China Hongqiao Eyes African Bauxite as Indonesia Supplies Dry Up

Posted on May 15, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

China Hongqiao Group Ltd. (1378), the nation’s largest non-state aluminum producer, is in talks to buy a bauxite mine in Africa to secure raw material.

“We are looking to lock up resources in Africa and may make some concrete progress over the next six months,” Christine Wong, head of corporate finance, said in a phone interview from Hong Kong, without disclosing the target or the price. “We must take a controlling stake to make sure we have the offtake for more than 20 to 30 years.”