A TOTAL of 70,000 tonnes of bauxite valued about $1.4million is at the Aurum Exploration (Fiji) Ltd's stockpile area in Nawailevu, Bua, as the demand for the ore faces a global slump.

Company executive Derek Qiu said there had been a global decrease in the demand of aluminium.

Mr Qiu said 50 per cent of mining operations around the world would close down if the slump persisted.

"This year, we are only having two shipments of bauxite due to the situations brought about by the global market," he said.

"Compared with past years when we used to have a total of six to seven shipments of bauxite to China.

"We are slowly feeling the effects of the global economic recession in the prices of bauxite and other ores too whose market prices have really fallen this year."

According to a report from Thestar.com, global prices of aluminium had indeed slumped as a glut emerged with China exporting more aluminium in the first quarter of 2015.

According to the report, exports of unwrought aluminium and aluminium products from China surged 43 per cent in the first quarter of this year to 1.2 million tonnes.

"This worsened a glut situation in the commodity where aluminium global giant Alcoa reversed earlier estimates of a deficit to a big surplus of the metal in the global market," the report stated.

"Earlier this month, Alcoa projected that the global aluminium market will see an oversupply of 326,000 tonnes in 2015 compared with a forecast of a deficit of 38,000 tonnes it estimated in January.

"The main reason for that differing view is China's output and with China set to end export taxes on certain types of aluminium products, the glut is pressuring the global market."

Meanwhile, Aurum Explorations Fiji Ltd's business adviser Michael Nesbitt said a slump in global demand for aluminium meant a decrease in the demand for bauxite, which was an ore of aluminium.