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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Global demand and recession affect Fiji bauxite exports
Fiji has exported $48 million worth of bauxite so far from the shores of Bua in the Northern Division. But the drop in global demand has affected export and slowed work progress at the mines this year. Aurum Exploration (Fiji) Ltd executive Derek Qiu confirmed although works continued, operations...
Indian govt. delegation visits Huntley’s bauxite mines, seeks Australian collaboration
Union Minister of Steel and Mines, Shri Narendra Singh Tomar met Western Australian Premier, Mr Colin Barnet in latter's office in West Perth, Australia, last week Friday. Tomar is leading a delegation of the Indian mining industry to Sydney for Asia Pacific Mining Exhibition (AIMEX) 2015, one of...
Indonesia sticks to bauxite export ban to force develop smelters and create jobs
In an effort to add value to the country’s mineral resources and more importantly to create jobs Indonesian government has decided not to relax its ban on export of bauxite and other minerals in its upcoming stimulus policy package. This is significant because the ban has already cost Indonesia,...
Saudi unveils plans to develop bauxite mining projects with US mineral giants
Saudi government recently unveiled a series of giant investment and partnership plans in sectors including oil and gas, mining, civil infrastructure, and banking as a part of a 21st century vision of the cooperation with its long-term ally the United States of America. The vision was presented by...
Terengganu freezes new applications for bauxite mining in Kemaman, Malaysia
No approval is being given to any party willing to undertake bauxite mining in Terengganu as the state government has frozen all new applications at the moment. Mentri Besar Datuk Seri Ahmad Razif Abdul Rahman said bauxite mining in Kemaman caused serious pollution problems. He said the freeze...
Vedanta CEO meets Odisha CM for urgent allocation of bauxite mine
Vedanta's chief executive officer (CEO) Tom Albanese urged Odisha chief minister Naveen Patnaik last Thursday to arrange for bauxite for its dying one million tonne per annum (mtpa) Lanjigarh refinery in Kalahandi district as soon as possible. The CEO also officially intimated the company's...
Metro Mining completes $3.6M entitlement issue
Metro Mining has closed a 3.6 million non-renounceable entitlement issue to complete the Bankable Feasibility Study for its Bauxite Hills Project at Cape York Queensland. It received subscriptions for 12670171 shares priced at 0.08 or 28.3% of all shares offered under the 1 for 7 offer. The...
Odisha Mining Corporation to fast track bauxite mining to rescue Vedanta refinery
In its bid to rescue Vedanta's alumina refinery at Lanjigarh, the Odisha government has put its mining PSU Odisha Mining Corporation (OMC) on the job to start mining from Karlapat mines at the earliest. Timelines have been set to achieve different critical milestones to commence bauxite mining from...
Vedanta re-approaches Odisha Govt for bauxite mines
In an attempt to avoid the posssible closure of Lanjigarh plant where operations have been badly hit due to unavailability of bauxite, KK Dave, chief operating officer (COO) of Vedanta Aluminium Limited (VAL) met Odisha Steel and Mines Minister Prafulla Mallick at the state secretariat on Saturday...
Global mining equipment market revenue to reach $95.14 billion by 2022
As per a recent study, the Global Mining Equipment Market is expected to reach USD 95.14 billion by 2022. The mining industry has faced an economic slowdown over the last two years due to reduced investments and weak demand from major geographies including North America & Europe which has...
Andhra government determined to go ahead with bauxite mining
Despite protests coming in from Girijans living in the Vishakha Agency and political parties in opposition in the state, Andhra Pradesh government seems insistent on going ahead with the bauxite mining projects in the Agency area in Vizag and East Godavari districts. In a recent development, the...
Mine auction in India may start by October-November
Mineral-producing states are expected to begin auction of mines bearing minerals such as iron ore, bauxite and limestone by October and November, Steel and Mines Minister Narendra Singh Tomar reportedly said. "I have spoken to all the Chief Ministers of the mineral-producing states, and the process...
Alumina stock rating upgraded by Macquarie
Macquarie upgraded shares of Alumina (AWC) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, Analyst Ratings Net reports. Several other analysts also recently weighed in on AWC. Credit Suisse reiterated a neutral rating on shares of Alumina...
Early clearances must before auctioning of mines: FIMI
With mineral-producing states expected to start auction of mines bearing minerals such as iron ore, bauxite and limestone by October and November, Federation of Indian Mineral Industries ( FIMI) urged the Centre to ensure that all approvals including forest and environment clearances should be put...
Glencore to proceed with bauxite mining project in Aurukun, Cape York
The Minister for Natural Resources and Mines, Anthony Lynham has confirmed the competitive bid process to mine a bauxite lease in Aurukun will not be reopened. Dr. Lynham told at an open community meeting of about 30 people in the Cape York community on Saturday the Swiss company Glencore would...
HC seeks Centre's reply on Balco plea
Delhi High Court today sought the Centre's response on Bharat Aluminium Company's (Balco) plea challenging government's decision rejecting its representation to reconsider cancellation of its bid for a Chhattisgarh coal block. A bench of justices Badar Durrez Ahmed and Sanjeev Sachdeva issued...
Australian companies keen to invest in Iran’s mining projects
Australian companies are eager to make investment in Iran’s mining projects, according to Gerard Seeber, the senior trade commissioner for the Middle East and North Africa (MENA) region in the Australian Trade Commission (Austrade). The commissioner of Austrade, which is the Australian Government’s...
Vedanta to raise INR 2,000 crore to refinance debt
Vedanta Ltd, the mining and oil and gas arm of Anil Agarwal’s Vedanta Resources Plc., plans to raise INR 2,000 crore by issuing non-convertible debentures (NCDs) in a bid to refinance a part of the company’s debt, the company informed the stock exchanges on Monday. This issue is part of the overall...
