Chalco gets government backing for Australian bauxite...

Chalco gets government backing for Australian bauxite project
2007-8-8 13:36:23
BEIJING 8 Aug 07 - Aluminum Corp of China Ltd, China`s largest producer of the lightweight metal, was granted significant project status for its proposed A$3 billion (US$2.6 billion) bauxite mine and refinery in Australia.

Chalco, as the Chinese state-owned company is known, also formally registered an accord with native landowners for their development permission, said Peter Beattie, premier of Queensland state in northern Australia, in an e-mailed statement.

"The potential economic benefits include an increase in bauxite and alumina exports worth more than A$200 million per year,`` said Beattie in the statement.
Asianmetal(English) http://www.asianmetal.com XSPW
Companies from China are scouring the world for raw materials to feed rising demand for cars and appliances in the world`s fastest-growing economy. The project will enable Chalco to ship a quarter of the project`s bauxite ore to China each year, and produce 2.1 Mt of alumina.
Asianmetal(English) http://www.asianmetal.com 810R
Bauxite is refined into alumina, which is smelted to make aluminium, the metal used in cars, aircraft and construction.