State-owned Emirates Global Aluminium (EGA) expects to complete a feasibility study for its bauxite mine and alumina refinery project in Guinea by the first quarter of next year, its chief executive said.

"We are already in, we just need (to know) how much we are going to budget, how much it is going to cost us," Abdulla Kalban said on the sidelines of an aluminium conference.

Kalban told the conference the project will have two phases.

"We are already in feasibility study number three and (it) will be completed by the first quarter of 2016," he told the conference.

Phase 1 of the project is the mining of 8 to 12 million tonnes of bauxite for export and for Phase 2, "we are talking about a 2 million-tonne alumina refinery," he said.

In 2013 the state owners of EGA signed a $5 billion agreement with Guinea to develop the mine and refinery in the West African country to secure raw material for United Arab Emirates' aluminium plants.

EGA, created by the merger of two state-owned aluminium companies Dubai Aluminium (Dubal) and Abu Dhabi's Emirates Aluminium (Emal), is jointly owned by Abu Dhabi investment fund Mubadala Devewlopment Co and the state company which holds Dubai's most high-profile assets, Investment Corporation of Dubai (ICD).

EGA produces 2.4 million tonnes of aluminium a year, making it among the five largest primary aluminium producers in the world. - Reuters