Tianshan Aluminium's 2023 annual report highlights substantial advancements in its bauxite projects, particularly in Indonesia and Guinea. The report outlines that the Indonesian bauxite project, which the company has invested in and acquired, is engaged in a detailed exploration of resource reserves.
It is on the verge of completing the prerequisites for equity delivery. Furthermore, Tianshan Aluminum intends to invest in constructing alumina projects with an annual capacity of 2 million tonnes in Indonesia.
The company, in its commitment to environmental responsibility, has initiated the Environmental Impact Assessment (EIA) approval procedures with relevant local authorities for the Indonesian project. Importantly, this project has secured inclusion in Indonesia's list of national strategic projects. With the feasibility study report completed, the project has progressed into the design stage, a testament to their dedication to sustainable and responsible business practices.
Moreover, to protect upstream bauxite resources and bolster cost competitiveness, Tianshan Aluminium has finalised the equity acquisition of a local mining company in Guinea. This acquisition has conferred upon the company the priority right to purchase mineral products, effectively securing the supply of bauxite resources and stabilising procurement costs.
The Guinea project commenced mining operations in 2024 and is slated to export the extracted bauxite back to China to fulfil the demand for domestic alumina production raw materials. With a planned annual capacity of 5-6 million tons of bauxite, this project is poised to substantially address the company's raw material requirements for alumina production, effectively achieving its targeted objectives.
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