Investment firm Mubadala has signed a US$5bn agreement with the government of Guinea to develop a bauxite mine and an alumina refinery in the country, which would help it secure raw material for its UAE aluminium plants
Metals
South Africa’s Scaw Metals to open US$40 million grinding plant in Ghana
South African steel products manufacturer Scaw Metals Group has partnered with the Guma Group and Jospong Group of Companies to construct a US$40mn grinding plant in Tema, Ghana
Kumba Iron Ore and ArcelorMittal South Africa sign supply deal
Kumba Iron Ore, a subsidiary of miner Anglo American Plc, has signed an agreement with ArcelorMittal South Africa (AMSA) to supply 6.25mn metric tonnes of iron ore annually to the steel manufacturer
Egyptian Steel planning for IPO in 2015
Manufacturer Egyptian Steel has announced that it has planned for an initial public offering (IPO) in 2015 and expects to float up to 30 per cent of its shares in the local stock market
Platinum production venture created in Zimbabwe
State-owned Zimbabwe Mining Development Corporation (ZMDC) has formed a platinum metal production joint venture with UK-listed Eurasian Natural Resources Corporation (ENRC) and an unnamed Chinese firm