GLOBAL ALUMINA CORPORATION GBAMF

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https://stockhouse.com/news/news.asp?tick=GLA.U&newsid=3438035 GLOBAL ALUMINA CORPORATION Quick Quote: GLA.US (no quote) Global Alumina and United States' African Development Foundation partner to increase community and enterprise development in the Republic of Guinea 2/15/06 TORONTO, Feb. 15, 2006 (Canada NewsWire via COMTEX) -- Global Alumina Corporation (TSX: GLA.U) and the African Development Foundation (ADF), a public corporation of the Government of the United States of America, have entered into a five-year, strategic partnership to maximize the social and economic benefits of Global Alumina's proposed 2.8 million tonne per annum alumina refinery project in Guinea. The objective of the partnership between Global Alumina and the ADF is to promote community development by stimulating the creation, growth and expansion of small and medium-sized indigenous enterprises in Guinea. Global Alumina and the ADF have agreed to contribute up to US$5 million each to fund approved initiatives over the course of the five-year program. "We are committed to assisting the Republic of Guinea in its efforts to improve its citizens' quality of life by unlocking the country's most abundant and valuable natural resource," said Bruce Wrobel, Chairman and CEO of Global Alumina. "By collaborating with the ADF, who have been working in Guinea for the past 10 years and are deeply engaged in local communities throughout the country, we are ensuring that those Guineans directly impacted by our project, as well as those in the surrounding areas, are able to enhance the development of their communities and grow sustainable enterprises." Recognized as a leader in the development field for its collaborative and consultative approach to community development, the African Development Foundation has provided funds in the form of development grants and/or community reinvestment grants from its Conakry office for over a decade. The Foundation will manage and provide Global Alumina with technical assistance in a variety of areas for the creation of sustainable small and medium-sized enterprise development entities. "The partnership between Global Alumina and the ADF will become a global case study demonstrating how companies should proceed with investments in Africa. Through our partnership, the impact of the development and operation of Global Alumina's alumina refinery will be felt far beyond the refinery site and into communities and cities throughout the Republic of Guinea," stated Nathaniel Fields, Vice President and CEO for Africa Operations, African Development Foundation. "Global Alumina should be congratulated for understanding that the best interests of shareholders can be served by ensuring that their project leads to an improved quality of life for all Guineans." Global Alumina and the ADF expect to complete a program implementation document during the first quarter of 2006 that outlines the specific programs the partnership will be executing and the opportunities for Guineans to participate in the programs. ABOUT AFRICAN DEVELOPMENT FOUNDATION The African Development Foundation (ADF) is a United States Government agency dedicated to expanding access to economic opportunities in Africa. Over the past 20 years, ADF has funded 1,600 projects in support of African entrepreneurs and local African communities. For more information on ADF, its programs and its application guidelines, go to: www.adf.gov/funding.html. ABOUT GLOBAL ALUMINA Global Alumina Corporation is a company that intends to use the vast bauxite resources of Guinea to produce alumina for sale to the global aluminium industry. Global Alumina is positioned to be one of the largest companies focused solely on alumina production and sales, and offers an opportunity for socially responsible investing in a country that holds over one-third of the world's bauxite resources. Global Alumina is headquartered in Saint John, New Brunswick with operations in Boké, Guinea and has administrative offices in New York, London, Montreal and Conakry, Guinea. For further information visit our website at www.globalalumina.com. This press release includes certain "forward-looking statements". All statements, other than statements of historical fact, included herein, including without limitation statements regarding future plans, goals and objectives of Global Alumina, are forward-looking statements that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned to not place undue reliance upon the forward-looking statements included herein. SOURCE: Global Alumina Corporation Michael Cella, Global Alumina, P: [phone], [e-mail]; Joshua Orzech, GCI Group, P: [phone], [e-mail] Copyright (C) 2006 CNW Group. All rights reserved.