Indonesia TBJ is a large local bauxite producer and plans to start developing a new bauxite mining area at the end of this month, with estimated reserves of 10 million tons, a source in the company disclosed."We plan to start developing a new bauxite mining area at the end of this month, with reserves estimated to be around 10 million tons," the source said. The new mining area will supply bauxite Al2O3 47%min ReSiO2 6%max, which is better than the current bauxite Al2O3 46%min. The annual production capacity of bauxite in the new mining area is 2.4 million tons, and it is expected to start production at the end of the month. The target output next month is about 200,000 tons.The annual production capacity of the old mining area was 2 million tons, which was put into operation at the end of last year. The total output this year is about 300,000 tons, and the current inventory is about 150,000 tons. They suspended production in early July due to the expiration of the export quota of about 2 million tons of bauxite. In mid-December, the company is expected to receive a new export quota of 2.2 million tons of bauxite.At present, the CIF price of Al2O3 47%min ReSiO2 5%max in Indonesia is US$43.5-44.5/dry ton, which is the same as last week. The price will remain firm in the next two weeks because of the high freight rate of US$9-10/ton.
Post time: Dec-04-2020