Kamsar, April 30, 2024 — Guinea Alumina Corporations SA (GAC) announced today that it had paid 20.1 billion Guinean francs to the Boké Local Economic Development Fund (FODEL) for the year 2023. The FODEL is a development fund fueled by the Contribution to Local Development of each mining title holder.
This contribution demonstrates GAC’s ongoing commitment to the well-being of local communities and the sustainable development of the Boké region. We are committed to intensifying our collaboration with all stakeholders, in order to catalyze inclusive and beneficial economic and social growth for the region. Our vision is that of community synergy where each initiative taken is a step towards a bright and sustainable future.
Beyond this contribution, our commitment to local communities has been relentless since the start of our operations. We have made it our mission to promote sustainable economic growth for the communities around us, which are therefore at the heart of all local development initiatives. It is within this framework that capacity building programs in vital sectors such as agriculture and fishing were initiated. These programs have enabled young people and women to create income-generating activities with notable benefits for families today. Education and health are priority sectors in which we make our contribution through our Corporate Social Responsibility department.
About GAC
Guinea Alumina Corporation SA (GAC) mines and exports bauxite, the ore from which aluminum is obtained. It is a wholly owned subsidiary of Emirates Global Aluminum (EGA), based in the United Arab Emirates. The company directly provides employment to more than 3,000 people, 96% of whom are of Guinean nationality, and operates a mining concession located in the northwest of the Republic of Guinea, in West Africa. Once extracted, the ore is transported by rail to the company’s port facilities in Kamsar, on the country’s Atlantic coast, and then shipped by sea to global markets. In 2023, GAC’s direct contributions to the Guinean economy in terms of salaries, local purchases, government payments and social contributions amounted to more than $280 million. For more information, visit www.gacguinee.com.
