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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Queensland Bauxite buys into Mozambique coal licences
ASX-listed Queensland Bauxite on Tuesday announced that it would buy an interest in two Mozambique coal exploration licences in the Zambezi basin, close to majors such as Vale and Rio Tinto. The junior said it had signed a binding term sheet with Australian unlisted company Regius Coal Mining to...
Vedanta sources bauxite to restart alumina refinery
Vedanta Aluminium Ltd (VAL) Tuesday said it has received about 35,000 tons of bauxite from Gujarat to re-start its alumina refinery in Odisha'sKalahandi district at lower capacity. "We have started getting bauxite from Gujarat. We will build a buffer stock of at least one and half lakh tones of...
Vedanta project: Centre, state differ on holding gram sabhas in Niyamgiri
Differences of opinion continues between the Centre and the State Government over holding of ‘gram sabhas’ to decide on bauxite mining in Niyamgiri for the Vedanta project. While the State Government has maintained that it is not working to protect the interest of any private company, the Centre...
Worldwide mining projects exceed $1.5 trillion: Industrial Info
Worldwide mining projects are in the range of $1.5 trillion, market intelligence agency Industrial Info says in his recently released Global Mining Industry Outlook. Global demand for mined resources, including coal, iron, copper, gold and aluminum (via bauxite), has spiked over the past 10 years,...
Centre pulls up Odisha government for reluctance to hold gram sabhas, despite Supreme Court ruling
The Centre has raised concerns over Odisha government's reluctance to let all the gram sabhas in Raygada and Kalahandi districts decide the fate of Vedanta's alumina refinery and bauxite mining project in Niyamgiri as per the Supreme Court. Odisha government has told the Centre that it will conduct...
Centre terms state government's approach to Niyamgiri mining as "incorrect"
The Centre has told the Odisha government that it cannot take short cuts on the Supreme Court’s order to hold village meetings on Vedanta Aluminium's proposed bauxite mining in the Niyamgiri hills. The state government had told the tribal affairs ministry it would hold gram sabha or village...
Ghana’s bauxite exports soar
The export of bauxite by the Ghana Bauxite Company increased significantly by 88 per cent from 400,069 tons in 2011 to 752,771 tons in 2012. “The increase in volumes contributed to a significant increase in the corresponding mineral revenue by about 113 per cent from $13,406,433 the year earlier to...
Geoscientists support bauxite mining in Niyamgiri Hills
Criticising undue political interference and NGO activism, a Odisha-based geoscientists’ body favoured bauxite mining atop Niyamgiri Hills, saying it would in no way affect the lifestyle of tribals and their century-old socio-cultural and religious practises. “With adequate safeguards provided for...
High cost freight eats into Ghana's bauxite production
The deplorable state of the Western rail line remains a major problem for bulk producers of manganese and bauxite, forcing them to use costlier road transport to haul their minerals and equipment, according to Dan Owiredu, President of the Ghana Chamber of Mines. Speaking at the chamber’s 85th...
Amnesty urges holistic particpation for Vedanta mining project talks
International human rights advocacy group, Amnesty International, has urged the Odisha government to hold gram sabhas in all 80 odd Dongria Kondh Adivasi (Indigenous) and other Adivasi villages in Niyamgiri hills which are likely to be affected by bauxite mining for an alumina refinery of Vedanta...
Orbite Aluminae shares surge on deal with Glencore
Shares in Orbite Aluminae Inc. soared more than 25 per cent in heavy trading on news the company has locked up a buyer for all of its anticipated production of smelter-grade alumina at its Quebec plant. The stock rose to a high of 99 cents before easing back to 86 cents – up 16 cents on the day, or...
U.S., Guinea to work on transparency
The U.S. government said it will work with its counterparts in Guinea on transparency measures in the minerals and mining industry. Guinea is the world leader in the production of bauxite, an aluminum ore, and one of the leading producers of iron ore. The country's mining sector generates more than...
AV Birla, Coal India eye Rio Tinto assets
Coal India and Aditya Birla group are among a host of global companies that have shown interest in the assets put on the block by Rio Tinto in Australia. The Anglo-Australian mining giant is selling a 29% stake in its subsidiary Coal & Allied in the New South Wales province and its majority stake...
Ord looks to sell-off bauxite interests
Gold and base metals explorer Ord River on Tuesday announced that it would look to farm-out or divest of its Sarco bauxite and aluminium project, in Laos, in an effort to focus on its gold assets. The miner told shareholders that it was fully focused on becoming a gold producer within the next...
Aziana Limited acquires further bauxite acreage in Madagascar
Aziana Limited has extended the scale and scope its bauxite exploration project at Manantenina in Madagascar with the acquisition of additional exploration permits. The Soanomeiny blocks total 18.75 square kilometres and cover most of the area between the company’s Ampasimena and Esama Blocks,...
Nalco to add 1 MTPA capacity at Odisha alumina plant by 2016
Nalco will add an additional one million tons per annum (MTPA) capacity by 2016 to its existing 2.1 MTPA alumina refinery in Odisha for about INR 4,570 crore, a senior company official said. A draft of detailed project report (DPR) for the expansion of the alumina refinery has been prepared and it...
Indian Tribal Ministry objects to state move against SC order
The Union ministry of tribal affairs (MoTA) has objected to the Odisha government's decision to hold gram sabhas in only 12 villages of Niyamgiri hill slopes to decide the fate of bauxite mining for Vedanta Group’s alumina plant. In a letter to Odisha chief secretary BK Patnaik on Friday, the union...
Indonesia to fully acquire Inalum in October 2013
Minister of Industry MS Hidayat determined to resolve all problems in a mining company, PT Indonesia Asahan Aluminium (Inalum). He said the company would be converted into a state-owned enterprise in October 2013. “Government is currently negotiating to takeover Inalum from Japanese consortium,...
