Kamsar, November 12th, 2019 Guinea Alumina Corporation (GAC) today announced that the first Capesize vessel has sailed from the transhipment facilities offshore the companys port in Kamsar, Republic of Guinea.
Kamsar, November 12th, 2019 — Guinea Alumina Corporation (GAC) today announced that the first Capesize vessel has sailed from the transhipment facilities offshore the company’s port in Kamsar, Republic of Guinea.
The vessel, the MV Berge Rosa operated by shipping line Berge Bulk, is bound for a customer in India laden with 173,000 tonnes of bauxite ore. Capesize vessels are amongst the world’s largest bulk cargo ships and some 300 metres long. Bauxite exports from GAC began in August, but have so far only used smaller vessels.
Abdulla Kalban, GAC Chairman of the Board, said: “Using Capesize vessels to transport bauxite from GAC lowers shipping costs per tonne and contributes to the global competitiveness of our ore. The Capesize vessel that has sailed today is the first of many over the decades ahead as GAC ramps up, reliably supplying our bauxite customers around the world.”
GAC General Manager, Aissata S. Beavogui, said: “This first Capesize load gives us a great sense of pride. The successful transition from construction to safe and responsible operations is continuing and we are heading up to full capacity production as planned. While we are doing so, we remain focused on what is important to us: producing bauxite of the best quality possible, in a safe and responsible manner, whilst forging a reputation of excellence and building a future full of opportunities and pride for the Republic of Guinea.”
The GAC project was one of the largest greenfield investments in Guinea in the last 40 years and cost some $1.4 billion to develop. More than half the funds were provided by the largest greenfield mining project financing ever in Guinea – a $750 million loan from development finance institutions, export credit agencies and international commercial banks.
GAC is expected to contribute some $700 million each year, a 5.5 per cent boost to the national economy, once production is fully ramped-up. It aims to enable a prosperous Guinea, turned into the future.
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