Australian company Aldoga Aluminium Smelter announced it would receive RMB 5.8 billion worth of technology and equipment from China Nonferrous Metals Industry's Foreign Engineering & Construction to build a smelter in Queensland, Australia. The announcement came during President Hu Jintao's state visit to Australia.
The Queensland smelter is being backed by OAO Russian Aluminum, the world's number two aluminum maker. Aldoga and China Nonferrous, which represents nine Chinese aluminum producers, are also in negotiations to build an alumina refinery worth RMB 23.2 billion.
With surging demand from carmakers and construction and appliance companies, China needs more alumina to meet domestic shortages. China is now Australia's third largest trade partner and Australia ranks ninth on China's list.