BEIJING -- Aluminum Corporation of China Limited (Chalco) said on its official website that its bauxite project broke ground in Boffa, Guinea, on Oct 28.
The mine - Chalco's first overseas bauxite project - holds 1.75 billion metric tons of bauxite, which is used to make aluminum and can be mined for 60 years. The project will see an annual bauxite output of 12 million tons in the first phase and become an important source of Chalco's overseas bauxite resources.
Huang Wei, the Chinese ambassador to Guinea, said the Boffa bauxite project is the best way to push forward outcomes achieved from the Forum on China-Africa Cooperation held in September. Huang also said he hopes that both sides can strengthen their win-win cooperation in the future.
On June 8, Chalco signed an agreement with the government of Guinea in Conakry, the nation's capital, to develop the Boffa bauxite project. In an agreement approved by the company's board meeting in May, up to $163.8 in project capital would be used in mining, port and lightering operations.
Founded in 2001, Chalco is a leading player in China's aluminum industry, and has the whole value chain for the exploration and mining of bauxite. Guinea is rich in mineral resources and has the world's largest reserves of bauxite. The mining industry serves as one of the backbones of Guinea's economic and social development. (Source: China Daily)
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