Aluminum Corporation of China Ltd (NYSE: ACH, SHA: 601600, HKG: 2600), known as Chinalco, has delayed a AUD2.2 billion (USD1 = AUD1.08) alumina project in Bowen of the Australian state of Queensland on because of lower global demand, Dan Foo, an Australia-based mining industry analyst with Chinalco, has said.
The project is expected to produce six million metric tons of iron ore and two million tons of refined alumina a year. A final decision on the groundbreaking, originally to be set by the end of 2009, is now said to be made next year, Dan noted.
There are reports that Chinalco is expanding its alumina capacity domestically but the Queensland project will be more cost effective.
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