Due to the decline in profits in 2018, the United Arab Emirates Global Aluminum (EGA) plans to start the Abu Dhabi alumina plant and the Guinea bauxite mining project to reduce raw material costs.
Once the alumina refinery in Abu Dhabi and the bauxite mining project in Guinea are launched and fully operational, the impact of raw material market prices on EGA will be greatly reduced.
At present, the alumina plant is under construction with an investment of 3.3 billion U.S. dollars. As part of the entire industrial chain, the Guinea Bauxite project has invested 1.4 billion U.S. dollars.
The Al Taweelah plant meets 40% of EGA's alumina demand and is expected to start in the first half of this year. The first export of mining projects is expected to begin in the second half of this year.
The mine will produce 12 million tons of bauxite annually and sell the ore to third-party customers around the world, creating a new source of revenue for EGA and securing bauxite demand for the Al Taweelah alumina refinery.
In 2018, EGA cast metal production reached a record 2.64 million tons, up from 2.6 million tons in 2017, of which nearly 90% of production was exported and the rest was used by local customers.