Alcoa will continue focus on third-party bauxite sales, ceo says

Alcoa’s push into third-party sales of bauxite is something the company will continue to focus on in the future as it taps into the changing dynamics of Chinese ore sourcing, according to the company’s ceo.

A series of incidents including a ban on bauxite exports from Indonesia and mining in Malaysia has meant that China has turned to alternatives such as Guinea, Brazil and western Australia, Klaus Kleinfeld said. 
“[China] has been pretty substantially surprised by some of their major bauxite resources being shut,” he said in a conference call on the company’s second-quarter results.

China imported around 80% of its bauxite needs from Indonesia in 2011, though this level slumped when Indonesia changed its mining laws...


Andrea Hotter

July 12, 2016

17:23 GMT

New York