Glencore, the Swiss commodities group led by South African executive Gary Nagle, is looking beyond bauxite in Guinea after securing a more than $300 million financing and offtake agreement that could open the door to investments in alumina refining, energy and other strategic projects.

The Swiss commodities trader and miner last week signed the deal with state-owned Nimba Mining, giving Glencore a significant foothold in Guinea as the West African nation works to reduce its reliance on a narrow group of investors and export markets.

Under the five-year agreement, Glencore will market between 10 million and 12 million metric tons of bauxite annually, strengthening its position in one of the world’s most important suppliers of the aluminium feedstock.

Glencore partnership could expand beyond bauxite

Guinea Mines Minister Bouna Sylla said the agreement could become the foundation for a broader partnership as Conakry seeks more investment in domestic mineral processing.

Glencore has indicated strong interest in expanding its business in Guinea, Sylla said, with discussions covering potential investments in alumina refining, energy and other strategic sectors. Glencore declined to provide further comment.

For Guinea, attracting investment into refining would support a broader effort to capture more value from its mineral wealth instead of relying primarily on raw-material exports.

Guinea pushes to diversify beyond China

Guinea overtook Australia as the world’s largest bauxite producer in 2023, but China remains its dominant export market, receiving more than 70 percent of the country’s bauxite shipments.

Chinese-linked companies also hold a controlling interest in the giant Simandou iron ore project, which began exports in 2025.

Rio Tinto is the project’s other owner and held merger talks with Glencore earlier this year.

Sylla said the Glencore agreement, alongside Guinea’s recent settlement of a long-running dispute with Middle East aluminium and alumina producer Emirates Global Aluminium, reflects a wider strategy to diversify the country’s international partnerships.

China remains an important partner, he said, but Guinea is seeking stronger commercial ties with the Middle East and other regions as it expands its pool of investors and buyers.