NDRC: blind investment boom unchanged for alumina, copper and zinc & lead smelting projects

摘要

The National Development and Reform Commission (NDRC), Chinese industrial watchdog and policy maker, on March 1 released a report on development picture of nonferrous metals industry in China in 2005, roundly criticizing blind investment in alumina, copper and zinc & lead smelting projects. At present, the alumina projects under construction or in plan have a combined capacity of 12.15 million tpy. The investments in these projects are estimated at 55 billion yuan(USD6.84 billion). It is expected that Chinese alumina capacity will reach 11.3 million tpy by the end of 2006 and increase to 17.5 million tpy by the end of 2007 and further up to 21.0 million tpy by the end of 2010. It is likely that bauxite supply will become tighter in China by that time, NDRC said in the report.