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...
Grow with
AL Circle
Centre approves mining lease of Utkal-E Coal block to Nalco
The Union Coal Ministry has granted in-principle approval for mining lease of Utkal-E coal block in Angul, with an estimated reserve of 70 million tonnes and covering an area of 212 hectares, in favour of aluminium major NALCO, sources said today. The allocation was made to meet coal requirement of...
Global woes likely to take sheen off NALCO's earnings
Buoyed by stronger LME (London Metal Exchange) aluminium prices and higher alumina sales, Nalco's earnings per share rose 33% over the previous year in the first quarter of FY12. Compared with its peers, the country's third largest aluminium producer has managed the increase in input costs well,...
Rio Tinto Alcan looks at Cairns training centre
MINING giant Rio Tinto Alcan is assessing sites for a recruitment and training centre in Cairns for its $1 billion-plus Weipa bauxite expansion project. Rio Tinto Alcan Weipa operations general manager Jo-Anne Scarini said the company wanted Cairns to share in the economic benefits the project...
Electrolytic Aluminum Industry Arrives at Its Inflection Point, Demand for Mining Equipment Rising Dramatically
Recently, Electrolytic aluminum industry supply can’t meet with demand under the government tight control. Majority of electrolytic aluminum enterprises once again gain profit. Aluminum hasn’t been favored in the past, however, since this June, electrolytic aluminum with its climbing price begins...
Local recruitments for bauxite
RECRUITMENT of locals to work at the bauxite site in Nawailevu Village in Bua has begun, confirmed Commissioner Northern Lieutenant Colonel Ilai Moceica. The recruitment, he said, began with those in the security department and allowed people around Vanua Levu to grab this opportunity.
Chinese miners lack work permits at bauxite mine in Vietnam
Nearly two-thirds of labourers working at one of two controversial Chinese-run bauxite mines in Vietnam's Central Highlands do not have permits, local media said Friday. Up to 190 of the 312 Chinese labourers at Nhan Co Aluminum Plant in Dak Nong province are working without the right paperwork,...
Bauxilum to invest USD 48 million to improve operations at Los Pijiguaos mine
BNamericas reported that Venezuelan state bauxite and alumina company Bauxilum will spend more than USD 48 million to increase bauxite output at the Los Pijiguaos mine. Mr José China president of Bauxilum said that the plan involves spending USD 28.8 million to purchase inputs and parts to upgrade...
Orissa's huge mining sector under RTI scanner
The Orissa State Information Commission wants more transparency in mining sector in the state, in view of allegations of rampant irregularities and corruption. The commission has directed the government to display all relevant information on mining on the departmental website after it received...
Shares fight back in volatile session
Close Shares recouped early losses to finish flat in another sharp one-day reversal. Mining heavyweight BHP Billiton was down 47 cents at $37.93 and Rio Tinto lost $1.94 to $70.41.
Rio Tinto Alcan Weipa bauxite mine expansion a boon for Far North
THE $1.5 billion Rio Tinto Alcan bauxite mine expansion at Weipa has wide reaching economic, employment and export benefits which have been underestimated by the business community.
Local bauxite history shared in Shannon
In the late 19th and early 20th centuries, there was mining in Floyd County. It wasn’t the kind that involved long tunnels and workers breathing in coal dust underground. The mines produced bauxite, which is used to make aluminum. The first bauxite found in the United States was found in this area,...
Suriname eying US$3.5B of investments
With four big investments in Suriname planned for the coming three to four years, the country must start preparing now to fully benefit from these financial injections. The labor market in particular must be made ready, says Henk Ramdien, retired managing director of bauxite company Suralco. On...
Rio Tinto, Mitsubishi Corp. Offer $1.55 Billion for Rest of Coal & Allied
Rio Tinto Group, the world’s second- biggest mining company, and Mitsubishi Corp. (8058) offered A$1.49 billion ($1.55 billion) for the shares in Coal & Allied Industries Ltd. (CNA) they don’t own to take the coal miner private. Rio and Mitsubishi, which own stakes of 75.7 percent and 10.2 percent...
Metals, mining assets big draw for private equity players
Supply constraints in the metals sector, accentuated by Chinese export restrictions, have resulted in private equity players expressing an unprecedented interest in the field. PE investments amounting to $650 million have poured into the $30-billion Indian metals and minerals sector in the first...
Rio Says Rising Labor Costs, Australian Dollar Put Pressure on Expansion
Rio Tinto Group said rising labor costs and the Australian dollar are hurting earnings and put pressure on expansion plans by the world’s second-largest mining company. “This is a challenge we’re going to face, not just this year, but in the coming years,” Chief Executive Officer Tom Albanese said...
Rio expects ballooning Kestrel costs: report
Rio Tinto has tipped cost blowouts and delays at its Kestrel coking coal project in Queensland, on top of the $US2.4 billion worth of Australian-dollar induced iron ore and alumina project expense increases, according to The Australian.
Mongolia's Giant Coal Mine Begins Shipments to China's Chalco
Mongolia's massive Tavan Tolgoi project began shipping 4,000 tonnes of coal south to its new partner, the Aluminum Corp of China Ltd (Chalco) on Thursday following a ceremony at the mine site. The mine's state-owned operator, Erdenes Tavan Tolgoi, agreed last week to sell $250 million worth of coal...
ENRC aluminum production up by 9pct in Q2 2011
Interfax reported that Kazakhstan's Eurasian Natural Resources Corporation in the Q2 of 2011 increased aluminum production by 8.8% to 62,000 tonnes YoY. Bauxite extraction in the reporting period was 1.354 million tonnes, alumina production of 409,00 tonnes was in line with Q2 2010 and showed an...
