Canyon Resources, the Australian mining company developing Cameroon’s Minim Martap bauxite project , has recommended the re-election of Director Gaurav Gupta, who also serves on the board of its largest shareholder, A2MP Investments FZCO. The recommendation comes as the company prepares for its annual general meeting on November 30, 2026, where shareholders will also consider a separate board nomination that has not received directors’ support. The developments follow recent proceedings before Australia’s Takeovers Panel concerning A2MP’s unsuccessful attempt to acquire the remaining Canyon shares and a proposed AUD 170 million (USD 115.7 million) financing package. In an October 28 decision, the Takeovers Panel examined the relationship between Canyon and A2MP following the latter’s...
Kazakhstan is preparing to impose long-term export restrictions on specified aluminium foil products and industrial graphite electrodes supplied to other members of the Eurasian Economic Union (EAEU). The measures, outlined in an order signed by the Minister of Industry and Construction on November 5, 2026, will remain in force for several years, with certain exemptions for aluminium foil shipments. The restrictions cover two categories of industrial products of aluminium foil and graphite electrodes. The first includes aluminium foil supplied in rolls that meet specified dimensional and technical requirements. Exports of these products to other EAEU member states will be restricted until November 15, 2030. The second category covers round graphite electrodes used in industrial furnaces....
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With the year-on-year increasing demand for aluminium all around the globe, Germany is reportedly heading towards the hike in aluminium production. According to the German Association of the Aluminium Industry (GDA), the country during the period January to June 2018 produced some 666,700 tonnes of raw aluminium, marking a growth of 0.9 per cent from the corresponding period last year. The raw aluminium production comprised 268,200 tonnes of primary aluminium and 398,500 tonnes of recycled aluminium. Trimet and Hydro are the two notable smelters in Germany that have an annual aluminium production capacity of approximately 305,000 tonnes and 230,000 tonnes, respectively. {newsStudioGallery} This indicates that the country imports a significant amount of bauxite from various parts of the...
Auto suppliers are pitching the U.S. administration on a grace period from tariffs on imported steel and aluminium until enough U.S. capacity is built up. According to them, it will take time to develop more affordable domestic sources of both the metal and they can’t invest in new facilities while getting beaten up by tariffs. "It's difficult, if not impossible, to fund the cost of those tariffs as well as technology development to localize that production," said Ramzi Hermiz, CEO of metal parts maker Shiloh Industries Inc., of Ohio, last week during a discussion here organized by the Motor & Equipment Manufacturers Association. "We need a window of time to ... redefine our supply chain." Hermiz also requested administration to exempt Canada and Mexico from the metal tariffs since they...
Alba announced its financial results for the third quarter and nine months of 2018. Alba said its top-line and bottom-line for Q3 and nine months of 2018 were primarily driven by higher metal sales’ volume and partially offset by higher alumina prices. For the Third quarter of 2018, Alba reported a net income of BD 14.3 million (US$ 38 million), down 44% YoY on higher alumina prices, compared to BD 25.8 million (US$ 68.5 million) in Q3 2017. Total sales/revenues decreased to BD 234.6 million (US$ 623.8 million) versus BD 235.3 million (US$ 625.8 million) in Q3 2017. For the nine months of 2018 , the company’s net income stood at BD 77.3 million (US$ 205.6 million up 12% YoY, compared to BD 69 million (US$ 183.5 million) in nine months in 2017.Total Sales/Revenues rose 16% YoY to reach BD...
The US dollar followed Wall Street lower on Friday, falling from highs earlier in the day after third-quarter GDP data performed stronger than expected. Both LME and SHFE base metals ended in mixed performance on Friday night. Aluminium rose by 0.8%. LME aluminium closed the day’s trading at US$ 1961 per tonne on Friday. It then recovered some losses overnight but potential resumption of Hydro’s alumina refinery and strengthened US dollar depressed LME aluminium to a low of US$1,975 per tonne during night trading. It then rebounded to settle at US$2,006 per tonne. The contract is likely to trade at US$1,970-2,010 per tonne today. As on October 26, Friday, LME aluminium cash (bid) price stands at US$ 1960 per tonne, LME official settlement price stands at US$ 1961 per tonne; 3-months bid...
According to the update from Commerce and Industry Minister Suresh Prabhu, India and the United States have exchanged offers for a possible trade deal to resolve issues related to bilateral commerce. “The negotiations are ongoing,” he said, while adding that the US has given an offer which in return India has given a counter-offer and the negotiation is working on it. India has deferred a notification for hiking import duties on as many as 29 US products. The country had announced to increase customs duty on 29 products, including pulses and iron and steel items, imported from the US as a retaliatory action against the tariff hike by the Trump administration. This new import duty would come into effect from November 2, 2018. The move had come in the wake of reports that US may be willing...
Social inventories of primary aluminium inventories across eight consumption areas in China, including SHFE warrants, declined by some 10,000 tonnes from Thursday October 25 to stand at 1.528 million tonnes as of Monday October 29, Shanghai Metals Market data showed. The decline in inventories of primary aluminium was slower from the drop of 27,000 tonnes during Thursday, October 18 to last Monday, as aluminium producers stepped up operation. In Wuxi and Jiangsu, the inventory declined to 663,000 tonnes today, from 669,000 tonnes on Thursday October 25; in Shanghai and Nanhai, Guangdong, the inventory came in at 347,000 tonnes and 229,000 tonnes respectively. In Gongyi, Henan, the inventory remained unchanged at 91,000 tonnes. The current inventory status in the major Chinese cities is as...
JW Aluminum, a leading domestic manufacturer of flat rolled aluminum, is investing $8.5 million to install a new tension leveling and slitting line at its Goose Creek, South Carolina facility. The new coil processing equipment, custom built by Red Bud Industries and Machine Concepts, is designed to maximize output and increase efficiency. The tension leveler will also ensure optimum material flatness. Installation begins in the third quarter of 2019 and will be fully operational by the end of 2019. Illinois-based Red Bud Industries will manufacture the entire line with the exception of the tension leveler, which will be provided by Machine Concepts located in Minster, Ohio. Red Bud’s equipment features advanced controls and diagnostics that continuously monitor the line to ensure proper...
Bauxite Resources Ltd (BRL) has released its September 2018 Quarterly Report. The report updates on its ongoing projects and future plans. The company continued work on silica sand projects at Albany, Esperance and Gingin and hard-rock quartz projects in Halls Creek, South West WA and Far North Queensland. The Company is seeking Joint Venture partners to assist in fast tracking the development and funding of the Silica Sand Projects following a high level of interest for potential offtake. The company also continued to evaluate the potential for economic development on the bauxite mining joint venture with HD Mining. The current bauxite resource base under the JV is 93.2Million tonnes Inferred Mineral Resource and 1.5Million tonnes Indicated Mineral Resource. The JV requires HD Mining to...
Preliminary estimates from Aluminum Association indicate that aluminium demand in the United States and Canada (shipments by domestic producers plus imports) stood at an estimated 8.54 million tonnes through August 2018, up 2.5 per cent from the same period of 2017. YTD demand for semi-fabricated (mill) products was up 2.3 per cent to 6.1 million pounds. Apparent consumption (demand less exports) in domestic markets was slightly up to an estimated 7.5 million tonnes. Exports of aluminium ingot and mill products from the U.S. and Canada (excluding cross-border trade) totalled 1 million tonnes through August, up 17 per cent over the same period of 2017, while imports were off 7 per cent to 2.6 million tonnes. Demand for aluminium semi-fabricated (mill) products in the United States and...
The aluminium scrap recycling industry, comprises mainly of micro, small, and medium enterprises (MSMEs), is reportedly opposing the proposed import duty hike on aluminium scrap from 2.5 per cent to 7.5 per cent. The All India Non Ferrous Metal Association (AINFMA) is of an opinion that the increase in aluminium scrap import duty would result into the closure of 3,500 MSMEs units, which in turn would lead to job loss of approximately 1.5 lakh workers employed in the sector. "India is already importing large quantity of ingots from countries like Malaysia, Thailand, Vietnam, etc. which have a free trade agreement with us, at zero customs duty, while recyclers are paying 2.5% customs duty. If the duty is hiked, imports of ingots will rise further, which will adversely impact scrap...
The alumina market is going through the most topsy-turvy and volatile period with sharp rise and fall in prices and supply disruptions. The temporary closure of Hydro’s Alunorte alumina refinery in Brazil and uncertainties surrounding U.S. sanction on Rusal pushed up alumina price sky high driving the export market. According to China Customs data, China's exports of alumina increased more than fivefold MoM in September to 166,000 tonnes, the highest monthly volume in 2018. The country's year-to-date exports of alumina exceeded imports for the first time this year. China imported 30,000 tonnes of alumina in September, customs data said. China has finalized orders for the rest of this year for at least 100,000 tonnes of alumina per month. The monthly average spot price for domestic alumina...
The Odisha government on Thursday cleared a big ticket project proposal of Hindalco Industries Ltd worth Rs 5,000 crore. The State Level Single Window Clearance Authority (SLSWCA) in its meeting on Thursday recommended a proposal of Hindalco Industries Limited to set up an aluminum flat rolled product unit of 0.375 MTPA at Sambalpur, an official statement said. This proposal is to set up the unit in the premises of existing aluminium smelter plant of Hindalco at Lapanga in Sambalpur district. The land requirement will be 300 acres for the downstream unit. The project has been re- recommended to High Level Clearance Authority headed by CM Naveen Patnaik. Four other investment proposals have also been cleared by the authority. Employment potential of Hindalco project is 550 people.
Brazilian federal environment agency IBAMA has reportedly lifted the embargo on Hydro’s new Alunorte bauxite residue deposit area DRS2, but embargo from the federal court system still remains in place. IBAMA has lifted the embargo after reviewing information requested by Alunorte and SEMAS, the local environmental agency in the state of Para. This decision follows an exceptional authorisation granted by IBAMA to Alunorte on October 5, to utilise its state-of-the-art press filter technology in the processing of bauxite residues. However, the suspension of the embargo on Alunorte alumina refinery by IBAMA would not allow for an immediate resumption of DRS2 testing and commissioning phase, as the embargo from the federal court remains outstanding. The resumption of commissioning and tests...
Taiwan imports considerable amount of aluminium alloys to supplement domestic production and make value added products. Taiwan manufactures about 819,000 tonnes of aluminium domestically in four main categories: Secondary Aluminium Alloy, Casting, Rolling and Extrusion Industries. The country’s imports were mainly driven by UAE and Russia in 2017. Taiwan's import of aluminium alloy from UAE increased year on year. The country imported about 104638 tonnes of aluminium alloy in 2017. The trend is expected to continue through 2018. Russia exported about 41712 tonnes of aluminium alloy to Taiwan in 2017, an increase of 2.59% from 2016 total of 40660 tonnes. Taiwan’s imports of aluminium alloy from Russia estimated to decline to 35660 tonnes in 2018, down from 6052 tonnes in 2017. Qatar, China...
The US dollar strengthened as the euro and pound slipped on Thursday after the European Central Bank (ECB) kept interest rates unchanged in their October policy meeting. LME aluminium dropped below US$2,000 per tonne level and closed at US$ 1981 per tonne. It has closed lower for seven consecutive trading days and is likely to continue its weak performance in the short term. The contract closed near its day lows overnight and is likely to trade within a range of US$1,980-2,020 per tonne today. As on October 25, Thursday, LME aluminium cash (bid) price stands at US$ 1980 per tonne, LME official settlement price stands at US$ 1981 per tonne; 3-months bid price stands at US$ 1998 per tonne, 3-months offer price is US$ 1998.50 per tonne; Dec 19 bid price stands at US$ 2053 per tonne, and Dec...
Century Aluminum Company announced results for the third quarter of 2018. The company reported a net loss of $20.3 million for Q3 2018 in comparison to net income of $19.4 million for Q2 2018. The adjusted net income was $2.3 million for Q3 2018 compared to adjusted net income of $30.9 million for Q2 2018. Century Aluminium reported adjusted EBITDA of $28.7 million, down $25.8 million from Q2 2018. The decrease was primarily attributable to higher alumina costs, partially offset by higher LME prices and regional premiums. Michael A. Bless, President and Chief Executive Officer said: “Downstream demand continues to show strong growth and forward indicators suggest this trajectory should continue. Global primary aluminium inventories have decreased as forecasts call for a production deficit...
The A00 aluminium ingot price in China continues to witness a drop today, on October 26, 2018, even on the backdrop of shrinking social inventories of primary aluminium across eight major consumption areas, Shanghai Metals Market found. The price today has declined RMB 50 per tonne to stand at RMB 14090 per tonne. The average prices are expected to range between RMB 14070 per tonne and RMB 14110 per tonne, with spot discounts to settle at RMB 70 per tonne to RMB 30 per tonne. The decline in ingot price has also touched the major markets in China. In the east, the price has plunged RMB 65 per tonne from RMB 14135 per tonne, as on October 25, to RMB 14070 per tonne. In the south and north, the prices have plunged RMB 40 per tonne and RMB 35 per tonne respectively to stand at RMB 14170 per...
LB Aluminium Bhd announced in a filing with Bursa Malaysia that its 51%-owned subsidiary Citajaya Kuasa Sdn Bhd has subscribed for two million new shares, representing an 80% stake in Contras Build Sdn Bhd for RM2 million. The remaining 49% of Citajaya is held by Datuk Seri Gan Yu Chai. The company announced in January that it would diversify into property development in a bid to increase its income. The LB Aluminium Group has been delivering world-class products and services in the aluminium industry since its inception in 1985. Their key expertise is in the manufacturing, marketing and trading of aluminium extrusions, sheets and coils, and ceiling metal tee products Meanwhile, the remaining 20% of Contras is held by three different individual owners. Following completion of the share...
