Mubadala and Dubal look to move up stream

Gulf investment vehicle Mubadala Development Company plans to join with local aluminium producer Dubai Aluminium (Dubal) to create a company to buy stakes in bauxite mining companies.

The two companies will set up Emal International to look at acquisitions or developments in the bauxite sphere, Waleed Al Muhairi, Mubadala Chief Operating Officer, told local press.

The two have already just joined the consortium to construct and operate a new 3-million tpy alumina refinery in the West African country of Guinea, taking a combined one third stake.

"The issue here is the security of supply of alumina," Muhairi reportedly said, adding: "We aim to be among the top five producers of aluminium in the world and for that we need supply."