The last week saw some of the leading companies announcing new agreement for bauxite supply and submitting the ‘Environmental and Social Impact Assessment’. Let’s explore the top stories covering the downstream products vertical for the week that went by:
Metro Mining Limited has signed two new Binding Offtake Agreements with China’s Xinfa Group for a total 7 million dry metric tonne (DMT) of bauxite, aligning with Metro’s Stage 2 expansion plans.The new deal is likelyt to start next year.
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“Xinfa was Metro’s foundation customer so these latest Agreements are testimony to the extremely strong personal and business partnership that exists between Xinfa and Metro.
Canyon Resources Limited moves ahead with another milestone development for their Minim Martap Bauxite Project in Cameroon by submitting the ‘Environmental and Social Impact Assessment’ (ESIA) on 1st June 2021 to the Ministry of Mines, Industry and Technological Development (MINMIDT).
On June 9, 2021, Bauxite (6.5≤Al/Si＜7.5) price in Guangxi, China recorded a rise of RMB 15 per tonne after remaining restrained for over a year, found the Shanghai Metals Market. The price has rebounded to RMB 280 per tonne since its last plunge to RMB 265 per tonne on May 26, 2020. The average prices are expected to range between RMB 260-300 per tonne.
Compagnie des Bauxites de Guinée (CBG), the world’s leading company in the bauxite sector, has joined Aluminium Stewardship Initiative as a new Production and Transformation member, bringing the total number of ASI members to 174.
To know more: https://www.alcircle.com/news/compagnie-des-bauxites-de-guinee-joins-asi-as-174th-production-transformation-member-67532
The Covid-19 third wave has slow down the economic recovery of Germany at the beginning of 2021. The economy shrank 1.7% in the first quarter compared to the previous three months, according to official data. On the other way, the bauxite importation of the country has revealed better growth from the previous years.
To know more: https://www.alcircle.com/news/germanys-bauxite-importation-reflects-a-gradual-rise-during-2018-20-66507
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