Global Alumina Announces Joint Venture Budget Approval

    TORONTO, June 25 /CNW/ -- Global Alumina Corporation (TSX: GLA.U) (the
"Company" or "Global Alumina"), a corporation participating in a joint venture
to develop an alumina refinery, mine and associated infrastructure in the
bauxite-rich region of the Republic of Guinea (the "Project"), announced that
the joint venture board of directors held a meeting in Guinea at which it
approved additional Project funding of $15.8 million for the months of July
through September 2009, of which Global Alumina will be responsible for its
one-third share.

    The joint venture board also held successful meetings with senior
representatives of the Government of Guinea, which included a review of the
Project's progress and tours of the resettlement villages and the construction
works underway at the refinery site.

    Global Alumina has approximately $84.4 million in cash, $61.9 million of
which is in escrow available for Project development and $22.5 million of
which is unrestricted and available for general corporate purposes.  The
Company also has a $33.3 million subscription receivable due to the Company on
the completion of the Project debt financing.

    About Global Alumina
    Global Alumina and its joint venture partners are developing a 3.6
million metric tons per annum steady state capacity alumina refinery located
in the bauxite-rich region of the Republic of Guinea.  The joint venture
partners in the Project are Global Alumina International, Ltd., a wholly owned
subsidiary of the Company, BHP Billiton, Dubai Aluminium Company Limited and
Mubadala Development Company PJSC.  The Project is one of the most advanced
new projects in Guinea with the refinery already in feasibility stage and
critical path infrastructure and site work already underway.  The Company
offers a first mover advantage over other projects in the region and an
opportunity for socially responsible investing in a country that holds over
one-third of the world's bauxite resources. Global Alumina is headquartered in
Saint John, New Brunswick and has administrative offices in New York, London
and Montreal. For further information visit the Company's website at


For further information:

For further information: Michael Cella, Global Alumina, +1-212-351-0010,, or Barbara Cano, Breakstone Group, +1-646-452-2334, Web Site:

Organization Profile

Global Alumina Corporation

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890