Aluminum Corp of China Monday confirmed that Australia's Queensland state government has granted it preferred developer status for a bauxite mine and alumina refinery project.
Chalco's senior representative in Australia, Wenfu Wang, said an around 18-month feasibility study into the project is continuing.
If it goes ahead, the estimated US$2.2 billion (HK$17.16 billion) development will result in the biggest single Chinese investment in Australia.
The news follows Chalco's final bid in June after reportedly submitting the only preliminary offer from a list of interested parties. Other prospective bidders shied away from the project due to concerns over the deposit's quality, complex indigenous population issues and the cost of building an energy- intensive refinery in the current labor and equipment markets.
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The concession centers on building and operating a mine at Aurukun, on Cape York Peninsula, and a refinery at Townsville, Bowen or Gladstone.
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