MOSCOW, 11-7-2014 — /EuropaWire/ — UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), a leading, global aluminium producer, announces the beginning of Dian-Dian project in the Republic of Guinea.
The first stage of the Dian-Dian project involves the construction and putting into operation by 2016 of a bauxite mine with an annual capacity of 3 mln tonnes with the potential for a further increase of up to 6 mln tonnes. To transport bauxite from the mine, a new 25km road will be built. The total investment for the first stage of the project will be more than USD220mln. A significant part of this budget is reserved for infrastructural development in Guinea, specifically railway and port development.
‘I am confident that this project will prove to be a win-win for the Guinean government and RUSAL, which will help to develop a positive investment climate in the republic and improve RUSAL’s competitiveness as a leader in the global aluminium industry and one of the largest investors to Guinea,’ Vladislav Soloviev, the First Deputy CEO commented.
The right to develop Dian-Dian, which is the world’s largest bauxite minefield with confirmed reserves of 564 mln tonnes, belongs exclusively to RUSAL. The realization of the project will mean the creation and stage-by-stage increase in the ability to mine, transport, process and store bauxite. Following a decree by the Guinean President in December 2013, the Dian-Dian project was classified as having “state importance”.