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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The concealed Bauxite resource of Australian Bauxite Limited at Inverell requires investigation
Sydney, May 8, 2012 (ABN Newswire) - Emerging bauxite exploration and development company, Australian Bauxite Limited discovered a thick layer of good quality bauxite in 2008-09 at its Inverell project in northern NSW (see Figure 1). Parts of that bauxite lie beneath a clay horizon and required...
Chinalco Mining Corp International to seek approval for an IPO
Chinalco Mining Corp International will seek approval from the Hong Kong stock exchange on May 17 for an IPO that could raise up to $1 billion, IFR reported on Wednesday. The company, a Peruvian copper mining unit of state-owned Aluminum Corporation of China, plans to start pre marketing the deal...
Odisha agrees to reserve Pottangi mines for Nalco on condition
The state government has agreed to reserve Pottangi bauxite deposit in Koraput district in favour of National Aluminum Company (Nalco) provided the company fulfills certain conditions. “The state government is willing in principle for reservation of Pottangi bauxite deposit area of Koraput district...
Nawailevu bauxite mine invests $34million to set up local operation
THE Nawailevu bauxite mine in Bua has invested about $34million ($US20million) into the economy to set up local operation, says mine manager Basilio Vanuaca. He said the mine was expected to excavate a million tonnes of bauxite over the next two years. The total cost includes assistance to the...
KediaCommodity offers Commodity Trading Tips for Aluminium
Aluminium yesterday traded with the negative node and settled -0.05% down at 109.8 declined to a two-week low after Socialist Francois Hollande was elected president of France, prompting concerns that austerity efforts may be derailed, and US payrolls rose by the least in six months. NALCO has also...
Chinese tycoons plan to take Guinea mine Simandou from Rio Tinto
A SECRETIVE group of Chinese tycoons is plotting to take away the world's largest undeveloped iron ore project from Rio Tinto. The swoop by China International Fund (CIF), set up by a syndicate of Hong Kong traders and Sonangol, Angola's state oil monopoly, is the latest turn in the fight over...
Australian Bauxite Limited (ASX:ABZ) Inverell Resource Grade Improvement - 38 Million Tonnes Resource
Emerging bauxite exploration and development company, Australian Bauxite Limited (ASX:ABZ) discovered a thick layer of good quality bauxite in 2008-09 at its Inverell project in northern NSW. Parts of that bauxite lie beneath a clay horizon and required further investigation. ABx conducts thorough...
Indonesia will proceed with a ban on exports of raw minerals
Indonesia will proceed with a ban on exports of raw minerals, with some exemptions for miners that plan to build local processing facilities, and will publish details of the rule May 6. “Miners will still be allowed to export after meeting some requirements, including obtaining permits, Edi...
Alcoa wins $12 million Cancer Lawsuit by miner
A jury has sided with aluminum producer Alcoa in a $12 million lawsuit filed by a former miner who blamed an aggressive cancer on hazardous substances the company dumped at a southwestern Indiana mine. The Vanderburgh County jury reached the verdict Tuesday after a more than two-week trial on Bil...
Habtoor Leighton Group wins USD 169 million contract from Ma’aden Alcoa Aluminium
Habtoor Leighton Group in joint venture with Dragados Gulf Construction Company / Intecsa Industrial (ACS Group), has been awarded a USD 169 million contract in Saudi Arabia for the construction of mine-related infrastructure for the Ma’aden Alcoa Aluminium joint venture’s bauxite mine. The project...
Steel, aluminium producers in Asia Pacific region to face weak profit rating over the next quarter
The profitability of steel and aluminium producers in the Asia-Pacific region will continue to weaken over the next quarter at least, even in a soft landing scenario for China, according to Standard & Poor's Rating Services. In a report entitled “Most Asia-Pacific Metal And Mining Companies Face...
Brazil ranked 3rd among the leading bauxite producers worldwide
Research and Markets has announced the addition of the "The Brazilian Bauxite Mining Industry to 2015: Market Profile" report to their offering. Brazil is ranked 3rd among the leading bauxite producers worldwide, the other leading countries being Australia and China. This report provides top-level...
Rio Tinto plans to seal its first Pacific Aluminium deal
By now Rio Tinto is well aware of what it’s like to own assets its register really wished it didn’t. Thankfully, a finish line appears in site for at least some of the Pacific Aluminium assets. Mining giant Rio Tinto hopes to seal its first Pacific Aluminium deal almost a year after quarantining...
Bauxite Resources confirms significant bauxite grade in Western Australian site
Bauxite Resources has confirmed significant bauxite grades and thicknesses over a large area of its southwest Western Australian tenement area. Preliminary view of the data in an exploration drilling program on private farmland north of Wundowie revealed bauxite grades with 55% of holes containing...
No guarantee for bauxite mine: Queensland Government
The Queensland Government says there's no guarantee a bauxite mine will be approved near Cape York following the overturn of the Wild Rivers legislation. ABC News reports QLD Natural Resources and Mines Minister Andrew Cripps said mining companies would still face strict regulations after Wild...
Miner Cape Alumina to move on Steve Irwin's land
BAUXITE miner Cape Alumina is preparing to mine the Steve Irwin Wildlife Reserve on Cape York after pre-poll promises by Queensland Premier Campbell Newman that he would repeal Wild Rivers legislation. Wilderness Society spokesman Glenn Walker said yesterday the company was moving to kick-start...
Noranda Aluminum profit falls on lower prices
Noranda Aluminum Holding Co (NOR.N) said first-quarter profit fell, hurt by lower aluminum prices and a drop in sales. Persisting global macro-economic concerns, particularly the European sovereign-debt crisis and fears of slowing economic growth in China, have dampened aluminum prices, the...
Chalco Buys Winsway Stake as SouthGobi Deal Stalls
Aluminum Corp. of China Ltd. isn’t letting its stalled takeover of SouthGobi Resources Ltd. stop its coal ambitions. On Monday evening, the company, also known as Chalco, said it would buy a 29.9% interest in Hong Kong-listed Winsway Coking Coal Holdings Ltd. for HK$2.39 billion (US$307.9 billion),...
