RIO rio tinto limited

(Adds context, detail) CONAKRY, June 10 (Reuters) - Guinea's...

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    (Adds context, detail)

    CONAKRY, June 10 (Reuters) - Guinea's junta has given bauxite mining companies 10 days to present a timeline for the construction of alumina refineries, extending what had been a deadline at the end of May that has already passed, it said in a statement on Friday.

    Africa's biggest producer of the aluminium ore has been seeking to channel its mineral wealth into economic development, pressuring companies in recent years to commit to building local facilities to refine bauxite into higher value alumina.

    "As of today, it has been noted that none of the companies has complied," said the statement, a readout from a June 9 cabinet meeting.

    The companies affected by the alumina ultimatum include Guinea's top two bauxite producers Societe Miniere de Boke (SMB) and Compagnie des Bauxite de Guinee (CBG). Neither company immediately responded to a request for comment.

    The government also said that partners in the Simandou iron ore mine would meet on Friday to finalise a joint venture between Rio Tinto RIO.L (RIO) and Chinese-backed consortium Winning Consortium Simandou.

 
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$114.79
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