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 environmental protection, community issues and human rights. We are aware of the concerns regarding resettlement and the pace at which livelihoods are being restored, and around access to land and access to water.
We have a part to play as shareholders and have increased our support to CBG by providing additional expert help in the areas of communities and social performance, as well as health, safety and environment. We recognise that more work is required and are encouraging CBG to work towards a constructive outcome of the mediation currently facilitated by the IFC’s Compliance Advisory Ombudsman, aligned with international standards.