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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Guinea bauxite, alumina output rise in 2011
Guinea's bauxite and alumina output rose in 2011, although work stoppages and softening world demand prevented a larger increase in production, the West African state's government said on Monday. Bauxite production rose more than 9 percent to more than 17.5 million tonnes, while alumina output rose...
Alumina Limited Shares Downgraded to “Hold” by RBS Analysts (AWC)
Alumina Limited (NYSE: AWC) was downgraded by equities research analysts at RBS (LON: RBS) from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. Alumina Limited is an Australia-based company. The Company is engaged in investing in bauxite mining, alumina refining...
Maoists damage properties against govt's bauxite mining plan
Visakhapatnam, Feb 19 (PTI) Maoists have been allegedly damaging properties in the district to protest against government proposal of allowing bauxite mining in the agency area, police said. According to police, Maoists blasted an abandoned coffee pulp godown at the Lankapakala village in G K...
Minister says no bauxite mining without tribal people’s consent
Tribal Welfare Minister P.Balaraju has said that the Government would take into consideration the feelings of the tribal people living in the agency area of Visakhapatnam district, before allowing mining of bauxite reserves. At a press conference here on Sunday, Mr. Balaraju denied reports that the...
Aluminum Ore Mining in China - new industry profile report
The Aluminum Ore Mining industry in China consists of enterprises that mine bauxite, the principal ore of aluminum, and process raw materials such as washing and ore dressing. More than 90% of bauxite is further processed into alumina, with the remainder used as refractory materials, abrasive...
Vinacomin in Talks to Sell Alumina to Chalco, Marubeni This Year
Vietnam National Coal-Mineral Industries Group, the state-owned mining company, is in talks with partners Aluminum Corp. of China Ltd. and Marubeni Corp. for sales from the country’s first alumina project. Vinacomin, as the company is known, will begin production at its alumina plant in Tan Rai of...
Rio Tinto vows to protect Austrothelphusa crab
Mining company Rio Tinto says it will go beyond the call of environmental safeguards to protect a newly discovered freshwater crab if it is allowed to expand a Cape York bauxite mine. Rio submitted its second environmental impact statement (EIS) on the South of Embley project to the Queensland...
Orbite's technical report not compliant, Quebec regulator tells company
Shares in Orbite Aluminae Inc. spiralled as much as 25% on Friday afternoon, after it said Quebec’s financial regulator notified the company the preliminary economic assessment (PEA) for the Grand-Vallée alumina project did not comply with regulations. “Orbite is reviewing the matter and will...
Rio Tinto chief Tom Albanese waives bonus after profits drop on aluminium hit
The chief executive of mining giant Rio Tinto said he will not take an annual bonus after the company posted an $8.9bn (£5.6bn) writedown on the value of aluminium assets bought under his oversight. Tom Albanese said he declined to be considered for the reward because of what has happened to the...
BHP looks at aluminium businesses
DIVERSIFIED miner BHP Billiton expects the volatility in the commodity markets to continue as sovereign debt problems in Europe weigh on customer behaviour, it said yesterday in its report for the six months ended December last year. The company reported a 5,5% fall in profit to $9,9bn. Revenue was...
Aluminium warps Rio out of shape
FALLING aluminium prices sparking a massive writedown of Rio Tinto's assets have sent the miner's full-year net profit tumbling almost 60 per cent. And chief executive Tom Albanese has been forced to forgo any bonus for 2011 due to the bleak development. The mining heavyweight's aluminium business...
Pacific Alumina business sale may be on hold
The global mining giant Rio Tinto which had its performance in 2010 overshadowed by the profit line achieved by its only major rival, BHP Billiton, may put its sale of Pacific Aluminium on hold. The company’s chief financial officer told reporters in Melbourne yesterday that at present conditions...
Resources boom slows to a simmer as China starts raising the heat
BHP Billiton's $US9.9 billion December-half profit and Alcoa's announcement yesterday that it is reviewing the future of the Point Henry aluminium smelter in Geelong both point to a change in the resource boom. It has slowed from a fast boil to something more like a simmer, and there are...
Paulwell unaware of bauxite shutdown
THE GOVERNMENT has confirmed reports that bauxite mining firm, UC Rusal, has been taking some of its equipment out of the island and sending it to Guyana. However, Phillip Paulwell, the minister of science, technology, energy and mining, told the House of Representatives yesterday that the...
Guinea Threatens to Cancel Mining Licenses
CAPE TOWN, South Africa—Guinea next month will begin an audit of mining companies operating in the country, which could see some licenses revoked. The country isn't "getting the benefit from its resources," Mines Minister Mohamed Lamine Fofana said on the sidelines of the Indaba mining conference...
Australian, N.Z. Stocks updates: Alumina, BHP, Gunns, Hallenstein, Toll,Rio Tinto Alcan
Australia’s S&P/ASX 200 Index rose 0.4 percent to 4,290.7 at the close of trading in Sydney, recouping some of yesterday’s 0.5 percent drop. New Zealand’s NZX 50 Index rose 0.3 percent to 3,324.67 in Wellington, extending yesterday’s 0.1 percent advanced. The following were among the most active...
UC Rusal not leaving Jamaica
The government says it is not aware of any plans by alumina company, UC Rusal to close its Ewarton operations in St. Catherine. Last week Opposition Spokesman on mining, J.C Hutchinson, called for the mining minister, Phillip Paulwell to investigate reports that UC Rusal was moving heavy equipment...
GUINEA: Foreign Firms Scramble for Iron, Bauxite
Environmentalists have reacted with guarded caution to announcements of new plans to mine more bauxite and iron in Guinea. The plans were released after conclusion of the International Forum on the Mining Sector (FISM) held in this West African country last month. Guinea Ecologie, the only...
