What happens when the world’s biggest bauxite supplier produces too much of the one commodity it dominates? Guinea’s bauxite market is offering a striking answer. Record exports have strengthened its position in global trade, but the surge in supply has also pushed prices lower. Australia,...
Imported bauxite prices in China moved slightly higher last week amid improved activity in the spot market. No trend-level shift emerged on the supply-demand side. Although rainy-season disruptions and elevated freight rates continued to weigh on Guinea's export volumes, the country's weekly...
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Aluminium settled down -1.49% at 98.85 tracking weakness from LME aluminium which ended down 2.2 percent at $1,473, having hit a month low earlier at $1,464 despite news that Malaysia is pushing to suspend bauxite mining due to concerns about its impact on the environment, threatening to interrupt...
Malaysian farmer Surin Beris’s palm plantation has been razed and bulldozers are tearing into its red soil, releasing potentially hazardous dust into the environment - yet he couldn’t be happier. Surin, 67, is reaping a windfall from a modern-day gold rush in Malaysia’s sleepy rural state of Pahang...
Aspiring exporter Australian Bauxite Limited (ABX) has clarified the real reason its maiden shipment from its first mine in Tasmania has been delayed for so long. Delays in winning shipping permits had previously been explained as the reason first exports from Tasmania's Bell Bay port were behind...
Noranda Bauxite Limited was able to eke out US$500,000 (J$60 million) of operating profit during the three months to September. The mining company generated US$33.5 million in sales during the quarter, or US$2.7 million higher revenue than year-earlier levels. This was primarily as a result of an...
Overwhelming price appeal made Malaysia overtake Australia as the top bauxite supplier to China during January-September period. Bauxite imports from Malaysia soared to 15.87 million tonnes (mt) during the first nine months 2015, surpassing 15.09 mt imported from Australia, showed customs data....
Malaysia replaced Australia as China’s top bauxite supplier in August due to its overwhelming price attractiveness. China imported 2.01 million tonnes of bauxite from Malaysia in August, 45% of total imports, customs data showed. Average CIF price of Malaysian bauxite was $ 45.65 per tonne in...
Fiji has exported $48 million worth of bauxite so far from the shores of Bua in the Northern Division. But the drop in global demand has affected export and slowed work progress at the mines this year. Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed although works continued, operations...
Following the Indonesian Bauxite ban in January 2014 high-quality bauxite stockpiles and reserves in China are being depleted, and China continues to look for new import markets. Towards the end of 2014 there was a substantial pick-up in Malaysian bauxite exports to China, with lower-cost product...
In the face of declining demand for bauxite, worldwide, a total quantity of 70,000 tonnes of the ore valued at about $1.4 million is reported to have been stockpiled at the Aurum Exploration (Fiji) Ltd in Nawailevu, Bua. Mr Derek Qiu, executive Aurum Exploration said about half of the mining...
Malaysia has replaced Australia as China’s top bauxite supplier, taking up 46% of China’s total bauxite imports in June. SMM’s attributes China’s growing appetite for Malaysian bauxite to its price appeal. Import price of Malaysia bauxite averaged $46.19 per tonne in June, 16.6% lower than...
Bauxite reserves in China’s Guizhou province grew for four years running, according to the Guizhou Land & Resources Department. Bauxite reserve base in the province hit 133 million tonnes as of the end of 2014, up 1 million tonnes from 2013. The number of small bauxite mines in Guizhou has...
China still favored Malaysian bauxite in April owing to its prevailing price appeal, Shanghai Metals Market understood. Malaysian bauxite was $ 10-11 per tonne cheaper than Australian and Indian ore at $ 46.66 per tonne, allowing its imports to grow 275,700 tonnes from March and 29.11% from a year...
GMDC or Gujrat Mineral Development Corporation engaged in exploration and development of mineral resources like bauxite rose 1.24% to INR 97.95 at 11:56 IST on BSE, after 0.44% equity changed hands in a bulk deal on the BSE on 8th May 2015. The stock had underperformed the market over the past one...
At the Public Accounts Committee (PAC) hearing, the Permanent Secretary (PS) for Ministry of Finance & Treasury (MoFT) of Solomon Islands has announced that the export duty on bauxite shipments will be raised by 20%. The statement was in response to the question posed by the Chairman Rick Hou...
Jamaican government and Noranda Bauxite Limited are at loggerheads as issues arise regarding payment of bauxite levy imposed by the government. The issue was revealed by Finance Minister, Dr. Peter Phillips on Wednesday, at the close of the budget debate in the House of Representatives. During the...
On Friday, the Parliament passed the much debated Mines and Minerals Development and Regulation (MMDR) Bill, 2015, a move that is expected to boost investments in the country. For the Indian economy to receive the much needed thrust forward, foreign investments are necessary and mining is a good...
In Jamaica’s Budget for the financial year 2015-16, the government will repeal the discount given on the bauxite levy and companies will now have to pay full amount. Dr. Phillips told the House that there has been a positive wave in the international market that has also boosted the price of...
Commodity trading figures for 2014 in China confirms a trend that shows higher import volumes as a result of low commodity prices. Key commodities showed a rise in imports due to falling prices. There are a few commodities in which cases both the volumes and prices went up and these according to a...
