The World's largest aluminium producer, Rusal, has been visiting far flung countries such as Fiji and Cameroon seeking alternative bauxite supplies. Barry Fitzgerald has an article in the Fairfax press today in respect of Rusal's interest in Fiji which has not mined bauxite since the early 1970s.
The Chinese are already in Fiji via Xinfa, who also have a presence in Australia as a shareholder in Cape Alumina. Rusal had earlier expressed interest in Aurukun as a competitive bauxite supply to QAL. They don't appear to be big fans of Rio's Weipa monopoly.
Guinea, the Saudi Arabia of bauxite, has become unpredictable for Rusal after the election of a new government last year (sound familiar??).
The name of the game is "front-running" the Chinese and the Russians by putting your foot on what could become strategic ore deposits over time. Hopefully 1200 square kilometres of prospective bauxite ground in Cape York could be a real sleeper for Monax.
MOX Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
