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TOKYO (AFX) - General trader Mitsubishi Corp has obtained exclusive rights to explore for bauxite, the ore used to produce aluminum, in two areas of Guinea from the government of the West African country, the online edition of the Nihon Keizai Shimbun reported Sunday, citing sources close to the deal. The mining concessions mark the first entry of the firm into the business of developing bauxite mines. The company is already the biggest aluminum producer among Japan's trading firms, operating refineries in Australia and elsewhere. Mitsubishi will soon begin exploring for bauxite deposits in Guinea, investing a few hundred million yen in the project over a three-year period, the report said. Bauxite ore is processed to create alumina, also called aluminum oxide, an intermediate material that is refined to make aluminum. Based on the results of the exploration, Mitsubishi will consider building a plant to produce alumina, with Guinea seen as the likeliest site. Plant construction will likely cost at least 1 bln usd, the business daily said. Mitsubishi will supply the alumina turned out by the plant to refineries it operates in Australia and Mozambique as well as other major aluminum producers. The company thinks the concessions in Guinea have enough bauxite to enable a refinery to use 1.4 mln tons of alumina annually for several decades, the report said.