`Berserk' Aluminum Boom Signals Ore Bonanza for China's Quarry
- Rio's $1.9 billion bauxite development set to be litmus test
- Chinalco says looking at projects, including in Australia
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Key aluminum ingredient bauxite is shaping up as China’s newest obsession in its mission to secure raw materials and once again minerals-rich Australia is a major target.
China’s investment in Australia’s mining industry plunged along with the global commodities rout, dropping in 2015 to the lowest since 2008 as surging supplies created gluts of materials including oil and iron ore. It’s a different story unfolding for bauxite, with a potential step up in interest led by Aluminum Corp. of China, known as Chinalco, which confirmed it’s looking at investing in projects in Australia.