Availability of Bauxite Reserves

Based upon a large database, this paper analyzes the record of bauxite mine production, exploration success, and resource depletion and evaluates the availability of bauxite reserves in the near future. The record clearly shows that for the past 50 years world bauxite production rose by an annual increase of over 5% while per capita consumption rose during the same period by about 4%. Time trends of the world bauxite reserve life index (RLI); that is, known world reserves of a given year divided by world production of the same year, are episodic and seem to follow bauxite price cycles. The present-day RLI indicates adequate bauxite supply for about 180 years and is the same as it was in 1950. However, if an annual growth rate of 5% is considered, the currently known reserves will be exhausted within the next 20 years and the reserve base will be adequate for not more than 25 years. This scenario is based, of course, on the unrealistic assumption that future exploration efforts fail to discover additional reserves. Evaluation of the quality, in terms of bauxite signatures, and quantity of presently known bauxite prospects that may be mined in future suggests that there is sufficient potential for adequate bauxite supply for the next 20 to 25 years at least. Bauxite signatures cover a wide range of values that allows selection of the most favorable bauxite prospects for future mining, both in economic as well as environmental terms. Although, there is the general believe that the world abundance of bauxite resources will ensure sufficient supply to meet future demands significant additional reserves have to be discovered if exponential growth rates continue. As the question of future bauxite supply is subject to economic and geologic principles one has to take into consideration that increasing exploration maturity in many mineral provinces will make it difficult to locate additional bauxite reserves and that decreasing real commodity prices will influence the level of investment in bauxite exploration.