looks as if the RUSAL (the Russian company) and the Chineese are to dominate the world grade A bauxite market....one of the only other places that grade A is to be found...is China.
Canadian company sells stake in Guyana bauxite mines to Chinese firm
The Associated PressPublished: December 20, 2006
GEORGETOWN, Guyana: Canada's IAMGold Corp. said Wednesday it has agreed to sell its stake in Guyanese bauxite mines to a Chinese company for US$46 million (€35 million).
Under the agreement, Bosai Minerals Group Co. will assume US$18 million (€13.6 million) in third-party debt.
"The transaction is consistent with our strategy to focus on our core assets," said Joseph Conway, president and chief executive officer of Toronto-based IAMGold.
The two companies said they expect industry regulators to approve the deal by Dec. 31.
Guyana, located on the northeast coast of South America, is among a few countries that produce a high-grade bauxite, the raw material for aluminum which is also used in aircraft and industrial construction.
Goldstone Res stock quotes
Goldstone Res stock charts
Follow this thread
