The acquisition gives Rio Tinto control of a major undeveloped Cape York resource as it expands its existing Weipa operations and advances new mining areas. Rio Tinto is expanding its Cape York bauxite portfolio by acquiring the Aurukun bauxite project from Glencore and Mitsubishi, adding a...
Metro Mining's Bauxite Hills operation delivered record quarterly production as lower unit costs and a broader customer base strengthen its growth profile. Metro Mining is building momentum at its Bauxite Hills bauxite mine in Queensland, with record quarterly output, lower unit costs and improving...
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Members of the Ghana Mine Workers Union (GMWU) have supported the Akufo-Addo Administration’s decision to sign a $2 billion bauxite barter deal with Sinohydro Group Limited. The government is facing criticism from analysts and oppositions on the decision to agree on a loan for infrastructure...
The Ghana government is likely to face political risks from its $2 billion bauxite deal with China’s Sinohydro, Global financial analyst Fitch predicts. MyJoyOnline reported that the report comes at a time when Parliament approved $500 million for phase one of the bauxite deal. Under the deal...
Indian aluminium major NALCO said on August 29 that its net profit for 2017-18 doubled to INR 1,342 crore from INR 669 crore recorded one year ago credited it to its new business plan which has put the company on a new growth path. "The company achieved highest net profit in last 10 years of Rs...
Ukraine’s aluminium ore and concentrated bauxite import volume have reportedly increased by 6.3 per cent in H1 2018 to stand at 2.772 million tonnes, compared to 2.597 million tonnes in the corresponding period of 2017. But the cost remained down by 1.3 per cent to US$ 109.994 million, from US$...
Ghana’s opposition party seeks the opinion of International Monetary Fund (IMF) regarding the US$2 billion deal agreed between the government and China’s Sinohydro Corp Ltd which assures infrastructure development in Ghana in exchange for bauxite. Under the deal China’s Sinohydro Corp Ltd will...
Dr. Camynta Baezie, a former Chief Executive Officer of the State Enterprises Commission suggests the Ghana government should review the US$2 billion worth of bauxite agreement that it recently inked with China. Late July, Ghana’s Finance Minister Ken Ofori-Atta had announced a US$2 billion deal...
According to a report from Proactiveinvestors Australia, Canyon Resources Ltd has raised $5 million from institutional and sophisticated investors. They raised the fund through a heavily oversubscribed share placement comprising of more than 32.2 million shares at a price of 15.5 cents each. The...
According to the report published in Kontan.co.id, the ministry's mineral business supervision director Bambang Susigit confirms that the government has temporarily revoked four concentrate export permits as the four mining companies have failed to fulfil commitments to develop smelters as part of...
According to the latest report on August 18, around 1400 workers have voted almost unanimously in favour of an indefinite strike that started last week for 20 months of negotiation. Workers from the Huntley and Willowdale bauxite mines, Bunbury Port, and the Kwinana, Pinjarra and Wagerup refineries...
According to a Reuters report, Indonesian government has temporarily revoked nickel ore and bauxite export permits of four mining companies. The government cited zero progress in smelter development by those miners as the ground for revoking the licence. This was shown by energy ministry data on...
CM Group projected Chinese demand for bauxite to increase by 65-70 million tonnes a year over the next five to seven years. It will be driven primarily by upcoming new alumina refining capacity, about 60 per cent of whose demand will be met by imported bauxite. Metro Mining has recently entered...
The Federation of Indian Mineral Industries (FIMI)has sought rationalisation of tax on mining, and exemption from export duties on iron ore and bauxite. In a press statement before its 52nd Annual General Meeting, the industry body said taxes and royalty for mining in India are the highest in the...
Fitch Solutions Macro Research just published an update to a previous study looking at the global bauxite market. In the most recent version of the document, the firm states that bauxite production growth will remain high over the coming years, as new projects come online in Australia, Indonesia...
Ghana Vice President Dr. Mahamudu Bawumia declared that around 10,000 housing units would be constructed in Ghana for security personnel across the country under the infrastructure of US$2 billion worth of barter trade bauxite deal signed with Chinese Sinohydro Group. This initiative for the...
Metro Mining has secured and signed further bauxite offtake agreements with its Chinese partners for the supply of its 2018-2019 production from its Bauxite Hills operation in Far North Queensland. After securing the two new agreements, about 90% of Metro’s planned 2018 production is sold or...
Infrastructure development finance institution Africa Finance Corporation (AFC) on Wednesday announced the on time completion of the Bel Air mine, in Guinea on Wednesday. It also announces the first successful shipment of high-grade bauxite to China. The construction of the mine was completed on...
China, with the biggest aluminium market, is constantly diversifying its bauxite import sources and at the same time witnessing a year-on-year growth in volume. According to the latest data by China Customs, the country saw an 8 per cent Y-o-Y growth in bauxite import in June to stand at 7.45...
The Ghana National Chamber of Commerce and Industry (GNCCI) has agreed to lend its support to the Integrated Bauxite and Aluminium Project of the country, stating that this project represents an excellent step to market the country’s own bauxite reserves. Mark Badu-Aboagye, president of the GNNCI,...
