Automobile manufacturers consume 18% of the world’s aluminum, according to the company Nami Corp.
Nami is a Malaysian corporation primarily engaged in certain mineral trading and property exploration and mining activities located in Malaysia.
With that percentage, car manufacturers are the main industrial consumers of aluminum globally.
By 2050, according to the company, industry demand for aluminum is projected to double, as automakers increase their use of this lightweight metal to improve battery life.
Now China dominates global aluminum production.
In the first half of 2020, China imported 58.3 million tons of bauxite, 30.3% more compared to 2019, and in the last five years, China’s bauxite imports have grown at an annual rate of 20 percent.
Industry experts predict that this trend will continue to grow and that China’s dependence on imported bauxite for its domestic aluminum production may increase from 50% today to reach 80% in the next few years.
In 2015, Malaysia exported 24.3 million tons of bauxite, generating revenues of $ 1.1 billion for exporters.
Thus, China accounted for 99% of Malaysia’s bauxite exports.
In 2016, the Malaysian government banned all bauxite mining activities due to environmental concerns and ordered the clean-up of the inventory of bauxite stored in the country, requiring that all exports be made in accordance with approved permits issued by the Malaysian government. .
As a result, Malaysia exported only 7.4 million metric tons of bauxite in 2016.
The ban on bauxite mining in Malaysia lasted for three years and was finally lifted in April 2019.
The approximate total amount of bauxite exported in 2018 decreased significantly to 515,217 tons from 822,668 tons of bauxite exported in 2017.
Sincere Pacific currently has an approved permit to export bauxite, ensuring that the company applies sustainable mining practices to avoid environmental damage.
Las exportaciones de bauxita requieren permisos aprobados emitidos por el Ministerio de Malasia. Sincere Pacific recibió un permiso aprobado que puede renovarse con el gobierno de Malasia.