Biggest Bauxite Deal
(N.Z.P.A.-Reuter—Copyright) TOKYO, January 29. Two leading Japanese aluminium smelters have announced that they have signed a SUS3OOm (s26Bm) contract to import bauxite from Comalco of Australia. Showa Denko-Kaisha and Sumitomo Chemical Company said the contract, signed in Hong Kong, with Comalco of Hong Kong, a subsidiary of the Australian firm, called for the supply of, a total of 50 million tons of bauxite from Comalco’s Weipa mines, over 25 years, beginning in 1976. The new arrangement will replace the old contract to export 10 million tons over 20 years from 1966, they said. It is the biggest bauxite import deal ever to be closed by
Japan. The Japanese aluminium refineries have been asking Comalco to boost its supply of Australian bauxite to Japan to meet fast growing demand for aluminium ingots. Japan’s demand for the light metal is estimated to total about a million tons this year, and is expected to be doubled in the next five years, local industry circles said.
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Press, Volume CX, Issue 32209, 30 January 1970, Page 17
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165Biggest Bauxite Deal Press, Volume CX, Issue 32209, 30 January 1970, Page 17
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