Ghana puts bauxite, lithium and iron ore in the spotlight to woo Australian capital
Ghana has stepped up efforts to attract Australian investment into its growing critical minerals sector, pitching the country as a stable and reform-driven destination for mining and value-added mineral development at the 2026 Africa Down Under (ADU) Summit in Perth. The Ghanaian delegation was led...
Alcoa prices $2.6b senior notes for South32 bauxite, alumina and aluminium deal
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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Australian alumina makers delay restocking caustic soda as price falls
Alumina producers in Australia have been asking to delay taking delivery of caustic soda term contract cargoes in anticipation of lower prices, a source at Taiwan's Formosa Plastics said this week. They have been drawing on existing stocks ahead of contract price negotiations for the fourth...
Rio Tinto Alcan looks at Cairns training centre
MINING giant Rio Tinto Alcan is assessing sites for a recruitment and training centre in Cairns for its $1 billion-plus Weipa bauxite expansion project. Rio Tinto Alcan Weipa operations general manager Jo-Anne Scarini said the company wanted Cairns to share in the economic benefits the project...
6Mt bauxite resource declared in NSW
ASX-listed Australian Bauxite has reported a maiden resource of six-million tons at its Guyara project, in New South Wales. The company said on Monday that the bauxite was relatively consistent in quality, demonstrated by the fact that around 87% of the 71 bauxite intercepts were classified as high...
Japan, Australian Stock Futures Rise as U.S. Retail Sales Boost Exporters
Japanese and Australian stock futures rose after U.S. retail sales increased by the most in four months, boosting the earnings outlook for Asian exporters as concern eased that the world’s largest economy may stall. American depositary receipts (ADRs) of Alumina Ltd. (AWC), a partner in the largest...
Australian Business News - Aug 12
News Corp yesterday announced plans for a massive share buyback over the next 12 months as it continues to struggle with undervalued stock. Alumina has recorded a 254 per cent increase in underlying earnings to US$78 million, with margins growing by US$21 a tonne. However, the results were still...
Costs blowout takes shine off Alumina result
ALUMINA shares slumped yesterday after the company missed analysts' first-half profit forecasts because a rising Australian dollar pushed up costs higher than expected.
Australia Stock Market Report - CLOSE - 08/11/2011
It was another interesting session on the Australian share market, as investors reacted to fresh sovereign debt worries out of Europe and a surprise rise in the local unemployment rate. The All Ordinaries Index (XAO) fell 1.5pct on open, outperforming near 5pct losses witnessed on Wall Street...
Aus shares erratic in choppy trade
Following steep falls in offshore markets, we've seen some choppy trade on the Australian share market today. The local bourse dropped at open, erasing around half of yesterday’s gains, but bounced back onto positive ground after the release of key local jobs data. However, we’re now back in the...
Rio Tinto Alcan Weipa bauxite mine expansion a boon for Far North
THE $1.5 billion Rio Tinto Alcan bauxite mine expansion at Weipa has wide reaching economic, employment and export benefits which have been underestimated by the business community.
A'Beckett Tower completed with Australian Aluminium Finishing powder coat finishes
Australian Aluminium Finishing recently powdercoated over 300 screens and panels for the award-winning A’Beckett Tower.
Rio Tinto updates aluminum production on H1 2011
The expansion of the Yarwun alumina refinery in Queensland from 1.4 million tonnes to 3.4 million tonnes per annum is proceeding on schedule with first bauxite to be processed through the expanded plant in mid 2012. The expansion will improve cost efficiency for the entire refinery and is expected...
Rio Tinto updates aluminum production on H1 2011
Rio Tinto updates aluminum production on H1 2011. The Aluminum group’s underlying earnings of USD 379 million were 4% higher than H1 2010. This was principally as a result of higher exchange traded aluminum prices which increased earnings by USD 661 million compared with H1 2010. This was partly...
Rio Tinto, Mitsubishi Corp. Offer $1.55 Billion for Rest of Coal & Allied
Rio Tinto Group, the world’s second- biggest mining company, and Mitsubishi Corp. (8058) offered A$1.49 billion ($1.55 billion) for the shares in Coal & Allied Industries Ltd. (CNA) they don’t own to take the coal miner private. Rio and Mitsubishi, which own stakes of 75.7 percent and 10.2 percent...
Rio tips further Kestrel blowouts
RIO Tinto has flagged cost overruns and delays at its Kestrel coking coal project in Queensland, over and above $US2.4 billion of Australian-dollar-induced iron ore and alumina project cost blowouts revealed in Thursday's first-half report. Of the blowouts, $US1.9bn was in the Pilbara, $US400...
Rio Says Rising Labor Costs, Australian Dollar Put Pressure on Expansion
Rio Tinto Group said rising labor costs and the Australian dollar are hurting earnings and put pressure on expansion plans by the world’s second-largest mining company. “This is a challenge we’re going to face, not just this year, but in the coming years,” Chief Executive Officer Tom Albanese said...
Rio expects ballooning Kestrel costs: report
Rio Tinto has tipped cost blowouts and delays at its Kestrel coking coal project in Queensland, on top of the $US2.4 billion worth of Australian-dollar induced iron ore and alumina project expense increases, according to The Australian.
Rio Tinto posts record interim earnings on higher prices
Rio Tinto (LON:RIO) posted record first half earnings as the benefits of higher prices for its products more than offset the impact of adverse weather on its Australia alumina operations and lower group volume. First half to June underlying earnings soared 35 per cent to US$7.8 billion, with net...
Ecology Park planned for Kurri
Kurri has been announced as the site for what will be known as the Hunter Industrial Ecology Park to be developed by an alliance of companies including Weston Aluminium, Sims Metal, Renewed Carbon, Indeco, Energos and Dolomatrix. The proposal will see more than 15 companies co-locating to achieve...
