Japan’s Mitsui OSK Lines (MOL) has won a five-year bauxite transport contract from Alufer Mining. Capesizes will be deployed to shift bauxite from a new mine in Guinea with most of it heading to China.
Bauxite production is scheduled to start at the Bel Air bauxite mine in the third quarter of 2018 and reach production of 5.5m tonnes per annum.
“[T]he current market for seaborne bauxite is approximately 100mt per annum and is forecast to grow 40% by 2025, primarily driven by import requirements in China,” MOL noted in a release today.