Elite Mining Guinea, a new bauxite miner in Guinea designed with 10 mtpy mining capacity is set to commence operations in November 2020. The company has set a target of 1 mln t of bauxite output for 2020 with 500 kt per month in November and December respectively.
Located at the Kindia region of Guinea, the mine is approximately 100 km from the port. Infrastructure development started one year ago and 80% of road construction is complete.
Elite Mining has a total resources reserve of 360 mln t of bauxite (Al2O3 42% min and SiO2 3% max grade) and intends to ship its bauxite by Cape-size vessels to the China market.
Mainstream CIF China prices of Guinean bauxite (Al2O3 45% min, SIO2 3% max grade) currently stand at USD44~45/t down by USD0.5/t. Domestic refineries’ demand for bauxite imports have shrunk in sluggish market conditions.