Global Bauxite Production Growing
A news from the Fitch Solution Company have been released from the view of macro research that global bauxite are growing. In the latest version of the document, the company said that as new projects are launched in Australia, Indonesia expands exports, India's production increases and existing projects in Guinea drive growth, bauxite production growth will remain high in the coming years.
According to Fitch, Australia as the world’s top producer of the orange metal, will maintain steady output growth driven by steady activity at the about 40 projects it hosts.
Fitch said that another major driver of the decline in growth momentum is the urquhtel bauxite project to be put into use in North Queensland.
Fitch believes that Indonesia's prospects are brighter and the result of the government's decision( allow PT Dinamika Sejahtera Mandiri to export 2.4 million tons of bauxite in 2017. The export quota of 2.9 million pounds to PT Laman Mining also contributed to last year's production results.
In India, not exports but the domestic market is the one pushing for increased bauxite production, which is expected to grow from 30.9mnt in 2018 to 50.7mnt by 2027.
When it comes to Guinea, a country that holds the second largest amount of new bauxite projects behind Australia, Fitch believes that output will climb from 53.3mnt in 2018 to 78.2mnt by 2027.
That's macro circumstance, which will be drive the development of mining rotation equipment(Slurry Pumps).