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Guinea has signed a preliminary deal with Emirates Global Aluminium (EGA) to build the nation’s second alumina refinery.

Estimated at 4 billion U.S. dollars, the project aims to enhance Guinea’s value addition to its extensive bauxite resources.

According to Reuters, EGA, through its subsidiary Guinea Alumina Corporation (GAC), plans to complete the 2 million-ton capacity refinery by 2026, with an initial annual production of 1.2 million tons.

As Africa’s top bauxite producer, Guinea seeks to refine this ore into alumina, a more lucrative product, to stimulate economic growth. The new refinery will complement the existing Friguia refinery, owned by Russia’s Rusal, and aligning with Guinea’s strategy to encourage mining firms to invest in local processing.