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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Pro Fin Capital to increase stake in TERA
Pro Fin Capital Services Ltd., the leading financial solutions and services provider has intimated the Bombay Stock Exchange (BSE) that it has decided to acquire 80 per cent of the equity capital of Tera Natural Resources and Pellets Private Limited (TERA) in due course. TERA, the bauxite mining...
Outotec acquires Canadian mine tailings solutions provider Kovit Engineering
Outotec has purchased the Canadian technical consulting and engineering company Kovit Engineering Ltd from its founders. Sudbury-based Kovit Engineering specialises in surface and underground mine tailings solutions. The acquisition complements Outotec’s existing dewatering and tailings treatment...
Felda settlers apply for bauxite mining to guard their interest
Some 263 residents and Felda Bukit Goh settlers submitted their application letters to the state government to seek approval for bauxite mining on their land. Bukit Goh Bauxite Problems Coordinating Committee chairman, Datuk Dr Abd Wahid Abd Manap, representing the settlers, handed over the...
Govt of India seeks clarification on L&T mines lease recommendation
Government of India has sought more clarification from the Odisha government on its recommendation to grant mining lease (ML) of Kutrumali and Sijimali bauxite mines to Larsen&Toubro (L&T). In June, the state government recommended the Centre to grant ML of the two mines after L&T committed to set...
OMC may get commercial coal mine from Centre
State owned Odisha Mining Corporation (OMC) may get to operate a commercial coal block for supply of the dry fuel to non-regulated sectors like steel, cement and sponge iron. The state government has already written to the Ministry of Coal to allocate the Patrapada coal block with reserve of 1042...
Xinfa Aurum Exploration installs beneficiation plant at Bua's Votua bauxite mining site
Xinfa Aurum Explorations (Fiji) Limited is constructing a beneficiation plant at its Votua bauxite mining site in Lekutu, Bua. Beneficiation of bauxite involves screening of the ore followed by a wash to remove fine particles. The screened ore is then placed on stockpiles before being loaded onto...
Balco moves Delhi High Court on coal mine bid rejection
Bharat Aluminium Company (Balco), a Vedanta group firm, has approached Delhi High Court against the government's decision to reject the company's winning bid for an auctioned coal mine in Chhattisgarh. The government last week rejected the company's plea to review the cancellation decision taken in...
Centre insists on DGPS survey before grant of bauxite leases to L&T
The Union Mines Ministry has stressed on Differential Global Positioning System (DGPS) survey of Kutrumali and Sijimali bauxite deposits before grant of mining lease (ML) to engineering & construction major Larsen & Toubro (L&T). "Apart from the survey, there is no other roadblock for L&T to get...
GMDC reports 44% fall in Q1 net profit
Gujarat Mineral Development Corporation (GMDC) has reported results for first quarter ended June 30, 2015. The company has reported a fall of 43.66% in its net profit at Rs 73.54 crore for the quarter ended June 30, 2015 as compared to Rs 130.54 crore for the same quarter in the previous year. The...
Rio Tinto to decide on $1.45bn Weipa mine by 2015 end
A decision on the $1.45 billion South of Embley bauxite project at Weipa is to be made by the end of the year 2015, confirmed officials at Rio Tinto. Despite Rio Tinto reporting a first half year net profit slumping 43 per cent to $3.98 billion as falling iron ore, coal, copper and aluminium prices...
Balco plea to accept winning bid for Chhattisgarh mine rejected
The government has rejected a plea of Bharat Aluminium Company (Balco), a Vedanta group firm, to accept its winning bid for an auctioned coal mine in Chhattisgarh. The government had in March rejected bid by Balco citing low prices and handed over the mine to Coal India. The company had moved Delhi...
Mines auction likely from Oct-Nov; Centre clears 58 blocks in 12 Indian states
The much-awaited auction of mineral-bearing mines, including with iron ore and bauxite, is expected to start from October-November with the Centre handing over a list of 58 explored blocks to 12 producing states. "Mines auction is expected to begin from October-November. MECL has handed over...
Rio Tinto offers Australian miners free laser tech for high quality bauxite
Global mining giant Rio Tinto plans to share their non-confidential laser mineral analysis technology free of cost with the upcoming exploration companies in Australia to facilitate the discovery of high quality mineral reserves in the country. The technology was developed by geoscientists at the...
Rio Tinto half-year net profit plummets
Mining giant Rio Tinto on August 6 reported a 82% drop in its first-half net profit as a supply glut and slowing demand in key market China sent iron ore prices plunging. The Anglo-Australian firm, which reports in US dollars, said net profit was $806m in the six months to June 30 from $4.4bn in...
Metro Mining signs non- binding off-take agreement with China Xinfa Group
Brisbane based Metro Mining Ltd and China’s Xinfa Group have signed an Off-Take Memorandum of Understanding aimed at pre-committing half of Metro’s Bauxite Hills Project production for the first five years. Xinfa Group Ltd is a long standing major shareholder of Metro Mining. Whilst the initial...
Pahang’s bauxite mining areas under AELB’s scanner
The Atomic Energy Licensing Board (AELB) has taken samples of water, soil and bauxite in mining areas in Pahang said to be unleashing radioactive elements for analysis. Menteri Besar Datuk Seri Adnan Yaakob said the samples were taken last Aug 3 at the river and beach in Pengorak and the result...
Test run underway at Vietnam’s Nhan Co refinery plant
The Nhan Co refinery plant in the Central Highlands province of Dak Nong, Vietnam is running test productions through the end of September, said Head of the project’s management board Nguyen Thanh Liem on July 30. Constructed within a 65-hectare mine, the plant is designed to process more than 1.8...
Aziana Ltd.’s Manantenina Bauxite Project sale not to proceed
Aziana Limited informed their shareholders that the prospective sale of its Manantenina Bauxite Project will not be proceeding. The prospective buyer has today notified the company in writing of its intentions not to proceed. The company will continue to seek a commercial outcome for the project...
