MARKET TALK: BHP Guinea Alumina Deal Approved

Global Alumina approves deal that will see BHP (BHP.AU) and others form joint venture to develop and operate its alumina refinery in Guinea; to sell two-thirds of project to BHP, DUBAL and Mubadala for about US$260 million. BHP and rival Rio Tinto (RIO.AU) already working on projects in Guinea; push into Africa underlines willingness to take on more risk as they go in search of large projects that can make a material contribution.