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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Tasmanian bauxite mine suspends production after first shipment stalls
A new bauxite mine at Campbell Town in northern Tasmania has gone into care and maintenance after it failed to secure a buyer for its first shipment. Australian Bauxite began mining at Bald Hill early last year, in what is understood to be the country's first new bauxite quarry in 35 years. The...
Noranda announces cost-reduction and other strategic measures for its upstream business
Noranda Aluminum Holding Corporation has announced actions principally designed to reduce costs in the company's integrated upstream aluminium business, which comprises its bauxite mining operation in Jamaica, its alumina refinery in Gramercy, Louisiana, and its primary aluminium smelter in New...
Bauxite miners race to clear stockpiles at Kuantan Port
A substantial bauxite built-up is being apprehended on Kuantan Port’s land when a three-month mining ban kicks in at midnight overseeing January 15. Kuantan Port Consortium general manager Datuk Azahari Muhammad Yusof said lorries were now speeding in bauxite here at an average of 80,000 tonnes a...
RM180 mln loss after Malaysia govt failed to tax bauxite miners, says Rafizi
Putrajaya, the third and latest Federal Territory of Malaysia, failed to impose any export duties on bauxite mined in Kuantan, losing at least RM180 million in 2015 that could have been channelled back to the people to address pollution concerns caused by the industry, PKR’s Rafizi Ramli said...
Logistic firm says Pahang's temporary bauxite mining ban has no impact on them
Information technology and logistics firm Asdion Bhd says that the three-month moratorium effective this Friday on bauxite mining activities in Pahang has no impact on its business. In a filing with the stock exchange, the company said it had not begun the supply of bauxite to commodities trader...
Pahang moratorium could hike sluggish bauxite prices
The decision of the Malaysian government to impose a moratorium on bauxite mining here could trigger a rise in market price of the mineral after experiencing falling prices in the past five months. Pahang Iron Ore Operators Association chairman Datuk Seri Tengku Zulkifli Tengku Ahmad said the huge...
Odisha CM bats for Karlapat bauxite mine lease to OMC
Odisha Chief Minister Naveen Patnaik today requested Union Mines Minister Narendra Singh Tomar to grant OMC (Odisha Mining Corporation) the lease and prospecting license of Karlapat bauxite mine. OMC has already applied for the lease of 1848 hectares of explored area and prospecting license for...
China fuels red boom in global bauxite trade
Malaysia is a small player in the global bauxite industry but strong demand from China has fuelled a red boom in the country. Bauxite is processed into aluminium oxide or alumina before being smelted to extract aluminium, which is used in all kinds of products ranging from packaging to aeroplanes....
January aluminium price forecast: Australian miners thrilled with turnaround
With the sudden rise in aluminium prices just last week, miners across the world are rejoicing, including in Australia where the outlook is expected to improve. According to a report from the International Business Times, an increase in US consumer spending has boosted investors’ hopes of a...
Noranda Bauxite's job-cut plans take union by surprise
Noranda Bauxite said yesterday that it had been in consultations with unions representing the workers as it prepares to cut jobs this month. The company said this move was in response to the major decline in the global price of aluminium and demand facing the industry. Noranda Bauxite said that...
Malaysia seeks to suspend bauxite mining after environmental scare
Malaysia is pushing to suspend bauxite mining due to concerns about its impact on the environment, a cabinet source said on Saturday, threatening to interrupt supply of the aluminium-making ingredient to China. The largely unregulated industry has grown rapidly in the last two years to meet Chinese...
Growing mining equipment demand to raise global market valuation by US$117 bn by 2018
According to a recent market research report, the global mining equipment market is estimated to be worth US$117 bn by 2018. The overall market was worth US$71.5 bn in 2012 and is projected to grow at a CAGR of 8.60% during the forecast horizon. Mining is an important sector and contributes...
Iran plans to double mining share in GDP; Mining SEZ under construction
With the fall in oil prices, Iran’s focus has drifted to non-oil sectors and the government is aiming to increase the mining sector’s current GDP share from less than 1 per cent to more than 2 per cent within next ten years, a report said. The Islamic Republic is also targeting growth in relevant...
i3MS software to help track India's mining operations across value chain
i3MS software is a technology breakthrough developed to track end-to-end mineral transaction including the quantum of minerals produced, transported and received by different industries. In a recent press meet held to update industry people on Odisha's revenue generation from mining sector,...
Odisha govt to auction more bauxite mines in 2016
Odisha's economy has experienced a setback following revenue cuts by the Central government. This has affected, in turn, revenue generation from the state's mining sector. Even though revenues from iron ore and bauxite mining in India's mineral-rich coastal state increased during 2015-16 fiscal...
Guinea's president names mining executive as new prime minister
Guinea President Alpha Conde named mining executive Mamady Youla as prime minister on Saturday as part of a strategy to revive the West African nation's ailing economy, the government announced. Guinea is a major producer of bauxite, an aluminium ore, but growth has been hamstrung by a slump in...
Malaysian bauxite rush brings wealth, and worries
Malaysian farmer Surin Beris’s palm plantation has been razed and bulldozers are tearing into its red soil, releasing potentially hazardous dust into the environment - yet he couldn’t be happier. Surin, 67, is reaping a windfall from a modern-day gold rush in Malaysia’s sleepy rural state of Pahang...
Mining shares surge as aluminium rise on faster U.S. growth
Mining stocks rose the most in more than 10 weeks in London as aluminium advanced after a report showed the U.S. economy expanded faster than estimated, boosting demand in the second-largest metals user. The U.S.’s gross domestic product expanded at a revised 2 percent annualized rate, a government...
