DAKAR, March 1 - The world's biggest mining group BHP Billiton is "very close" to taking a one-third stake in Global Alumina's planned 2.8-million tonne alumina refinery in Guinea, a Global executive said on Thursday.
Global Alumina's Chief Financial Officer Michael Cella said under the terms of the deal, which may be announced as soon as next week, Dubai Aluminium Company Ltd (DUBAL) would take a 25 percent stake and Mubadala Development Company would own 8.3 percent of the joint-venture refinery.
Canada-based Global Alumina Corp. would retain a one-third stake in the refinery, which is due to start production early in 2009.
"The percentages are agreed upon, we just need to settle on the price," Cella told Reuters. "We are very close to signing the deal."
The target date for concluding the negotiations has been postponed until Saturday, Cella said. No formal announcement was expected before Monday at the earliest, he added.
Under the draft agreement, it was proposed that BHP would provide technical services and support for Guinea Alumina Corp SA, which will operate the mine.
Billiton Executive Director Marius Kloppers said last month his company had hoped to become the operator of the project.
Guinea contains roughly one third of the world's reserves of bauxite, which is refined into alumina and then smelted into aluminium. It accounts for more than 10 percent of the world's bauxite output.
At present, there is only one alumina refinery in the West African country, operated by Russia's Rusal, which produces around 700,000 tonnes of alumina a year.
豫公网安备41010502003434号