Ashapura Minechem shares gained more than 2% on Wednesday after the company announced that its overseas subsidiary has signed a long-term strategic cooperation agreement with China Railway, a Global Fortune 500 company, to jointly develop the Boffa bauxite deposit in Guinea.
The agreement, executed on September 15, 2025, will see China Railway extend comprehensive support to Ashapura in mining operations, local logistics, port handling, and infrastructure development. Ashapura stated that the collaboration is expected to significantly enhance production capabilities, improve operational efficiency, and unlock greater value from the Guinea project.
Beyond mining operations, the partnership also aims to generate a positive economic impact in Guinea, supporting both industrial growth and community development. Ashapura and China Railway emphasized that the venture will prioritize sustainable development, environmental responsibility, and social welfare initiatives for local communities.
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