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19 SEPTEMBER 2018 AL CIRCLE

Solomon Islands’ bauxite export dropped 16% from last quarter in Q2 2018

EDITED BY : HEENA IQBAL 2MINS READ

According to the international export-import statistics, bauxite export from Solomon Islands is estimated to stand at 1.9 million tonnes in 2018, up 19 per cent YoY. The country has a great potential of bauxite. China is the largest bauxite market for the country.

On a quarterly basis, Solomon Islands exported an estimated 383381 tonnes of bauxite in the first quarter of 2018. In the second quarter, the country exported 446473 tonnes, an increase of 63091 tonnes of bauxite.

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 The country is estimated to witness quarter on quarter increase in export of bauxite. The total bauxite export is expected to reach 509565 tonnes and 572656 tonnes in the second third and fourth quarter of 2018 respectively.

According to recent estimates, the total export revenue from the export stood at USD 8605 in the first quarter of 2018; in second quarter, the export value stood at USD 9696. In third and fourth quarter, the revenue is estimated to reach USD 10788 and USD 11879 respectively.

Pacific Bauxite Limited had already identified three high-grade bauxite targets at its South West New Georgia Bauxite Project in the Western province of the Solomon Islands.In July 2018, Pacific Bauxite Limited, through its 50 per cent owned joint venture company, Eight South Investments Pty Ltd (JVC) had filed its legal claim in the High Court of Solomon Islands with respect to the purported cancelation of the Nendo Bauxite Project prospecting license PL 01/16.


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EDITED BY : HEENA IQBAL 2MINS READ

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