HANOI, Mar 03, 2012 (Dow Jones) -- Vietnam will auction its first alumina output from a plant that is scheduled to start commercial production from the second quarter, local media said Saturday, citing a government official.
Many buyers from Japan, China and the Middle East are interested in buying alumina from the Tan Rai plant, and Vietnam will sell the product to the buyer that offers the highest price, Deputy Minister of Industry and Trade Le Duong Quang was quoted as saying in the online newspaper Gafin.
The Tan Rai plant, developed by state-run Vietnam National Coal-Mineral Industries Holding Corp., known as Vinacomin, is expected to produce 300,000 tons of alumina this year. It is expected to produce 650,000 tons a year when operating at full capacity from 2014.
Media reports said last month Vinacomin was in talks with Aluminum Corp. of China Ltd. (ACH, K3HD.SG, 601600.SH, 2600.HK) and Marubeni Corp. (MARUY, 8002.TO) to sell alumina, the key raw material for the production of aluminum, to them.