China`s 1st overseas alumina oxide project starts operation
Source: www.chinamining.org Citation: CRIENGLISH.com Date: May 23, 2016
A Chinese-invested smeltery was officially put into production on Saturday in Indonesia.
The smeltery, invested by China Hongqiao Group Limited and Winning Investment (HK) Company Limited, is the first giant aluminum oxide project that Chinese companies have invested in overseas.
The two Chinese companies jointly signed the cooperation agreements with Indonesia-based PT Cita Mineral Investindo Tbk on the aluminum oxide project and supporting facilities on Oct. 3, 2013, when Chinese President Xi Jinping paid a state visit to Indonesia.
The production line is part of the 2 million-tonne-a-year smelting plant with a total investment of 1 to 1.5 billion U.S. dollars which is operated by PT Well Harvest Winning Alumina Refinery, a joint venture which Hongqiao holds a 56 percent stake.
The factory, integrated with a self-produced power plant and seaport in West Kalimantan Province`s Ketapang Regency, processes local bauxite into alumina, a material for production of aluminium.
Indonesia, the world`s main nickel ore exporter and supplier of bauxite, banned raw ore export in early 2014 to encourage the building of smelters and shift exports from raw materials to higher-value products.
Hong Kong listed Hongqiao aims to produce 6 million tonnes of aluminium by the end of 2016, from 5.19 million tonnes last year. Hongqiao enjoys a much lower production costs than its rivals as it has its own power plants, in-house upstream materials and other production facilities.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22nd -25th, 2016. We invite you to join the event and to celebrate the 18th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: m.balanzskin.com.
