Asian Metal visits Kang Da Resources and Malaysia Mining Club

On the morning of September 18, 2015, Mr. Friday Gao, Base Metals Department Manager of Asian Metal visited Kang Da Resources Sdn Bhd. and shared ideas on the bauxite market with Mr. Eric Tang Man Shing, Vice President of the company. Kang Da Resources started the investment and trading businesses in bauxite industry in early 2015. Mr. Tang indicated that the current price of low-grade bauxite is about USD29-29.5/t FOB Malaysia.

On the afternoon of September 18, 2015, Mr. Friday Gao, met with Mr. Ruban Rajalingam, Secretary of Malaysia Mining Club. Mr. Ruban revealed that the proven reserves of bauxite in Malaysia are about 25-30 million tons which will be able to meet the market demand in 2-3 years. In addition, many mining areas have not been explored, as a result, it is expected the reserves will be consumed for 5-8 years. He also confirmed that Malaysia has 13 mining licenses at the moment and thought enjoying a large cost advantage, the Malasian bauxite market will not be influenced by the markets in the Republic of Guinea and Indonesia.