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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Tajikistan's economy grew 7.5% in 2012 despite slump in aluminium
Tajikistan said its economy grew 7.5 percent last year, slightly faster than in 2011 and buoyed by remittances from migrant workers and growth in its mining industry despite a slump in key export, aluminium. More than two decades after the collapse of the Soviet Union, Tajikistan, which borders...
Bauxite mining in Cameroon to start between 2018 and 2019
Negotiations for ore mining, says the source, "continued normally" between the government and Emirati companies Dubal (UAE, 45% of the capital), Hindalco (India, 45% of the capital) and Hydromine (United States, 10% of the capital). The government has awarded two exploration licenses to operators...
Apex court defers hearing in Niyamgiri mining case
Vedanta Aluminium (VAL), a unit of Vedanta Resources, will have to wait for two more weeks after the Supreme Court on Monday deferred the hearing on Niyamgiri bauxite mines in Odisha's Kalahandi district. The apex court deferred hearing for two weeks due to non-submission of affidavit by the Union...
Chinalco Mining offers investors exposure to Peru
The initial public offering of Chinalco Mining Corp International will give investors an opportunity to gain exposure to the highly prospective but also risky business of mining in Peru. Metals mining investors are facing the dilemma of having to pay a premium for assets in more stable nations such...
Centre to clear stand on Vedanta mine
The Environment and Tribal Affairs ministry will clear their stand on the Vedanta mining case in Supreme Court on Monday. The verdict on the mining project in Odisha is crucial as it will undoubtedly play a key role in deciding the fate of several other projects that need forest lands under the...
Hindalco to acquire Novelis' alumina refinery in Brazil
Hindalco Industries, the metals flagship of the Aditya Birla Group, today said it has finalised arrangement for acquiring alumina refinery and bauxite mines in Brazil from its wholly-owned subsidiary Novelis as part of corporate reorganisation plan. "Hindalco Industries has finalised its...
Xinfa Group to build integrated aluminium plant in Southwest China
Shandong Xinfa Group plans to build an integrated aluminium production plant in Guizhou Province in Southwest China. The new facility will be located in Daozhen County and will include power generation, bauxite mining and aluminium smelting. Daozhen is said to have over 300Mt of bauxite reserves...
Income of BHP Billiton’s two aluminium smelters could fall by $500m in half-year to June
The income of diversified miner BHP Billiton’s two aluminium smelters could fall by about $500-million in the half-year ending June, credit solutions provider Coface South Africa risk analyst George Marais tells Mining Weekly. South Africa’s only two primary smelters, controlled by BHP Billiton and...
Vedanta's plan to buy govt’s stakes in HZ and BALCO may delay due to to pending parliament’s approval
Billionaire Anil Agarwal’s plan to buy India’s stakes in units of his Vedanta Group may falter as the government insists on parliament’s approval for the deal, according to three people familiar with the decision. The law ministry ruled that lawmakers have to agree to the sale, a process that could...
Rio Tinto CEO steps down after taking a $14bn charge
Global miner Rio Tinto has announced the surprise resignation of its chief executive Tom Albanese after taking a $14bn (£8.75bn) charge in connection with the company's Mozambique coal and aluminium acquisitions. A mining veteran, who joined Rio two decades ago, Albanese will be replaced by iron...
Gas plan for Gove Refinery to cost taxpayers $900m
Rio Tinto says it is too expensive to keep using heavy fuel oil as a power source and has threatened to shut its alumina refinery on the Gove peninsula, 600km east of Darwin. Rio's subsidiary Pacific Aluminium wants taxpayers to provide a $900 million gas pipeline over 600km from Katherine to Gove....
Rare-earth elements found in Jamaica's red mud
Jamaica may be able to benefit from newly found deposits of rare-earth elements that are key ingredients for smartphones, computers and numerous other high-tech goods, the Caribbean island's top mining official said Tuesday. Science, Technology, Energy & Mining Minister Philip Paulwell said...
Chinalco Oversea Mine Delivered First Batch of Bauxite
Chinalco Indonesia joint venture owned mine delivered first shipment of 57 thousand tons bauxite and the stock has reached Port of Rizhao. It is learned that Chinalco Hongkong Company work together with Indonesia joint venture finished all procedures of bauxite export on 14th December, 2012. The...
Indian Mine Minister says GoM will take decision on Nalco divestment
Union Minister of Mines Dinsha Patel said that Union Group of Ministers (GoM) will take decision on Nalco divestment. Patel said that the government is yet to take a final call on stake dilution as the Empowered Group of Ministers (EGoM) assigned to take the call has deferred the decision due to...
House panel urges for cancelation of bauxite mining leases in Vizag, India
The Petitions Committee of the Legislative Assembly has recommended scrapping of the memorandum of understanding entered into by the State government for bauxite mining in Visakhapatnam district with the Emirate of Ras al Khaimah (Anrak) and Jindal South West Holdings Limited. The committee headed...
Bauxite mining near Karalapat Sanctuary opposed
Close on the heels of the State government’s move to arrange dedicate supply to bauxite to Vedanta Alumina Limited’s Lanjigarh refinery near Karlapat sanctuary, activists have registered strong protest saying rich biodiversity of the place would be lost if mining is allowed there. Addressing a...
Anglo Aluminum Gets Extension for Koba Koumbia and Renewal for Mamou-Dalaba Bauxite Interests in Guinea
Anglo Aluminum Corp. reports that the Minister of Mines and Geology of the Republic of Guinea, West Africa, has granted, on December 26th, a one year extension to the Koba Koumbia permit held by Anglo's 51% owned subsidiary Amig Navasota Mining International SARL . The permit, comprising two...
Bauxite company to supply to alumina factory Birac
”Boksit” company from Milici will start the production and ore shipments to alumina factory ”Birac” in Zvornik, and the removal of overburden will start later, due to weather conditions. Despite the crisis, the expectations are great for this year, since ”Boksit” is organizationally,...
