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Singapore-based company invests 200 mln USD in bauxite mining in Africa

Xinhua, October 6, 2015 Adjust font size:

Winning International Group ( Winning), a Singapore-based company, has through its formed consortium invested 200 million U.S. dollars in the bauxite-mining concession of the Boke Region of western Guinea of Africa, the company said here in a press conference on Tuesday.

Partnering with Weiqiao Pioneering Group from China's Shandong province, UMS as well as China's Yantai Port Group, the company plans to increase its production of bauxite ore from 5 million tons to 10 million tons, and eventually to 30 million tons under three phases in two years, becoming the world's largest single bauxite producer.

So far, the current annual production capacity of the world's largest single bauxite mining company is more than 20 million tons.

Guinea has the richest bauxite reserves in the world. According to statistics by U.S. Geological Survey, it is estimated that Guinea has a bauxite reserves of 7.4 million tons, equivalent to 26 percent of the total reserves of the world. However, its production capacity only accounts for less than 10 percent of global production.

The project, which is the largest mining and logistics project operated by Singapore-based company in Africa, will meet the growing demand of bauxite from the Chinese market.

"We are very excited and have great expectations about the project. This is an investment transcending regions, fields, continents and countries, connecting Singapore, Africa and China," said Sun Xiushun, president and chairman of Winning, also the general director of this project.

Sun said the project also marks a new era with numerous opportunities brought up by China's Belt and Road Initiative.

"Cooperating with partners from China and Africa, Winning exploits its advantages such as technologies and experiences, finance and equipment in marine shipping industry to realize relevant values," he said, adding that the project has created 3, 000 jobs for local community and win-win situation for all stakeholders.

Incorporated in Singapore in 2010, Winning International Group is dedicated to providing holistic logistics solutions for China's nonferrous metal industry to develop new markets, import resources and ship goods. It has established long-term strategic partnership with enterprises from China, Indonesia, Malaysia, India and Australia. Endi