Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
04 JUNE 2014 AL CIRCLE

China Hongqiao will buy African Bauxite Company for about $120 million

1MINS READ
China Hongqiao Group Ltd, the largest non-state producer of aluminium of the nation, has agreed to buy an African company developing bauxite deposits for approximately $120 million. Winning Logistics (Africa) Co. and Hongqiao signed an agreement to buy a not so popular company developing a mine in Guinea, said Shandong-based Hongqiao. The target company is capable of developing and producing bauxite for 25 years from their deposit with a total resource of 2.2 bn metric tons.

The proposed acquisition took place as Hongqiao was looking for bauxite supplies after the Indonesian mineral export ban. Hongqiao is one of China’s lowest-cost smelters and is putting more effort to increase output after competitors including Aluminum Corp. of China Ltd. have cut down their production. The company also plans to boost the production of aluminium by 30% to about 3 million tons this year. Hongqiao will hold about 90% of the shares of target company and rest 10% will be owned by Winning after the deal gets over.


Adv
Adv
Adv
Adv
Adv
Adv
Adv
1MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.