Alum Acquires Bauxite Extraction Operations in Sierra Leone

Thursday, 05/05/2011 - 09:42

Tulcea, May 5, 2011 – Alum SA (BVB: BBGA), the alumina refinery in Tulcea, announces the acquisition of 100% of the capital of Global Aluminium Limited ("GAL"), which owns the company specialized in bauxite extraction operations in Sierra Leone, from the majority shareholder of the group, Vimetco NV, for a sum of $30 million. The shareholders of Alum approved this decision at the general meeting held on April 27, 2011.

This decision aligns the legal structure of the group with the vertically integrated operational structure of Vimetco's activities in Romania. Additionally, to finance the acquisition, Alum S.A. signed a loan of $25 million with Raiffeisen Bank S.A. Romania, secured by some of its assets.

For more information, please contact:

Florența Ghiță
Premium Communication
Bucharest
Phone: +40 (0)21 411 01 52
Email: florenta.ghita@premiumpr.ro

About Alum
Alum is an alumina refinery with a production capacity of 600,000 tons per year. The alumina produced by the company is supplied to the domestic market for Alro SA, part of the Vimetco Group, as well as for export. The shares of Alum have been listed on the Bucharest Stock Exchange since 1996.

About Global Aluminium Limited
Global Aluminium Limited controls Sierra Minerals, a company specializing in bauxite extraction operations, which has been part of the international industrial group Vimetco N.V. since July 2008. Sierra Minerals is the only bauxite mine in Sierra Leone and the second-largest employer in the mining sector in the country. The mine has a resource base of approximately 31 million tons of bauxite and produces about 1.2 million tons annually for export.