Alufer Mining to Invest $205m in Bauxite Project in Guinea

February 6, 2017

Firm to produce 5.5 million tons a year in first four years, rising to 10 million tons per year thereafter, CEO Bernie Pryor says.

* Mine located in Boffa region within Bel Air mine enclave; ~225km north of Guinean capital of Conakry;
* Co. secures all funds needed for project; funding from Resource Capital Funds, Africa Finance Corp., Orion Mine Finance;
* Mine construction began Friday; first output in August 2018;
* NOTE: Guinea holds as much as half of the world’s reserves of bauxite, the raw material used to make aluminum. Source: Bloomberg