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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Odisha backs L&T bid for bauxite deposits, sends DGPS report
Engineering giant Larsen & Toubro's (L&T) bid to secure Kutrumali and Sijimali bauxite deposits has got a major breakthrough with the Odisha government sending the DGPS (Differential Global Positioning System) survey report on the mines to the Union mines ministry. "The Centre had asked for DGPS...
Nalco plans INR 5,500 crore expansion at its Damanjodi alumina refinery
Armed with two coal blocks the National Aluminium Company (Nalco) is planning to go for third phase expansion of its refinery at Damanjodi with an investment of nearly INR 5,500 crore. The Navratna PSU is waiting for the state government's consent for allocation of Pottangi mines, company CMD T K...
Mining Act review to determine royalty shares of landowners in Fiji
Landowners of Fiji's first bauxite mine at Nawailevu in Bua are yet to get their fair share of royalty because a formula to determine it will be part of the review of the Mining Act. And until that happens, royalties will be held in trust by Government. This was clarified by Lands Minister...
Nalco to start coal mining, increase alumina and bauxite production - CMD
The public sector National Aluminium company limited (NALCO) has planned to increase the existing metal, alumina and bauxite production and start a coal mining. Disclosing this at the 34th annual general body meeting of the company today NALCO CMD T K Chand said the value-chain has shifted in...
LME aluminium down 0.6% - mining and metal stocks drag FTSE 100 lower
Mining and metal stocks led the London market lower on September 24, Thursday, as the commodities market saw another tumultuous trading session. The FTSE 100 fell below 6,000-level closing 1.17% or 70.75 points lower at 5,961.49, while the FTSE 250 closed down 0.87% or 145.32 points at 16,514.53....
Space technology to check illegal mining in India
India would soon use indigenous space technology to check illegal mining and guard its mineral wealth using satellite imagery, a top official said on Thursday. "We are in talks with the Indian space agency to use its earth-observation and remote sensing satellites for tracking illegal mining...
Hindalco Industries trades higher on the bourses
Hindalco Industries is currently trading at INR 73.35, up by 0.20 points or 0.27% from its previous closing of INR 73.15 on the BSE. The scrip opened at INR 72.50 and has touched a high and low of INR 73.65 and Rs. 71.70 respectively. So far 365860 shares were traded on the counter. The BSE group...
Metro Mining to seize benefits of upgraded mining approvals
Metro Mining says a decision by the Queensland Department of Environment and Heritage Protections (DEHP) requiring a full Environmental Impact Statement (EIS) for its Bauxite Hills Project is a setback but will provide considerable side benefits. Metro Mining had submitted a detailed application...
OMC writes to environment ministry seeking guidance on Niyamgiri bauxite deposit
The Odisha government hasn't quite relinquished its right to mine the controversial Niyamgiri bauxite deposit, originally identified to supply ore to Vedanta Resources' nearby alumina refinery. State-owned Orissa Mining Corporation (OMC), which was granted mining rights for 30 years in 2004, has...
Guinea banks on top-quality bauxite to spur economic growth
Bauxite mined by Guinea’s biggest producer Compagnie des Bauxites de Guinee- a company owned by io Tinto Plc, Alcoa Inc., Dadco Alumina & Chemicals Ltd. and the government, has been the country’s steadiest source of income since it first produced the ore forty years ago. The company is all set to...
Nalco to spend INR 1,000 cr on developing coal blocks
Indian aluminium major National Aluminium Company Ltd (Nalco) will spend around INR 1,000 crore for developing Utkal D and E coal blocks allocated to it recently. Both the coal blocks are located in the vicinity of Nalco's 0.46 million tonne aluminium smelting facility at Angul. "The company will...
Centre to hold mines auction on behalf of Indian states from November
In a bid to fast-track mineral extraction, the centre will conduct auction of mines bearing minerals such as iron ore, bauxite and limestone on behalf of states for the first phase starting November this year. In phase I, the 12 mineral-producing states have identified 80-90 blocks that will go...
EU lifts sanctions on Iranian mining firm Iralco
The General Court of the European Union has annulled the sanctions listing of the Iranian Aluminum Company (Iralco), Iran’s top state-owned holding company in the mining sector says. The Luxembourg-based court voted to remove Iralco from the list of entities subject to asset freeze, the public...
Wider consultations soughted for proposed bauxite mine in Wainunu
The Bua Urban Youth Network has called for wider consultations for the bauxite mining in Wainunu district. A release from the group stated that landowners should, by right be consulted and given the necessary information to ensure their consent is informed. "This also means that landowners and...
Problems galore for Vedanta's Lanjigarh refinery
Vedanta's decision to close its loss-making Lanjigarh refinery is triggering varied reactions across the state. While on one hand Union ministry's recommendation to grant mining lease (ML) over Karlapat bauxite mines to feed the dying refinery stands thwarted in the face of opposition from the...
Centre allots Utkal D&E Coal Blocks to NALCO
National Aluminium Company (NALCO) has been allocated Utkal D and E Coal Blocks, in Angul district of Odisha, where the company's 4.6 lakh tonne aluminium smelter and 1200 MW captive power plant are located. The company's smooth operation and expansion plans hinged on the allocation of these blocks...
NALCO's bauxite mine bags Pollution Control Excellence Award
The bauxite mine of Navratna PSU National Aluminium Company Ltd (NALCO), situated at Panchpatmali Hill in Odisha's Koraput district, has bagged the prestigious Pollution Control Excellence Award -2015. The award, instituted by State Pollution Control Board, Odisha (OSPCB) was conferred on NALCO in...
Wainunu in Bua opens doors to bauxite mining
The vanua of Wainunu in Bua has agreed to bauxite mining. However, it has made its stand clear that proper preliminary work needs to be done first including an environment impact assessment report. Tui Wainunu Ratu Orisi Baleitavea confirmed the bose vanua of Wainunu (traditional leaders meeting)...
