By: Reuters

Guinea is discussing investment opportunities with Glencore GLEN.L in alumina refining and energy projects beyond last week's bauxite marketing deal, its mines minister said, as it seeks to diversify its funding sources and export markets beyond China.

Guinea's state-owned Nimba Mining and diversified miner and trader Glencore last week signed a more than $300 million bauxite pre-financing and offtake agreement, giving Glencore a significant foothold in Guinea, home to some of the world's largest bauxite reserves.

Under the terms of the deal, the Swiss commodities giant will market 10-12 million metric tons of the aluminium feedstock annually over the next five years, the companies said.

Guinea's Mines Minister Bouna Sylla said the agreement could be a springboard for Glencore to invest more broadly across the country's aluminium sector as Conakry pushes to develop domestic processing capacity.

"Glencore has indicated strong interest in growing its business in Guinea, and we are equally interested in expanding the partnership," Sylla told Reuters over the weekend.

"Based on this agreement, we will develop the partnership with Glencore beyond bauxite, including alumina refining, energy and other strategic investments."

Glencore declined to comment further.

MORE THAN 70% OF GUINEA'S BAUXITE EXPORTS GO TO CHINA

Guinea overtook Australia as the world's largest bauxite producer in 2023 and began iron ore exports from the giant Simandou project in 2025.

More than 70% of its bauxite exports go to China, while Chinese-linked firms hold a controlling interest in Simandou. The project's other owner is Rio Tinto RIO.L, RIO.AX, with which Glencore held merger talks earlier this year.

Sylla said the Glencore agreement and the recent settlement of a long-running dispute with Middle East aluminium and alumina producer Emirates Global Aluminium fit into a broader strategy to diversify partnerships while maintaining strong ties with China.

"China remains an important partner, but Guinea also wants stronger links with the Middle East and other regions," he said.

(Reporting by Maxwell Akalaare Adombila; Editing by Clara Denina and Jan Harvey)