LONDON--Bauxite output at OAO United Company Rusal's Kindia mine hasn't been hit by the review of its concession agreements with the government of the Republic of Guinea, a company spokeswoman told Dow Jones Newswires Monday.
The appendix regulates payments for renting a certain portion of equipment, Larissa Belyaeva said, adding a review of the concession agreement by the National Assembly - due April 13 - was postponed as the appendix needs to be revised.
"This in no way affects the overall fulfillment of the concessions agreement that was signed in complete accordance with Guinean legislation and has received all necessary approvals by the Parliament and the Government of Guinea," Belyaeva added.
Rusal manages the 3 million metric tons a year capacity Kindia bauxite mining complex, which consists of the Debele mine, a railroad connecting the mine with Conakry port and the port itself. An average of four to five vessels carrying bauxite leave Conakry for Rusal's Nikolayev refinery in Ukraine each month. Rusal also operates the Friguia alumina refinery in Guinea, which has a 780,000 tons a year capacity.
Guinea's 15 million tons of annual bauxite exports equates to about 8 million tons of alumina, making it the world's biggest exporter of the ore.
In March, the general secretary to the minister of mines and geology said in an interview that Guinea plans to revoke untouched mining licenses under new, tougher laws to ensure the country fully benefits from its wealth of mineral resources.
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