Rio Tinto adds Aurukun's 8 tpa bauxite opportunity to growing Cape York pipeline
The acquisition gives Rio Tinto control of a major undeveloped Cape York resource as it expands its existing Weipa operations and advances new mining areas. Rio Tinto is expanding its Cape York bauxite portfolio by acquiring the Aurukun bauxite project from Glencore and Mitsubishi, adding a...
Metro Mining builds bauxite momentum with record output, lower costs and broader sales
Metro Mining's Bauxite Hills operation delivered record quarterly production as lower unit costs and a broader customer base strengthen its growth profile. Metro Mining is building momentum at its Bauxite Hills bauxite mine in Queensland, with record quarterly output, lower unit costs and improving...
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Hindalco jumps on hike in bauxite export duty
Hindalco Industries surged 3.63% to INR 172.50 at 12:40 IST on BSE as the finance minister in the Union Budget 2014-15 presented on 10 July 2014, announced increase in export duty on bauxite from 10% to 20%. Meanwhile, the S&P BSE Sensex was down 63.72 points or 0.25% at 24,960.63. On BSE, so far...
Sale of Jamalco part of global cuts being made by Alcoa
The plan by US-based Alcoa to divest its Jamaica operations forms part of its global transformation that will also see it slash production in Brazil and Australia, management indicated. It aims to contain costs which at times exceed revenues at the global company. "To further optimise the Alumina...
Rusal grab back a worthy idea
We can only assume that the Simpson Miller administration's notice of intent to rescind UC Rusal's bauxite mining concessions for two of its Jamaican alumina refineries - Alpart and Kirkvine - is a strategic move aimed primarily at enhancing its efforts at enticing Chinese interests to the sector....
India to increase bauxite export taxes to aid aluminum makers
India proposes to raise export duties on bauxite to help local aluminum producers, which are facing a shortage of the raw material because of mining curbs. Finance Minister Arun Jaitley proposed to double export taxes on bauxite to 20 percent in his budget speech to lawmakers in New Delhi today....
Bauxite Resources shares on the move
Bauxite Resources shares are now trading at $0.14, bringing gains for the past 6 weeks to 40%, following a resource upgrade at its Fortuna deposit in the Darling Range, Western Australia. The value of bauxite has increased substantially in recent times, spurred by the Indonesian export ban that has...
China’s bauxite imports plunge to 2.12 Mln tonnes in May on Indonesia’s export ban
China’s bauxite imports plunged to 2.12 million tonnes in May due largely to Indonesia’s export ban, Shanghai Metals Market understood. Imports of Indonesian bauxite tumbled 98.81% on a yearly basis to 45,000 tonnes in May, the major reason behind the 65.46% year-on-year slump in China’s total...
Pacific Road Resources funds announce exchange of convertible notes in First Bauxite Corporation
The Pacific Road Resources Funds ("PRRF") announce that PRRF has exchanged the non-interest bearing convertible notes ("Notes") issued by First Bauxite Corporation (the "Company") in the aggregate principal amount of $8,000,000, which were due to mature on June 26, 2014 and July 23, 2014, for...
Union Minister to work for setting up bauxite factory
Union Minister of State for Social Justice and Empowerment Sudarshan Bhagat has said he would make efforts in setting up a bauxite factory in Lohardaga. Lohardaga is rich with bauxite. I will try to bring bauxite factory in the district, Bhagat, who represents Lohardaga constituency, told reporters...
China turns to India, Australia to fill gap for bauxite
China’s imports of bauxite from India and Australia increased in May as buyers in the biggest consumer of commodities sought to fill the gap caused by Indonesia’s ban on shipments. Bauxite shipments from Australia rose 21 percent from April to 1.24 million tons. Indonesia accounted for more than 10...
Bauxite Resources CEO updates on where best to allocate shareholder funds
Bauxite Resources Video Q&A with Peter Canterbury CEO who explained that the company recently undertook a review to determine where best to allocate shareholder funds and have decided to pay a 4 cents per share capital return. After the AU$9.3 Million capital return, BAU retains AU$30 Million in...
Kerala govt says no to bauxite mining in the state
Kerala government has made it clear they haven’t changed their decision of not allowing mining of bauxite at Kadaladipara in Kasargod district. Replying to a submission in this regard in the Assembly, Industries Minister P K Kunhalikutty said necessary order in this regard would be issued. After...
Jamaica sells stake in bauxite operation to Rusal
Jamaica is selling its 7 percent stake in a bauxite refinery operation, the island's energy minister announced Tuesday. Energy Minister Phillip Paulwell told Parliament that the government will sell its $11 million stake in the West Indies Alumina Company, referred to as Windalco. It is located in...
Alcoa evaluating its Suriname bauxite operations
ALUMINIUM producer Alcoa says it is reviewing options for its Suriname bauxite subsidiary two days after the country's leader said the multinational was preparing to slash local operations. In a Thursday email, company spokeswoman Monica Orbe said Alcoa is working with the South American nation "to...
Rise in aluminum prices to prove unsustainable: analyst says
The recent rise in aluminum prices would prove unsustainable due to limited room for speculation and oversupply pressures, said Yang Xiaowu, General Manager at the Futures Department of China Aluminum International Trading in a statement made on May 29. LME aluminum prices rose from $1,754 per...
China’s stocks of Bauxite dwindle, chances of aluminium to rise
The mineral export ban imposed by Indonesia has come into effect since January while the effects seem to be quite apparent in Nickel market but haven’t affected the aluminium price. It may change soon. Despite the ban, the prices of aluminium have remained fixed in 2014. Indonesia accounted for...
SMM’s Analysis of bauxite imports in April 2014
China imported a total of 1.58 mn mt of bauxite in the month of April, down by 76.59% YoY. China Customs said, YTD imports through the month of April were 14.47 min mt, down by 29.92% YoY. There was no information about Indonesian bauxite arriving in China in April and Australian bauxite imports...
Indonesia Export Ban Could Bolster Aluminum ETNs
Indonesia’s export ban on raw ore sent nickel prices surging this year, but aluminum prices, along with related exchange traded notes, have been left behind. Now, some traders are pointing to potential opportunity in aluminum. From 2007 to 2013, Indonesia accounted for 60% of global exports of...
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...
