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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Salcete truck owners gun for RTA
Truck owners from Salcete hit out at the Rivona Truckers' Association (RTA), who have planned to stop trucks from Navelim, Margao, coastal areas of Benaulim, Colva and Varca from entering mining sites at Rivona. Speaking on behalf of the Salcete truckers' community, member Sadanand Naik, told...
Indonesia's mining tax plans will raise coal and base metals prices
Recent tax developments by Indonesia's government aimed at promoting local mining are expected to increase prices of coal and aluminium among others as demand for metals in India and China continues to rise. Last week's announcement by Indonesia's government that it is considering a tax on the...
Ban export of raw minerals, ores: Tribal Minister
Arguing that indiscriminate exploitation of mineral resources was leading to alienation amongst local tribal populations and furthering the cause of Naxalite groups, Minister for Tribal Affairs V Kishore Chandra Deo on Wednesday advocated a ban on export of raw materials like iron ore or bauxite....
Update - Mining: PM defends radical industry shake-up
Guinea's new mining code will curb corruption and make more money available for development, Prime Minister Mohamed Said Fofana has said. The code gives the government a free 15% share in mining companies and demands greater financial transparency. Guinea, despite being the world's main exporter of...
Africa Rising: Guinea reworks its deal with mining companies
Development experts say Guinea's new mining code may be its best chance to ensure the world's largest supplier of aluminum ore gets a fair share of the profits. The question: will the new law be enforced? Last week, the most mineral rich country this side of the Congo signed into action 106 pages...
Rusal Says 'Senseless' to Invest in Guinea Projects; Current Accords Safe
United Co. Rusal, the largest maker of aluminum, said changes to Guinea's mining laws mean investors will find it "senseless" to agree on new projects for the country, the biggest exporter of the metal's main ingredient. Rusal's current concession to develop the Dian Dian bauxite deposit and...
Rio Tinto's Cape York development may be hindered
A crab the size of a ten cent piece might stop the development of mining giant Rio Tinto’s $900 million Cape York bauxite mine. Scientists employed by Rio to undertake an environmental analysis of the north Queensland site have found what is thought to be a new freshwater crab species. The findings...
New Mines Bill to be tabled in Parliament in winter session
The new Mines Bill, which provides for sharing of profits and royalty with project-affected people, is likely to be introduced in the winter session of Parliament, a senior official said. The Bill, earlier supposed to be tabled during the just concluded monsoon session, has not yet been placed...
Forest land should not be used for mining
Leading ecologist Madhav Gadgil, heading the Western Ghat Expert Ecology Panel (WGEEP) constituted by the ministry of forests and environment (MoEF), in his report, has emphasised that forest land in this densely-forested areas should not be used for mining purposes. In his report, submitted to the...
Bauxite Reserves and further mining
Even if we have three billion tonnes of bauxite reserves, the fact is these resources are still finite. Moreover, the experiences of Vedanta in trying to open bauxite mines in the Niyamgiri hills are, to say the least, disheartening. Former mines minister B K Handique had an occasion to say that...
Indian Mining companies big on growth
By mine output, India is one of the leading producers of metals raw materials. However, the actual impact of Indian commerce on global mining is felt far more widely. Recent Indian mining investment has been broad-based, sizeable and reflects a willingness to invest in early stage and...
Impact Of Guinea Mine Code
Late last week Guinea's government announced adoption of a new mining code allowing it to increase its participation in projects run by commodities companies operating in the country to 35% from the previous 15%, to boost revenues from the country's rich bauxite resources. However, it's still...
Guinea Adopts New Mining Code That Gives State 35% Stake
Lawmakers in Guinea, the world’s biggest exporter of bauxite, adopted a new mining code that will give the West African nation a 35 percent stake in commodity companies. “The code gives a correction to the old one for Guinea’s interests,” Mines Minister Lamine Fofana told reporters after the policy...
Mining to play a vital role in India growth
Mr Prabhas Pande former additional director general of Geological Survey of India said that stating that minerals are precious natural resources for any country. The minerals are nonrenewable in nature and limited in quantity. Mr Pande said that "Indians have been familiar with minerals since...
Mining Firm Orbite files an amended 43-101 compliant report and Annual Information Form
Exploration Orbite VSPA Inc.has announced today that it has filed an amended and restated 43-101 compliant technical report relating to its Grande-Vallée property, prepared collectively by Jean-Guy Levaque ing. and Raymond Simoneau ing. MBA, in addition to an amended and restated Annual Information...
Linden bauxite dust problem worsens
Residents of Linden are expressing no-confidence in the management of bauxite company BOSAI fulfilling their recent commitment to have two dust collecting units operational by February 2012, saying that they have for many years been living on empty promises. Their claim was valid, according to...
Cape York Mines listing timetable
EXISTING mines will be excised from the proposed Cape York world heritage zone under the Gillard government's revamped strategy to nominate much of the peninsula for listing by 2013. Environment Minister Tony Burke yesterday unveiled the plan to enter on the world heritage register a patchwork of...
Rusal: Aluminum Producers In Guinea Should Meet Over New Mining Code
Aluminum producers active in Guinea should meet to discuss the implications of the country's new mining code, a senior executive at Russia's United Co. Rusal PLC (0486.HK) said Thursday. "It's too early to know what the new mining code might mean, but there are some issues that are worrying...
