Fitch Solutions pointed out in the latest industry report that after the pandemic in 2020, the new projects in Guinea, Indonesia, Australia, and India will drive bauxite production growth in 2021.
In Fitch's key mines projects database, Australia occupies 12 of the 32 new bauxite projects, more than any other country.
Australia is one of the world's largest bauxite production countries, which produces about 29.6% of total global bauxite production in 2020.
The Guinea bauxite industry has the world's largest bauxite reserves. Fitch predicted Guinea's bauxite production capacity will grow steadily in the coming years by health project pipeline and substantial resource base.
According to statistics from the US Geological Survey (USGS), Guinea has a bauxite reserve of about 7.4 billion tons, and the total production is 82 million tons in 2020. Guinea accounted for more than 22% of the world's total bauxite production in 2020.
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