Last week Guinea’s prime minister Dr. Bernard Goumou was present for the launch of the 1.5 billion metric ton Koumbia bauxite project.
The Koumbia bauxite project is part of the larger Alliance Mining Commodities (AMC) project and is estimated to require a capital investment of over US$1 billion. Located in the Boké region, the project is about 140 miles north of the Guinean capital Conakry and 80 miles north of the port of Kamsar.
The play consists of a 281 square mile mining concession which has an estimated 15 plateaus of contiguous high-quality bauxite. Alliance Mining Commodities Ltd (AMC) has thoroughly explored the region and conducted a Bankable Feasibility Study (BFS), in which it found that extracting bauxite ore at the site to be commercially worthwhile.
According to AMC, the bauxite lies flat at the surface and is highly continuous and of low variability. As a result, the firm estimates that retrieval of bauxite from the area will be significantly less difficult than at other mines of the same size.
AMC is a privately-owned firm and currently owns the rights to mine at the site. However, the Guinean government owns a 10 percent free carried interest in the firm.
