Bauxite may stop flowing from Malaysia to China and a major platinum producer lost one of its biggest shareholders.
A Malaysian Bauxite Production Ban?
A potential suspension of bauxite mining in Malaysia, the world’s top exporter of the aluminum-making ore, could dent stockpiles in China but is unlikely to curb breakneck output in the aluminum sector there, industry analysts told Reuters on Monday.
The Southeast Asian nation is pushing to suspend bauxite output due to concerns over its impact on the environment, threatening to interrupt supply to top aluminum producer China, a cabinet source said over the weekend. The largely unregulated industry has grown massively in Malaysia over the last two years to meet Chinese construction demand.
Lonmin Loses a Shareholder
Platinum miner Lonmin PLC said in a regulatory filing that Kagiso Asset Management sold nearly 33 million shares in the company in December, fully divesting its stake.
Cape Town-based Kagiso, Lonmin’s third-largest shareholder, sold the shares on Dec. 17, a week after a crucial rights issue by the company failed to find favor with investors.