very interesting reading.. im sure the BAU delegates that visited the country recently are well on top of this situation.. i have it a suspicion that some of the talks held were a a very high level in China.
A reminder of the statement the company made about the China Visit..
"China Trip
Several board members and the Company’s Project and Infrastructure Manager will visit China in April to: • Follow up on various approaches made to BAU • Follow up on various approaches made to the West Australian State Government DOIR representatives in China relating to bauxite and alumina off‐take and investment. • Visit various refineries and smelters • Increase the Company’s knowledge and understanding of the expanding China bauxite and alumina market. • Consult with senior Beijing Government officials at NDRC in order to ascertain China’s attitude to Chinese corporate investment in Australian bauxite companies such as BAU • Meet with Chinese consultants as to the typical specifications of Chinese bauxite and the advantages of Darling Range bauxite
Substantial Bauxite Price Rise in first six weeks of 2008
As reported in Bloomberg 19 Feb 2008, “Bauxite prices have risen as much as 30% since January, twice as much as last year, on rising demand from China and dwindling exports from Indonesia, the Asian nation’s main supplier of the aluminium‐making material.”
Key here is that they planed to consult with Beijing Government Officials!!!
The truth is that in China... the securing of reliable tonnages of this material is a POLITICAL issue! it effects the development of China and as such is taken seriously by the govt there.
BAU Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
