SHANGHAI, Apr. 24 (SMM) – According to data from the Ministry of Land and Resources (MLR), China’s proven bauxite reserves grew 210 million mt to 4.08 billion mt in 2012, rising for three years in a row and at CAGR of 4.75%. Proven bauxite reserves across China totaled 3.55 billion mt in 2009.
Assuming 2 mt of bauxite per ton alumina produced, China’s industrial-grade alumina producers alone consumed 58 million mt of bauxite in 2012. As such, China’s bauxite prospecting outpaced domestic bauxite consumption. That being said, alumina producers using imported bauxite were excluded. China imported 39.61 million mt of bauxite last year, most of which was consumed by alumina producers in Shandong.
China’s bauxite prospecting has been picking up pace over the past three years. This is due to growing demand for domestic bauxite from rising alumina capacity in China and risks of raw material shortages from heavy reliance on imported bauxite.