AGB2A: The Sino-Guinean Bauxite consortium stands in trouble

AGB2A, a Guinea based company, which produces one of the best metallurgical grade bauxite for alumina refinery by dry beneficiation process involving crushing and screening of ore.

Now the Sino- Guinean consortium is in the eyes of the Guinean justice which ordered, on January 4, 2021, towards the seizure of its operations and cargo.

Sékouba Condé, dean of the examining magistrates of the Kaloum Court, in the First Instance struck his hammer hard on the Guinean Alliance (AGB2A ), a Sino-Guinean consortium by ordering the seizure conservatory of the cargo of the vessel Prosper Sunwaito, located at the quay of the port of Boffa and all other quantities of bauxite from the exploitation of the mines of its companies Axis and GBD.

The request for protective measures was formulated by the law firm SCPA-Les Rivières du Sud, representing Chinese partners of AGB2A who accuse shareholders of the company which are the French Lorcy Claude and the Chinese Dengeai Chen, Zun Zhang and Kelin Zhang "fraud", "breach of trust", "forgery of private writing" and "abuse of company property".

AGB2A is expected to ship 5 million tonnes of bauxite per year to China. The Sino-Guinean consortium, which in 2019 acquired the right to exploit two bauxite permits, sent 200,000 tonnes to China during the first half of 2020. Since then, the company has reportedly sent nothing. Hence the initiation of this procedure before the Kaloum court of the first instance. Presently in difficulty, AGB2A would even struggle to pay its Chinese workers in Guinea.