Global Alumina posts second quarter loss of US$1.9 million

Wednesday, Aug 13, 2008
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  TORONTO — Global Alumina Corp. (TSX:GLA.U), a company developing an alumina refinery in the west African country of Guinea, says it lost US$1.9 million in the second quarter, compared with a net profit of $84.3 million for the same 2007 period.   Global Alumina Corp. said Tuesday it lost one cent a share for the three months ended June 30, compared with a net profit of 41 cents a share for the same 2007 period.   The company, which has no metals sales yet, reports in U.S. dollars.   Global Alumina and its joint venture partners are developing a 3.6 million tonne a year alumina refinery located in the bauxite-rich region of Guinea. The company's joint venture partners are BHP Billiton, Dubai Aluminium Co. Ltd. and Mubadala Development Co.   Alumina is a fine powder produced from bauxite and is used to smelt aluminum metal.   --The Canadian Press

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