TSX completes review of Global Alumina, shares remain listed

TORONTO - Global Alumina Corp. meets the continued listing requirements of the Toronto Stock Exchange, the exchange said Friday after a review.

The TSX had said March 27 it was reviewing the company's common shares based on Global Alumina's financial condition prior to the completion of a joint venture to develop an alumina refinery in the Republic of Guinea.

That deal was sealed May 21, with Global Alumina receiving the first US$151.1 million instalment of a total of US$260 million it is in line for from venture partners BHP Billiton, Dubai Aluminum Co. and Mubadala Development Co., as they develop the three-million-tonne-a-year Sangaredi alumina refinery in the bauxite-rich region of Guinea.