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[May 2005]
Global Alumina Announces Second Long-Term Off-Take MOU
Global Alumina Corp (Toronto, ON , Canada) - a company that proposes to produce alumina for sale to the global aluminium industry - has announced that it has entered into its second off-take Memorandum of Understanding (MOU) with China Aluminium Group Ltd (CAG). The MOU also incorporates a provision whereby CAG would make an investment in Global Alumina.
This MOU and a previous one with Dubai Aluminium Co Ltd would ensure long-term purchase and sale of 50% of the annual production from Global Alumina's proposed refinery as well as substantial equity investments in Global Alumina.
Under the terms of Global Alumina/CAG MOU, CAG will enter into a long-term purchase and sale agreement with Guinea Alumina Corporation SA, a wholly owned subsidiary of Global Alumina, for 25% of the annual production from the company's proposed refinery. CAG will also acquire an interest in Global Alumina's common stock.
www.globalalumina.com
ENDS