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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Aurum Exploration Fiji delays shipment as global demand of bauxite falls
The 70,000 tonnes of bauxite worth $1.4 million remains stockpiled in Nawailevu, Bua. Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed there were no plans to ship the ore as global demand for it was still low. "The stockpile remains there and is still 70,000 tonnes as work progress slows...
Ma'aden's Q3 net profit drops 83.5 percent
Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, posted an 83.5 percent fall in third-quarter net profit on lower prices for its products. Ma'aden made a net profit of 79.9 million riyals ($21.3 million) in the three months to September 30, versus 485.4 million riyals in the...
Canada's First Bauxite still hunting for financing its Bonasika mining venture
Canada’s First Bauxite Corporation is yet to find a source to finance its proposed bauxite mining project at Bonasika. The delay has posed a major impediment in the start of construction of the mine. “They still looking for financing, it’s very difficult now,” said Commissioner of the Guyana...
Odisha wants Niyamgiri gram sabha polls again to revive bauxite mining
To revive the beleaguered Niyamgiri bauxite mining project in south Odisha, the state government has written to the Union ministry of environment and forests, proposing that gram sabhas in the area be again polled for approval. The mining plan was scrapped two years earlier, after all 12 gram...
Rio Tinto sustains strong performance in bauxite
Rio Tinto releases strong third quarter production results despite the bearish situation in the commodity market. Rio Tinto chief executive Sam Walsh said “We continue to deliver efficient production, rigorous cost control and sound allocation of capital. This approach is ensuring that our tier one...
Bauxite mining to help boost Malaysia's Tanah Makmur earnings
Bauxite mining is expected to help sustain Malaysia's Kuantan-based Tanah Makmur’s earnings in spite of lower net profit from its other business in the near term. Some 1.2 million tonnes of bauxite were discovered on Tanah Makmur’s KotaSAS township land banklast year, The company started mining the...
Another bauxite mine allocated to Nalco post Panchpatmali
Four days after recommending first renewal of Panchpatmali bauxite reserve in favour of Nalco, Odisha chief minister Naveen Patnaik has approved a proposal to allocate another bauxite mines in favour of the aluminium major, official sources said. With the state government recommending Nalco's name...
Odisha government lists bauxite reserve for auction
The Government of Odisha has included one bauxite reserve (Ballada in Koraput district) among the list of 12 mines to be auctioned in the first phase. Earlier, the state government enlisted only iron ore, manganese and limestone mines for auction. The move assumes significance as Vedanta Limited...
Hydro enters LoI with Vale to raise MRN ownership to 45%
Hydro has signed a Letter of Intent (LoI) with Brazilian mining company Vale for the possible acquisition of Vale's 40 % interest in Brazilian bauxite producer Mineração Rio do Norte (MRN), which would strengthen Hydro's global position as a long player in bauxite and alumina. An eventual agreement...
Singapore’s Winning International invests US$200 million in bauxite mining in Africa
Singapore-based Winning International Group (Winning) has invested USD 200 million in a bauxite mining project in the Boke region of western Guinea of Africa, through its formed consortium. The company along with its consortium partners- Weiqiao Pioneering Group, headquartered in China’s Shandong...
Important milestone reached in ¡VAMOS! mining project
¡VAMOS!, the Viable Alternative Mining Operating System, a project funded by the European Union’s Horizon 2020 research and innovation programme, has reached a major milestone with the successful delivery of conceptual design plans of the prototype and all associated equipment. The work was carried...
Alcoa to scale up production at its Pinjarra alumina refinery
Alcoa has flagged a move to expand production at its Pinjarra refinery by up to 20 per cent, winning environmental approval to push the facility’s total alumina output to five million tonnes a year. The Environmental Protection Authority last month ticked off on an Alcoa application to amend...
Stricter rules on bauxite mining planned in Terengganu, Malaysia
Government of Terengganu, the sultanate and constitutive state of federal Malaysia, intends to be more stringent on bauxite mining to prevent environmental pollution, Menteri Besar Ahmad Razif Abdul Rahman said recently. He said new conditions on mining permits would be announced after the state...
Glencore - Queensland Govt's preferred developer for Aurukun bauxite mine
A consortium seeking to mine rich bauxite deposits in Aurukun, in far north Queensland, is urging the State Government to reconsider its bid, amid growing uncertainty about Glencore's future. Glencore is the Government's preferred developer but the multinational's share price plunged 30 per cent...
Latin American mining equipment market to witness growth over 2014-2020
The global mining industry is expected to witness growth with a single digit CAGR over the next six years on account of the further expanding demand for metal and mineral commodities. In a recently published market report on global mining equipment market, Latin America has been identified as the...
CSIRO unveils new Lab-at-Rig technology for mining industry
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has teamed-up with Imdex and Olympus Scientific Solutions Americas, as part of the Deep Exploration Technologies Cooperative Research Centre (DET CRC), to introduce new technology for miners. The new Lab-at-Rig technology...
Glencore share plunge casts doubt over future of Aurukun bauxite mine
The shock collapse of Glencore's share price this week has cast doubt over the future of a bauxite mining project in remote Far North Queensland. Shares in the Swiss-based commodities giant plunged 30 per cent on Monday, September 28 after an investment bank warned its stock could become...
Rio Tinto-ARENA's new Solar Plant for Weipa mine starts operation
Rio Tinto and the Australian Renewable Energy Agency (ARENA) have announced the Weipa Solar Plant will generate electricity for the mining conglomerate’s bauxite mine, processing facilities and the township. At peak output, the 1.7 megawatt plant can generate sufficient electricity to support up to...
