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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Hydro and Vale end negotiations for 40% interest in Brazilian bauxite producer MRN
Hydro and Brazilian mining company Vale has ended negotiations on the possible acquisition of Vale's 40 per cent interest in Brazilian bauxite producer Mineração Rio do Norte (MRN). The two companies entered into a letter of Intent (LoI) regarding the possible transaction in October 2015, but have...
NALCO allotted Utkal-D & E coal mines
The Government of India vide Allotment Order dtd. May 02, 2016 have allotted Utkal-D & E Coal Mine in favour of National Aluminium Company Ltd (NALCO). The Allotment Order was issued by the Office of Nominated Authority, Ministry of Coal on behalf of Govt, of India. All the rights, title and...
Centre, states to brainstorm on making mines auction in India a success
The Centre has called a meeting of the Indian state governments this month to deliberate on making the next phase of mineral mines’ (iron ore, bauxite, limestone, gold) auction a success after the initial round failed to get a strong response from the industry. The high-level meeting, to be chaired...
Aluminium centre develops new refractory material
Calcined clay is the most common material used as refractory material (lining of high temperature furnaces). As demand of calcined clay grows manifold, an alternative is needed. The city-based Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) has found a substitute to...
Altech sells high purity alumina exploration licence for $2 mln cash
Altech Chemicals Limited has announced the execution of an agreement with Dana Shipping and Trading S.A. for the sale of exploration licence E70/3923 at Meckering, Western Australia for $2.0 million. The exploration licence is surplus to Altech’s feedstock requirements for its proposed Malaysian...
Supreme Court of India quashes Odisha's plea on Niyamgiri bauxite mining
The Supreme Court on Friday scrapped a petition filed by state owned mining company Odisha Mining Corporation (OMC) to consider afresh the possibility of holding gram sabhas to decide bauxite mining on top of Niyamgiri hills. A bench of the apex court headed by Justice Ranjan Gogoi, refused to...
Stockpile growing in bauxite mines: Exports from Bua stagnant
Exports have experienced a setback in Bua. At least $4 million worth of bauxite remains in Fiji mining sites for a year now despite improvement in the global market. About 70,000 tonnes of bauxite valued at $2.8 million has remained at the Nawailevu stockpile area and 30,000 tonnes worth $1.2m has...
Altech secures settlement for mining lease at Meckering
Altech Chemicals Limited announces that it has executed a settlement and option to purchase agreement for the freehold land that completely encompasses its mining lease application M70/1334 at Meckering, Western Australia. As reported previously, the landowners had objected to the application for...
Chhattisgarh to auction two bauxite mines in the second phase
The success of the first phase of mines auction held in February this year has encouraged Chhattisgarh government to go ahead with a second phase of auctioning. This time, the state government is planning to put 10 more mines carrying limestone and bauxite deposits for auction. Of the 10 mines,...
Bauxite prospectors signs mine pact without ministry
An agreement between AU Capital Mining and Iron Mountain Mining was done outside the government’s normal process, without the input from the Ministry of Mines. Both are Australian companies and are eying bauxite prospecting at Nende, Temotu. It has been known from a reliable source that the Mines...
First Bauxite Corporation completes mining of bulk sample pit at Bonasika
First Bauxite Corporation announced that it has completed a bulk sample test pit programme at its Bonasika 7 bauxite deposit. The company provided a general update on the expected use of proceeds from the US$15 million private placement of secured convertible notes to Resource Capital Fund VI LP....
Global bauxite reserves were 27.5 bln tonnes as of Jan 2016, says report
According to a new market research publication on global bauxite mining trends and outlook to 2020, the world bauxite reserves stood at 27.5 billion tonnes (Bnt) as of January 2016. Guinea had the world’s largest reserves, with 7.4Bnt, accounting for 26.9 per cent of the global total, with most...
Concerns remain about new Pahang bauxite mining measures
A gamut of measures have been taken to systematize bauxite mining and transport in Pahang Malaysia, ever since the moratorium ended last month. As per the new rules, safer pakamatic lorries will be transporting bauxite on newly designed routes to new safer storage sites for stockpiles. The routes...
Pahang ministry hopes bauxite SOPs ready before moratorium ends
The Natural Resources and Environment Ministry of Pahang, Malaysia, is hoping that improvements to the standard operating procedures (SOPs) for bauxite mining can be finalised before the expiry of the moratorium on the activity. Its Deputy Minister Hamim Samuri said, however, the new SOPs would...
Odisha Mining Corp on track to be a long-term bauxite supplier
Odisha Mining Corporation (OMC), a state-run entity engaged in iron ore supplies to steel plants both within and outside the state, is on course to be a long-term bauxite supplier to aluminium producers operating without captive leases. The central mines ministry has approved the reservation of the...
Noranda announces June 3 deadline for creditors to file claims
Noranda Aluminum Holding Corporation has given its creditors until June 3 to file a claim if they want to be paid as the company goes through bankruptcy proceedings. The Jamaican Government is among Noranda’s creditors. It is owed billions of dollars under the bauxite levy and has been trying to...
Lack of markets for bauxite a cause of worry for Mozambique govt
The Tax Authority of Mozambique has confirmed that it is holding negotiations with Vale Mozambique, the local subsidiary of major Brazilian mining group Vale, on the payment of capital gains tax. Vale Mozambique is one of a number of major companies with which the tax authority is currently having...
Rio Tinto finally executes job-cuts at Weipa bauxite mine operations
Mining giant Rio Tinto is finally laying off more than 40 staff at its Weipa bauxite operations. The staff are spread across the East Weipa and Andoom ventures. Two weeks ago, Rio Tinto flagged job cuts at Weipa. It wrote to all personnel, warning them of job losses as part of a review to cut...
