BEIJING (Asian Metal) 16 Sep 15 – On September 15, 2015, Mr. Friday Gao, Base Metals Department manager of Asian Metal visited Top International Holding Pte Ltd., Pengtai International Trading Pte. Ltd., Citra Resources Mining Ltd. and Malaysia Multimetals Resources Sdn Bhd in Singapore.
In the morning of September 15, Mr. Gao firstly visited Top International Holding and shared ideas on the current bauxite market with (Mr.) Victor Tan, CEO of the company. Mr. Tan indicated that they can supply around 1.5 million tons of Malaysian bauxite on average each month and the FOB price of low grade Malaysian bauxite keeps firm at around USD29/t currently.
In the morning, Gao Xingtong also met with Ms. Li Boxin, business manager of Pengtai International Co,. Ltd. in Kuantan, Malaysia, and exchanged views with her on the bauxite market in Malaysia as well as the bauxite export policy in Indonesia.
In the afternoon of September 15, accompanied by Andi Wijaya, general manager of Citra Resources, Friday Gao paid a visit to the Kuantan Port. Mr. Xu disclosed that their company has 10 barges and cooperates with Golden Prosperous Resources to export bauxite with a monthly supply of about 400,000t. They also planned to purchase floating crane when the export policy in Indonesia became clear.
In the afternoon, Friday Gao also met with Mr. Lim Kian Wei, executive director of Multimetals in Kuantan. Multimetals is the first company to export bauxite to China and has started supplying the material since July last year. The total bauxite shipments of their company amounted to about 1.3 million tons last year and around 1.5 million tons from January to August this year. They have 5-6 diggings with total bauxite reserves of around 3 million tons and mainly supply low grade bauxite 40%min at around USD28/t FOB Malaysia.