Wholly state-owned Nimba Mining Company (NMC) has signed a major commercial and pre-financing agreement valued at over $300 million with Swiss commodities group Glencore to market up to 12 million tonnes of Guinean bauxite annually over a five-year period.
Formalized on September 7 in Paris following an international tender process, the deal secures offtake commitments ranging between 50 million and 60 million tonnes total, translating to a monthly shipment volume of approximately 830,000 to one million tonnes. The long-term contract provides NMC with predictable sales volumes and cash flows as the state miner continues to scale operations across its integrated supply chain, which links the Tinguilinta mine to port facilities at Kamsar.
The agreement comes as Conakry accelerates its broader mineral sovereignty policy under the Simandou 2040 framework, aiming to move beyond raw ore exports toward domestic industrial transformation. With three local alumina refineries currently under construction across the country, government officials—including Mining and Geology Minister Bouna Sylla and Simandou Strategic Committee Chairman Djiba Diakité—highlighted the partnership as a significant vote of confidence in Guinea’s mining sector. Since starting operations in 2025, NMC has exported over four million tonnes of bauxite and built a workforce where Guineans comprise 98 percent of direct employees, while Glencore secures crucial long-term access to high-grade bauxite to feed its global alumina and aluminium trading operations.
AC/lb/abj/APA