Wealth Well Resources, Malaysia, will commence exporting bauxite in March 2021, with a monthly production capacity of 100,000 mt, according to a report published by Chinese media. Since early-Dec, alumina plants in the north of Malaysia had reduced production due to shrinking demand for bauxite.
The sources reported that the company is planning to begin production in February. Initially, the company aims to produce 100,000mt and export 60,000mt. The reserves have around 3mn mt bauxite.
The bauxite reserves are in Johor, Malaysia, while the nearest port is 40kms away. Wealth Well Resources plans to produce 1mn mt in 2021.
The report mentioned that the current CIF price of China’s imported bauxite Al2O3 48pc min ReSiO 2 3.5pc max is US$48-49/dmt.