Global Alumina announced today that its board of directors will meet this week to approve its joint venture with BHP Billiton, Dubai Aluminum, and Mubadala Development. The joint venture will be responsible for the alumina refinery project in Guinea. After the approval of the board of directors, the four parties will sign a joint venture agreement. In accordance with the $100 million loan agreement, the joint venture party has agreed to extend the period of consultation from March 17, 2007 to March 24, 2007. Up to now, the company has absorbed USD 48,699,681 in accordance with the loan agreement. Prior to the signing of the joint venture agreement, the available funds were limited to 50 million U.S. dollars. On November 5, 2006, Sifang announced the implementation of the loan agreement and joint venture negotiation. According to the loan agreement, the postponement of the four-party consultation was extended to November 30, 2006, December 29, 2006, January 12, 2007, February 16, 2007 and March 5, 2007 and March 12, 2007 respectively. .