BEIJING (Commodity Online): China's aluminum ore mining revenue is expected to increase by an annualized rate of 19.6% to $7.09 billion during the next five years through 2016, according to IBISWorld, America’s largest publisher of industry research.
China is relatively poor in bauxite ore reserves and resources with China's total bauxite ore exploration accounting for less than 10% of the global total, while the demand for the commodity is high in the country with the rapid economic development.
China imports in 2011 increase 27.7% to $1.8 billion, accounting for over one-third of domestic demand.
But the growth in the number of bauxite mining enterprises operating within the industry is expected to be much slower over the next five years as the country has introduced the Energy Conservation and Emissions Reduction strategy. This policy may force a number of smaller enterprises with high-energy consumption and high pollution to exit the market or merge with larger enterprises.
China imports bauxite ore mainly from Indonesia and Australia.
