As a responsible investor, Mubadala is committed to the continued long-term positive enhancement of society at home and overseas. This includes Guinea, where Emirates Global Aluminium (owned equally by Mubadala and Investment Corporation of Dubai) is investing in a mining project.
Investing with impact is a major component of Mubadala’s strategy. As a responsible corporate citizen, we encourage our portfolio companies to make a positive difference in the communities where they operate.
This commitment to our impact in action can be seen in the many community investment projects being carried out by Guinea Alumina Corporation (GAC) - a wholly owned subsidiary of Emirates Global Aluminium (EGA) – who is making the largest green-field investment in the Republic of Guinea in the past 40 years.
GAC Phase 1 is a 12mtpa Bauxite open-pit export mine, with rail extensions, material handling and terminal development. It is amongst the best concessions globally, with more than 100 years of resource available with the highest quality worldwide.
Since 2009 – 2016, GAC has invested more than US $4 million on a range of community projects. In the Boke region, GAC is working with local community development officers to relocate villages a safe distance from the mining operation, while also providing them with training to become more self-sufficient these include agriculture, cottage industry soap making in addition to vocational training for carpentry, mechanical and electrical engineering.
It has also invested in future generations by establishing junior schools, healthcare centers and hydraulics that provide access to clean water without having to travel great distances.
GAC is also delivering a positive impact in preserving Guinea’s environment. It has renewed the 2016 environmental compliance agreement, appointed an environmental manager and a biodiversity specialist to oversee the operations waste management. Additionally, it has created a chimpanzee monitoring and offset program as well as a mangrove restoration offset program.
During the mine development stage, GAC has worked with more than 210 local small business and suppliers since 2016. It has spent US $14.2 million on local purchases over the last two years with more than US $ 4 million of this amount going directly back into the Boke region.
As a global and responsible investor, Mubadala will continue to champion the long-term, positive economic and social transformation of both the Republic of Guinea and the UAE.