Guinea Alumina Corp, the bauxite mining project developer and unit of Emirates Global Aluminum (EGA), is nearing to raise between $700 million to $750 million in funding.
With the net funds, Guinea Alumina Corp will advance its $1.4 billion bauxite mining project in the Republic of Guinea.
EGA, which in 2018 booked $6.4 billion in revenue, said the project is in the final stages and expected to be completed very soon.
The company, a unit of Mubadala Development Co., further announced plans to launch an initial public offering and is waiting for market conditions to improve.