Global Alumina Corporation announced that the JV board of directors approved additional Project funding of USD 4.6 million for the period December 1st 2011 through December 31st 2011.

Global Alumina will be responsible for its one third share of this amount. The JV board had previously approved cumulative Project funding from inception through November 2011 of USD 777.1 million of which USD 769.2 million was incurred or prepaid through October 2011 and USD 762.4 million has been funded to date.

Global Alumina has approximately USD 22.8 million in cash, USD 16.6 million of which is in escrow available for Project development and USD 6.2 million of which is unrestricted and available for general corporate purposes. The Company also has USD 33.3 million subscription receivable due to the Company on the completion of the Project debt financing.

Global Alumina is in JV through its wholly owned subsidiary, Global Alumina International Limited with BHP Billiton, Dubai Aluminum Company Limited and Mubadala Development Company PJSC to develop 3.6 million tonnes per annum steady state capacity alumina refinery in the bauxite rich region of the Republic of Guinea. Global Alumina has offices in New York London and Montreal.