Chinalco could invest $426 million in Suriname bauxite project

Chinese mining company Chinalco could invest some $426 million in bauxite mining in Suriname, the chair of a Surinamese presidential mining commission said on Monday, with the South American country expected to get a 13% share in the project.

If approved by parliament, Chinalco could begin construction by the middle of next year and would produce 6 million tonnes of bauxite – the key ore for aluminum – per year, said government advisor Daniel Lachman.

(By Ank Kuipers and Oliver Griffin)