Newly listed Cape Alumina expects to start construction of the 7m tpy Pisolite Hills bauxite project in Queensland, Australia, in early 2011. The company listed on the Australian Se-rncurities Exchange at the end of January after raising more than AD15m (USD9.5m). Its share price has since fallen 20% to AD0.40. Cape Alumina with its Pisolite Hills project to start in 2012/2013 with a mine life of at least 12 years is poised to become the second largest bauxite producerin Australia after Rio Tinto. Metallic Minerals owns 32% of Cape Alumina, whose major shareholder includes Chiping Xinfa Huaya Alumina Co. and Resource Capital Fund. Production from the Pisolite Hills project is mainly for export to China's alumina refineries.
展开▼
