Ashapura, China Railway Partner to Develop Guinea's Fako Bauxite Deposit

20 Jan 2025 , 11:45 AM

Ashapura Minechem Ltd, the country’s leading bauxite exporter, said on Friday that its overseas subsidiary has signed an agreement by signing a long-term MoU with Fortune 500 ranking China Railway Global.

The MoU formalizes a strategic partnership to develop the Fako bauxite deposit, which is located in the region of Kindia in Guinea. The agreement also, on one side, calls upon China Railway to take up the entire value chain management in bauxite production, logistics solutions, and on the other side, it is Ashapura Minechem which shall be performing the sales and marketing, technical support, and quality assurance aspects for the said project.

The project is likely to change the face of the backward region of Kindia in Guinea by providing jobs and stimulating economic activities. This would further add to increasing Ashapura Minechem’s production capacity and enhancing socio-economic development within the communities around Fako.