Budget for 2014 is 9.2% lower than last year’s and well below the $18 billion total from 2011.
The Gove refinery has been struggling for a while, due mainly to low prices.
Market struggling with oversupply.
Deal includes developing a bauxite mine and alumina refinery in the west African country.
Aluminum-based alloy hydrides are light weight, non-toxic to plants and animals, and contain no volatile gas products, except hydrogen.
About 3,300 people would lose their jobs.
The mining giant is selling its 50.1% stake in Clermont coal mine to a company jointly owned by Glencore Xstrata and Sumitomo Corporation.
Wood Mackenzie also predicts the global base metals market will grow from 96Mt in 2013 to 122 Mt by the end of 2018.
Acquisition comes a day after Linc said it wants to get de-listed from the Australian market to re-list it in Singapore, in hopes of luring Asian investors.
Talks with Linc Energy Ltd are said to be at an advanced stage and an agreement may be announced as soon as tomorrow.
The move surprised investors, especially since Chalco had previously held the lease and was willing to develop the resource.
He won't be getting his full sign-on award shares worth US$1.5 million.
The CFTC is looking into claims that the warehouses intentionally increased buyer costs by slowing the movement of supply.
Cases against big banks to expose role played by the London Metal Exchange, say experts.
Commodities trader claims Jamaica firm won't send the alumina it still owes Glencore due to a new agreement with another firm.
FT's John Gapper writes: "This abrupt integration of metals trading and storage echoes how banks piled into subprime mortgages before the 2008 crisis."
US central bank reconsidering 2003 determination allowing banks to move into mining, processing, transportation and warehousing of metals and minerals.
About 500 jobs will be saved.
"Growing resource nationalism in many parts of the world makes Europe more attractive from a political risk point of view."
"Demand in South East Asia has been quite good, but I don't think there is that much of an improvement in Japan."
Ibrahima Touré and Issaga Bangoura have been in prison for over a month.
This is a landmark transaction for Vedanta, which is joining domestic peers in catching the flood of US dollars being unleashed by central banks.
The company's head of aluminum, Gary Fegel, is set to leave the company this summer.
The unconfirmed news came as a surprise for analysts as Fegel was reconfirmed in the post only weeks ago.
Project on the Cape York peninsula could produce up to 50 million tonnes per year.
"We need to squeeze returns from our installed infrastructure."
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