Global demand and recession affect Fiji bauxite exports

Fiji has exported $48 million worth of bauxite so far from the shores of Bua in the Northern Division. But the drop in global demand has affected export and slowed work progress at the mines this year.

Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed although works continued, operations were not the same during peak period. He said the company had exported 1.2 million tonnes of bauxite since mining started in Bua.

"We may just have two shipments this year because of the global market situation. The global demand is less but work at the Dreketi mine is progressing," he said. On the number of bauxite shipments expected from Dreketi, Mr Qiu said, that was yet to be determined. He did not either elaborate on the tonnage of bauxite stockpiled at the mine site.

However, in July, he confirmed that 70,000 tonnes of bauxite valued at $1.4m were stockpiled at Nawailevu in Bua because of the decrease in market demand. If the situation continued, Mr Qiu said, 50 per cent of mining operations around the world would close down. He said the company had felt the effects of the global economic recession in the prices of bauxite and other ores.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.