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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Landowners receive $200,000 for bauxite mining
The Naita land owning unit of Lekutu, Bua to date received a total premium of $200,000 from bauxite mining works on their land. Lekutu landowner Tevita Raiova said the premiums covered the roads, land lease and bauxite ore extracted from their land. Mr Raiova confirmed they were yet to receive...
APID faces possible lease cancellation despite paying all dues, claims company
Four shipments of bauxite have been shipped out by Asia Pacific Investment Development appointed Bintan Mining SI Limited from its Rennell operations according to custom reports. A total of $1.2 million has been paid as export duty to the government for the China bound shipment dispatched in...
Gujrat Mineral Development Corporation saw boost in shares after bulk deal
GMDC or Gujrat Mineral Development Corporation engaged in exploration and development of mineral resources like bauxite rose 1.24% to INR 97.95 at 11:56 IST on BSE, after 0.44% equity changed hands in a bulk deal on the BSE on 8th May 2015. The stock had underperformed the market over the past one...
Nawailevu landowners will get their fair share of money - Mere Vuniwaqa
Public consultations will be held soon on the determination of the fair share of royalty to be paid to the Nawailevu landowners where bauxite mining is currently underway. This has been confirmed by Lands and Mineral Resources Minister Mereseini Vuniwaqa following questions raised by SODELPA...
Another Solomon bauxite miner may lose lease
The Solomon Islands Government is threatening to cancel a company's lease to mine bauxite on Rennell Island. It would be the second such cancellation after the government last week withdrew the lease of PT Mega Bingtang Borneo for its failure to meet the conditions laid down by the Mines and...
Alpart ready to export bauxite to Rusal as it awaits its December 2016 reopening
Timothy O’Driscoll has been promising the reopening of the Alpart alumina refinery ever since he took over as managing director in 2009. Although there is still an expected 18-19 months time for that dream to be realized, last Thursday there was a glimmer of hope with the visit of Phillip Paulwell....
Noranda eyes boost in bauxite exports, but tax matter unresolved
Now that it has completed the expansion of its port in Discovery Bay, St Ann, Noranda Aluminum Holding is looking at boosting bauxite exports from Jamaica. Its current lease gives it room to sell at least an additional 400,000 tonnes of bauxite each year, but the company suggested that it might go...
BHP's South32 risks tough market debut
BHP Billiton's shareholders are expected to approve the biggest ever spin-off in the mining industry on Wednesday, seeking to wring more value out of a string of long-neglected aluminium, manganese, silver and nickel assets. But the new company, South32, risks a tough May 18 debut on the Australian...
L&T presses for ML over two bauxite deposits
Engineering and construction giant Larsen & Toubro (L&T) has made a renewed bid to secure mining rights over Sijimali and Kutrumali bauxite deposits across Kalahandi and Rayagada districts after the enforcement of the Mines & Minerals (Development & Regulation) Act, MMDR Act, 2015. Since L&T...
Altech Chemicals Ltd publishes March 2015 Quarterly Report
Altech Chemicals Ltd publishes March 2015 Quarterly Report on 30th May. Highlights of the report: Altech appoints BFS partners and key suppliers for HPA operation • Seatram appointed as Altech's transport and logistics services provider • M + W Group appointed as the EPCM partner to facilitate...
Aurum Exploration Limited in Fiji says it has paid royalties
A mining company in Fiji being accused of not paying royalties to landowners says it has handed over about 670,000 US dollars to the government. Landowners in Fiji's northern division say they have not received any royalties from a bauxite mine run by Chinese company Aurum Exploration Limited since...
Antam may receive financing from Chinese lenders
Antam may soon receive financial aid from China Development Bank (CDB) and Industrial and Commercial Bank of China (ICBC) worth US$ 50 billion according to reports. The company is struggling with its finances and production maybe stalled in the absence of adequate funding sine the House has...
Fiji landowners accuse Aurum Exploration of not paying due royalties
The Chinese company Aurum Exploration Limited has secured its third bauxite mining site in Fiji after a great success with the first site at Nawailevu and starting processes for the second site at Letuku. However, the locals are not entirely happy with the company and there are complaints about the...
Mining lease issued for the third and largest bauxite site in Fiji
The third bauxite mining site in Fiji has been issued a lease making it the largest site so far in the Northern Division region. Nawailevu was the first site being mined by the Chinese company Aurum Exploration Limited and has yielded almost 1 million tonnes of bauxite. Rehabilitation work has also...
China hunts for bauxite under coal fields as shallow-buried resources deplete
China’s demand for bauxite buried below coal fields is growing rapidly with shallow-buried resources are running out, Shanghai Metals Market has found. New bauxite reserves in the west of Caoyao coal field in Mianchi County, Henan, exceed 160 million tonnes, a survey conducted during 2011-2013...
Solomon Islands to impose 20% export duty on bauxite shipments
At the Public Accounts Committee (PAC) hearing, the Permanent Secretary (PS) for Ministry of Finance & Treasury (MoFT) of Solomon Islands has announced that the export duty on bauxite shipments will be raised by 20%. The statement was in response to the question posed by the Chairman Rick Hou...
Glencore reportedly frozen out of Aurukun bauxite rights negotiation
Reports are being heard that Glencore has been frozen out of negotiations with the traditional owners of the Aurukun bauxite developers and has been issued a legal letter informing them that there will be no negotiation regarding mining with anyone else other than Australian Bauxite Developers....
Morangup locals form Avon and Hills Mining Awareness Group
Worried Morangup locals have formed an awareness group after raising concerns about a possible development in their community. Morangup borders the Avon Valley National Park and has Toodyay 30 kilometres to its east. Calling themselves the Avon and Hills Mining Awareness Group (AHMAG), the...
