ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,443
11424hr
Pakistan Cases
721,018
505024hr
Sindh
268,750
Punjab
248,438
Balochistan
20,241
Islamabad
65,700
KPK
98,301

Aluminium 400DUBAI: Compagnie des Bauxites de Guinee (CBG) signed a long-term supply agreement with the United Arab Emirates for the main raw material in aluminium, the Gulf country's state news agency reported late on Friday.

 

"The agreement with Mubadala will make a significant contribution to Guinea's economy by enabling the expansion of CBG to more than 20 million metric tons of bauxite per year," Guinean Mines Minister Mohamed Lamine Fofana was quoted as saying by the Emirates News Agency.

 

The agency did not report the duration or value of the contract, which was concluded between CBG and the Emirates' investment fund Mubadala Development Co.

 

The Guinean company has an annual production of 13.5 million tonnes.

 

Fofana was also quoted as saying at a signing ceremony in Abu Dhabi that the new agreement would add $500 million to Guinea's gross domestic product.

 

In March Fofana said Guinea had started negotiations for Mubadala to take a stake in CBG, a joint venture between Guinea, Alcoa and Rio Tinto.

 

Guinea is the world's largest exporter of bauxite. The UAE's Dubai Aluminium Co (Dubal) produces around 1 million tonnes a year of aluminium, according to Gulf business website zawya.com.

 

Copyright AFP (Agence France-Presse), 2012