Chinalco could invest $426 million in Suriname bauxite project

Chinese mining company Chinalco could invest some $426 million in bauxite mining in Suriname, the chair of a Surinamese presidential mining commission said on Monday, with the South American country expected to get a 13% share in the project.

If approved by parliament, Chinalco could begin construction by the middle of next year and would produce 6 million tonnes of bauxite – the key ore for aluminum – per year, said government advisor Daniel Lachman.

(By Ank Kuipers and Oliver Griffin)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Chinalco could invest $426 million in Suriname bauxite project

By Reuters

Reuters

Reuters

Gold price plunges on keener risk appetite, heavy profit taking

Texas proposes gold and silver-backed currencies to compete with fiat money

Gold price down on corrective pullback from recent solid gains

Gold prices face local peak, silver is the better set-up now – TD Securities’ Ghali

Gold price looks constructive in 2025 but bond yields need to drop sharply to hit $3,000 - WisdomTree’s Nitesh Shah