Global bauxite ore production is set to experience solid growth driven by a robust project pipeline and reach 321.3 million tonnes (Mt) in 2020, according to a report by Timetric. The report states that the production will witness a compound annual growth rate (CAGR) of 3.1% from 2016 to 2020.
Entitled 'Global Bauxite Mining to 2020', the report explains that bauxite mining will flourish in the forecast period backed by key upcoming projects, as well as continued investments in smelting and processing. The leading bauxite producers accounted for an estimated 75.8% of the global total ore production in 2015 and include Australia, China, Brazil, Guinea and Jamaica.
Significant projects expected to boost production include Australia's Bauxite Hills project and the Guinea Dian-Dian project with a 3Mt capacity, with both expected to come online in 2017. These will be followed by Guinea's 20Mt Koumbia bauxite project, which is scheduled to start production in 2018.
Australia's Amrun mine with a 22.8Mtpa capacity, and Brazil's Monte Branco project are also expected to increase the bauxite ore particularly.
A fall in bauxite ore production from Brazil and China in 2015 resulted in a 0.3% decrease in the global production, reaching 279.7Mt. The production also suffered a 5.2% decrease in 2014 due to reduced output from Indonesia caused by a ban on exports of raw ores.
Guinea's bauxite ore reserves represent 26.9% of the global total, making them the world's biggest at 7.4 billion tonnes (Bt). With reserves of 6.2Bt, Australia holds the second largest reserves globally followed by Brazil (2.6Bt).
The Timetric report also identifies the leading bauxite ore exporters globally in 2014 as Guinea, Australia, Brazil, India, Jamaica and Malaysia; while the top importers were China, the US, Ireland, Canada, Ukraine, Spain and Germany.
The global bauxite mining industry is dominated by Rio Tinto Plc, Alcoa Inc, National Aluminium Company Ltd (Nalco), Aluminium Corporation of China Ltd (Chalco), South32 Ltd, and Gujarat Mineral Development Corporation Ltd.