Global bauxite production growth will accelerate over the coming years, as new projects come online in Australia, India's production ramps up, and Indonesia re-enters the market following the end of the mineral ore export ban. Additionally, Guinea will prove a bauxite production bright spot, supported by a strong project pipeline.
China's 19th National Party Congress reaffirms our previous expectations for the mining and metals industry of the country for the upcoming years. In line with our core views, SOEs will remain the backbone of the industry, supply-side reforms will deepen with greater capacity cuts, and heightened environmental protection will boost prospects for copper, lithium and cobalt.
Mongolia's strong mining sector growth will remain undeterred by the recent ouster of Prime Minister Jargaltulga Erdenebat, as improving commodity prices and existing projects underpin our positive outlook. Nevertheless, downside risks to production forecasts persist, mostly attributed to the high levels of country risk in Mongolia that could temper new investor appetite.
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Thanks, BMI Research