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10 JUNE 2020 AL CIRCLE

Chalco receives licence for new bonded bauxite warehouse in southern China’s Guangxi region

EDITED BY : HEENA IQBAL 1MINS READ

According to a Reuters report, Aluminum Corp of China Ltd , also known as Chalco, has received a license for its 100,000-square-metre bonded bauxite warehouse in Guangxi region in southern China. The warehouse, which has a storage capacity of 1.02 million tonnes of bauxite, will store bauxite imported from Africa.

bauxite

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According to a report from China Nonferrous Metal Industry Association, the facility will also serve the company’s Guangxi Huasheng alumina refinery.

A bonded warehouse is a storage facility for dutiable imported goods that have not yet cleared customs.  These goods can be shipped to other countries.

The company has the Boffa bauxite mine in Guinea with production capacity of 12 million tonnes per year of ore. Chalco also plans to put into operation Guangxi Huasheng’s first phase of 2 million tonnes per year in June.

aluminium

“When the domestic market or Chalco itself does not need the bauxite ... (Chalco) may try to export to some other countries,” CRU analyst Wan Ling said.


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EDITED BY : HEENA IQBAL 1MINS READ

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