Compagnie des Bauxites de Guinée SA (CBG)

Update on CBG

The Compagnie des Bauxites de Guinée SA (CBG) is a bauxite operation in Guinea owned by Halco Mining Inc (51%) and the Guinean government (49%). Halco is a consortium comprised of Rio Tinto (45%), Alcoa (45%) and Dadco Investments (10%). We participate on the boards of Halco and CBG, with representation on various shareholder oversight committees. 

 

Through our Board and committee roles, we have been proactively monitoring CBG’s approach to community issues and their response to the complaint filed through the International Finance Corporation’s (IFC) grievance mechanism. The complaint alleges contraventions by CBG of IFC Performance Standards, including in relation to resettlement and environmental impacts. 

We have increased our support to CBG by providing additional expert help in the form of a Guinea-based Africa specialist and a senior manager with extensive experience on resettlement and human rights and are encouraging CBG to work towards a constructive outcome aligned with international standards.

We welcome the Ground Rules agreement reached by the parties in December 2020, which sets out the principles to be followed by all parties involved in the mediation process.