Ashapura Minechem receives record bauxite and iron ore orders from Chinese companies

On September 18, 2023, Ashapura Minechem announced that the company had secured considerable supply orders for bauxite and iron ore to Chinese companies.

Ashapura Minechem is a company that operates within the industrial mineral sector, focusing on exploring and refining minerals like bauxite, bentonite and kaolin. Its primary mission is to serve a diverse range of industries, including but not limited to oil and gas, foundry, and construction, by providing high-quality mineral products.

During a regulatory filing at the exchanges, the company stated, “Ashapura Holdings (UAE) FZE, a step-down subsidiary of the company, has concluded and signed two contracts for the supply of 24 million tonnes of bauxite from Guinea to a subsidiary of the Chinese aluminium major, State Power Investment Corporation. While the first contract entails a three million tonne per annum supply agreement for three years, the second contract entails three million tonnes per annum supply agreement for five years.”

“Ashapura Guinea Resources SARL, another step-down subsidiary of the company, signed the contract to supply iron ore. The iron ore mined from Guinea will be supplied to Tai He Mining. The contract entails a supply agreement of 10 million tonnes of iron ore, of which 2 million tonnes per annum of iron ore will be supplied for five years.”