CHINA'S biggest aluminium-maker will revive its controversial bid for rich bauxite deposits on Cape York Peninsula, pitching it against mining giant Rio Tinto and five other contenders.
Chalco has moved after Queensland's Liberal National Party government dropped a condition the successful developer of the Aurukun bauxite lode also build a refinery to process the ore in Australia.
The latest figures on foreign land purchases in Queensland -- the only state to collect and publish comprehensive data -- reveal Chinese investors snapped up $234 million worth of country last financial year, more than double its nearest rival, Britain. Government-owned Chalco, the world's second biggest alumina producer, said it was confident its existing bond with the Aurukun community would put it ahead of its competitors.
"Chalco should have an advantage in this project because in the past seven years Chalco has made a lot of effort . . . (and) has already built a very strong relationship with the local community and government," Daniel Zhou, chief representative of Chalco Australia, told The Weekend Australian.
The company held leases over the 650 million tonne lode until 2011, when the then-Labor state government cancelled the $3 billion deal after Chalco decided building a refinery was not viable.
Chalco would not confirm how much its latest offer was worth, but it is understood the final contract will need approval from the Foreign Investment Review Board.
Deputy Premier Jeff Seeney kicked off a new expressions of interest process late last year and it has just finished, with seven bids received from global and local mining companies.
The Weekend Australian has confirmed that, as well as Chalco, domestic miner Cape Alumina and giant Rio Tinto Alcan are three of the contenders.
Japan's Mitsubishi Australia and Russia's RUSAL refused to comment while Alcoa and Mitsui said they did not take part. Mr Seeney said the government would shortlist up to five proponents by April and then decide on a preferred developer by the end of the year. "The government is committed to working with the people of Aurukun to deliver a world-class bauxite mine," he said.
Commitment to local Aboriginal employment and training will be crucial in deciding which company gets the nod.
Aurukun mayor Derek Walpo said when the mine finally got off the ground it would be hugely beneficial for the town, which has 1200 residents and an unemployment rate of 22 per cent.
"It's going to open doors for the community," Mr Walpo said.
"It's about getting our economy better and it's going to open a lot of job opportunities and (opportunities) for small businesses." An operational mine has been a long time coming for Aurukun.
Companies have been vying for the resource, worth up to $25bn depending on the market value of the ore, since the Bjelke-Petersen government first granted the leases in 1975.
In 2003, then premier Peter Beattie cancelled the leases (held by French company Pechiney) and invited other companies to express interest.
A field of 11 was narrowed to just Chalco in 2006 and the company spent a reported $100m on preparatory work.
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