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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Attorney General recommends cancellation of mining licenses on Rennell Island
The Attorney General Chamber is recommending cancellation of mining licenses on Rennell Island. A report produced by the Attorney General this week points to maladministration and irregularities in the granting of mining leases to Asia Pacific Investment Development (APID) and Bintang Borneo for...
Altech Chemicals appoints Castle as its Mining and Processing Partner
Altech Chemicals Limited announces that it has signed a Memorandum of Understanding (MOU) with mining services company, Castle Equipment Pty Ltd (Castle), appointing it as mining contractor and processing plant operator for the Company's aluminous clay (kaolin) deposit at Meckering, Western...
Queensland Bauxite drilling targets increased mine life at South Johnstone
Queensland Bauxite's current drilling program at the South Johnstone Bauxite Project in Queensland is targeting an increase in mine life. Drilling is aimed at further increasing the level of JORC Indicated and Inferred Resources. The Exploration Target area has a range of between 193 million tonnes...
Auriant Mining AB announces management changes
Auriant Mining AB is pleased to announce the following management changes effective from April 14: Sergey Baykalov is appointed as an Acting Chief Operational Officer and Igor Pashkov is appointed as the Chief Geologist of the Company. Vladimir Churin (Chief Geologist from 2012 to March 2015) will...
Ghana policy to add value to bauxite before export
The Ministry of Lands and Natural Resources plans to introduce a policy to ensure that no bauxite leaves Ghana in its raw state. The policy seeks to encourage exporters to process the mineral into alumina or alluminium before exporting it out of the country. Nii Osae Mills, the Sector Minister, who...
Alumina in a better space than iron ore
Credit Suisse upgrades Alumina AWC to "outperform" from "neutral" and says "it is our preferred ASX100 mining exposure". "Alumina fundamentals are much better than iron ore and AWC is moving into a strong dividend paying position with a yield of 8 per cent in CY15 rising to 13 per cent in CY17. "We...
UC RUSAL opens Russia’s deepest mine
UC RUSAL, a leading global aluminium producer, announces the launch of the first start-up complex at the Cheremoukhovskaya-Gloubokaya mine in the North Urals Bauxite Mine (“SUBR”). Cheremoukhovskaya-Gloubokaya becomes Russia’s deepest mine, with a depth of 1,550 meters, and ranks among the top five...
Mineral reserves must not cross 1.25 times the requirement of company
With the Mines and Minerals (Development and Regulation) Amendment Act, 2015 allowing the state government to specify an end-use for any mine, companies would not be eligible for auction if the mine’s mineral reserve is found to be exceeding 1.25 times their stated requirement over a period of 50...
Indian Government proposes 2-stage bidding process under Mines Bill
The Centre today proposed a two-stage bidding process to the states for auctioning major minerals like bauxite ore, with the highest revenue share offered in the first round becoming the base price for e-auction. In the first round, technically qualified bidders will be asked to quote the...
Aziana Limited selling its Manatenina bauxite project to Thankys Exports
Aziana Limited is selling off its Manatenina bauxite project of Madagascar to Thankys Exports Pvt. Ltd and a conditional sale agreement has been decided upon by the two parties. As per the conditions of the purchase, the buyer company will pay a total purchase amount of $2 million to seller company...
Nalco owes highest mining dues to the government: CAG report
The Comptroller and Auditor General of India has accused the Odisha state government of being too lax in their collection of revenue using modes like VAT, Entry Tax, Excise Duty and Mining Receipts causing an estimated loss of INR 4,713.63 crore for FY 2013-14. The mining dues alone are said to...
Deutsche Bank cuts valuation of BHP spin-off
Deutsche Bank has cut the valuation of BHP Billiton’s spin-off company South32 by $US2 billion. Deutsche mining analyst Paul Young says when South32 lists on the ASX it will be valued at $US11.2 billion instead of the expected $US13 billion. This amounts to $2 a share, well below investor...
Hudson reports robust Preliminary Economic Assessment (PEA) for specialty alumina production from the White Mountain anorthosite deposit
HUDSON RESOURCES INC. is pleased to announce the results of the Preliminary Economic Assessment ("PEA" or "Study") for the primary production of specialty grade alumina using White Mountain anorthosite as feedstock. The study was managed by John Goode, P.Eng. and incorporated the work of Arithmetek...
China Hongqiao expects 1st cargo from Guinea bauxite mine in Sept
China Hongqiao Group Limited , the country's second-largest aluminium producer, expects to receive the first shipment of bauxite ore from a joint venture mine in Guinea in September, its Chief Executive Officer Zhang Bo said on Monday. Bauxite is used to produce alumina, the base material for the...
Guinea cancels tender for ex-BHP bauxite permits
Guinea cancelled a tender for bauxite mining blocks that sources said had been won by a Chinese firm in partnership with figures in President Alpha Conde’s political party. The government did not give any reason on Thursday for cancelling the tender for the blocks in Boffa, some 150 km (93 miles)...
Australian Bauxite is on a roll with development of Campbell Town mining centre
Australian Bauxite (ABX) has been swift in developing its first bauxite mining centre near Campbell Town in Tasmania. Australian Bauxite mobilised the construction contractor to the site in December 2014 and was producing its first bauxite within three months. The new Campbell Town mining centre...
Indonesian government unsure about their stand on the bauxite export ban
The Indonesian government is in a fix about what to do with the mineral export ban since the announcement of a possible annulment of the ban caused mixed reactions. Said Didu, the head of smelter development acceleration team had said recently that the government is thinking of easing the bauxite...
Balco moves to High Court to contest against cancellation and reallocation of coal block
Bharat Aluminium Company (Balco) has moved to High Court to contest against the government’s decision to cancel the company’s bid for Gare Palma IV/1 and allot it to the state-owned Coal India Limited (CIL). Balco was the highest bidder for the Chhattisgarh coal block with INR 1585 a tonne but it...
