As per the reports, the Western Australian government has agreed to allow Alcoa World Alumina and Chemicals (AWAC) to continue bauxite mining and downstream alumina refining in the state. The Western Australian government has declared that it would accept the newest five-year mining plan (also known as the 2023-2027 Mining and Management Plan (MMP)) created by AWAC for the Huntly and Willowdale bauxite mines as of the date of this statement.
CITIC Resources has disclosed that it currently possesses a 9.6117 per cent ownership interest in Alumina Limited (AWC), an Australian company listed on the Australian Stock Exchange. Additionally, CITIC Resources holds an equity stake in the worldwide asset portfolio of upstream mining and smelting within the aluminium industry.
Consequently, via AWC, the company has a 40 per cent ownership share in the joint venture of Alcoa World Alumina and Chemicals (AWAC), an alumina producer. The firm is involved in worldwide bauxite mining, alumina refining, and specific aluminium smelting activities.
Furthermore, the Western Australian government has given exemptions to enable AWAC to continue mining activities if the Western Australian Environmental Protection Agency (EPA) chooses to perform an independent environmental impact review of the MMP in whole or in part. The EPA is scheduled to decide before the end of the fiscal year on December 31, 2023.
In this context, AWAC must satisfy many environmental requirements, such as conserving drinking water and biodiversity and speeding up forest restoration. Based on the above, the Western Australian government's permissions and exemptions would benefit AWAC's present mining activities and the group's strategic investments in AWC's properties.
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