What are the major development milestones in the development of the refinery?
A. Because Guinean bauxite is so abundant, high-grade and exists virtually on the surface, Global Alumina does not consider exploration or exploitation of the bauxite ore among its major development milestones. Fundamentally, there are five major pre-construction milestones: (1) concession award; (2) environmental and social approvals to construct and operate; (3) feasibility analysis; (4) finalize construction arrangements and (5) financing; that lead to project construction and then initial alumina production and export. Global Alumina quite successfully brought its first project through most of the pre-construction milestones. The “concession” in our case encompasses the exclusive right to mine substantial bauxite reserves and to build and operate its new refinery, and also priority access to limited capacity rail and port infrastructure and attractive fiscal incentives. All major government approvals have been granted, and Global Alumina determined feasibility and commenced arrangi
