Guinea's Bold Move: Revoking EGA's Mining Licence Amidst Regional Resource Control Trends
Guinea has initiated steps to revoke the mining licence of Emirates Global Aluminium (EGA), reflecting a trend among West African nations to assert more control over mineral resources. The dispute, ongoing since October, stemmed from concerns over customs duties and has led to EGA's suspended operations.
Guinea has initiated proceedings to rescind Emirates Global Aluminium's mining licence in the country, insiders informed Reuters on Wednesday. EGA, jointly owned by Abu Dhabi's Mubadala and Dubai's Investment Corporation, operates a significant bauxite mine in Guinea through its subsidiary, Guinea Alumina Corporation.
Responding to Reuters, EGA expressed its commitment to resolving issues with the Guinean government and resuming operations. Since October, EGA has been embroiled in a dispute with Guinea, which halted its bauxite exports and mining activities, citing customs duty concerns.
The move to cancel EGA's licence mirrors a broader push among resource-rich West African countries to gain tighter control over their mineral assets. Governments in Guinea, Mali, Niger, and Burkina Faso have been revising mining laws, negotiating contracts, and increasing state involvement to secure more revenue from the mining sector.
(With inputs from agencies.)
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