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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No environment clearance for Vedanta, Centre tells green tribunal
Vedanta's environment clearance to mine the Niyamgiri hills has been withdrawn as the rejection of forest clearance had made the green nod 'inoperable and infractuous', the environment ministry told the National Green Tribunal on Thursday while indicating that the environmental clearance in itself...
Chinalco Establishes Rare Earth JV
Aluminum Corporation of China (Chinalco), the parent of Aluminum Corporation of China (Chalco) (601600,2600.HK), jointly established a company, Chinalco Guangxi Rare Earth Development in Naning, Guangxi province, with Guangxi Non-ferrous Metals Group and Grirem Advanced Materials, reports National...
BHP Billiton annual production hits records
BHP Billiton Ltd delivered record annual production in four of its commodities, the firm said in a statement Wednesday. For the year ended 30 June 2011, natural gas output rose by 10% on the year-ago period, and iron ore increased by 8%, the firm said. Copper, alumina and manganese output also...
Orbite to advance Cap Chat pilot plant to commercial production
Montreal based Exploration Orbite has raised USD 57.5 million through a recently completed bought deal. Most of the net proceeds will be used to convert the company's Cap Chat pilot plant into a commercial facility producing ultra pure alumina. Orbite's major holding is its Grande Vallee property...
Weipa South of Embley project reaches EIS milestone
Rio Tinto Alcan welcomes the Queensland Government's release of the Environmental Impact Statement for a bauxite mining project that will underpin the long term future of its Weipa operations in Cape York Peninsula. The South of Embley project will see Rio Tinto Alcan extend bauxite mining on an...
Henan province prospected native distribution of bauxite resources
Recently, the survey summary of Henan bauxite resource utilization status was passed the expert evaluation and gets a good grade. For the preparation of The Acceptance Review Regulations of National Resources Utilization Status Summary Survey and to make sure the feasibility of the summary surveys...
Ma’aden Q2 profit surges to SR62.5m
Saudi Arabian Mining Co. (Ma’aden) said Sunday its profit doubled in the second quarter. Ma’aden made a net profit of SR62.5 million ($16.7 million) in the three months to end-June, compared to SR31.2 million in the same period a year earlier. Analysts surveyed by Reuters expected the firm to post,...
Ma’aden Q2 profit surges to SR62.5m
Saudi Arabian Mining Co. (Ma’aden) said Sunday its profit doubled in the second quarter. Ma’aden made a net profit of SR62.5 million ($16.7 million) in the three months to end-June, compared to SR31.2 million in the same period a year earlier. Analysts surveyed by Reuters expected the firm to post,...
ALUMINIUM-Major market developments in June
PRODUCTION: June 23 - BHP Billiton , the world's largest mining group, said the estimated cost of expanding the Worsley alumina project in Western Australia had increased by more than half due to its complexity and inflationary pressures. BHP, which has an 86-percent interest in the project, said...
Aviva to withhold support at miner Vedanta's AGM
Asset manager Aviva Investors still has concerns over miner Vedanta's social conscience and corporate governance standards, despite a high-profile campaign last year that saw the group under pressure from shareholders and activists. Aviva, small but vocal shareholder in Vedanta, said on Friday it...
Industry uncertainty over carbon tax
KEY industries in the Hunter say they face uncertainty under the government's carbon tax, despite the significant financial support to be provided to some. The Hunter's mining and aluminium industries, both major employers, say the tax will reduce their competitiveness internationally. The Hunter...
New tribal minister opposes Posco project
Newly-appointed tribal affairs minister V Kishore Chandra Deo on Thursday gave a boost to anti-mining activism by vetoing the Posco project in Orissa and also said that bauxite mining cannot be allowed just because the mineral deposits are under the houses of poor tribals. Deo, who as Congress MP...
Rio Tinto’s Australian operations recover from floods
Diversified mining group Rio Tinto’s Australian operations have largely recovered from the floods, which hampered production earlier this year, with the miner on Thursday reporting higher second-quarter iron-ore and coal output. “Operations largely recovered from the severe weather impacts earlier...
Rio Tinto’s Australian operations recover from floods
Diversified mining group Rio Tinto’s Australian operations have largely recovered from the floods, which hampered production earlier this year, with the miner on Thursday reporting higher second-quarter iron-ore and coal output. “Operations largely recovered from the severe weather impacts earlier...
Rio Tinto’s Australian operations recover from floods
Diversified mining group Rio Tinto’s Australian operations have largely recovered from the floods, which hampered production earlier this year, with the miner on Thursday reporting higher second-quarter iron-ore and coal output. “Operations largely recovered from the severe weather impacts earlier...
Rahul wants relief, rehab for people affected by Posco
Just about a year after his open support for the Dongaria Kondh tribals in Niyamgiri who are protesting the mining of bauxite by Vedanta Alumina, Congress general secretary Rahul Gandhi on Wednesday lent his support to the people facing displacement by the 12 million tonne Posco project in Orissa’s...
Rio Tinto Q2 Global Iron Ore Production Rises 12% - Quick Facts
Rio Tinto,in its second-quarter 2011 operations review, reported global iron ore production of 49 million tonnes attributable for the period, which was up 12 percent compared with last year. The company also noted that Mined coppee production was down 24 percent on the 2010 second quarter, mainly...
Rio Tinto Q2 Global Iron Ore Production Rises 12% - Quick Facts
Rio Tinto,in its second-quarter 2011 operations review, reported global iron ore production of 49 million tonnes attributable for the period, which was up 12 percent compared with last year. The company also noted that Mined coppee production was down 24 percent on the 2010 second quarter, mainly...
