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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Opposition to protest against bauxite mining at Kimberley
Miners will be asked to relinquish leases on the Mitchell Plateau under the WA Labor's plans to establish national parks in the Kimberley region. If Labor wins Western Australia's March 9 state election, talks would begin with several companies that are exploring mainly for bauxite on the Mitchell...
Jamaica companies being downgraded over government debt swap deal
The New York-based Fitch Ratings agency announced today that it had downgraded the Clarendon Alumina Production Ltd's ratings on the basis of the Jamaica government debt exchange, which closes today. This follows announcements made last week by international insurance rating agency A.M Best that it...
Union Tribal Affairs Minister raises concern over mining in Visakhapatnam
Taking a firm stand against bauxite mining in tribal areas of Visakhapatnam, Union Tribal Affairs Minister V Kishore Chandra Deo has written a letter to the Mining Ministry for cancellation of all such licences in Andhra Pradesh. In a letter to Union Mining Minister Dinsha Patel on February 10, Deo...
Supreme Court of India reserves judgment on Niyamgiri mining case
The Supreme Court on Thursday concluded hearing in Niyamgiri mining case. But the court has reserved its judgment. The apex court has concluded hearing on Thursday. All parties have been asked to submit their written arguments by Monday. The court is expected to pronounce its order in few days,...
Alumina, nickel hit BHP profit
BHP's aluminium and nickel division recorded a widening loss of $US285 million in underlying earnings before interest and tax in the half - down from a $US66 million loss a year earlier - the worst performance of any division. Further, impairments of $US1.5 billion after tax against the Worsley...
China advances its way into the U.S.-Australia relationship
History and money link the U.S. and Australia but that’s not stopping China from shoehorning its way into the relationship at a business a level, as well as in laying the foundations for a push to replace the U.S. in a region it regards as its backyard and a critical supplier of raw materials. A...
Supreme Court recommends modern facilities for tribals in Odisha
The Supreme Court has sought the Centre's view on inclusion of tribal people in the mainstream, saying they should be allowed to choose facilities such as roads, schools, hospitals and electricity in the wider debate over preservation of their habitat. The remarks were made by a three-judge bench...
Odisha villagers propose to pay Rs 35 crore to government to halt Hindalco's bauxite mining plans
Villagers protesting against Hindalco's plan to mine bauxite at Mali Parbat in the Koraput district in Odisha have come up with a unique proposal that offers to compensate the state for its loss in revenue from royalty. Forty one villages from the district, two thirds of whose largely tribal...
Jamaican Government seeks retroactive protection for bauxite levy breach
Jamaican Government is to offer mea culpa to Parliament, before seeking support for a Bill to validate its actions pertaining to the misuse of funds accumulated under the Bauxite (Production Levy) Act since 1999. A Bill to this effect, titled The Bauxite Act, was tabled last week by Minister of...
Vedanta’s wait for Bauxite to get longer as environment ministry denies forest clearance
The environment ministry has defended in the Supreme Court its decision to deny forest clearance under the Forest Rights Act (FRA) to Orissa Mining Corporation's plan to mine the Niyamgiri Hills to source bauxite for Vedanta's alumina plant, while simultaneously leaving the door open for possible...
Fiji overtaking Indonesia as a source of China’s bauxite
It is estimated that China’s Bauxite mining will extend to the North of Nawailevu,Fiji.By this,mining tasks in this district has been finished,while Aurum Exploration Limited Co. has offered China the sixth lot of Bauxite recently.As the Minister of Department of Mineral Resource said,since the...
Government to cancel Bauxite mining lease to UAE firm
The Centre is set to cancel bauxite mining leases given to the a Middle Eastbased company in Andhra Pradesh's tribal-dominated Vishakhapatnam district for violating Forest Rights Act and provisions of Panchayat Extension to Scheduled Areas (PESA) Act. The move may have impact on mining operations...
Australian Bauxite granted a trading halt
Australian Bauxite has been granted a trading halt by the ASX pending an announcement regarding a proposed capital raising. The company recently declared a 3.5 million tonne maiden bauxite resource for its Mining Lease ML80126 in Queensland. This allows Australian Bauxite to define a resource size...
Rio Tinto reports 47 percent plunge in half-year underlying profit
World no.3 miner Rio Tinto reported a 47 percent plunge in half-year underlying profit on Thursday, its worst since 2009 due to sharp falls in commodity prices, although its new chief pointed to a pick-up in China as a positive sign. Chief Executive Sam Walsh was anointed last month when his...
Bauxite shares gain with appointment of new CEO
Shares in Bauxite Resources jumped on the ASX today after the Perth-based miner announced the appointment of former Sundance Resources executive Peter Canterbury as chief executive. Bauxite Resources chairman Barry Carbon said Mr Canterbury was the ideal choice to lead the company through its next...
Vimetco Bauxite Mining Company in Sierra Leone is showing positive changes
Since the South African management, headed by Theo Keyter took over the Vimetco Bauxite Mining Company, positive changes have started taking place in the company as confessed by the hitherto aggrieved workers and community people. I recently visited the company office at the Gondama Plant Site...
Rio Tinto will solve Mozambique logistics problem
Mozambique mining resources minister Esperança Bias says that Anglo-Australian mining giant Rio Tinto will be able to find a logistics solution that will allow it to export the coal it mines in the country’s Tete province. Following a valuation of its assets in Mozambique the group recently...
Japanese firm begins ‘rare earth’ mining in Jamaica
Nippon Light Metals has broken ground on its red mud pilot plant on the grounds of the Jamaica Bauxite Institute (JBI) in Hope Gardens, St. Andrew. For the next three months the Japanese aluminium firm will be extracting rare earth elements from Jamaica’s red mud as the focus of its US$3 million...
