TORONTO, May 24, 2013 /CNW/ - Global Alumina Corporation (TSX: GLA.U) (the "Company" or "Global Alumina") is pleased to announce that the Ministry of Mines and Geology of the Republic of Guinea has issued a no objection letter (the "NOL") in connection with the previously announced sale by the Company of all of its interests in Guinea Alumina Corporation Limited ("Guinea Alumina") to DM GAV Limited ("DM GAV"). The receipt of the NOL satisfies a material condition precedent to the completion of the transaction pursuant to the terms of the share purchase agreement entered into by the Company and DM GAV (the "SPA").
Completion of the transaction remains subject to, among other things, completion of DM GAV's acquisition of BHP Broken Hill Proprietary Company PTY Limited's interests in Guinea Alumina and to regulatory and shareholder approvals. Reference is made to the complete terms of the SPA, a copy of which is available on the Company's SEDAR reference page at www.sedar.com.
Additional information regarding the transaction may be found in the Company's news release dated May 15, 2013 and the related material change report dated May 17, 2013, each of which is available on the Company's SEDAR reference page at www.sedar.com.
About Global Alumina
Global Alumina is in a joint venture through its wholly-owned subsidiary, Global Alumina International, Ltd., with BHP Billiton, Dubai Aluminium and MDC Industry Holding Company LLC (as successor to Mubadala Development Company PJSC), to develop an alumina refinery in the bauxite-rich region of the Republic of Guinea. 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 www.globalalumina.com.
SOURCE: Global Alumina Corporation
For further information:
Michael Cella, Global Alumina, 212 351 0010, [email protected]