Koumbia Bauxite Project

AMC plans to export high-grade bauxite from its flagship Koumbia bauxite project in 2016. The project will provide suitable feed for refineries around the world and will be competitive on cost, quality and reliability.

The deposit contains an indicated and inferred total resource base of 2.2 billion tonnes. The resource includes 305 million tonnes at 48% Al2O3 (Measured and indicated) and 250 million tonnes at 48% Al2O3 (Inferred). Reactive silica at 1% with a high Gibbsite content and an average thickness of less than 10 meters with no overburden.

The Koumbia Project has en identified infrastructure solution. Ore mined from the Koumbia Project will be transported on a new rail line 96km to a proposed River Port site on the Rio-Nuñez. Barges will then transport the bauxite 100km down the Rio-Nuñez to deep water in the outer estuary, where the bauxite would be off-loaded to a marine Trans-Shipper. This option, as opposed to the construction of a coastal port, would save considerable costs to the project, as well as removing potential ship-loading constraints and allowing the loading of Panamax and Cape Class Vessels.

AMC has a granted Mining Concession from the Government of Guinea (granted November 2010), which provides all approvals required to commence constructions and operations of the project. AMC has significantly progressed the Environmental & Social Impact Assessment (ESIA), with all baseline studies now complete and final document preparations underway. AMC is planning to lodge its final ESIA document with the Government of Guinea in November 2012 and expects a 3 month approval timeframe.

The completion of the Bankable Studies for the project has outlined the potential development timeline as below.

About the Republic of Guinea

AMC has focused exploration efforts on its tenements in the Republic of Guinea, which is regarded as the world’s premier bauxite province – home to 40 per cent of the world’s known bauxite resources and 10 per cent of production.

The Guinean Government supports mining investment and holds a 10 per cent free carried investment stake in the Koumbia bauxite project.

Guinea is a preferred location for major alumina producers including Alcoa and Rio Tinto, with continued investment in the region by leading alumina producers and bauxite miners expected to continue.