Ivorian miner seeks $375m bauxite venture with Sumitomo
ABIDJAN – Lagune Exploitation Afrique in Côte d'Ivoire said it is in talks with a unit of Sumitomo Corp about a partnership for the development of a bauxite deposit and the construction of two alumina plants for 218-billion CFA francs ($375-million).
Lagune Exploitation is developing the 34.5-million metric tons Benene deposit in the country’s east that will produce 750 000 t of the alumina-making ingredient and 350,000 tons of calcinated metal in a year, Chief Executive Officer Moumouni Bictogo said Monday in an interview in the West African nation’s commercial capital, Abidjan. The company is also planning to build the two plants by 2025, he said.
Lagune is offering a 25% stake in the company, Bictogo said, declining to comment further on the nature of the talks with Sumitomo Corp Africa. Masafumi Tanimoto, general manager at Sumitomo’s liaison office for West Africa, declined to comment when requested at a function on Monday in Abidjan.
Bauxite producers in Côte d'Ivoire are ramping up production as China’s demand for aluminum is seen rising by almost half. Neighbouring Guinea is now China’s largest supplier of bauxite after overtaking Australia in 2017, shipping about 40% of total imports.
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