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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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...
Ramesh seals Vedanta fate, now courts to decide
Sealing the fate of Vedanta's bauxite mining project in Niyamgiri hills of Orissa, Union environment minister Jairam Ramesh cancelled the environmental clearance as well on Monday. He had rejected the forest clearance in an order in August 2010. Ramesh's decision came after TOI had reported that...
South of the Embley EIS released for comment
Treasurer and Minister for State Development and Trade Andrew Fraser has invited people to have their say on the environmental impact statement (EIS) for the South of the Embley bauxite project in Weipa. Mr Fraser said project proponent RTA Weipa Pty Ltd ( RTA ) has plans to expand its mining...
Goa NCP leader summoned in illegal mining case
The crime branch of Goa Police Monday issued fresh summons to a leader of the ruling Nationalist Congress Party (NCP) in connection with a multi-crore bauxite mining scandal, officials said. The summons follows a first information report (FIR) filed by the crime branch in May on the direction of a...
Global Alumina joint venture mine project receives $4 million additional funding
Global Alumina Corp. (TSX: GLA.U) says a joint venture board of directors has approved an additional $4 million in funding to develop an alumina refinery, mine and infrastructure in Republic of Guinea. The miner will pay one-third or $1.3 million as part of its stake in the project. The joint...
Nalco's non-core businesses to become separate entities
Public sector aluminium major, Nalco , will hive off its non-aluminium business — power and other mineral mining into separate entities after they have reached a critical size, its chairman, BL Bagra said in Kolkata on Friday. The company is looking at earning 25% of its total turnover to come from...
'Nalco has to spend Rs 10 cr annually to get Potangi mines'
Orissa government today decided to ask the Nalco to spend at least Rs 10 crore per annum towards periphery development activities in order to avail the bauxite reserve at Potangi in Koraput district, official sources said. "We have decided to recommend Nalco's name for the bauxite mines at Potangi....
New bauxite find excites
THE region’s mineral boom continues, with the announcement that bauxite has been found at Guyra. Australian Bauxite chief executive officer Ian Levy said the recent find was the second discovery of the mineral, otherwise known as aluminium ore, in the area around Guyra and Inverell. The recent...
Minesmin panel for faster clearance to big bauxite projs
A Mines Ministry panel has recommended faster clearance to big bauxite mining projects in the country in the wake of aluminium demand likely to double to 2.8 million tonnes over the next six years. Concerned that deficit of bauxite mining capacity will reach 12 Million tonnes by 2016-17 from the...
India mineral output slumps 14.5% in April
The Economic Times reports Indian mineral production declined 14.52 percent in April compared to the preceding month due to sharp drop in the output of coal, bauxite and copper, official data showed Monday. Coal production slumped 32.81 percent at 407 lakh tonnes and production of bauxite fell...
Bauxite mining quota
AURUM Exploration (Fiji) Limited is contracted to dig one million tonnes of bauxite soil from the Nawailevu lands, says the permanent secretary for Mineral Resources, Filimone Kau.,br> "The total volume the contractor is to supply is one million tonnes of bauxite," Mr Kau said. "The tax and...
India Says No Green Nod for Vedanta's Bauxite Mine
Vedanta Resources PLC's bauxite mining project in eastern India hasn't received environmental clearance, the government said over the weekend. Reacting to a Times of India report that an environment panel has reviewed and cleared the project in Orissa state's remote Niyamgiri hills, India's...
Vedanta mine plan back on track?
Could Vedanta's aluminium refinery and bauxite mining project be looking at a second lease of life? A sub-committee of the environment ministry has given the go-ahead to mining the Niyamgiri hills, months after Union environment minister Jairam Ramesh had put the refinery project on hold for...
Nalco to decide on buying stake in Indonesian coal mine by July-end
National Aluminium Company Ltd has said it will decide on buying stake in an Indonesian coal mine by July-end after going through the due diligence report. “IFCI will submit the due diligence by the first week of July. After going through the report, we will take our call on buying stake in the...
Rusal Holds Talks With Guinea to Develop Bauxite Deposit
United Co. Rusal, the world’s largest aluminum producer, said it’s in talks with the government of Guinea on terms to develop the Dian Dian bauxite deposit. The African nation’s government plans to introduce new rules on mining concessions, Vladislav Soloviev, first deputy chief executive officer...
Aluminum smelter pipeline needs filling fast
Reuters reported that more primary aluminum smelter projects must make their way onto the drawing board soon to avert a looming gulf between supply and demand around the end of the decade. Compounding the problem is the likely difficulty in opening new bauxite mines to feed those smelters due to...
Herberton bauxite miner vows to avoid trouble with Tableland farmers
A SYDNEY miner has vowed to steer clear of any conflict with Tableland farmers when it starts exploring land near Herberton for bauxite within the next six months. Queensland Bauxite Ltd owns two tenements about 16km northwest and about 18km south-southeast of the town. Executive chairwoman Pnina...
North economy vulnerable
ABOUT $30million will circulate in the Northern Division once new investment projects like bauxite mining and wood chip exports in Bua start. This coupled with a good year in sugarcane should boost the Northern Division economy, says Labasa Chamber of Commerce president Ashok Karan. Mr Karan said...
