Alcoa recently announced that its Alcoa World Alumina LLC affiliate, Alcan Inc., and the Government of the Republic of Guinea have signed a protocol for jointly developing a 1.5 million metric ton per year (mtpy) alumina refinery in Guinea, West Africa. This protocol sets out the items and framework for the alumina refinery project that will be negotiated over the next few months as part of the memorandum of understanding (MOU) signed by Alcoa World Alumina and Alcan in May. A detailed feasibility study for the refinery is expected to be completed by mid-2005, with construction to begin shortly thereafter. Following the completion of the feasibility study, alumina production could be expected by 2008. The refinery, which would be operated by Alcoa, would be expected to have an initial 1.5 million mtpy capacity and it would be capable of expansion beyond this level. Alcoa and Alcan would market their respective alumina off-take independently, and the refinery would incorporate the latest technology and world-class operating and management systems.

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