Guinea Alumina Corporation (GAC) is a joint venture between Mubadala and Dubai Aluminium (DUBAL) that manages a bauxite and aluminium project in the Republic of Guinea, home to the world’s largest proven bauxite reserves. Bauxite is a key raw material used in the production of aluminium, and GAC provides Mubadala and DUBAL with upstream development potential that is key to the UAE’s intention to establish the country as a global aluminium hub.
Mubadala and DUBAL collaborate as sole owners of GAC as a result of the acquisition of project interests from former joint venture partners Global Alumina and BHP Billiton in July 2013. Mubadala first entered into the GAC joint venture in 2007 with an 8.33 percent stake.
GAC holds a 50 year renewable mining concession on an approximately 1.3 billion ton bauxite deposit. As of May 2013, approximately US $740 million has been spent to develop key project infrastructure such as a port and container quay, refinery earthworks, a bridge and an access road.
The company has an exceptional safety record and in April 2013 celebrated 11 million work-hours without a lost-time incident.
GAC operates under a well-established Code of Business Conduct that sets an uncompromising standard on issues of business conduct. The company focuses on transparency, respect and equality, key qualities that underpin the success of the project. To this end, the project also applies the principles of the Extractive Industries Transparency Initiative.
Communities adjacent to the project are benefitting from GAC’s commitment to sustainable development and local partnership, and several initiatives to improve health clinics, schools, water access, health care programming and pedestrian safety have been implemented.