Make Kitco Your Homepage

Global bauxite production to grow 10% by 2025 - report

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - According to the recent report by GlobalData, the world’s total output of bauxite, which is the key ore for aluminum production, grew by an estimated 1.2% in 2020 over the previous year to 371Mt.

GlobalData said that this growth was mainly supported by higher output from the world’s second-largest producer, Guinea, with an estimated 25.1% increase.

Meanwhile, GlobalData added that production from Australia, the world’s largest producer of bauxite, fell by 1.2% over the previous year.

Rio Tinto was the largest producer, with an output of 56.1Mt in 2020, up by 2% over 2019, mainly due to the ramp-up from the CBG mine expansion in Guinea, stable performance from the Pacific mine and additional volume from the start-up of the Amrun mine at the end of 2019.

By 2025, GlobalData expects that the global bauxite production to reach 406.7Mt, growing at a CAGR of 2.2% between 2021-2025.

According to the report, Guinea, Australia and Indonesia were the world’s leading suppliers of bauxite, with a combined 141.5Mt of exports in 2020, compared to 118.9Mt in 2019.

In terms of imports, GlobalData said that China was the world’s largest bauxite importer, with 101.6Mt in 2020, up by 0.9% over the previous year.

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.