26 NOVEMBER 2024AlCircle.com
Suriname bauxite project attracts Chinalco; Chinese miner agrees to pump in $426 million
Edited by : Debanjali Sengupta
2 min read
Aluminium Corporation of China Limited, popularly known as Chinalco, a state-owned multinational company, is likely to invest around $426 million in bauxite mining in Suriname, said the chairman of a Surinamese presidential mining commission on Monday, November 25.
If this investment is approved by parliament, Chinalco will begin bauxite mining by the middle of 2025 to produce 6 million tonnes of the key ore of aluminium annually, reported government advisor Daniel Lachman.
The Surinamese presidential mining commission also said that Suriname, the South American country, is likely to have a 13 per cent share in the project.
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