Maaden secures $1b in oversubscribed financing as Saudi mining push accelerates
Saudi Arabian Mining Co. (Maaden) has secured USD 1 billion in inaugural international syndicated credit facilities, with strong demand from global lenders highlighting confidence in the company's expansion strategy and Saudi Arabia's broader mining ambitions. Maaden has secured USD 1 billion in...
Vedanta Aluminium veteran Rajiv Kumar joins Jindal Steel as COO
Vedanta Aluminium veteran Rajiv Kumar has been appointed Chief Operating Officer (COO) of Jindal Steel after completing a successful stint as Chief Executive Officer of Vedanta Aluminium. Kumar, who brings more than three decades of experience in the metals and mining industry, will now oversee the...
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Paulwell to make major bauxite announcement today
There are indications that a decision has been reached regarding the reopening of mining and refining operations at St Elizabeth-based alumina producers Alpart by UC RUSAL. In an advisory on Friday, the Mining Ministry says portfolio minister Phillip Paulwell is to provide an update of major...
Hindalco loses chance to acquire Mahan and Talabira coal blocks after reallocation
The recent reallocation of mines ordered by the Indian Government has dashed Hindalco’s hopes of bidding for the Mahan coal block to power its smelter as the Coal Ministry has specifically marked it for the power sector. Hindlaco had planned to use the coal from Mahan to power the Mahan Aluminium...
Saudi Arabia quickly emerges as a competitor in the aluminium industry
Saudi Arabia may have been late to build an aluminium industry compared with the other countries in the GCC, but it is now putting the finishing touches on an integrated production chain that surpasses anything else in the region. A $10.8bn aluminium complex is nearing completion at Ras al-Khair on...
Update: Bald Hill bauxite mine progressing well
Tasmania's struggling mining industry has received a boost, with civil construction work getting underway at a new bauxite mine in Tasmania's Midlands. There has not been a new bauxite mine in Australia for 35 years and the ore is in short supply worldwide. The mine's general manager, Rob Williams,...
The Bald Hill project fast tracks its operations
After receiving the approval of the Bald Hill project near Campbell Town earlier this month, the project has picked up speed as it initiates site mobilization. The company aims to get the $6-million-worth project into full production by July 2015 as they believe the low capital outlay and the short...
UC RUSAL announces acquisition of Timan bauxite 20% stake
UC RUSAL, a leading global aluminium producer, announces that it has completed a transaction with JSC “Fund for support of investment projects in the Republic of Komi” to obtain the remaining 20% stake in OJSC Boksit Timana (‘Timan’). Following the completion of this transaction, RUSAL now owns...
Dominican Republic's bauxite reserves to be searched for rare earth
Starting January, institutions like the National Geologic Service (SGN), the Higher Education Ministry and other universities from the US and Spain will be coming together to look for ‘rare earth’ ores in Sierra de Bahoruco in southwestern Pedernales province, as announced on Friday. Bauxite, which...
Bauxite transporters complain of partiality towards local truck-owners: Margaon
On Thursday, transportation of bauxite ore from the Naqueri plateau was disrupted as other ore transporters form Quepem, Salcete and Mormugao complained that there was a preferential treatment given to the local Fatorpa-Naqueri belt transporters, depriving the transporters from outside. The...
Ghana suffers as Canadian company ceases funding
Behind the rusting security gate at a secluded mine entrance, two flagpoles stand side by side. One flies the black star of Ghana while the other, which once carried the Canadian Maple Leaf, now displays China’s red ensign. Yet half a million Canadian foreign aid dollars, earmarked for communities...
“I as well as Vedanta’s Chairman Anil Agarwal share the same long term vision that everyone nurtures for India, that is, to be one of the most powerful economies in the world…” Tom Albanese, CEO, Sesa Sterlite.
Sesa Sterlite, a Vedanta Group company is a global diversified natural resource conglomerates, with operations across aluminium, zinc-lead-silver, oil & gas, iron ore, copper and commercial power. It was a privilege for AlCircle to speak to Mr. Tom Albanese, Chief Executive Officer and a director...
Saudi- Maaden increases investment in aluminium
The Saudi Arabian Mining Company (Maaden) is playing a key role by developing the mining sector as the third pillar of Saudi industry beyond oil and petrochemicals. Through its investments Maaden is turning the Kingdom into a major player in global markets for phosphate, aluminum, gold, copper and...
Fiji land minister confirms rehabilitation work at Nawailevu
As recommended by the Environmental Impact Assessment report, the Nawailevu Bauxite Mining site in Vanua Levu is going through rehabilitation works that is being carried out by the Aurum Exploration Fiji Limited. The Lands Minister, Mere Vuniwaqa has confirmed this in the parliament on Monday after...
Work set to begin on bauxite mine near Campbell Town in northern Tasmania
Work on a bauxite mine in Tasmania's northern midlands is expected to start next month. The Bald Hill bauxite project, near Campbell Town, has been approved by the Northern Midlands Council. It will employ 45 people and is expected to extract more than 1 million tonnes of bauxite over five years....
Rio Tinto makes a turnaround as aluminium division thrives
Rio Tinto's once-pilloried aluminium division could soon rank as the company's second-biggest earner behind iron ore, in what chief executive Sam Walsh has described as "a remarkable turnaround". The revival of a business that was a loss-making basket case barely two years ago was showcased in...
Indian Mining Ministry adds amendment to make lease renewal quicker
An amendment has been proposed by the Union Ministry of Mines which will allow applicants who are applying for a mining license renewal can move their plea to the Central Government if the State Government fails to respond on the matter within 60 days. The NDA government is trying to pass the Bill...
The Indonesia ban attracting upstream investments
The Indonesian constitutional court rejected the challenge raised by the mining companies regarding the country’s ban on raw materials export which was imposed in January. The ban on mineral ores imposed on 12th January was to channel investments in the direction of mineral processing in the...
Alcoa completes sales of two upstream assets
Alcoa today announced that it has completed two previously-announced sales within its Global Primary Products portfolio. The divestitures, one in the United States and the second in Jamaica, are aligned with Alcoa’s strategy to lower its cost base and create a globally competitive business. Alcoa...
Aziana Limited to dispose of asset
Aziana Limited has been granted an ASX trading halt in relation to a proposed asset disposal. The company has bauxite, copper and graphite mineral projects in Madagascar as well as working interests in oil and gas exploration and production leases in the Gulf of Mexico offshore Louisiana. In the...
