SMM News: according to a report by the Swiss media "Agence Ecofin" on May 7, according to the research and analysis report of Fitch think tank (Fitch Solutions), in the future, the increase in bauxite supply in the world will mainly come from Guinea, Australia, Indonesia and other four countries. Guinea's production will rise from 59 million tons in 2018 to 82.3 million tons in 2028.
Global bauxite production fell in 2018. Looking ahead to future market supply, Fitch think-tank (Fitch Solutions) believes that the increase in global bauxite supply in 2019 will mainly come from new projects in Guinea and Australia, as well as production growth in India and Indonesia.
According to the Fitch think-tank database, 12 of the 29 new bauxite projects are from Australia.
Fitch expects Australian bauxite production to grow by 15 per cent in 2019, up from 4 per cent in 2018. According to Fitch, although bauxite mining accounts for less than 5 per cent of Australia's total mining output, Australia is one of the world's largest bauxite producers, accounting for 28.8 per cent of global bauxite production in 2018. The rebound in Indonesian production has led to a decline in the Australian market, but Australia remains one of China's largest sources of bauxite imports.
Indonesia imposed a ban on ore exports in 2014, but lifted it in 2016 and bauxite production began to recover. Thanks to geographical proximity to Australia or Guinea, Indonesian exports to China will pick up.
Guinea has the second largest number of new bauxite projects, with production rising from 59 million tons in 2018 to 82.3 million tons in 2028.
Guinea ranked third in the world in bauxite production in 2018, behind Australia and China, according to the World Bank.