{"id":15656,"date":"2024-11-12T09:17:03","date_gmt":"2024-11-12T05:17:03","guid":{"rendered":"https:\/\/gbc1.net\/?p=15656"},"modified":"2024-11-12T13:38:48","modified_gmt":"2024-11-12T09:38:48","slug":"lindian-and-egec-partner-to-exploit-woula-bauxite-mine-in-guinea","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2024\/11\/12\/lindian-and-egec-partner-to-exploit-woula-bauxite-mine-in-guinea\/","title":{"rendered":"Lindian and EGEC Partner to Exploit Woula Bauxite Mine in Guinea"},"content":{"rendered":"\n

On 11 November, Lindian Resources<\/a> announced that it has secured a 10-year lease agreement and royalty deed on the Woula bauxite mining project. At the same time, Lindian is negotiating on multiple fronts with respect to financing of the Kangankunde Rare Earths Project. The efforts are in line with the vision of the company to ‘become a globally significant #CriticalMinerals<\/a> producer.’<\/p>\n\n\n\n

In turn, Lindian (ASX:LIN<\/a>) has signed an agreement with local leading contractor ‘Entreprise G\u00e9n\u00e9rale d’Entretien et de Construction (EGEC)’ to exploit the bauxite mine at Woula. According to the agreement, EGEC commits to operationalize the mine within eight months. Once in operation, the mine will have a production capacity of 2 millions tonnes annually.<\/p>\n\n\n\n

EGEC is one of the top construction companies in Guinea. Over recent years, it has acquired several mining licenses for gold mines and granite quarries. With this new agreement, EGEC becomes one of the rare local companies to enter the #bauxite<\/a> mining sector, which was previously dominated by foreign investors.<\/p>\n\n\n\n

\n

“We are pleased to sign this binding MoU with Lindian for the Woula bauxite mine, which constitute a unique opportunity for rapid and cost-effective operationalization of a mining asset. We have already performed preliminary works to demonstrate our capabilities. Moreover, we are in a position to facilitate the obtention of the exploitation license soon.”<\/p>\nEGEC CEO Lancinet Dabo<\/cite><\/blockquote>\n\n\n

\n
\"\"
In addition to Woula, Lindian also has interests in Gaoual and Lelouma bauxite mines.<\/figcaption><\/figure><\/div>\n\n\n

In 2022, Guinea exported 102 millions tonnes of bauxite. Three enterprises ‘Soci\u00e9t\u00e9 mini\u00e8re de Bok\u00e9 (SMB<\/a>)’, China Aluminum Company (Chalco<\/a>) and Guinea Alumina Corporation (GAC<\/a>), owned respectively by Singaporean, Chinese and Emirati, accounted for more than 60% of the total export.<\/p>\n\n\n\n

Mining is one of the main industries in Guinea, contributing 21% of its national #GDP<\/a> and 90% of its exports. According to the IMF, the economic growth rate of Guinea is expected to average 6.7% over the 2025-2028 period thanks to substantial #FDI<\/a> and operationalization of bauxite and gold mine projects in the pipeline.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

On 11 November, Lindian Resources announced that it has secured a 10-year lease agreement and royalty deed on the Woula<\/p>\n","protected":false},"author":1,"featured_media":15660,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[4],"tags":[707,147,38,148],"yoast_head":"\nLindian and EGEC Partner to Exploit Woula Bauxite Mine in 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