Name of the Project
Bel Air bauxite project.

Location
The project is located in central north-west Guinea.

Client
Alufer Mining.

Project Description
The proposed project comprises the extraction of ore from six openpits 15 km from the planned export facility at Cap Verga.

More than 146-million tonnes of the Joint Ore Reserves Committee-compliant resource has been identified. The pits will be mined sequentially using Wirtgen surface mining technology, followed by the haulage of bauxite to the export facility where barges are loaded to transfer the direct shipping ore to the transshipment zone located 25 km off the coast. The project is expected to have a 15-year mine life, including less than two years of construction.

Jobs to Be Created
About 610 people will be employed at peak construction and 485 during operation. The project will prioritise local recruitment and will aim for at least 30% of the operations jobs to be allocated to residents of the local community and nearby settlements.

A training programme is being developed to support local residents in becoming ‘employment ready’ for the operations phase.

Net Present Value/Internal Rate of Return
Not stated.

     Value
Not stated.

Duration
All required permits are in place, and construction will begin in February 2017, with first commercial production scheduled for the third quarter of 2018.

Latest Developments
Alufer has successfully completed a financing package of $205-million from the US, West Africa and other international investors.

The company has raised $90-million in convertible debt and $35-million in equity from a consortium comprising Resource Capital Funds, the Africa Finance Corporation, Orion Mine Finance and existing shareholders.

Alufer has also secured $80-million of senior debt from Orion Mine Finance. Additionally, Alufer has signed a six-year offtake agreement with Orion Mine Finance, which will work with the company to market the product and secure revenue during the ramp-up.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Alufer Mining communications, Scott Fulton, tel +44 7788 144993 or email scott.fulton@alufermining,com.