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1、 IBISWorld and ACMR China Industry Report 06 December 2010 Aluminum Ore Mining in China: 0916 DISCLAIMER This product has been supplied by IBISWorld Inc. (IBISWorld) solely for use by its authorized licenses strictly in accordance with their license agreements with IBISWorld. IBISWorld and All China
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5、 Inc. Contents Industry Definition.3 ACTIVITIES (PRODUCTS AND SERVICES) 3 SIMILAR INDUSTRIES3 DEMAND bauxite mining, alumina refining, smelting, processing and trading of aluminum; mining, smelting, processing and trading of copper and other non-ferrous metals; smelting, processing and trading of ra
6、re metals and rare earth metals mining, related engineering and technological services. In 2009, Chalco obtained 11 bauxite-mining rights and its bauxite resources increased by 53 million tons. At the end of 2009, total bauxite resources under the control of Chalco reached 866 million tons, which ca
7、n support 30 years of alumina production demand in the group. KEY COMPETITORS Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 23 In 2007, Chalco signed the Aurukun project development agreement with the Queensland State Government,
8、 Australia, and the Queensland Government officially issued the Aurukun bauxite exploration permit to Chalco in September 2007. In addition, in February 2009, Chalco announced that it would invest $19.5 billion in Rio Tinto PLC and Rio Tinto Limited to create a pioneering strategic alliance. China A
9、luminum Mining Co., Ltd - financial performance Year US Million Dollars Revenue % change Growth US Million Dollars Assets % change Growth US Million Dollars Net Income % change Growth 2006 345.0 N/C 262.5 N/C 11.8 N/C 2007 468.2 35.7 393.6 49.9 11.4 -3.4 2008* 542.9 16.0 498.7 26.7 18.4 61.4 2009* 7
10、20.3 32.7 610.4 22.4 16.7 -9.2 Source: Annual Report Note: *ACMR-IBISWorld estimate Yanshi Fudian Cooperative Bauxite Mine Market Share: 3.9% Yanshi Fudian Cooperative Bauxite Mine in Henan province is a small-scale joint-stock cooperative enterprise. It was established in 1989 in Yanshi city of Hen
11、an province, which is rich in bauxite ore resources. According to data from Henan Administration of State Land and Resources, Yanshi has a total reserve of 1.5 million tons of bauxite, the largest amount in Henan province. Since the founding of the company, Yanshi Fudian Cooperative Bauxite Mine has
12、 provided a large amount of bauxite for the Chalcos Henan subsidiary. The company mainly engages in bauxite ore mining and has 86 employees. In the past five years, this company has experienced rapid growth due to high downstream demand and generally high prices. Industry revenue grew sharply from $
13、12.2 million in 2005 to an estimated $46.5 million in 2009, representing annualized growth of 39.7%. KEY COMPETITORS Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 24 Yanshi Fudian Cooperative Bauxite Mine - financial performance
14、Year Million Dollars Revenue % change Growth Million Dollars Assets % change Growth Million Dollars Net Income % change Growth 2005 12.2 N/C 4.2 N/C 3.2 N/C 2006 29.4 141.0 3.3 -21.4 1.7 -46.9 2007 32.5 10.5 4.1 24.2 2.8 64.7 2008* 60.2 85.2 7.8 90.2 0.3 -89.3 2009* 46.5 -22.8 10.4 33.3 6.1 1933.3 S
15、ource: Annual Report Note: *ACMR-IBISWorld estimate Shanxian Jinjiang Mining Co., Ltd. Market Share: 3.3% Shanxian Jinjiang Mining Co. Ltd is located in Sanmenxia city of Henan province. Sanmenxia city is rich in mineral resources, including bauxite and other nonferrous metals, accounting for 60% of
16、 the total mineral reserves in Henan province. The company has recently improved its production capacity and invested heavily in exploring and developing new bauxite mines. In 2007, these improvements led to the expansion of its mining capacity to one million tons. The company has improved its manag
17、ement efficiency and has addressed environmental concerns at some of its mines. In the next few years, the company will focus on improving bauxite quality and introducing advanced technologies to realize sustainable development. To address the issue of decreasing bauxite resources, the company will
18、invest more to explore new bauxite mine opportunities and further expand its production capacity. Shanxian Jinjiang Mining Co., Ltd. - financial performance Year US Million Dollars Revenue % change Growth US Million Dollars Assets % change Growth US Million Dollars Net Income % change Growth 2006 29
19、.7 N/C 24.6 N/C 2.4 N/C 2007 21.4 -27.9 29.4 19.5 0.1 -95.8 2008* 40.6 89.7 40.3 37.1 4.3 4200.0 2009* 38.2 -5.9 32.7 -18.9 8.6 100.0 Source: Annual Report Note: *ACMR-IBISWorld estimate OTHER PLAYERS There are many small private enterprises engaged in the Aluminum Ore Mining industry in China, acco
20、unting for about 40% of total industry revenue. Most of these private enterprises are located in small counties across China. Dashewan Bauxite Mine KEY COMPETITORS Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 25 Located in Mianc
21、hi country, Sanmenxia city of Henan province, Dashewan Bauxite Mine is a privately owned company established in 1995. The company currently has 112 employees, with total assets over $3 million. Houwa Bauxite Mine The Houwa Bauxite Mine in Sangshu Ping, Zhang village, Mianchi country, Henan province,
22、 is a small-scale private enterprise founded in 1997. The company has 110 employees and is expected to expand strongly in the next five years. Currently, the company is focusing on sustainable development. While gaining economic benefits, the company has invested in upgrading its equipment and techn
23、ologies to reduce pollution and be more socially responsible. Sanmenxia Jinjulei Industrial & Trading Co. Ltd Sanmenxia Jinjulei Industrial & Trading Co. Ltd is a limited liability company established in 2005. It is located in Sanmenxia city, Henan province. In the next five years, the company will
24、keep to its development strategy and expand its sales channels. It will enhance its cooperation will large-scale aluminum companies to establish a long-term and stable supply-and-demand relationship with major bauxite consumers. Yellow River Bauxite Mine Located in Henan province, the Yellow River B
25、auxite Mine has location advantages due to its proximity to extensive bauxite ore reserves. The company is privately owned and was established in 2003. INDUSTRY PERFORMANCE Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 26 Industr
26、y Performance CURRENT PERFORMANCE Large-scale bauxite mining has a relatively short history in China, with most of the industrys enterprises established after 1980. However, the industry experienced very strong growth over the past decade. The strong performance of this industry was mainly due to Ch
27、inas booming real estate and automobile industries, the two largest aluminum consumers. Most of the industrys enterprises are located in four provinces: Henan, Guizhou, Guangxi and Shanxi. However, limited bauxite reserves and relatively low aluminum content has restricted the development of the ind
28、ustry to a certain extent. The majority of Chinas bauxite is embedded in sedimentary deposits. Therefore, it is difficult to establish large-scale open-pit mines. Industry revenue Despite the downturn in the world economy in late 2008 and 2009, industry revenue is expected to increase at an annualiz
29、ed rate of 48.2% in the five years through 2010. Stronger industry growth than the overall economy is due to rapidly increasing prices and demand in recent years, and indicates that the industry is in the growth stage of its life cycle. Strong growth has also been attributable to the rapid expansion
30、 of downstream aluminum-consuming industries, such as real estate, automobile manufacturing and electrical appliance manufacturing. With the recovering aluminum market, industry revenue is expected to rebound strongly by 32.8% in 2010. As China enters a new development stage for heavy industries, au
31、tomobile manufacturing, steel and transportation industries will continue expanding in future years, boosting the development of the aluminum industry. However, industry revenue growth varied significantly from year to year. In particular, the global financial crisis contributed to major aluminum pr
32、ice fluctuations, which was reflected in bauxite prices. Industry revenue dropped by 8.4% in 2009 to $1.56 billion, mainly due to lower prices. In 2008, industry revenue almost doubled to $1.70 billion as bauxite output was reduced and oil prices increased, resulting in sharply increasing aluminum p
33、rices. Although the beginnings of the global financial crisis were being felt in this industry toward the end of 2008, industry growth remained high for the year. Industry revenue growth of 130.7% in 2006 was due to the strong growth of the Chinese economy, coupled with low bauxite supplies. Enterpr
34、ises, employment and wages With a strong industry performance, the number of enterprises operating in the industry tripled from 20 in 2005 to an expected 62 in 2010, after doubling to 52 in 2008. Total industry employment during the period is expected to increase at an annualized growth rate of 17.3
35、%, indicating rapidly growing productivity in the industry. Total wages paid by the industry increased sharply from $15.5 million in 2005 to an expected $72.3 million in 2010, representing annualized growth of 36.1%. Rapidly growing wages in the industry shows rising labor costs in China, although t
36、hese are still much lower than in developed countries. The growth from 2005 through 2010 in employment and wages are mainly attributed to the enterprises production scale expansion after the increases in industry revenue in the years before 2005. International trade INDUSTRY PERFORMANCE Aluminum Ore
37、 Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 27 Due to scarcity of bauxite resources and limited export tariffs, China is not expected to export bauxite in 2010. In the five years through 2010, bauxite imports increased dramatically, with h
38、igh volatility levels. Imports skyrocketed from $117.6 million in 2005 to $1.83 billion in 2008. However, due to the global financial crisis, the average price of imported bauxite dropped from $63.8 per ton in 2008 to $35.7 per ton in 2009. Accordingly, imports plummeted by 59.3% to $746.5 million i
39、n 2009. Imports are forecast to rebound strongly in 2010 with a growth rate of 158% due to higher domestic demand and pricing levels. Bauxite sourced from Indonesia and Australia is expected to account for 98.2% of total bauxite imports in 2010. Other minor suppliers included India, Malaysia, German
40、y, Japan and the Netherlands. China will continue to import a large amount of bauxite from these countries in the future due to Chinas strong economic performance and the relatively poor quality of domestic bauxite. HISTORICAL PERFORMANCE China has a relatively short history of bauxite mining as the
41、 development of aluminum industries requires adequate, cheap power and mining equipment. Prior to 1949, these were lacking in China. After 1949, China began to establish its own aluminum factories and bauxite mines. With the development of the national economy, many industries expanded and developed
42、 strongly, including the Aluminum Ore Mining industry. During the period from 1983 to 1990, the Chinese government implemented policies giving priority to the development of this industry. During this period, investments in the industry accounted for around 44.2% of total industrial investments. By
43、the end of 1990, China had established a relatively complete industrial system for aluminum, with production capacity of 1.5 million tons annually. By the 1990s, China had become a major bauxite producer and consumer in the world. However, most of the enterprises were small in scale. Through reforms
44、 and acquisitions, the Chinese government fostered some large-scale state-owned companies and supported them to compete in international markets. Following urban housing system reforms in 1998, the real estate sector developed rapidly, which increased demand for aluminum products. For the Aluminum O
45、re Mining industry, industry revenue increased strongly, from $39.6 million in 2000 to $290.3 million in 2005 (constant 2010 dollars), representing an annualized growth rate of 48.9%. Total domestic primary aluminum output during this period increased from 2.36 million tons in 2000 to 7.41 million t
46、ons in 2005. In 2001, the development of Chinas western regions continued and fixed investments in infrastructure were expanded, which contributed to the large growth in aluminum consumption. Therefore, industry revenue and imports increased by 124% and 613%, respectively, for the year. Further, alu
47、minum output increased by 41.7% to 3.4 tons in 2001. INDUSTRY PERFORMANCE Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 28 Revenue (constant prices) Revenue $ Million Growth % 1998 44.1 N/A 1999 42.8 -2.9 2000 39.6 -7.5 2001 88.8
48、 124.2 2002 107.1 20.6 2003 132.4 23.6 2004 172.4 30.2 2005 290.3 68.4 2006 669.6 130.7 2007 862.1 28.7 2008 1,702.6 97.5 2009 1,560.3 -8.4 2010 2,071.9 32.8 Revenue Revenue Growth Rate Gross Product (constant prices) Gross Product $ Million Growth % 1998 12.8 N/A 1999 9.9 -22.7 2000 7.1 -28.3 2001
49、18.0 153.5 2002 17.9 -0.6 2003 20.3 13.4 2004 26.8 32.0 INDUSTRY PERFORMANCE Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 29 2005 31.5 17.5 2006 110.6 251.1 2007 174.6 57.9 2008 462.9 165.1 2009 359.8 -22.3 2010 520.9 44.8 Gross Product Gross Product Growth Rate OUTLOOK Aluminum Ore Mining in China 06 December 2010 Copyright 2011, IBISWorld Inc., All China Marketing Research Co., Ltd. 30 Outlook Revenue (constant prices) Revenue $ Million Growth % 2011 2,589.9 25.0 2012 3,107.9 20