:: Deal Signed for $2bn Guinea Alumina Refinery

Guinea and Global Alumina have signed an investment and concession agreement for the construction of a 2.8-million-ton alumina refinery, the company said this week.

The agreement stipulates an initial term of 99 years for the management and operation of the refinery, in the north of the bauxite-rich West African country, Global Alumina - also known as Gapco - said in a statement.

The price of alumina has surged since the end of 2002 and Global Alumina is one of several firms aiming to build alumina plants in Guinea, which the company says has 7,4-billion tons of economically recoverable bauxite.