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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Huge bauxite deposits lie unutilzed over India's East Coast region: blame the environment and the indigenous tribes
Despite having huge bauxite deposits, India is still lagging behind in aluminium production and consumption. The East Coast region, home to 74% of the total bauxite reserves, continues to be one of the most-neglected regions in the country, as not a single bauxite mine has been opened in the past...
Australian Bauxite makes “Better than the original” promise for bauxite mining
Any areas mined for bauxite around Taralga and Crookwell will be returned to a “better than the original”condition. This commitment was given at last Upper Lachlan Council meeting by Mr. Ian Levy, CEO of Australian Bauxite Limited, which is currently drilling over a wide area between Crookwell and...
Bauxite Resources detects new bauxite reserve at Ceres
Bauxite Resources (ASX: BAU) has identified potential for a major bauxite resource at the company’s Ceres Prospect in Western Australia’s southwest. A preliminary review of data collected in a 7,923.5 metre drilling program has been carried out, identifying thick, high grade bauxite close to the...
Mining sector declined in Venezuela
According to the Central Bank of Venezuela (BCV), the mining sector declined 3.2% compared to 2011 In a growing and expanding economic environment, Venezuela s mining activity fell 3.2% in the first quarter of the year, compared to the same period in 2011. Jorge Giordani, the Minister of Finance...
Indian miners's low cost structure helps survival
Commodities have borne the brunt of the Chinese slowdown and European politico-economic crisis. Prices of manganese, iron ore, zinc and aluminium have dropped 10-25% over the last one year, impacting companies that process or mine these metals. But Indian metals and mining companies may weather...
Chinalco Gets Nod for IPO
Chinalco Mining Corp., a unit of Aluminum Corp. of China, ACH -1.46% on Thursday received Hong Kong regulatory approval for its plan to raise up to US$1 billion in a Hong Kong initial public offering, a person familiar with the situation said Friday. The company plans to start gauging investor...
Nickel, gold and alumina royalties are expected to be $90 million higher in 2015-16
Nickel, alumina and gold producers face a $90 million hit following the State Government's move to revamp WA's royalty regime in yesterday's Budget. As base metals prices tank, the Government flagged a series of changes designed to lift royalty revenues back to their intended levels. Treasurer...
Iran to produce 400,000 tons of Aluminum
Iran is expected to produce 1.5 million tons of aluminum by the end of 'Vision 2025', said the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Vajihollah Jafari added the figure will exceed 400,000 tons in the current Iranian year (started March 20). He...
Andhra Pradesh Governor to cancel 10 bauxite mining leases
Andhra Pradesh Governor E S L Narasimhan is likely to use his special powers to cancel 10 mining leases issued for bauxite mining in Visakhapatnam district. The leases were issued between 2005 and 2009, and included areas in forests and tribal lands in Eastern Ghats and Aaraku Valley in Vizag. The...
Chinalco Hosts Seminar on Mining Technology and Bauxite
Chinalco hosted a seminar on mining technology and bauxite recently. Director of Chinalco Science and technology department Zhang Jilong attended the meeting. The recent tax imposition on Bauxite export by Indonesia is giving rise to many questions among the industry players of the Chinese...
Mongolia joins Indonesia in controlling its natural assets
Mongolia, the commodity-rich nation that posted the world’s fastest economic growth in 2011, is on course to pass a law by June that will bar foreign state-owned companies from controlling its key assets. The draft law, submitted to parliament two years ago, was accelerated after a public outcry...
Ma'aden Awards Bechtel Prefeasibility Study Contract for Copper and Zinc Smelter
The Saudi Arabian Ma'aden Aluminium Company has awarded Bechtel the prefeasibility study contract for its proposed copper and zinc smelter projects on the Saudi Arabian Gulf Coast. The multibillion-dollar projects are set to include the construction of two world-class smelters with an output of...
Andhra Pradesh govt gets special powers to cancel bauxite mining lease
Center takes keen interest on the issue of bauxite mining and the growing Maoist violence on the Andhra-Odisha border. For the first time, the Centre has urged the governor to use his special powers in Scheduled Areas to cancel bauxite mining leases given in Andhra Pradesh's Vishakhapatnam...
Orbite Appoints Michael Hanley and Jean-Sebastien David to Its Board of Directors
Orbite Aluminae Inc (the "Company") is pleased to announce two new appointments to its Board of Directors, adding Michael Hanley and Jean-Sebastien David as independent Board members. These appointments take effect immediately. "These additions strengthen the Board's governance and enable continued...
Vedanta loses out on safety
Vedanta gets involved in another controversy again as it loses on a safety award by UK on account of a death at the site. The British Safety Council on Monday announced the suspension of its 2012 International Safety Award recently conferred on mining major Vedanta Aluminium Limited's Lanjigarh...
Tajikistan mining to benefit from World Bank Grant
World Bank decides to boost the mining industry in Tajikistan, which has unexplored resources of coal, gold, silver, antimony and coal stands. The country is going to benefit immensely from a US$ 10 mnWorld Bank grant provided as part of Tajikistan Private Sector Competitiveness Project. The World...
Bua leaders to discuss on bauxite mine
TRADITIONAL leaders in the district of Wainunu in Bua will meet next month to discuss the options of having a bauxite mine in the area. Tui Wainunu Ratu Orisi Baleitavea said the idea was a good one because it provided employment and income-generating opportunities but certain issues needed to be...
India’s Mine Hunt overseas not bringing positive results
India’s ambition of becoming the next China has one major hindrance: lack of raw materials. Industrial activity hinges on availability of steel, aluminum, copper and coal to build cars, machines and run power plants. But the country’s ability to increase output of these commodities is restrained by...
