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 environmental protection, community issues and human rights. We are aware of the concerns regarding access to land and water, the pace of livelihood restoration programmes as well as aspects of CBG’s stakeholder engagement.
In 2021, sustainability advisory committees were created at Halco and CBG levels, strengthening our oversight and providing support to CBG for the improvement of its social and environmental practices, including their response to a complaint made to the International Finance Corporation (IFC)’s Office of the Compliance Advisor Ombudsman (CAO).
The mediation process facilitated by the CAO reached an important milestone in 2021 with an agreement to adjust the mitigation measures related to blasting. Halco continues to participate in the mediation process as an observer, alongside the IFC.