SMM Alumina Index Shows 31.65 Yuan/Tonne Discount on September 28

On September 27, Xiangxin Technology announced that, in light of changing market conditions and adjustments to its overall operational layout, the company has decided to reduce the allocated proceeds for the "Changshu Power Battery Housing Production Base Construction Project"—one of the projects funded by its 2022 private placement of A-shares—by RMB 50 million. These funds will instead be reallocated to increase the investment in the "Yibin Power Battery Housing Production Base Expansion Project."

Recently, the Shandong Provincial Development and Reform Commission released the *Decision of the CPC Shandong Provincial Committee and the Shandong Provincial People's Government on Commending Advanced Collectives and Individuals in the Development of the Shandong Green, Low-Carbon, and High-Quality Development Pilot Zone*. Weiqiao Pioneering Group was honored with the title of "Advanced Collective" in this initiative. Established by the provincial Party committee and government in support of the major national strategy to build the country's first pilot zone for green, low-carbon, and high-quality development, this award targets entities across all sectors of the province. Recipients were selected through a rigorous process involving tiered recommendations and competitive evaluation based on criteria such as strong political leadership, significant performance, outstanding reform and innovation, efficient coordination, solid resource support, and a clear commitment to green principles. The commendation aims to recognize entities that have demonstrated dedication and achieved remarkable results in driving the transition from old to new growth drivers, cultivating new quality productive forces, and advancing a comprehensive green transformation, thereby showcasing the province's achievements in this field.

US-based Strategic Bauxite Inc. is preparing to expand its refractory-grade bauxite operations in Guyana after acquiring Guyana-based First Bauxite LLC in July. The company’s plans were discussed during a recent meeting between US Ambassador to Guyana Nicole Theriot and Strategic Bauxite executives. The proposed investment is expected to expand mining and processing capacity in the country while strengthening the supply of refractory-grade bauxite. The expansion is backed by USD 85.5 million in US government equity funding through the Industrial Base Analysis and Sustainment (IBAS) programme, alongside USD 64.5 million in private-sector co-investment.