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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Nalco's bauxite mine renewal plan under Naxal threat
Nalco, till date, has mined only one third of the deposit to meet its requirement in the last 30 years The threat of Red rebels has cast a shadow of uncertainty over the renewal of National Aluminium Company's (Nalco) Panchpatmalli bauxite mines even as the company has intensified efforts to obtain...
Four firms interested to buy GMDC's bauxite calcination plant
As many as four companies have evinced interest in buying bauxite calcination plant run by state-owned mining major Gujarat Mineral Development Corporation (GMDC). The plant having a production capacity of 50,000 tonnes per year is located in Kutch district. The state PSU had floated tenders to...
SouthGobi Resources CFO quits
Mongolia-focused coal miner SouthGobi Resources on Monday said its CFO Matthew O'Kane had resigned, two months after it fired its CEO following Aluminium Corp of China (Chalco) dropping a $926-million bid and the company’s stock taking a beating since its mining licences were suspended in April....
Chalco still interested in copper project of Canada's Turquoise Hill Resources
Aluminum Corp of China Ltd (Chalco) is still open to buying into Mongolia's Oyu Tolgoi copper project from Turquoise Hill Resources Ltd (formerly known as Ivanhoe Mines), just two months after it backed out from the deal due to opposition from the Mongolian government. "If Rio Tinto and its...
BHP Billiton to sell stake in Guinea alumina venture
Mining giant BHP Billiton would sell its 33.3% interest in the Guinea Alumina joint venture (JV) to it partners for $1. Under the current project shareholders agreement, each of the JV partners – TSX-listed Global Alumina Corporation, Dubai Aluminium Company (Dubal) and MCD Industry Holding Company...
5 other areas identified for future bauxite mining in Fiji
Five other areas in the country have been identified for future bauxite mining. Mineral Resources assistant director Venasio Naisara said these areas are Nasorowaqa, Wainunu, Seaqaqa and areas between Lautoka and Ba. Naisara said from these areas, Chinese company Aurum Exploration Fiji Limited...
Nalco's Koraput bauxite mine may shut down soon
Public Sector National Aluminium Company seems to be heading for major crisis this month as the 30-year-old mining lease of company’s only bauxite mine in Koraput district is about to expire on November 16 with no signs of the lease getting renewed in the next couple of weeks. The central and north...
Weipa bauxite resource upgraded
High-grade bauxite deposits in western Cape York could become China's preferred source if plans to expand mining in the world-class Weipa province go ahead. Exploratory miner Cape Alumina has significantly upgraded its resources to 202 million tonnes, which is about half of its target. Despite...
Bua bauxite mining generated $10M so far
Approximately $10 million has been generated from the Bua bauxite mining so far. Mineral Resources assistant director Venasio Naisara said this is after five shipments of bauxite were shipped out to China by Aurum Exploration Fiji Limited. Naisara said mining has picked up very well given that it...
Guinea keeps growth forecast despite lower mineral output
Guinea will maintain its 4.8 percent growth forecast for 2012, 0.9 percent higher than the previous year, despite a sharp fall in gold, diamond and alumina production, a report by the finance ministry showed on Tuesday. The mineral-rich West African nation, which relies on mining for about 80...
Mines ministry moves note on HZL, Balco residual stake sale
Finance Minister P Chidambaram on Monday said the mines ministry had moved a note for the sale of the government’s residual stake in Hindustan Zinc Ltd (HZL) and Bharat Aluminium (Balco). The matter would go to the Cabinet and the finance ministry would give its views in due course, he said. And,...
Bauxite Resources Limited reports on its Quarterly Activities
Bauxite Resources Ltd, and its joint ventures has increased its overall JORC compliant bauxite resource base to 142.3 million tonnes with a new bauxite resource defined at the Bauxite Alumina Joint Ventures (BAJV) Cronus deposit approximately 15km east of Boyup Brook, Western Australia. This is the...
Newman pushes for Weipa bauxite mine expansion nod
Queensland Premier Campbell Newman says the Commonwealth is taking too long to consider a proposed bauxite mine expansion in the state's far north. Rio Tinto Alcan is seeking federal environmental approval for a $1.5 billion bauxite mine and port development at Weipa on western Cape York. The...
Gove alumina operations may close to cut costs
Operations at Rio Tinto's alumina facilities at Gove in the Northern Territory could be temporarily suspended. The ABC understands the mine operator, Pacific Aluminium, called a meeting with workers today to announce it is conducting a strategic review into the bauxite mine and refinery. The...
Bauxite unearthed in Queensland
Cape Alumina says it has now discovered an estimated 200 million tonnes of bauxite during exploration on Cape York in far north Queensland. The ABC reports the company holds exploration permits covering 1900 square kilometres in the western Cape region. "We've got an exploration target of 400...
Newman pushes for Weipa bauxite mine expansion nod
Queensland Premier Campbell Newman says the Commonwealth is taking too long to consider a proposed bauxite mine expansion in the state's far north. Rio Tinto Alcan is seeking federal environmental approval for a $1.5 billion bauxite mine and port development at Weipa on western Cape York. The...
Gove alumina operations may close to cut costs
Operations at Rio Tinto's alumina facilities at Gove in the Northern Territory could be temporarily suspended. The ABC understands the mine operator, Pacific Aluminium, called a meeting with workers today to announce it is conducting a strategic review into the bauxite mine and refinery. The...
Bauxite Angola looks for new shareholders
Mining company Sociedade Mineira de Investimentos Bauxite Angola is interested in the possibility of new shareholders, in order to boost its share capital, says mining engineer Guilherme António. Macauhub News Agency reports that António, who gave the information to Angolan news agency Angop, said...
