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|Friday, May 11, 2001, updated at 09:42(GMT+8)|
China's Major Aluminum Mine Project Begins
The second phase of the Pingguo Aluminum Mine project, one of the key construction projects approved by the central government in the current developing the west drive, was started Thursday.
The second phase of the project includes a mine with an annual output of 1.1 million tons, an alumina factory with an annual output of 400,000 tons and the relevant power and other facilities.
The total investment to the second phase of the project was estimated to reach 1.89 billion yuan (230 million US dollars). It is expected to be completed in 2003.
According to Guo Shengkun, general manager of the China Aluminum Industrial Corporation, China produced 4.29 million tons of alumina last year, ranking third in the world in terms of production volume.
However, he said China's current alumina production is still not be able to meet the rapid demand growth. It is estimated that in the next few years China will have to export 1.8 million tons of alumina every year.
According to him, the third phase of the Pingguo Aluminum Mine project will be started in five years and by the year 2005, the alumina production volume there will reach 1.25 million tons.
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