Global Alumina has received the green light to develop and operate a joint-venture alumina refinery project in the Republic of Guinea, following board approvals from two joint-venture partners, Dubai Aluminium (a BHP Billiton subsidiary) and Mubadala Development Company.
Global Aluminium said in statement on Monday that it was in the process of resolving final outstanding issues and that it was still awaiting management approval from another partner.
Moreover, it said that the joint venture partners, who were also lenders under the $100-million loan facility agreement, had agreed to extend the date within which to execute the joint-venture agreements to facilitate finalisation by another week, to March 10. To date, the Global Alumina had drawn down an aggregate of $48,35 -million under the loan facility agreement.
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