Yankuang Group Obtained Bauxite Mining Right

(China Aluminum Network) Recently, the GM of Shandong Yankuang Group attended ALUMINUM CHINA 2012 which was held in Shanghai said that through acquisition and investment of 90% shares in Western Australia they’ve purchased the bauxite mining right of two companies. This bauxite occupied about 24,000sq.km. ore grade was about 40%-50%, bauxite content was expected to near 1 billion tons.

The approved 50,000 thousand tons of aluminium ore were met Australian Standard, nearly 0.18 billion tons still will be approved at the end of this year and will built an alumina base at local place according to the plan.

This was the biggest overseas bauxite exploration project has won the support from Ministry of Land and Resources and Ministry of Finance of the People’s Republic of China, as well as 52,900 thousand yuan government subsidy.

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