safest mining operations in West Africa and, once fully operational, is expected to contribute up to $400 million annually to the country’s exchequer. The judges are most pleased to offer Guinea Alumina Corporation (GAC) the 2018 Best ESG Mining Project West Africa Award.

marten

Recent Posts

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

2 weeks ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

3 weeks ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

4 weeks ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

4 weeks ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

4 weeks ago

BAWAG Group AG: Best Banking Group Governance DACH 2024

BAWAG Group has reported 2023 net profit of 683 million euros, a ROTCE of 25…

4 weeks ago