UAE's Emirates Global Aluminium 'denounces' Guinea's move to transfer mining rights

Guinea divested EGA subsidiary from the rights and gave it 'Guinean state entity'

Last updated: August 06, 2025 | 08:33

Manoj Nair, Business Editor

2 MIN READ

Emirates Global Aluminium is rated as the biggest non-energy industrial company in the UAE. It has been expanding its direct interests in key overseas markets.

WAM

Dubai: The UAE industrial giant Emirates Emirates Global Aluminium (EGA) has 'denounced' the decision by the Republic of Guinea to revoke the rights to a mining title in the African state.

The mining rights were held by the UAE company's subsidiary GAC.

The rights have now been transferred to a recently set up entity, Nimba Mining Company S.A., by the Republic of Guinea.

Also Read: Emirates Global Aluminium starts production at first section of Al Taweelah plant expansion

"This decision follows the illegal suspension of GAC’s operations since Autumn 2024 and the wrongful attempt at terminating the Basic Agreement that allowed the company to operate in Guinea," said EGA in a statement.

"The measures initiated by the Republic of Guinea amount to a de facto expropriation of EGA’s investment in Guinea."

EGA reserves all of its rights, while GAC will seek the redress it is entitled to through the legal means it has already initiated and any other legal action before the competent fora

Statement by Emirates Global Aluminium on Guinea action

According to the UAE company, the move 'constitutes a flagrant violation' of GAC’s contractual and legal rights.

Risk to jobs

Plus, over 3,000 local jobs in Guinea could be 'at risk' and 'raises serious concerns about the Republic of Guinea’s adherence to the rule of law'.

"GAC has been a key driver of long-term socio-economic development in the Boké region, contributing $244 million to the Guinean economy and investing $700,000 in social projects in 2024 alone," said the statement.

"The illegal and hostile takeover further represents breaches of Guinea’s contractual obligations and undermines any credibility of its engagement with foreign investors."

Plus, "By re-assigning GAC’s mining rights to another entity – which, notwithstanding the lack of transparency, seems to be a Guinean State entity – the State of Guinea has signalled that it is willing to violate fundamental legal principles to the detriment of investor confidence, governance transparency, and long-term national interest," the statement says.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.