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...
Grow with
AL Circle
Rayagada tribals up against mining by Utkal Alumina
Tribals from Rayagada's Kashipur block have vowed to stop Utkal Alumina International Limited (UAIL) from mining at Baphlimali hills alleging that the company has backtracked on its promises. "The company promised to bring about all round development of the affected villages and started...
Ghana’s Opposition Plans to develop New Aluminum industry to utilize its bauxite resources
Nana Akufo-Addo, the main opposition presidential candidate in Ghana, pledged to develop a “multi-billion dollar integrated aluminum industry” and attract investment into bauxite mining. “We will use a similar model to exploit our iron-ore deposits and build urgently a new iron and steel industry...
Bauxite lobbyists accuse MLA Terry Redman of failing to protect land from bauxite mining
An anti-bauxite mining lobby group has accused Blackwood Stirling MLA Terry Redman of failing to protect the Warren Blackwood area from the threat of bauxite mining. The Bauxite and Alumina Action Group claimed Mr Redman and other Nationals’ ‘‘apathy’’ towards possible bauxite mining in the region...
Mahanadi Coalfields blames Nalco for irregular coal lifting
Mahanadi Coalfields Limited (MCL), which feeds the captive power plant (CPP) of National Aluminium Company (Nalco) here, has blamed the aluminum major for its failure to ensure regular supply of rakes to lift coal and maintain adequate stock during the lean monsoon season. MCL said, it had sent...
Rio Tinto not tempted by cheap mining assets
Valuations of mining assets are well down from recent peaks, but don’t expect Rio Tinto to be out and about among the bottom fishers. Analysts who sat down with Rio Tinto CEO Tom Albanese at a roundtable this week came away with the impression that the Anglo-Australian miner is keeping its purse...
Chalco expected to drop its takeover bid for Mongolia’s SouthGobi Resources
It is expected that the state-owned Aluminium Corp of China Ltd, or Chalco, will drop its takeover bid for Mongolia’s coal-producer SouthGobi Resources Ltd due to fierce resistance from the Mongolian government. In April of this year, Chalco offered $926 million for a 60 percent stake in SouthGobi....
Bauxite Angola plans to continue with Guinea Bissau projects
Bauxite Angola has informed the Guinea Bissau government that it is available to re-launch its mining project in the south of the country and continue with construction of the deep water port in Buba, the Angolan company’s assistant communications director said in Bissau Tuesday. At the end of a...
Mongolian government suspended SouthGobi's mining license on Chalco's takeover bid
Chalco’s $925-million (U.S.) offer for a 60 per cent stake in SouthGobi in April produced an unfriendly response: a new investment law limiting foreign companies to 49 per cent ownership of mines. More insidiously, Mongolia has dragged its feet over renewing some of SouthGobi’s licences, scaring...
Tribal protest halts Hindalco's bauxite mining at Mali Hill, Odisha
The bauxite mining operation in Mali Hill in south Odisha’s Koraput district by Hindalco Industries has been stopped due to the agitation by the local tribal people. Taking up cudgels under the banner of Mali Parvata Surakhya Samiti (MPSS), the tribal people of the area have launched an agitation...
Rio Tinto advances Diamond assets sales as Aluminum Plan Stalls
Rio Tinto Group, the world’s third- largest mining company, said its plan to sell diamond assets is “well advanced,” while the divestment of aluminum operations has stalled after prices for the lightweight metal fell. Rio is “looking at multiple options” for its diamonds division, Chief Financial...
China alumina producers eye Indonesia for supply
Three of China's biggest alumina producers are planning to invest at least $1 billion into bauxite mines and refineries in Indonesia to guarantee supplies of the aluminium raw materials under threat from new export taxes and a 2014 export ban. The plans are among the first signs that Jakarta's...
Rio Tinto to release more Aluminum Assets and Diamonds business
Rio Tinto PLC (RIO) continues to look at ways to exit some of its aluminum assets and its diamonds business and has had interest from potential buyers in individual operations as well as collectively, the mining giant's chief financial officer said Wednesday. Guy Elliott during a conference call...
Rio’s first-half profit drops 22%
Rio Tinto Group (RIO), the world’s third- largest mining company, said first-half profit dropped 22 percent after prices for iron ore, copper and aluminum fell and costs gained. Net income declined to $5.9 billion from $7.6 billion a year earlier, London-based Rio said today in a statement. That...
Suriname bauxite company in debt
Bauxite mining company Suralco is in the red and needs to change its policy drastically to be able to compete on the world market. Production costs have to be cut, but although this may look like a difficult task, it is not unachievable, says the new Managing Director Ruben Halfhuid. He is ready...
Chalco to make takeover bid for for SouthGobi Resources
Chalco has decided to extend its offer for a majority stake in Mongolia-focused coal miner SouthGobi Resources for the second time, the Chinese aluminium giant said on Thursday, in the face of stiff political opposition in Mongolia. State-controlled Chalco will extend the time for it to make a...
Utkal Alumina to start bauxite mining in Rayagada
Utkal Alumina International Limited (UAIL), a bauxite mining and refinery project in Rayagada district, is expected to be operational soon. "The project is ready for commissioning and we are hopeful that it will be operational within the next six months," said Rajesh Kumar Jha, who took over as the...
QED Connect, Inc. to acquire Kyrzyg Alumina, an aluminum mining company.
QED Connect, Inc. today announced that it has entered into letters of intent (LOI) to acquire 100% of Terra Resources and Kuma Oil, both oil and gas companies, and Kyrzyg Alumina, an aluminum mining company. Terra, through its subsidiary company NV Alliance, has oil and gas rights in the Republic...
Bosnia alumina plant halts production due to gas supply cut
Bosnia's sole alumina plant, Birac, halted production on Wednesday after the Balkan country's main gas distributor cut supplies to the company over outstanding debts, Birac said in a statement. "Production at the Birac factory was completely halted after all gas reserves had been exhausted," the...
