29 JUNE 2011www.businessspectator.com.au
Chalco, Aurukun bauxite deal falls through: report
Edited by : AL CIRCLE
1 min read
Negotiations between the Queensland government and Chinese aluminium giant Chalco over a $2.3 billion alumina refinery in the north of the state have broken down, with the Aurukun bauxite leases now set to be put up for sale later this year, according to The Australian Financial Review.
According to the newspaper, a refinery is not expected to be a condition of the new tender, but the state government would prefer a "value-add position" rather than a straight sale.
Building the refinery, or funding an appropriate alternative, was part of a deal the Chalco signed with the Beatie government in 2007.
Queensland Premier Anna Bligh told the company of her government's decision last week while on a trip to China, according to the AFR.
Bauxite is the main component of aluminium.
According to the newspaper, a refinery is not expected to be a condition of the new tender, but the state government would prefer a "value-add position" rather than a straight sale.
Building the refinery, or funding an appropriate alternative, was part of a deal the Chalco signed with the Beatie government in 2007.
Queensland Premier Anna Bligh told the company of her government's decision last week while on a trip to China, according to the AFR.
Bauxite is the main component of aluminium.
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