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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India's NALCO targets 8 pct rise in 2012/13 revenue
India's state-run National Aluminium Co Ltd (NALCO) is targeting revenue of 70.73 billion rupees ($1.41 billion) for the next fiscal year, about 8 percent higher than the current year's target, the company said in a statement. NALCO, India's third-largest aluminium maker, on Monday signed a pact...
Massive bauxite deposits spark fear of open cut mining
THE POSSIBILITY of open cut mining of bauxite in the north-eastern parts of Upper Lachlan Shire could pose problems for landholders in the area, and Council should prepare for such a situation. At last week’s Council meeting Council Cr. Malcolm Barlow gave notice of motion that a development...
Nalco turnover targeted at Rs 7,073 cr in 2012-13
National Aluminium Company Limited (Nalco) has signed a Memorandum of Understanding (MoU) with the Union ministry of mines on the aluminium major's physical and financial targets for 2012-13. As per the MoU, the company's turnover target has been fixed at Rs 7073 crore, which is Rs 500 crore higher...
Bosai’s proposed expansion should be viewed with concern given its history of environmental non-compliance
The proposed expansion by Bosai Mining Company should be viewed with some level of concern given the Company’s history of environmental non-compliance. This concern is further exacerbated by the Minister of Natural Resources and Environment’s admission that “development comes at a cost”. It must be...
Bell Bay smelter's future
The general manager of Bell Bay Aluminium in northern Tasmania has told a mining forum in Launceston the struggling smelter has a future. Ray Mostogl has outlined the challenges facing Bell Bay Aluminium. He says the business is trying to survive in the same conditions it faced during the global...
Bauxite mine faces green provisos amid reef fears
Federal Environment Minister Tony Burke has imposed new environmental conditions on the proposed expansion of a Rio Tinto mine near Weipa, on western Cape York, in far north Queensland. Mr Burke says he has taken into account the impact the expansion will have on the Great Barrier Reef Marine Park....
Bosai to invest $100M in Guyana bauxite operations
A Chinese mining company says it plans a $100 million expansion of its bauxite operations in the South American country of Guyana. Chongqing-based Bosai Minerals Group says it will build a new kiln to process bauxite at its plant in southeast Linden, as well as install heavy-duty generators and...
Chamber of Mines fears near collapse of bauxite industry
The Ghana Chamber of Mines has warned that Ghana’s bauxite industry may collapse if the country’s transportation system is not fixed immediately. Ghana’s bauxite industry has recorded a plunge over the years due to poor railway lines and deteriorating road networks that hamper the transportation of...
Tony Blair expands his African empire into mineral-rich Guinea
The agreement coincides with a deal to explore new mining opportunities signed by the government of Guinea and a Middle East investment fund, which also employs Mr Blair as an adviser on business matters. That contract potentially opens Mr Blair up to accusations of a conflict of interest — as an...
AP Minister against bauxite mining in agency areas
Visakhapatnam, Mar 4 (UNI) Andhra Pradesh Tribal Welfare Minister P Balaraju today said he was against bauxite mining in Girigen Adivasi-dominated areas in Visakhapatnam district. Addressing a news conference here, he said 'as a tribal, I am against bauxite mining in the agency areas in the...
Ministers rule out bauxite mining in Vizag's agency area
No bauxite mining will be permitted in the Eastern Ghats of Visakhapatnam district, inhabited by Girijans and popularly known as the agency area, according to Union Ministers, Mr Jairam Ramesh and Mr Kishore Chandra Deo. The two ministers gave the assurance at a public meeting at Chintapalli in the...
Ord River Resources moves closer to Yuqida JORC Resource update in Laos
Ord River Resources (ASX: ORD) is in the final stages of a JORC Resource statement for the Yuqida prospect at the company’s bauxite bauxite/alumina project in Laos, which follows a 300% increase in the LSI tenement in late 2011. Proposals for a Bankable Feasibility Study at the project are being...
VAL a headache for Vedanta Resources
If Vedanta scrapped its 2008-initiated ambitious restructuring based on business verticals, it was primarily due to two reasons: the valuation of Africa’s Konkola Copper Mines (KCM) and a slowdown that had begun to plague the economy. Four years later, the metals and mining company is back with...
Strike hits mining in Chhattisgarh
Raipur: The nationwide strike called by the country's trade unions has hit bauxite, coal and iron ore mining in mineral-rich Chhattisgarh, officials said on Tuesday. Reports coming in from the state's northern Surguja district say that bauxite mining has been severely hit at Mainpat area, about 450...
No sight of ore but Anrak ready to mine
Though there are no signs of supply of bauxite ore from Visakha Agency in near future, Anrak Alumina Limited (AAL) is planning to commission its newly-built plant at Rachapalle in Makavarapalem mandal near Narsipatnam. The plant would be commissioned in May as the company was importing bauxite ore...
Alecto Minerals shares advance on Guinea bauxite acquisition news
Alecto Minerals (LON:ALO) shares shot up as much as 20 per cent today as it landed an option deal to acquire a new project in Guinea. It can buy a 51 per cent stake in a company called Forward Africa Resources (FAR), which owns a 711 square kilometre bauxite licence in the highly prospective south...
Alecto Minerals Announces Significant Guinean Bauxite Acquisition
Alecto Minerals plc, the AIM listed exploration and development company with gold and base metal projects in Ethiopia and Mauritania, is delighted to announce that it has entered into an option agreement (‘the Agreement') relating to the staged acquisition of Forward Africa Resources (‘FAR'), which...
Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries
The Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries as it tries to simplify a complex corporate structure and deal with challenges to its main businesses. The exercise, which is still on the drawing board, will create agiant metals and...
