China Power Investment, Guizhou Govt Ink Bauxite Deal -Xinhua

BEIJING, June 3 -- Guizhou Province and the state-owned China Power Investment Corp., one of the country's five main power generators, have signed an agreement to explore bauxite reserves in four geographic areas of the province, the local branch of state-run Xinhua news agency reported Thursday.

The agreement covers municipalities in the counties of Wuchuan, Zhengan and Daozhen, where bauxite reserves exceeding 250 million metric tons are said to have been found, the report said, citing provincial government sources.

The exploration project is expected to take three years to complete, and could yield 150 million tons of mined bauxite, it said.

Bauxite, a raw material used to make aluminum, is relatively scarce in China. Chinese aluminum refineries import half of their bauxite needs.