Russian aluminium producer Rusal is nearing the final stage of the permitting process for a planned bauxite-to-alumina processing project in Kalimantan, Indonesia, according to Energy and Mineral Resources Minister Bahlil Lahadalia. The project will process bauxite into alumina as part of...
Alcoa Corporation has set the price for a USD 2.6 billion senior notes offering to help finance the cash consideration for its proposed acquisition of South32’s bauxite, alumina, and aluminium assets . Along with the cash on hand, this debt is expected to provide permanent funding for the...
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Morgan Stanley is out with its report today on Alcoa (NYSE: AA), maintaining Overweight. In a note to clients, Morgan Stanley writes, "Alcoa's 2Q revenues beat our estimate; earnings were in-line on cost pressure. Downstream contributed ~45% of earnings and alumina pricing remained above historical...
Fitch Ratings has assigned primary aluminium manufacturer China Hongqiao Group Limited (Hongqiao) a Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB' with Positive Outlook, and a senior unsecured rating of 'BB'. The agency has also assigned Hongqiao's proposed senior unsecured notes an...
Exploration Orbite (TSX VENTURE:ORT.A) was added to the Russell Global Index when Russell Investments reconstituted its comprehensive set of global equity indexes on June 24. The new membership lists are available at www.russell.com/indexes/tools-resources/reconstitution.asp. Membership in the...
Global Alumina Corp. (TSX: GLA.U) says a joint venture board of directors has approved an additional $4 million in funding to develop an alumina refinery, mine and infrastructure in Republic of Guinea. The miner will pay one-third or $1.3 million as part of its stake in the project. The joint...
Global Alumina Corporation (TSX: GLA.U) (the "Company" or "Global Alumina"), a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea (the "Project"), announced that the joint venture board...
Alcoa Inc. (AA), the largest U.S. aluminum producer, may say second-quarter profit more than doubled as customers from General Motors Co. (GM) to Airbus SAS helped drive demand for the lightweight metal. Profit excluding one-time items rose to 33 cents a share, from 13 cents a year earlier,...
Montreal-based Exploration Orbite has raised $57.5 million through a recently completed bought deal. Most of the net proceeds will be used to convert the company's Cap-Chat pilot plant into a commercial facility producing ultra-pure alumina. Orbite's major holding is its Grande Vallee property in...
SmarTrend identified a Downtrend for Alumina (NYSE:AWC - Snapshot Report) on May 03, 2011 at $9.65. In approximately 2 months, Alumina has returned 4.4% as of today's recent price of $9.23. In the past 52 weeks, shares of Alumina have traded between a low of $5.03 and a high of $11.46 and are now...
In what appears to be technological break, Vedanta Aluminium Limited (VAL), the Indian arm of London based Vedanta Resources Ltd, is recovering import-substitute Vanadium from effluent red-mud from its alumina refinery project at Lajigarh minting gold from its mud-to-money (MTM) programme. The...
Two decades after economic reforms and the junking of industrial licensing circa 1991, a remote corner of India , Lanjigarh, off Niyamgiri hills in southern Orissa, produces about as much alumina now as was the total national output then of the high-value commodity . The one-million...
THE Queensland Government has confirmed it will call an international tender for the development of the Aurukun bauxite resources in western Cape York, effectively snubbing the giant Chinese Aluminium Company (Chalco). Treasurer and Minister for State Development and Trade Andrew Fraser last night...
The Saudi Arabian Mining Co (Ma'aden) has received commitment letters to cover the required $1bn commercial bank financing for the development of Ma'aden Bauxite and Alumina Co's bauxite mine and alumina refinery, Saudi Gazette has reported. The period of the loans is 16 years and will be paid in...
The Queensland Government will conduct an international tender for the development rights of the Aurukun bauxite in Western Cape York., “The original tender process in 2005-06 was based on bidders committing to develop the bauxite resource as a bauxite mine as well as a new alumina refinery to...
Aluminum Corp of China said its discussions over possible development of bauxite resources in Australia had ended and that it would make provisions for impairment on associated expenditures. The Queensland government terminated the discussions, the company said late Sunday, putting an end to what...
THE LARGEST aluminium refinery in Europe, Rusal Aughinish on the Shannon estuary, returned to profit last year after sustaining combined pre-tax losses of $63.6 million (€43.7 million) in 2009 and 2008. A spokesman for the company confirmed yesterday that its 2010 accounts are expected to show a...
The company is boosting sales, strengthening R&D amid rising costs. Under efforts to increase margins, Shanghai Everskill M&E Co. Ltd has launched a super-thin seamless aluminum tube seen to replace costly copper variants. This comes amid the company’s plans of increasing prices in the next six...
Cape Alumina Limited (ASX: CBX) (“the Company”) is pleased to announce that it has secured $1.8 million in funding from three of the Company’s largest shareholders (Relevant Shareholders) through the issue of Convertible Notes. The funds will be applied to advancing the Company’s Bauxite Hills...
The environment group Friends of the Earth says the aluminium industry should commit to adopting more renewable energy rather than attacking the proposed carbon tax. The Australian Aluminium Council says production may be forced offshore if the carbon tax does not include compensation for the...
