Laman Mining invites partners for alumina refinery investment
2024-04-02 08:23:37 [Print]
BEIJING (Asian Metal) 2 Apr 24 - PT Laman Mining, a major bauxite producer in Indonesia, would like to find a partner to build an alumina refinery with the planned production capacity of 2 million tonnes per year, a source from the company reported to Asian Metal.
"We are looking for a partner to build an alumina refinery and the annual production capacity could reach 2 million tonnes," said the source, adding that the refinery will be located in West Kalimantan with the investment budget around USD1.5 billion.
Based on the annual production capacity of 3.6 million tonnes, they produced around 1 million tonnes of bauxite in 2023 and target the same volume in 2024, with present stocks around 200,000t. Their former mining license expired late last year and would renew in April.
Present mainstream prices for alumina 98.5%min keep at USD370-375/t FOB Indonesia, the same as late last week. Due to the reduced alumina price in China, the purchase demand for imported alumina turns weak now.
"We are looking for a partner to build an alumina refinery and the annual production capacity could reach 2 million tonnes," said the source, adding that the refinery will be located in West Kalimantan with the investment budget around USD1.5 billion.
Based on the annual production capacity of 3.6 million tonnes, they produced around 1 million tonnes of bauxite in 2023 and target the same volume in 2024, with present stocks around 200,000t. Their former mining license expired late last year and would renew in April.
Present mainstream prices for alumina 98.5%min keep at USD370-375/t FOB Indonesia, the same as late last week. Due to the reduced alumina price in China, the purchase demand for imported alumina turns weak now.
