In a decree read on Guinean national television on March 21, 2024, the president of the Guinean transition, General Mamadi DOUMBOUYA, declared the alumina refinery project led by the company “Alteo Refinery Guinea” to be a project of national interest (PIN). This PIN is valid for three (3) years and is renewable once. It concerns the construction and operation of an alumina refinery, industrial facilities, a base camp, and a bauxite ore transport corridor.

The Alteo Refinery Guinea (ARG) project is being developed by SMB and UMS, which acquired the French company Alteo in early 2021 following the latter’s legal troubles. Alteo was the world leader in specialty alumina, used primarily in the manufacture of smartphone screens and electric vehicle batteries.