China recorded a bauxite price of USD 64 per dry metric tonne (DMT) on a CIF basis in August 2026, while India's quotation stood at USD 73 per DMT on an FOB basis, according to the supplied market assessment. The reported USD 9 difference highlights contrasting price levels across the two markets, although different shipping terms make a direct cost comparison difficult. China's CIF quotation includes freight and insurance, whereas India's FOB price covers the material up to loading at the port. Buyers sourcing bauxite from India therefore need to account for additional shipping costs to determine the final landed price. As a result, the USD 9 difference does not represent the actual gap between the two markets' delivered costs. Freight terms complicate regional bauxite price comparison...
Russian aluminium producer Rusal has reached an agreement with Ghana's state-owned Ghana Integrated Aluminum Development Corporation (GIADEC) to jointly develop bauxite mining and alumina refining projects, marking a significant step towards expanding the country's domestic aluminium value chain. Under the agreement, the projects will be implemented through two joint ventures in which Rusal will hold majority stakes. The proposed developments include bauxite mining operations with annual production capacity of up to 5 million tonnes and an alumina refinery capable of producing 1.2 million tonnes annually. The projects will target the Nyinahin bauxite deposit in southwest Ghana, where estimated resources exceed 100 million tonnes, according to Rusal. The agreement was announced during a...
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Nigeria and Guinea are exploring prospects for an agreement to promote a joint investment drive for the development of key sectors in their economies. At a meeting between Guinean president, Alpha Conde, and the managing director, Nigeria Export-Import Bank (NEXIM), Roberts Orya, discussions focused on trade partnerships between Guinean businessmen and women and their Nigeria counterparts to boost non-oil exports of the two countries. It was gathered that the areas being considered for such partnership include manufacturing, solid minerals, mining, transport and aviation, as well as hotel and tourism. Nigeria is reputed to be the world’s sixth largest exporter of oil and gas, while Guinea controls more than 25 per cent of the world’s bauxite reserves, apart from a healthy deposit of other...
In an Australian first, Prime Minister Julia Gillard has signed a lease agreement between a mining company and traditional land owners. Despite claims yesterday from some Aboriginal residents in the area that they had not been consulted on the lease and would be boycotting the ceremonial signing, it went ahead without incident. The agreement allows the company to mine bauxite on more than 22 000 hectares of land surrounding the town of Nhulunbuy in the Northern Territory for 42 years. Since the 1960’s bauxite mining has been occurring in the region without permission from indigenous land owners, which was a major contributor to the lands right movement in the country. Hundreds of Yolgnu people gathered at the ceremony yesterday, where Gillard said the mining lease was an example of...
Orissa Diary reported that loud slogans to care environment and to plant trees were heard from hundreds of school children and local leaders of Lanjigarh periphery area who participated in a Green March organized by Vedanta Aluminum Limited, Lanjigarh to mark the World Environment Day 2011. Dr Mukesh Kumar president & COO of VAL, Lanjigarh made the flag off of the march who also led the rally. The Green March started from the VAL Township and covered villages like Jagganathpur, Kendubardi and Niyamgiri Vendanta Nagar. They made the villagers aware about the importance of environment and planting trees. Initiating to convert dry lands into green valley, Dr Mukesh Kumar announced that the time from June 5th to July 5th 2011 will be marked as Green Month where thousands of saplings will be...
Controversial mining firm Vedanta has created a new global comms leadership role, as it bids to rehabilitate a reputation that has been dogged by numerous environmental and human rights allegations. The company, founded in India but now headquartered and listed in London, has poached Senjam Raj Sekhar, one of India’s most experienced corporate communications specialists, for the role. Sekhar joins from Indian conglomerate Bharti Enterprises, where he headed communications for the past six years, helping it navigate its expansion across 19 countries in Asia and Africa. He told the Holmes Report that the opportunity presents a “new challenge. “Vedanta operates in a sensitive sector with multiple stakeholder interests,” added Sekhar. “Corporate communications can play a vital role in leading...
Work on the removal of pine logs at the bauxite mining site in Bua is expected to get underway soon. This is after Fijivillage while on a trip to the North noted that while tenders were called for the removal of the logs in April, nothing had been done. Tropik Woods of Fiji Executive Chairman, Faiz Khan confirmed that the tender had been awarded to a company based in Vanua Levu however they did not fulfill their contractual obligation. He added the tender was terminated earlier this week, and a new company was yesterday awarded the works. It is understood that the logs have been lying idle in Nawailevu for the past two years.
Primary aluminum producer Ormet Corp. has its eyes set on growth, with a push into bauxite mining or the purchase of competitors’ aging assets emerging as two possibilities on its radar, the company’s top executive told AMM. Primary aluminum producer Ormet Corp. has its eyes set on growth, with a push into bauxite mining or the purchase of competitors’ aging assets emerging as two possibilities on its radar, the company’s top executive told AMM. "We are a single smelter, single refinery. For us in the future, we have to grow," Mike Tanchuk, Ormet’s chief executive officer, said Monday on the sidelines of AMM’s Aluminum Summit in New York. "We have to get stronger as a company to be able to get more out of the good times and weather the bad times better." Several different growth...
Australian Bauxite Limited (ASX:ABZ) Chief Executive Officer, Ian Levy, discusses the progress of Australian Bauxite with Finance News Network. Lelde Smits: Hello Lelde Smits reporting for the Finance News Network. Joining me today from Australian Bauxite is CEO, Ian Levy. Ian, welcome to FNN. Could you start by introducing Australian Bauxite? Ian Levy: Well, Australian Bauxite is a newly listed company in that we listed in late 2009. A lot of the work had been done in the prior years planning this strategy. Our ambition is to be in production during 2014 and possibly earlier if we can, to capitalise on what we see as a major change in the bauxite global trade position, particularly relating to China and to India.
Mining, dispatch and transportation of bauxite from Pakhar mines in the Naxalite-hit Kisko police station area of Lohardaga district have come to a grinding halt since Wednesday evening after a group of rebels torched six vehicles. “Mining and transportation activities have been put on a halt since June 1. Around 25 rebels owing allegiance to the CPI(Maoist) burnt down three trucks, an SUV and two earth-moving equipment around 5.30pm and partially destroyed another vehicle. They also fired in the air and beat up the drivers and helpers,” officer in charge of Kisko police station Munu Tudu told The Telegraph. The vehicles belonged to a contractor and private operators working for Hindalco Industries Limited — an Aditya Birla Group company. One of the richest bauxite mines in Lohardaga,...
To start with one for bauxite in Kutch. State-run Gujarat Mineral Development Corporation (GMDC) is looking to add value to its mineral products with private partnerships. It sells raw bauxite and plans to set up a project for value addition in bauxite products at Kutch. There is a huge market for value added mineral products and we are looking to tap this opportunity. There are three projects being planned for value addition, but initially we will take up the value addition for bauxite. So far, we have been selling raw bauxite but the value addition will help us increase the value of the mineral by about six-seven times. However, the revenue targets from the project would only be known once the draft project report (DPR) is prepared," said V S Gadhvi, managing director. The company has...
Bauxite Resources Limited (ASX:BAU) wishes to advise the appointment of two alternate directors, Mr Kevin Ernest Judge (as alternate for Mr Luke Atkins) and Mr Chenghai Yang (as alternate for Mr Ding Feng). Mr Judge is the founding and senior partner of Judge Constable, a Chartered Accounting practice established in 1989. Mr Judge has extensive experience at board level on many ASX listed mining companies. Mr Chenghai Yang is a senior executive with Shandong No.1 Institute of Geology & Minerals Exploration and is the Managing Director of their Australian subsidiary HD Mining and Investment Pty Ltd.
LAND-clearing and road construction works at the bauxite mining site at Nawailevu in Bua are progressing well, says Aurum Exploration (Fiji) Limited manager Sang Lei. Mr Lei said the company was focused on completing the road to the proposed site. So far, the contractor hired by Aurum Exploration has completed the construction of a bridge inland. "We had wanted to complete the road but there has been too much rain this year," Mr Lei said. Mr Lei said the company received its licence to mine bauxite in the area two weeks ago. "Our machines are coming, they should be in the country in the next few months," he told reporters who visited the site on Monday. No locals have been employed at this stage but Mr Lei said 150 would be taken on board when operations start. He said an environment...
The million dollar Bauxite mining operation in Bua has been further delayed. This report from our Reporter Tokasa Rainima who is in Bua. There is an audio file attached to this story. Please login to listen. This is the third delay that the owners Aurum Mining Limited are facing, the first being the removal of pine logs that were on site for close to two years, followed by the evacuation of the mine site for fears of the spread of typhoid. Arum Explorations Fiji limited will spend 2.5 million Australian dollars in getting heavy equipments and machinery for the mining in Bua. The actual mining work will start at the end of the year.
Anil Agarwal-controlled Vedanta Resources is likely to hire Sushil Kumar Roongta, former chairman of Steel Authority of India , as head of aluminium business , sources with knowledge of the development said. Roongta is expected to oversee aluminium operations at Balco, Malco, and Vedanta Aluminium from June. Roongta's appointment is viewed by industry experts as part of the group's strategy to get closer to government quarters following the problems it faced since the Cairn deal announcement. A Vedanta source said, "It is clear that we have to be close to the government and that's what we are working on." Agarwal has given mandate to Roongta, who has spent about 37 years in metals space and worked closely with government machinery, to smoothen processes pertaining to seeking government...
Sydney, May 27, 2011 (ABN Newswire) - Australian Bauxite Limited (ASX:ABZ) release the following Chairman's Address to 2011 Annual General Meeting. On behalf of your Directors I am pleased to present the annual report of Australian Bauxite Limited for the twelve months ended 31 December 2010. I would like to take this occasion to reflect on accomplishments and challenges of 2010 and to look forward into 2011 and what it holds for Australian Bauxite.
FOUR decades after bauxite mining began on the Gove peninsula, traditional owners have finally secured a benefits package worth more than $700 million over 42 years that is focused on education, jobs and business development. The money will be paid into a future fund to secure the long-term development of the region, with a strong emphasis on payments designed to end the culture of welfare and poverty. Yolngu elder Galarrwuy Yunupingu has led negotiations with mining giant Rio Tinto Alcan over the past three years to secure a deal that will develop the skills of his people, rather than encourage the "sit-down" mentality that has followed earlier agreements. While the details are confidential, the agreement is structured to pay between $15m and $18m a year over the next 42 years, depending...
Queensland's Wild Rivers laws could thwart plans for a large-scale bauxite mine on Cape York for a second time. Cape Alumina was last year forced to abandon its Pisolite Hills project when the state government made a Wild Rivers declaration over the Wenlock River basin. The declaration banned mining within 500 metres of rivers, creeks and tributaries in the basin, making the project unviable. Advertisement: Story continues below. Now the company's Plan B site is facing a similar fate. Environment Minister Kate Jones has reconfirmed the government's intention to make a Wild Rivers declaration over the Ducie River basin, but won't give a time frame. The basin takes in Cape Alumina's proposed Bauxite Hills site around the Skardon River. The Wilderness Society, the driving force behind the...
Ms Lurlene Nestor, in a letter published in the May 20 edition of Kaieteur News (KN), asks, ‘What about the bauxite workers, Mr President?’ Let Prime Minister put straight the facts! This PPP/C Government has been treating bauxite workers and sugar workers equitably! Yes, the government recently assisted GuySuCo in providing $300 million to pay severance benefits to sugar workers of Diamond Estate. And you know what, this same government, in the decade from about 1994, provided much larger sums to bauxite workers in meeting commitments to workers, commitments that had not been met since the 1980s, during the era of the preceding PNC government! This government’s assistance, in payments to bauxite workers, totalled: Bauxite Workers’ Savings Scheme : 32,031,254. Un-met Submission of...
CRU's World Aluminium Conference provides a complete assessment of the aluminium supply chain, with unrivalled global analysis and networking. There is a great deal of positive sentiment in the aluminium industry at the moment. Demand performance in 2010 and growth projections for 2011 and 2012 are all higher than previous estimates. Favourable power contracts and high LME prices are underpinning confidence and there have been fewer smelter closures and more smelter re-starts than previously expected. Nonetheless, in spite of the positive outlook there are a number of challenges and uncertainties. The disconnect between inventory and price, the implications posed by developments in the Middle East, and macroeconomic policy in Europe and North America are all high on the agenda. CRU's...
