Aluminium didn't get shine during the mining boom. Market factors conspired to send it the the dog house where it has stayed for a number of years. Austerity has been the name of the game for all those involved in the Aluminium supply chain (I can say this from experience!). However we could just be seeing the start of a roll over from an over supplied market to undersupply.
Have Canyon pulled a master stroke by positioning themselves into bauxite at the right time and price to yield maximum benefit from the inevitable uplift in prices? There is a possibility that Canyon just could be sitting on 150Mt or more close enough to infrastructure to allow shipping at a reasonable cost.
Even if valued at $1/t in the ground the maths work out pretty nicely.
China needs bauxite to feed its refineries.... thats a fact!
Aluminium didn't get shine during the mining boom. Market...
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