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...
Grow with
AL Circle
Rio, Alcoa win two-year extension on their bauxite alumina project
Resource giants Rio Tinto and Alcoa have won a two-year extension on their plans to develop a massive bauxite deposit and alumina smelter in the Kimberley, despite Premier Colin Barnett casting doubts on the venture. Earlier this month Mr Barnett suggested the remote, costly, project was unlikely...
Hindalco’s good days to return with the commencement of Mahan smelter and Utkal alumina refinery
With the commencement of Mahan smelter and Utkal alumina refinery in nearly three months' time, worse days for Hindalco seem to be over. The management of the company expects the Mahan smelter to start production by March, 2013. The commencement of production will help in generating cash inflows...
Work on GMDC-Nalco aluminium plant to kick off in April
State-run firms Gujarat Mineral Development Corp Ltd and National Aluminium Co Ltd are expected to begin construction of their Rs 15,000-crore (Rs 150-billion) aluminium plant joint venture in Gujarat's Kutch in four months. The companies have signed a primary agreement to value-add bauxite and...
Vedanta unlikely to begin operations at Lanjigarh Refinery in near future
The country’s largest aluminium maker Vedanta Aluminium is unlikely to start operations at its Lanjigarh unit in the near future as it is yet to secure bauxite supply to run the plant. “It is very difficult to give a timeline. Unless we get secured source of supply of raw material, we will not be...
Australian Bauxite Limited establishes virtual data room
Australian Bauxite Limited has established a virtual data room in response to approaches made since its declaration of three State-Significant Projects. All participants have been afforded equal access, based on their commitment level, commencing with execution of a confidentiality agreement, and...
Vedanta Aluminium's trials with regulatory approvals continue
Earlier this month, Vedanta Group was forced to shut its one million tonnes per annum alumina refinery at Lanjigarh in Odisha’s Kalahandi district due to unavailability of bauxite, 15 years after state-owned Orissa Mining Corporation signed over its rights to mine bauxite in the Niyamgiri Hills to...
GMDC-Nalco plant construction by April
The Rs 15,000 crore aluminium plant's joint venture between Gujarat Mineral Development Corporation ( GMDC) and Nalco is progressing at a snail pace due to various issues including red-tape. It is finally expected to begin construction in four month’s time. VS Gadhvi, managing director, GMDC told...
Indian Govt to decide on Andhra Pradesh Bauxite mining
The Chief Minister Mr N. Kiran Kumar Reddy on Wednesday said that the state government would go by the Centre’s direction on the controversial bauxite mining issue. Mr Reddy was in Paderu on the third day of his tour of the district. Referring to the demand for cancellation of bauxite mining leases...
Shutdown in Visakhapatnam to protest bauxite mining
A shutdown was observed amid tension in the tribal areas of Visakhapatnam district Wednesday to demand that the Andhra Pradesh government should not allow bauxite mining. An all-party committee opposing the mining called for the shutdown to protest Chief Minister N. Kiran Kumar Reddy's visit to...
Antam picks Sumitomo for $145m power projects
Mining company PT Aneka Tambang, known as Antam, has given the Japanese Sumitomo Corporation the task of working on the development of coal-fired power plants, which forms part of the company’s modernization work on its ferronickel factory in Pomalaa, Southeast Sulawesi. Antam is also in the...
Trouble brews for Utkal alumina project as locals raise new demands
Even after 20 years and investments of over Rs 5,000 crore, the 1.5-million-tonne alumina refinery project of Utkal Alumina International Ltd (UAIL), a subsidiary of the Kumar Mangalam Birla’s Hindalco, is yet to see the light of the day. As the company gears up to give a final push to complete the...
Bauxite team formed in Bua for evacuation assistance
The bauxite mining company in Bua has set up a team to assist government officials with evacuation and clearing of roads when Tropical Cyclone Evan hits us this weekend. Mine manager Basilio Vanuaca said work at the site had been shelved until TC Evan passes. "The only people at the mine site are...
NALCO resumes operations at bauxite mine
State-run National Aluminium Co (NALCO) resumed operations at its bauxite mine in eastern India after getting a temporary one-year permit, nearly a month after it was shut, a senior company official said on Tuesday. The operation at Panchpatmali mine in the Koraput district of Odisha, which has a...
No retrenchment in Vedanta Lanjigarh refinery yet
The company’s bid to continue the refinery operation by sourcing bauxite from other states like Gujarat, Maharashtra, Chhatishgarh, Jharkhand and Andhra Pradesh was also thwarted by various logistic, regulatory and procedural issues. Even as Vedanta Aluminium Ltd (VAL) has shut down its Lanjigarh...
Vedanta chairman believes open mining policy can make India an economic powerhouse
For a country with one of the largest reserves of natural resources in the world, the transformational potential of India's resources sector is immense. The sector has the potential to add $1 trillion to the Indian economy that can substantially contribute towards much-needed investments in...
AMC Appoints Principal Financial Advisor
Alliance Mining Commodities Limited, has appointed HCF International Advisers Limited as Principal Financial Advisor to the Company. HCF’s mandate is to advise on the raising of equity and project financing to advance the development of the Project. Of particular focus for HCF will be the...
Tribal affairs minister against diluting FRA for mining projects in Orissa
Tribal affairs minister Kishore Chandra Deo has warned against dilution of the Forest Rights Act for faster approval to projects and has asked environment minister Jaynathi Natarajan to ensure compliance with law while diverting forestland for projects by the ministry's Forest Advisory Committee....
Thousands join rally as Vedanta mine ruling postponed
A rally of defiance was held at the foothills of India’s Niyamgiri Hills on Thursday, by thousands of tribal men and women, including the Dongria Kondh, who turned out to voice their unwavering opposition to Vedanta’s controversial mine. A final decision by India’s Supreme Court on the future of...
