Feasibility Study of Guinea Bauxite Project Confirmed

Final feasibility study report of Conakry Guinea bauxite project was confirmed by IMIDRO and Conakry Guinea Minister of Geology and Mines. Both sides defined the terms of cooperation for cost reduction, implementation and financing project as well.

According to the report of public relations of IMIDRO, this report confirmed and approved by Mehdi Karbasian chairman of the board of IMIDRO and Abdoulaye Magassouba Conakry Guinea Minster of Geology and Mines.

Feasibility study of this project was performed, analyzed and finalized by German-British consultant for production and transmission of bauxite from Conakry Guinea to southern coasts of Iran.

Based on this project, annually 4 million tonnes of bauxite will be extracted and transmitted to south of Iran for alumina powder production.

IMIDRO has been extended operation of Conakry Guinea mine for 25 years. This mine has 300 million tonnes reserves so it is a resource for supply of required raw materials to approach the goals of aluminum industry development in Iran.

At the end of the meeting, both sides agreed to reduction of operation tax in Guinea bauxite mine by Conakry Guinea in order to reduce the cost reduction.

Likewise, they agreed to call for an international bid for extraction and operation of the mine.

Islamic Development Bank and Africa Development Bank will finance the project.

(Source: IMIDRO)

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