10 SEPTEMBER 2015www.fijitimes.com
Global demand and recession affect Fiji bauxite exports
Edited by : AL CIRCLE
1 min read
Fiji has exported $48 million worth of bauxite so far from the shores of Bua in the Northern Division. But the drop in global demand has affected export and slowed work progress at the mines this year.
Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed although works continued, operations were not the same during peak period. He said the company had exported 1.2 million tonnes of bauxite since mining started in Bua.
"We may just have two shipments this year because of the global market situation. The global demand is less but work at the Dreketi mine is progressing," he said. On the number of bauxite shipments expected from Dreketi, Mr Qiu said, that was yet to be determined. He did not either elaborate on the tonnage of bauxite stockpiled at the mine site.
However, in July, he confirmed that 70,000 tonnes of bauxite valued at $1.4m were stockpiled at Nawailevu in Bua because of the decrease in market demand. If the situation continued, Mr Qiu said, 50 per cent of mining operations around the world would close down. He said the company had felt the effects of the global economic recession in the prices of bauxite and other ores.
Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed although works continued, operations were not the same during peak period. He said the company had exported 1.2 million tonnes of bauxite since mining started in Bua.
"We may just have two shipments this year because of the global market situation. The global demand is less but work at the Dreketi mine is progressing," he said. On the number of bauxite shipments expected from Dreketi, Mr Qiu said, that was yet to be determined. He did not either elaborate on the tonnage of bauxite stockpiled at the mine site.
However, in July, he confirmed that 70,000 tonnes of bauxite valued at $1.4m were stockpiled at Nawailevu in Bua because of the decrease in market demand. If the situation continued, Mr Qiu said, 50 per cent of mining operations around the world would close down. He said the company had felt the effects of the global economic recession in the prices of bauxite and other ores.
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