Bauxite Weekly Recap: Guinea mining contracts review bound to happen, but not soon; Mining Industry Indonesia visions end-2022 towards floating IPO of Inalum
This week, the bauxite industry started with the news that, a team of Andhra Pradesh Mineral Development Corporation (APMDC) officials had started their journey to London for attending the upcoming hearing of a case scheduled on September 27 concerning the international arbitration raised by Ras-Al-Khaimah Investment Authority (RAKIA) over the cancellation of a bauxite supply agreement between the APMDC and ANRAK Aluminium Ltd.
On 27th September 2021, the CEO of the state mining holding firm Mining Industry Indonesia (MIND ID), Orias Petrus Moedak stated the company is looking out for an initial public offering (IPO) around the end of next year for its bauxite mining business. The CEO further added, as a controller shareholder, the State-Owned Enterprises Ministry is presently in the process of separating MIND ID and its bauxite business, known as Inalum, into two entities in preparation for the IPO, chief executive Orias Petrus Moeldak said.
To know more: https://www.alcircle.com/news/mining-industry-indonesia-visions-end-2022-towards-floating-ipo-of-inalum-70485
On 5th September 2021, following the political unrest in West African nation Guinea, which dethroned President Alpha Conde, one working official from the Russian aluminium giant Rusal commented: “Political turmoil has not disrupted the mining sector as much as some had predicted. Everything is stable, business is going on. It's just a transition period we are going through."
To know more: https://www.alcircle.com/news/guinea-mining-contracts-review-bound-to-happen-but-not-soon-chatham-house-70495
The mining and transport minister of Jamaica, Robert Montague stated that the Government finalised an agreement with Concord Resources Holding Limited for the reinstatement of the bauxite production levy on the export of aluminium ore. On 29th September 2021, Montague said to the House of Representatives: “The reinstatement of the levy is one of several agreements coming out of negotiations which started in August with Concord, its new joint partner in New Day Aluminum (Jamaica) Limited.”
To know more: https://www.alcircle.com/news/jamaica-govt-finalizes-agreement-with-noranda-for-reinstatement-of-bauxite-levy-70503
Lindian Resources Limited concluded the fiscal year 2021 on a good note, with eight new highly prospective tenements added to its existing portfolio in the West African bauxite hotspot in Guinea. According to the report, Lindian secured the tenements through the Lushoto and Pare bauxite projects in Eastern Tanzania’s Mozambique Belt. According to Lindian, the usage of aluminium will grow significantly in wind and solar power, carbon storage, electric vessels, electric motors, and energy storage markets.
On 29th September 2021, the Athens-listed leading global industrial and energy company, Mytilineos declared its engagement as a coordinator in the European Union’s SCALE project with an experimental plant for the extraction of scandium from bauxite residue. A silvery-white metallic d-block element, Scandium is historically classified as a rare-earth element (REE) and is on the EU list of critical raw materials.The Greek bauxite which is processed by Mytilineos is relatively rich in scandium and likewise produces bauxite residues that are rich in scandium. The project has governed to expand the concentration of scandium from bauxite residues by 2,500 times by implementing an innovative technique.
To know more: https://www.alcircle.com/news/mytilineos-engages-in-eus-scale-project-to-extract-scandium-from-bauxite-residue-70511
On 30th October 2021, Sridhar Patra, the Chairman-cum-Managing Director of Nalco stated that the pre-project ventures like securing green clearance for the execution of the mining lease of Pottangi bauxite mines in Koraput district of Odisha and construction of an 18-km overland conveyor are advancing.
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