VENTURES AFRICA – Guinea’s bauxite mining company, Alufer Mining has earmarked $400 million to develop its Bel Air bauxite project in the Boffa region of Guinea. This information was contained in documents submitted by the company to the West African state’s mines ministry.
Aluxer has mining exploration permits in the Boffa, Labe and Kindia regions of Guinea, these regions have a potential reserve of over 3 billion tonnes of aluminium ore.
“A pre-feasibility study was completed in Bel Air in late 2011 and the company plans to build a mine with a capacity of 10 million tonnes per year by 2014,” the document said.
So far, Alufer’s total investment in the project has been valued at $22 million and the company is set to invest $400 million to develop the mine.
Officials of Guinea’s mines ministry confirmed the submission of Alufer’s project documents to the government although it is unclear whether exploitation would begin in 2014 as planned by the company.