Ashapura targets INR 100 billion bauxite revenue opportunity as Guinea volumes rise
Ashapura Minechem is preparing for its next phase of growth by expanding its Guinea bauxite operations while shifting its Indian business towards higher-value mineral products. The company is targeting 15 million tonnes of annual bauxite volumes by FY28, a level management believes could generate...
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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Alcoa to go for production cut, layoffs in the bauxite sector of Suriname
Desi Bouterse, the President of Suriname says Aluminum Company of America, (ALCOA) has plans of cutting down their production at Suralco that would result in lay off 1,000 workers which includes 800 contractors. Bouterse told Parliament that the issue is of "a national matter of concern for which a...
China Hongqiao will buy African Bauxite Company for about $120 million
China Hongqiao Group Ltd, the largest non-state producer of aluminium of the nation, has agreed to buy an African company developing bauxite deposits for approximately $120 million. Winning Logistics (Africa) Co. and Hongqiao signed an agreement to buy a not so popular company developing a mine in...
Queensland Bauxite expected to have a breakthrough in Australian bauxite
According to a report from Proactive Investors Australia, Queensland Bauxite expected to have a breakthrough in Australian bauxite. Queensland Bauxite has, over the past several months, been working away behind the scenes, building towards results that could catapult a $4 million microcap into...
Vedanta hopeful of state resolving bauxite issue
Vedanta Group chairman Anil Agarwal met Chief Minister Naveen Patnaik on Wednesday and sought his intervention in resolving the issue of supply of bauxite to Lanjigarh alumina refinery in Kalahandi district. “The Chief Minister assured us that the State Government is giving top priority to bauxite...
Share prices of Queensland Bauxite attracts price query
The shares of Queensland Bauxite rose 40% to $0.014, leading ASX to issue a query related to the price. The company said it had no clue about any unreleased information that could give an explanation regarding the increase in price since the close of $0.010 on May 23, 2014. However, it is expected...
Bauxite Supply crunch in China may cause export boom in Australia
Ian Levy, CEO at Australian Bauxite Limited is expecting that the loss of China’s largest bauxite supplier will mean big gains for Australian producers of bauxite. China, the biggest base-metal consumer, saw a plunge in bauxite imports after a January export ban by Indonesia in order to limit ore...
Bua Council to discuss Provincial projects
Development issues such as bauxite mining, the pine chips and the Dreketi/Nabouwalu Highway projects are expected to draw interest in the Bua Provincial Council meeting today. Assistant Roko Tui Bua, Jone Driu Drugunalevu said these major developments have increased employment opportunities in the...
Economist touts sovereign fund for bauxite earnings
Economist Dennis Morrison says Jamaica should consider developing a sovereign wealth fund seeded by bauxite royalties and taxes, should the sector regain vibrancy. His suggestion comes against the background of the dissipation of US$4 billion in earnings from the Bauxite Production Levy garnered...
Vedanta puts Lanjigarh alumina refinery expansion on hold
Vedanta Resources has put on hold a five-fold expansion plan of its Lanjigarh refinery in Odisha even as it is mulling sourcing bauxite from other sources away from Niyamgiri Hills to feed existing and future operations. “With regard to the expansion project at Lanjigarh, the company’s fresh...
China Hongqiao Eyes African Bauxite as Indonesia Supplies Dry Up
China Hongqiao Group Ltd. (1378), the nation’s largest non-state aluminum producer, is in talks to buy a bauxite mine in Africa to secure raw material. “We are looking to lock up resources in Africa and may make some concrete progress over the next six months,” Christine Wong, head of corporate...
Indigenous company gains ground in Arnhem Land mining bid
An Indigenous-owned company has come one step closer to developing a bauxite mining operation in eastern Arnhem Land. The Northern Land Council approved an exploration application from the Gulkula Mining Company, a subsidiary of the Gumatj Corporation, at its bi-annual meeting in Katherine this...
Bauxite experts not in favour of redevelopment plan at Reynolds mines
Bauxite industry experts have given thumbs down to the proposed redevelopment of Reynolds mines in St Ann for ore export and construction of a coal-fired refinery, saying it is likely to impact negatively on the tourism product, which now dominates the economy of Ocho Rios. Economist Dennis...
Odisha hopes to settle tax row with Nalco, SAIL soon
The Odisha government and two Central PSUs — National Aluminium Company (Nalco) and Steel Authority of India Ltd (SAIL) today agreed to resolve the dispute over tax arrears thorough mutual discussions in two months. The two Central PSUs had gone to court, challenging the power dues slapped on them...
Guinea mining license reviews deterring investors - minister
A review of mining licenses in Guinea, the world’s biggest bauxite exporter and home to the largest untapped iron ore deposit, is deterring investors in the West African country, according to its Mines Minister. “We are really eager to see this process completed very soon, because as long as it is...
Vedanta shelves Odisha bauxite mining plans till it wins local approval
Billionaire NRI Anil Agarwal-led Vedanta Resources has made it clear that it will not look at mining bauxite from the Niyamgiri hills to feed its Rs. 5,000 crore Lanjigarh alumina refinery in Odisha until it gets approval from the local community. "In deference to the sentiments of the community,...
Canyon Resources raising capital for bauxite exploration in Cameroon
Canyon Resources has agreed to raise up to $315,000 by way of a placement of shares to fund exploration at its flagship Birsok bauxite project in Cameroon. The 7 million new shares will be priced at $0.045, with free attaching options with an exercise price of $0.06 each and expiry date of 31...
Rio Says they would focus on their bauxite projects for investments
Rio Tinto Group plans to focus on bauxite investments from the coming year with the demand expected to rise in China. “This year we are focusing on continuing to pay down debt, to improve the strength of the balance sheet,” Chief Executive Officer Sam Walsh told reporters following the company’s...
Government and UC Rusal to conclude discussions on Bauxite Plants
Representatives of the world’s largest aluminum company UC Rusal, will be visiting Jamaica later this month to conclude discussions on the future of their operations at the Alpart and Kirkvine bauxite plants. Minister of Science, Technology, Energy and Mining, Hon. Phillip Paulwell made the...
