Alcoa Increases Stake In Halco
Alcoa recently announced that its Alcoa World Alumina affiliate, a global alliance between Alcoa (60%) and Alumina Limited of Australia (40%), has increased its ownership stake in Halco (Mining) Inc. from 43 to 45% as part of Comalco's sale of its interests in the project. Alcan Inc., the other participant in Halco, also increased its stake through two subsidiaries from 43 to 45%. Alcoa and Alcan each paid Comalco $5,875,000. Halco is a 51% owner of Compagnie des Bauxites de Guinee (CBG) which mines bauxite in the Boke region of Guinea for export. The Government of the Republic of Guinea holds the remaining 49% of CBG. CBG has exclusive rights through 2038 to bauxite reserves and resources in a 10,000-square-mile area in the northwestern part of the country.
More information can be found at http://www.alcoa.com