“Emirates International Aluminum” condemns the withdrawal of mining franchise to its company in Guinea

Emirates International Aluminum Company strongly condemns the decision taken by the government of the Republic of Guinea to cancel the mining concession of Guinea Alumina Corporation and transfer it to the government entity, NIMA for mining, M. M., which was recently established and this decision comes in the wake of the suspension of Guinea Alumina Corporation illegally since the fall of 2024 and an illegal advertisement attempt to finish The basic agreement that allowed the company to work in Guinea. These measures taken by the government of the Republic of Guinea combined are an actual confiscation of the investments of the Emirates International Aluminum Company in the Republic of Guinea.
These measures also constitute a flagrant violation of the contractual and legal rights of Guinea Alumina Corporation, and more than 3,000 local jobs are at risk, and serious concerns about the commitment of the Republic of Guinea to the rule of law.
Guinea Alumina Corporation was a major engine for long -term social and economic development in the Boki region, as it contributed 244 million dollars in the Guinean economy and invested 700 thousand dollars in social projects during the year 2024 only.
The non -legal and hostile seizure represents more violations of the contractual obligations of the Republic of Guinea and undermines any credibility in its dealings with foreign investors.
By re -allocating mining rights to Guinea Alumina Corporation to another entity, which appears to be affiliated with the Republic of Guinea despite the absence of transparency, the Republic of Guinea indicated its willingness to violate the basic legal principles at the expense of investor confidence and transparency of the long -term national governance.
The UAE International Aluminum maintains all its rights, and Guinea Alumina Corporation will seek to obtain compensation it deserves through the legal means that it has already taken and any other legal measures before the competent judicial authorities. Guinea Alumina Corporation, with the support of Emirates International Aluminum Company, remains committed to protecting its rights and the interests of its employees, partners and shareholders.