China-Africa Fund for Industrial Cooperation Co., Ltd. (CAFIC) provides $200 million term loan for SMB-Winning Boké Bauxite Mining Project

China-Africa Fund for Industrial Cooperation Co., Ltd. (CAFIC) provides $200 million term loan for SMB-Winning Boké Bauxite Mining Project On October 24, 2014, Société Minière de Boké (SMB) — a special purpose vehicle that is owned by the SMB-Winning Consortium, which consists of Shandong Weiqiao Aluminium & Power Co.

Ltd. (22.5% ownership stake), Winning Logistics (Africa) Company Limited [40.5% equity stake], United Mining Supply International Ltd [27% equity stake], and the Government of Guinea [10% equity stake] — was legally incorporated in Guinea to finance, design, build, and operate (a) a bauxite mine in the Kaboye and Dabiss plateau and Malapouya within the Boké region of the Republic of Guinea, and (b) international river port of Boké, which consists of two river terminals, in Dapilon and Katougouma, on both sides of the Rio Nunez river.

China-Africa Fund for Industrial Cooperation Co., Ltd. (CAFIC) and SMB subsequently signed a $200 million term loan facility agreement for the SMB-Winning Boké Bauxite Mining Project.

The SMB-Winning Boké Bauxite mine uses surface mining methods to extract ore. Mining operations are carried out at Kaboye and Dabiss plateau and Malapouya. SMB uses a Vermeer T1255 terrain leveller for its surface mining operations at the Boké region.

The company was earlier able to cut the surface at 21% or 120 degrees to extract surface minerals but the leveller enabled it to cut 36% or 200 degrees. The leveller eliminates the need for a primary crusher unit.

The extracted material is approximately less than 200mm, which enables it to be directly loaded to barges and ready for export. Ore transportation takes place via a dedicated and well maintained haul road with efficient dust control methods. United Mining Supply International Ltd is responsible for the land transportation part of the materials.

The mined ore is transported by trucks to two river terminals located in Dapilon and Katouguma.

The Kaouguma terminal covers an area of 41 hectares and features four quays or loading bays with a capacity of loading eight barges per day. Two of the four loading bays are equipped with mobile loader assisted 25Mt fixed rotating harbour cranes.

The third loading bay is equipped with a 3,500t/h conveyor belt, while the last has a receiving cradle for the third loading bay.

The Dapilon terminal has three loading stations — each equipped with rotary cranes — and is capable of loading six barges.

A 35 km mine-port road from Malapouya was built to accommodate 120 trucks for transportation of mined ore to the terminal. Floating cranes and a tugboat reached the Kamsar anchorage arrived at the project site on February 13, 2015. Then, on March 26, 2015, a foundation stone laying ceremony took place.

Four barges from Shanghai arrived at the project site on June 5, 2015. Approximately one month later, on July 7, 2015, a mining permit was successfully obtained .

The Katouguma river terminal was put into operation and the first shipment of bauxite was shipped to China from the same terminal on July 20, 2015. The shipment arrived in Yantai Port in China in November 14, 2015.

The SMB-Winning Boké Bauxite Mine realized production of approximately 1 million tons of bauxite in 2015, 11 million tons of bauxite in 2016, 32 million tons of bauxite in 2017, 42.0 million tons of bauxite in 2018, 41.0 million tons of bauxite in 2019, and 23.0 million tons of bauxite between January 1, 2020 and June 30, 2020.