The global bauxite production for 2020 has been predicted to shrink by 0.1%, to 344 mt, as per the UK headquartered data analytics and consulting company GlobalData, production is hardly affected by the interim halt of mines due to COVID-19 epidemic.
GlobalData stated that the production in Australia is anticipated to rise by 1.9% to 107.2kt this year, accounting for almost a third of the global total.
Australia, World’s largest producer of bauxite, Australia, also produces aluminium and steps up to focus at containing the spread of COVID-19 across the country’s mining regions expressed that bauxite operations have been marginally affected by COVID-19 disruptions.
Australia’s largest bauxite mining firm Rio Tinto, reported production of 24.8Mt of bauxite in H1 2020, which reflects up by 8% Y-o-Y. The increase was majorly due to the ramping up of Rio Tinto’s Amrun mine in the far north of Queensland.
Bauxite production outlook is also positive for India, as Vinneth Bajaj, Senior Mining Analyst, GlobalData said: “In India, the fifth-largest producer, bauxite was exempted from the country’s first 21-day lockdown period, with no major hindrance for bauxite mines thereafter. As a result, the country’s bauxite production is expected to increase by 6.5% in 2020.”
However, it has been predicted that China might see a drop in bauxite output of 1.8% this year, despite China’s mines returning to full capacity from mid-April. Brazil could see a more significant fall, with GlobalData forecasting a 4.2% decline in the country’s output primarily owing to depleting ore grades.
The Corona crisis has disrupted smaller bauxite-producing countries more heavily, with Indonesia, Jamaica, Russia, Kazakhstan, Ghana, and Guyana expected to see a collective production drop from 37Mt in 2019 to 33.8Mt in 2020. These countries in 2019 cumulatively accounted for 10.8% of global bauxite output, but this share is set to drop to 9.8% this year.
Bajaj also added: “Production over the forecast period (2021–2024) is expected to grow at a CAGR of 2.8%, to reach 387.4Mt in 2024, with Australia, Guinea, and India to be the key contributors. Combined output from these three markets is expected to increase from 226.8Mt in 2021 to 258.8Mt in 2024.”
GlobalData prediction accounts for vital projects expected to initiate operations in the period, including the Kindia project in Guinea, which is wholly owned by Anglo-African Minerals. The Kindia project is expected to start operations in 2021 with an annual saleable production capacity of 5Mt.
Responses
