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Economic assessment on Guinea bauxite project

Anglo campsite

Anglo Aluminium campsite
in Guinea

TSX listed Anglo Aluminium is undertaking a preliminary economic assessment of its Koba and Koumbia bauxite projects in Guinea. That study will investigate the economics of mining operations at Koba and/or Koumbia.

Koba hosts NI 43-101 compliant indicated resources of 343 million tonnes averaging 42.78% Al2O3, 2.85% SiO2, and 27.83% Fe2O3, and an additional 63 million tonnes averaging 43.81% Al2O3, 2.74% SiO2, and 26.76% Fe2O3 classified as inferred resources.

The projects are located in the Boke bauxite belt in north-western Guinea, where three existing bauxite mines already operate. Guinea is one of the largest bauxite producers in the world, and hosts 30% of the global bauxite resources. The Boke bauxite belt itself hosts the world’s largest and highest quality bauxite deposits with grades of 40% – 60% alumina.

Three refineries have been proposed for construction in Guinea within the next decade, all of which will be within close proximity to the Anglo Aluminum permit area.

In addition to the Koba and Koumbia projects which cover a land package of 536 km2, Anglo Aluminum recently acquired the Mamou-Dalaba bauxite project in that country. This comprises four exploration permits covering 1,832 km2 in south-western Guinea.

Anglo Aluminum acquired the Mamou- Dalaba project through an agreement to purchase 100% of the issued share capital of Societe Guineenne de Fer et de Bauxite (SGFB), a local Guinean company that holds the four Mamou-Dalaba bauxite permits. SGFB also holds 14 base metal and four iron ore permits in the Beyla and Kankan areas, and three uranium permits in the Beyla area in south-eastern Guinea.