Glencore Finalizes Offtake Agreement with Guinea’s Nimba Mining

At the start of September 2026, Glencore announced that is is finalizing an offtake agreement with state-owned Nimba Mining Company. Based on the agreement, Glencore will provide USD 300 million in financing. In return, it will secure exclusive rights to market 12 million tonnes of bauxite annually over a five-year term.

The bauxite will originate from the Sangaredi mine in the Boke Prefecture, which was previously owned by Emirates Global Aluminium. However, the Government of Guinea took back the asset from EGL in August 2025, and the two sides are currently in the middle of an international arbitration. Thus, the upfront cash from Glencore could be applied to an eventual settlement with the Emirati group.

Commenting the deal, Guinea’s Minister of Mines Bouna Sylla underlined that although China remains a key partner in Guinea’s mining sector, the government is actively diversifying its commercial partnerships by engaging with Western and Middle Eastern concerns. At the same time, Building upon this breakthrough, Guinea is urging miners and new partners to invest in domestic alumina refining and energy generation, as smelting is very energy-intensive.