Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension of the Emirati companys bauxite exports and mining operations.
The move by Guinea, the worlds second-largest bauxite exporter, threatens to further disrupt global aluminium supply chains and signals the resource-rich countrys hardening stance toward foreign miners as the junta that seized power in September 2021 pushes for more local processing of minerals.
The Guinean governments action was taken following EGAs failure to keep its promise to build an alumina refinery, a source close to the situation said, requesting anonymity because they were not authorised to speak.
A second source within Guineas Ministry of Mines told Reuters that officials had sent a final reminder letter to EGA regarding its refinery commitments, but the company did not respond.
A key point of the letter revolved around financing for the refinery, the source said.
