Nimba secures mining convention
Guinea bauxite miner Nimba Mining Company (NMC) reports that the signing of its mining convention has been concluded, establishing a clear and stable legal framework for the company to conduct activities across the value chain, from the extraction of bauxite at the Tinguilinta mine to its export from the Port of Kamsar.
The mining convention, granted by decree, sets out the reciprocal rights and obligations of the Guinean State and the company for the full duration of operations. It secures the applicable regime to NMC's activities in fiscal, customs, environmental and social matters and gives the company the required visibility to commit to its long-term investments, starting with the ramp-up of the Tinguilinta site and the studies on local bauxite processing.
This milestone comes as NMC celebrates its first anniversary.
“Formalising the signing of our mining convention is both an honour and a responsibility. This text gives NMC the clear legal framework an industrial company needs to invest and to last. The past year is a great source of hope: in 12 months, Guinean teams have brought a mine, a railway and a port back into service and lifted our exports beyond four-million tonnes. It is this momentum that we are putting at the service of Simandou 2040, of which NMC intends to be one of the pillars,” says NMC CEO Patrice L’Huillier.
NMC expects to ramp its operations up to ten-million tonnes this year and then to 12-million tonnes a year from 2027.
The company is also launching feasibility studies for a 1.2-million-tonne-a-year alumina refinery to process the mined bauxite.
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