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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Rio Tinto Alcan CEO focusses on Alumina and Bauxite to help cut production costs
Rio Tinto Alcan, one of five operating groups operated by Rio Tinto PLC, is focusing its investment and development on bauxite and alumina, Jacynthe Cote, chief executive of Rio Tinto Alcan, said Tuesday at the American Metal Market Aluminum Summit. "Remember that it all starts with bauxite and...
Australian Bauxite gets result from drilling in Binjour Bauxite Project
Emerging bauxite exploration and development company, Australian Bauxite Limited has received laboratory and exploration results from drilling and surface exploration at its Binjour Bauxite Project in central QLD 133 holes drilled in 2012 have intersected a thick layer of bauxite located beneath a...
Resource Capital Fund completes $6m investment in First Bauxite Corporation
Resource Capital Fund V L.P. ("RCF") is pleased to announce that it has completed a subsequent $6m investment in First Bauxite Corporation (the "Company"). RCF has acquired 11,320,755 Units (each a "Unit") pursuant to a private placement by the Company at a price of $0.53 per Unit. Each Unit...
Andhra govt cancels Bayyaram mining lease
The Kiran Reddy government on Monday decided to cancel the lease of Bayyaram iron ore mines spread across three mandals in Khammam district. Around 1.4 lakh acres of land was leased to a joint venture of AP Minerals Development Corporation Ltd (APMDCL) and Rakshana Steels for iron ore mining. The...
ReportReserve publishes new report in Metals & Mining Industry
ReportReserve’s new report, ‘Bauxite Mining Market in Europe to 2020 - Market Characterized by Increased Regional Demand for Aluminum Backed by Significant Reserves’ provides key information and analysis of the European bauxite mining industry, which consists of Russia and Greece. The report covers...
Anrak mining deal under CBI scanner
The CBI is investigating the orders for bauxite mining given by the YSR government to Anrak Aluminium Limited, a joint venture of the Penna Group of Ras-Al-Khaiamah investment authority, in Visakha-patnam and Vizianagaram. The CBI, which is investigating the case against Penna Cements that has...
Vedanta ties up with Larsen & Tourbo (L&T) to get rid of raw material crisis
Anil Agarwal of Vedanta has found an ally in Larsen & Tourbo (L&T) to bail himself out of the raw material crisis ailing his flagship Odisha aluminium project. The London-listed Vedanta, promoted by Agarwal, has entered into a tripartite agreement with L&T and its partner Dubai Aluminium Company...
Fiji earns $20M from Bua Bauxite mining
$US20 million has come into the country of Fiji through the bauxite mining operation in Bua. Aurum Explorations Fiji Limited’s mine manager Vanuaca Basilio said this is in terms of taxes and wages paid to government and wages paid to the employees. He said $2.5 million has also been paid to the...
Ormet Announces $1.1 Million Quarterly Loss
Ormet Corp. posted a $1.1 million net loss for the first three months of 2012, but company officials spent $1.9 million during this time to reline 22 pots at the Primary Aluminum Reduction Plant. As Ormet gears up for the future, the company continues dealing with costs related to the restart of...
Alecto Minerals Releases Final Results and Notice of AGM
Alecto Minerals plc, the AIM listed multi-commodity exploration and development company with projects in Ethiopia, Mauritania, and an option over a highly prospective bauxite asset in Guinea, announces its audited results for the year ended 31 December 2011 and gives notice of its AGM to be held at...
Australian Bauxite Limited Completes Capital Raising
Australian Bauxite Limited advises that is has completed a placement of 4.3 million fully paid ordinary shares at $0.39 cents per share to sophisticated, eligible and/or professional investors, as defined under Section 708 of the Corporations Act (Placement). $1.67 million of additional capital was...
Australian Bauxite in voluntary suspension ahead of capital raising announcement
Australian Bauxite has gone into voluntary suspension ahead of an announcement regarding a capital raising. The company has not yet given any indication of the allocation of funds, but the company recently expanded the Pre-Feasibility Study (PFS) at the Goulburn Bauxite Project due to thick bauxite...
BHP may sell Guinea Alumina stake
BHP Billiton may sell its 33.3 per cent stake in Guinea Alumina, as its joint-venture partners seek ways to advance a multi-billion dollar project to mine and process bauxite in Guinea that has suffered repeated delays. It comes as BHP overhauls its international mining assets to focus on...
Bauxite Resources declares 73-million tons initial resource at its Felicitas project
ASX-listed Bauxite Resources has declared an initial resource of some 73-million tons at its Felicitas project, in Western Australia. The resource, which is less than 5 km from existing rail infrastructure, fell within the company’s bauxite alumina joint venture (BAJV) with Yankuang Resources....
Nalco likely to gain access to Orissa bauxite reserves
After waiting some 20 years, India’s largest integrated aluminium refiner, the National Aluminium Company Limited (Nalco), was likely to gain access to the 75-million tons of bauxite reserve at Pattangi, in Orissa. In a communication with the company, the government of Orissa indicated that it had...
NALCO gets nod for Rs 12,000-crore investment in Gujrat
Gujarat government, last week, Okayed the Rs 12,000-crore investment plan by National Aluminium Company in Gujarat to set up an alumina and smelter plant. The approval has cleared the way for Nalco and state-owned Gujarat Mineral Development Corporation to set up a joint venture, a senior official...
Stop bauxite mining to save eco-system, says expert
Ecological balance is crucial to sustainable development and unless the government and people themselves stick to stringent norms of not violating the eco-norms, it will be a planet difficult to live on said speakers at awareness programme for faculty members of PVP Institute of Technology. The...
Aurukun bauxite mine is open for lease
The lease for the Aurukun bauxite mine will be put on the market again but this time around the successful bidder won't have to build a new refinery. The tender for the new bauxite mine and alumina refinery had been won by Chinese company Chalco in 2007, but the deal folded in July 2011 because...
