Mitsui O.S.K. Lines Ltd. (MOL) has signed a five-year bauxite transport contract with Alufer Mining Ltd. The contract was signed by Toshiaki Tanaka, MOL's Head of Dry Cargo and Bernard Pryor, CEO of Alufer Mining Ltd, at MOL's offices in Tokyo.
Alufer has received all required permissions from the government of Guinea with regard to building the Bel Air bauxite mine and construction commenced in January 2017. The Bel Air mine is located 15 km from the coast near the Cap Verga peninsula, 120 km North of Guinea's capital, Conakry and has a JORC compliant resource of over 146 million t of trihydrate bauxite with low reactive silica.
Alufer is building and will operate the new Cap Verga export facility which will enable the loading of capesize vessels anchored 32 km from the coast. Bauxite production is scheduled to start in 3Q18 and reach production of 5.5 million tpa. MOL's ocean shipping services will support the project.
MOL continues to take a proactive stance in providing safe, reliable and efficient transport of bauxite from the Republic of Guinea and anticipates strong growth in demand for this commodity in that the current market for seaborne bauxite is approximately 100million tpa and is forecast to grow 40% by 2025, primarily driven by import requirements in China.
Read the article online at: https://www.drybulkmagazine.com/shipping/05122017/mitsui-osk-lines-signs-contract-of-affreightment-with-alufer-mining/