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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First Bauxite Corporation announces non-brokered private placement
First Bauxite Corporation announces that the Company is proceeding with a non-brokered private placement to Resource Capital Fund V LP for 40,000,000 common shares at a price of $0.125 per common share to raise total proceeds of $5,000,000. The Company anticipates that the Private Placement will...
Rio puts its Queensland bauxite project on hold
In a move that marks a fresh setback for Queensland's mining sector, Rio Tinto has told contractors in the state that it has put its $1.4 billion South of Embley bauxite mine on hold for as long as 18 months, according to The Australian Financial Review. The mine and port project had been approved...
Cape Alumina considers options after Cape York bauxite project gets suspended
Cape Alumina says it is trying to shore up its other mining interests in Queensland after the State Government scuttled its billion-dollar bauxite project on Cape York in the far north. A mining ban over the Steve Irwin Wildlife Reserve has forced the company to suspend all operations at Pisolite...
Federal Coalition MP calls mining ban at Cape York "appalling decision"
Federal Coalition MP Warren Entsch has hit out at the Queensland Government for jeopardising a major mining project on Cape York in the state's far north. Mr Entsch, the Member for Leichhardt, says the Queensland Government has made an "appalling decision" by banning mining on the Steve Irwin...
Cape Alumina affected by Queensland decision, MetroCoal merger deal called off
ASX-listed Cape Alumina has halted work on its Pisolite Hills mine and port project, in Queensland, while a proposed merger with MetroCoal has also been called off. Earlier this week, the Queensland government announced plans to declare the Steve Irwin Wildlife Reserve and the Wenlock river on Cape...
Legal experts favour L&T, Vedanta JV on bauxite mining
Vedanta’s bid to secure alternate bauxite supply for its Lanjigarh refinery through a joint venture with L & T has received shot in the arm with several legal luminaries ruling out any legal hurdle in realisation of the proposal. Vedanta had entered into JV with L&T, which held prospecting licence...
Bosnia's Boksit signs bauxite delivery deal with local producer Alumina
Bosnian diversified company Boksit has signed a 31 million marka ($21.3 million/15.8 million euro) deal with local aluminum producer Alumina for the delivery of bauxite next year, local media said on Friday. Boksit will also intensify its activities to open new ore deposits as a basis to implement...
Queensland government to protect Steve Irwin reserve in Cape York from mining
The Queensland Government has announced the Steve Irwin Wildlife Reserve and the Wenlock River in Cape York will be protected from open-cut and strip mining. The area is the first to be named a "strategic environmental area" under the Regional Planning Interests Bill to go before Parliament today....
Rio Tinto sells down stake in Constellium NV
Rio Tinto Ltd , one of the world's top mining companies, has sold most of its stake in aluminum products maker Constellium NV for about $330 million, according to a regulatory filing on Monday. Rio which had a 28 percent stake, sold 19,316,355 shares of Constellium on Nov. 14 at a price of $17 per...
Rio celebrates 50 years of Weipa mine and 500 million tonnes of bauxite shipped
Rio Tinto Alcan invites Weipa residents to its final community forum for the year, and to join in celebrating 50 years of operating and 500 million tonnes of bauxite shipped. Rio Tinto Alcan Weipa general manager, Operations, Gareth Manderson said this is the third year these mine tours have been...
Nalco temporary mining permit extended for 3 months
The Union Ministry of Environment and Forests (MoEF) has extended the one-year temporary working permit (TWP) of aluminium major Nalco for three months for operating the central and north block of Panchpatmali mines at Damanjodi in Koraput district. The Union Ministry of Environment and Forests...
Collector issues guidelines for bauxite mining trucks in Goa, India
South Goa collector N D Agrawal has issued an order with regards to regulating the movement of bauxite laden trucks from Shakti Bauxite mine at Naquerim, Betul, to the MPT harbour in Vasco. The order mandates that "one truck shall be allowed to come out from the mine in two minutes, in other words,...
Vale completes sale of Norsk Hydro stake for $1.8 billion
Vale SA (VALE), the world’s biggest iron ore exporter, completed the sale of all of its 22 percent stake in aluminum-maker Norsk Hydro ASA (NHY) for $1.82 billion after an over-allotment option was exercised. Vale sold the additional 40.7 million Hydro shares for 25 kroner ($4.04) each, the Rio de...
Queensland Bauxite discovers bauxite field at South Johnstone, Queensland
Queensland Bauxite looks set to trade higher after a further study of South Johnstone in Queensland indicates a bauxite field outside areas with known environmental issues. Extensive drilling and XRF testing has shown half of the 61 shallow holes to be relatively enriched in alumina and depleted in...
Maaden to start producing bauxite from Q2, 2014
Saudi Arabian Mining Co. (Ma'aden) expects to start producing bauxite from a new mine in the second quarter of 2014, a company executive said on Wednesday. Ma'aden and U.S. partner Alcoa are developing a mine with the capacity to produce 4 million tonnes per year of raw material for their new...
Nordic Mining ASA updates time schedules for the Engebø measuring results and the alumina project
Det Norske Veritas will collect data from the 11 metering stations next week (week 46), expecting start-up on Monday 11 November 2013. Nordic Mining's first reporting of results from the measuring will be published in week 47. The 11 metering stations are currently recording parameters like...
Alternative bauxite supplies continue to elude Vedanta
Vedanta Aluminium Ltd's (VAL) hope to source bauxite from Sijimali and Kutrumali mines in south Odisha's Rayagada and Kalahandi districts has hit a legal roadblock. Engineering giant L&T had originally obtained prospecting license (PL) over the two deposits. The grant of ML was expected to come to...
Rio Tinto and Chinalco to explore technology partnership
Rio Tinto and Chinalco will explore a partnership to bring forward the next era of mining technology aimed at delivering significant value and re-shaping industry best practice. Rio Tinto chief executive Sam Walsh and Chinalco president Sun Zhaoxue captured their intent in a Memorandum of...
