In Guinea, Alcoa is a joint owner of Compagnie des Bauxites de Guinée, (CBG). CBG was formed in 1963 by the Government of Guinea and Halco (Mining), Inc. (Halco) to develop bauxite in the Boké region. The Government of Guinea owns 49% and Boké Investment Company owns 51% of CBG. Halco owns 100% of Boké Investment Company. Alcoa World Alumina LLC, a majority-owned subsidiary of Alcoa, owns 45% of Halco.
With more than 2,200 employees, the Company mines the world-class Sangarédi bauxite deposit in northwestern Guinea, recognized for its rich ore body containing approximately 50 percent alumina. CBG exports approximately 15 million tons of high-grade bauxite annually. Mining rights extend until 2038.
Alcoa office in Guinea is located at:
6e étage, App. #1
Commune de Kaloum
Through Alcoa’s ownership interest in Halco (Mining) Inc., we are proactively monitoring CBG’s approach to community issues and its response to a complaint filed through the International Finance Corporation’s (IFC) grievance mechanism. The complaint alleges contraventions by CBG of IFC Performance Standards, including in relation to resettlement and environmental impacts. CBG has agreed to participate in a mediation process facilitated by the Compliance Advisor Ombudsman of the IFC. The mediation is currently underway.
As a Halco Shareholder, Alcoa has increased its support to CBG through Halco by providing additional expert help in the form of senior specialist personnel with extensive experience on resettlement and human rights. We welcome the Ground Rules agreement reached by the parties in December 2020, which sets out the principles to be followed by all parties involved in the mediation process.
More information: Compliance Advisor Ombudsman, the independent accountability mechanism for the International Finance Corporation