S Korea firm to import 600000 tonnes alumina from Vietnam

Reuters reported that Dongyang Gangchul will import 600,000 tonnes of alumina or 25% of South Korea annual use, from Vietnam as it plans to build a USD 350 million aluminium refinery.

Dongyang Gangchul, South Korea No 1 aluminium extruding firm with an annual production capacity of 54,000 tonnes has agreed with Vietnam National Coal, Mineral Industries Holding Corp to proceed with building the aluminium refinery in Vietnam, the world No.4 bauxite producer.

The ministry of knowledge economy said in a statement “While South Korea sees its aluminium demand rising, all of the demand is met by imports. If this project was successfully conducted, it would contribute to stabilizing the metal supply.”

The ministry added that on top of the aluminium refinery project, state entities of the two countries have agreed to widen cooperation in developing energy and resources, such as oil, gas, coal and rare earth in Vietnam and other countries. – Reuters

Tags: alumina

Posted by VBN on Dec 28 2010. Filed under Import-Export, Mining & Metal. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry