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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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...
After Jairam, Vedanta in a patch-up mode with MoEF
Withdraws petition from green tribunal, makes fresh plea for Lanjigarh project. Nearly a month after Jairam Ramesh took over as the rural development minister, the Vedanta Group is trying to patch up with the Ministry of Environment & Forests (MoEF) to get its projects fast-tracked. Vedanta...
Barclays: Collahuasi copper mine workers strike for 24 hours over pay
The metals closed lower on Friday but have been boosted this morning by news over the weekend that the US has come to an agreement on the national debt limit. Copper is trading at $9,870/t with support from the ongoing strike at the world’s largest copper mine, Escondida. This follows a 32-day...
Bauxite survey in Jharkhand stopped after protest by villagers
The survey to assess the exact reserve of bauxite in Jharkhand has been stalled due to protests by villagers fearing displacement. According to a map of the Geological Survey of India and the data available with the Remote Sensing Study, the state especially the western part has bauxite reserves...
SC issues notice to environment ministry on mining in Niyamgiri
The Supreme Court on Monday issued a notice to the MoEF on a petition by the Orissa Mining Corporation accusing Jairam Ramesh of withdrawing environment clearance to Vedanta for bauxite mining in Niyamgiri hills just a day before he was taken out of MoEF.
Barclays: Chilean govt data show mine production fell close to 9% y/y in June
SHFE stocks this week showed another build in copper (+5.3Kt) which we suspect reflects better spot availability following the movement of bonded warehouse stock, while Aluminium stocks fell 22.1Kt, Zinc fell 155t and Lead rose 831t. In terms of metal news, the focus remained on the strike at...
Orissa: Committee finds 104 mining leases produced more than rate prescribed by IBM
Now the committee formed by the state govt. has validated about minings being illegally operated. The committee constituted by Mines Department has found that as many as in 104 mining leases have produced more than the rate prescribed by the Indian Bureau of Mines (IBM).
Industrial Scars: The Art of Environmental Pollution
When bauxite (raw aluminum ore) is processed into aluminum oxide, or alumina, it's first bathed in a solution of sodium hydroxide (lye) at very high temperatures. Aluminum compounds in the bauxite dissolve while other compounds remain behind: iron oxides, sand, clay, some titanium oxides and even...
Industrial Scars: The Art of Environmental Pollution
When bauxite (raw aluminum ore) is processed into aluminum oxide, or alumina, it's first bathed in a solution of sodium hydroxide (lye) at very high temperatures. Aluminum compounds in the bauxite dissolve while other compounds remain behind: iron oxides, sand, clay, some titanium oxides and even...
NPP to ensure full exploitation of Nyinahin Bauxite deposits
Nana Akufo-Addo, Presidential Candidate of the New Patriotic Party (NPP), has promised to ensure the mining of the huge bauxite deposits at Nyinahin, if given the mandate to lead the nation. Nana Akufo-Addo, who is touring the Atwima-Mponua Constituency, as part of his countrywide listening...
Vedanta bosses clash with protesters over pollution and human rights
Anger erupted inside and outside Vedanta's annual meeting on Wednesday as campaigners protested against the mining company's environmental and human rights record. Scores of people picketed the building where the gathering was being held in London and chanted slogans against the firm, which has...
Mongolia state-owned miner signs coal deal with China's Chalco
Mongolia's state-owned miner Erdenes Tavan Tolgoi (TT) has agreed to sell $250 million worth of coal from the east Tsankhi deposit to Aluminium Corp of China Ltd (Chalco) , a move insiders said was aimed at raising cash to help fund its impending listing fees. Under the agreement, Chalco would...
Vedanta Resources may face investor ire over bonuses to top three
Billionaire Anil Agarwal may face problems on July 27 when he addresses shareholders at the annual general meeting of his London-listed mining company Vedanta Resources. The UK-based pension fund advisory PIRC and Aviva Investors, a shareholder in Vedanta, have urged members to oppose the...
Nalco gets final forest clearance for Panchmali South Block
National Aluminum Company Limited has received Stage II final forest clearance for renewal of its bauxite mining lease for the Panchpatmali South Block in Koraput district of Orissa for 20 more years requiring the diversion of 110.3 hectares of forest land. The original lease period in the...
Vedanta under fire from Amnesty international over human rights
Aviva Investors will oppose remuneration report over doubts about Vedanta's corporate social responsibility Amnesty International has launched a scathing attack on Vedanta, accusing the London-listed Indian miner of disregarding human rights and failing to protect the environment. The criticism...
NALCO gets final forest clearance for Bauxite mining
National Aluminium Company (NALCO) touched an intraday high of Rs 82.65 and an intraday low of Rs 80. At 12:32 hrs the share was quoting at Rs 81.70, up Rs 0.75, or 0.93%. It was trading with volumes of 604,530 shares, compared to its 5-day average of 245,411 shares, an increase of 146.33%. In the...
NALCO gets final forest clearance for Bauxite mining
The company has got final forest clearance for Bauxite mining in Orissa, reports CNBC-TV18, quoting Agencies.
Srikant Jena seeks CBI probe into mining scam
Union minister and senior Congress leader Srikant Jena on Sunday said the Orissa government should immediately order CBI probe into the multi-crore mining scam in the state to probe its “honesty.” The minister also pleaded for cancellation of the controversial Orissa Mining Corporation-Vedanta...
