Chinese state-owned enterprise Aluminum Corporation of China Ltd (Chalco) is set to receive its first shipment of bauxite from its new mine in Africa. The first bauxite shipment is a major landmark for the centrally administered company as it is the culmination of its years-long effort to ensure the country's continued supply of raw materials.
Chalco began construction of the bauxite mining project in Boffa, Guinea back in 2018. The project was part of a collaboration between China and the government of Guinea. It was the first large-scale overseas mining project by Chalco and the fruits of its labor are about to pay off with the arrival of the first shipment.
The first shipment of bauxite is now on transit aboard a large ocean-going vessel, which had already departed from a major port in Guniea. The ship is set to arrive at the Fangchenggang port in the Guangxi Zhuang autonomous region.
According to Chalco, the construction of the bauxite mining facility was completed two months ahead of schedule. The project, which is aimed at increasing China's raw material self-sufficiency, also offers a massive boost to Guniea's economy. Chalco claims that the collaboration between the two countries does provide a win-win result for both sides.
Chalco is currently China's largest state-owned company in the nonferrous metals industry. Apart from refining bauxite to produce aluminum, Chalco also engages in the sales, research, and development of aluminum alloy products. Chalco also deals with the provision of logistics and trade solutions in the energy sector.
Through its mining operations in Boffa in Guinea, Chalco is hoping to increase China's self-sufficiency for bauxite by up to 75 percent by the end of 2021. With the new mine, China can reduce its importation of bauxite from other countries. Industry experts estimate that at full production, the mine in Boffa could increase Chalco's bauxite output by more than 80 percent. The mine, which has an expected life span of around 60 years, is expected to produce more than 12 million tons of bauxite per year.
High-grade aluminum alloy is a vital raw material for advanced technologies in various industries. With the increase in supply, China can move forward with the construction of advanced systems and infrastructure, such as new energy vehicles, 5G base stations, high-speed intercity trains, and other high-end aluminum products.
The former deputy head of the National Development and Reform Commission, Xu Xianping, estimates that China's increasing investment in "new infrastructures" could reach more than 17.5 trillion yuan or $2.47 trillion over the next five years.
