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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Bauxite Resources pushes for mining leases
ASX-listed explorer Bauxite Resources on Tuesday told shareholders that it would push for the granting of three additional exploration licences, despite the Western Australian mining warden making recommendations that the licences be refused. In a June 15 statement, the mining warden suggested that...
Fijian Manager Praises China-Owned Mine
The China-owned bauxite mine in Nawailevu in Fiji's Northern Island has benefited the Fijian economy greatly by bringing in the much needed export dollars and providing jobs to local people, a local mine manager said Wednesday. Vanuaca Basilio, mine manager of the Aurum Exploration Fiji Limited,...
Hydro to fight against deforestation
As part of Brazil’s “Green Municipalities” program, Hydro is joining a project that will monitor deforestation throughout the Amazon region. Hydro’s bauxite mining operation in Paragominas signed an agreement June 18 with the Pará State Secretariat of the Green Municipalities Program and...
South-West bauxite mine bid gets thumbs down
A West Australia mining warden has recommended that a proposal to explore for bauxite south of Bridgetown, in the state's South-West, be rejected. Perth-based Bauxite Resources, which has been granted exploration licenses over 59 tenements in the South-West, said today its application for three...
Sesa Goa shareholders to vote on Sterlite merger
The shareholders of Sesa Goa Ltd, who will gather on Tuesday to vote on the company’s proposal to create a new merged entity Sesa-Sterlite, not only have to evaluate the merits of the split verdict of two proxy advisory firms but also the extent to which the recent acquisition of bauxite mines by...
Ghana’s Bauxite Under Threat
The operations of Ghana Bauxite Company are being disrupted as a result of the company’s inability to transport a chunk of its ore to the Takoradi Port. The deplorable state of the Western Rail Lines is negatively affecting the company, which is a major producer of bauxite in the country. Dan...
Ore export hit by Indonesia's new mining rules
Indonesia's new mineral ore export regulations have halted operations at hundreds of small mining companies, costing the country's export industry up to $164 million a month in lost nickel and bauxite sales, a mining industry body said on Friday. Indonesia in May asked all miners to submit plans to...
Aluminum Corporation of China to Acquire 60% of SouthGobi Resources for $926m
Aluminum Corporation of China Ltd., a subsidiary of Chinalco Aluminum Corporation of China (CHALCO), an aluminum exploration company, intends to make a proportional takeover bid to acquire all issued and outstanding shares of SouthGobi Resources Ltd., a coal production and Development Company from...
The bank may cut the value of BHP Billiton by $US2 billion
BHP Billiton may have to write $2 billion off the value of its aluminium assets as the global economy struggles, industry experts say. And more writedowns could follow if there is no let-up in the poor conditions buffeting the sector, they say. According to research published by Bank of America...
Bauxite shipments from Ghana slip by 22%
The amount of bauxite shipped out of Ghana in 2011 reduced significantly by 22%, the Ghana Chamber of Mines said in its latest mining sector report released June 6, 2012. The Chamber’s report indicated that 400,069 tonnes were shipped in 2011 down from 512,208 tonnes in 2010. As a result of the...
Gujarat Minerals to earn Rs 20 crore from bauxite sale to Anrak
Gujarat Minerals Development Corporation Ltd (GMDC) on Thursday said it has inked a pact of sale of non-plant grade bauxite with a Hyderabad-based company. This would make GMDC earn Rs 20 crore. GMDC, known for its multi-mineral and mining expertise, said it would provide bauxite from its Gadhsisa...
Yankuang Group Obtained Bauxite Mining Right
Recently, the GM of Shandong Yankuang Group attended ALUMINUM CHINA 2012 which was held in Shanghai and said that through acquisition and investment of 90% shares in Western Australia they’ve purchased the bauxite mining right of two companies. This bauxite occupied about 24,000sq.km. ore grade was...
HINDALCO to buy a stake in Colombian coal mines
The Aditya Birla Group is in talks with American thermal coal miner Drummond Company to purchase a significant stake in coal mines in Colombia owned by the privately held company. The Kumar Mangalam Birla-promoted group wants to strengthen its mining business and utilise the coal for its captive...
South African Oligarch proves to be a threat to Oleg Deripaska in Guinea
A group of South Africans, led by Tokyo Sexwale, has devised a scheme to take over mineral assets and mining concessions in the west African republic of Guinea, which the government plans to renationalize after revoking deals struck by previous Guinean governments. The Sexwale scheme is a growing...
Andhra govt cancels Bayyaram mining lease
The Kiran Reddy government on Monday decided to cancel the lease of Bayyaram iron ore mines spread across three mandals in Khammam district. Around 1.4 lakh acres of land was leased to a joint venture of AP Minerals Development Corporation Ltd (APMDCL) and Rakshana Steels for iron ore mining. The...
ReportReserve publishes new report in Metals & Mining Industry
ReportReserve’s new report, ‘Bauxite Mining Market in Europe to 2020 - Market Characterized by Increased Regional Demand for Aluminum Backed by Significant Reserves’ provides key information and analysis of the European bauxite mining industry, which consists of Russia and Greece. The report covers...
Anrak mining deal under CBI scanner
The CBI is investigating the orders for bauxite mining given by the YSR government to Anrak Aluminium Limited, a joint venture of the Penna Group of Ras-Al-Khaiamah investment authority, in Visakha-patnam and Vizianagaram. The CBI, which is investigating the case against Penna Cements that has...
Vedanta ties up with Larsen & Tourbo (L&T) to get rid of raw material crisis
Anil Agarwal of Vedanta has found an ally in Larsen & Tourbo (L&T) to bail himself out of the raw material crisis ailing his flagship Odisha aluminium project. The London-listed Vedanta, promoted by Agarwal, has entered into a tripartite agreement with L&T and its partner Dubai Aluminium Company...
