Aluminum
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Rio Tinto sells aluminum business for $185 million
In what it seems a move towards exiting the aluminum wire business, diversified miner Rio Tinto (LON & NYSE:RIO) announced it is selling its U.S.-based wire and cable business Alcan Cable to American company General Cable (NYSE: BGC) for $185 million.
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Global aluminum market to reach $112.3 billion this year: report
MINING.com Editor | May 22, 2012The value of the global aluminum market will reach $112.3 billion this year according to a new study published by Netherlands-based research company ADSReports.
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Protesters want Rio Tinto off the Olympic podium
Cecilia Jamasmie | May 10, 2012
A protest against London 2012 sponsor Rio Tinto (LON & NTSE:RIO), which has supplied the metal to make the Olympic and Paralympic medals, welcomed the company’s shareholders this morning in Brisbane, Australia, where the annual meeting of the company’s board was taking place.
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BHP merging embattled aluminum and nickel divisions
Cecilia Jamasmie | May 10, 2012
BHP Billiton (NYSE:BHP) added to market rumors that its nickel business is not relevant for the miner anymore by announcing yesterday it had merged the stainless steel materials unit with another struggling division: aluminum.
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Rio Tinto hopes to finalise alumina plant sale by September
Mineweb | May 1, 2012The transnational miner said Tuesday it hopes to complete the sale of four alumina plants in France and Germany by the end of September
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Rusal’s $43 billion seven-year Glencore deal feeds investor feud
Bloomberg | April 22, 2012United Co. Rusal (486), the world’s biggest aluminum supplier, is locked in to selling $43 billion of the metal to Glencore International Plc (GLEN) over seven years in a contract that’s fueling a feud among billionaire investors, four people familiar with the …
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Brazil's aluminum output went up 3.7% in March
Cecilia Jamasmie | April 19, 2012
Brazil's aluminum output in March went up 3.7% to 125,000 tonnes, according to the national aluminum association, Abal.
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Alufer Mining: Bauxite mine developer plans US$150-200 mln AIM IPO
Proactive Investors USA & Canada | April 17, 2012Alufer Mining is laying the groundwork for a listing on the AIM market that will value the Guinea-focused bauxite specialist at between US$150 and US$200 million.
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Alcoa BEATS earnings estimates, stock surges after hours
Business Insider | April 10, 2012Alcoa reported first quarter results that topped expectations on both the top and bottom lines as revenue surged to a record high, the company said this afternoon.
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The whole world is anxiously waiting for one detail from Alcoa's earnings announcement
Yahoo! Finance | April 10, 2012If you were thinking "supply," then you were wrong. Sure, Alcoa's investors will want to know when the global glut of aluminum will line up with demand.
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Russian billionaires clash over $47 billion aluminum supply deal
Andrew Topf | April 8, 2012Sual Partners Group, owned by Russian billionaire Viktor Vekselberg, is suing Rusal, the world's top aluminum producer and commodities giant Glencore over an aluminum supply deal worth some $47 billion.
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Alcoa to curtail refining capacity
Business Wire Natural Resources News | April 5, 2012Alcoa (NYSE: AA) announced today that the Company will reduce its annual alumina production capacity by approximately 390,000 metric tons to align production with smelter curtailments Alcoa announced earlier this year and to reflect prevailing market conditions.
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Oversupply forces Alcoa to cut 390,000 tonnes of annual alumina production
Michael Allan McCrae | April 5, 2012
Due to an oversupply in the Atlantic region, the world's third-largest producer of aluminum, Alcoa, announced that it was cutting 390,000 tonnes of production of alumina.
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Aluminum demand continues to lead base metals pack in 2012 13
CommodityOnline | April 1, 2012Aluminum should continue to outpace other base metals in 2012-13, despite softer demand for the past two quarters, said BNP Paribas, a Paris based global banking group.
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Deripaska ready to buy RUSAL's stake in Norilsk – source
Mineweb | March 26, 2012A source close to the matter says billionaire Oleg Deripaska is prepared to buy RUSAL's 25% blocking stake in Norilsk Nickel to resolve the shareholder row at the company.
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Ukraine Court Rules Against Rusal in Zalk Aluminum Plant Dispute
Brama Gateway to Ukraine | March 25, 2012Ukraine's government won a court hearing as it seeks to regain control over the Zaporizhskyi aluminum smelter from Russian billionaire Oleg Deripaska's United Co. Rusal. The Kiev Commercial Court ruled to overturn a sale agreement and return a 68.01…
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Australian explorer hunts for copper in Andes
Andrew Topf | March 22, 2012The Herald Sun has an interesting feature piece on Chinalco Yunnan Copper Resources, an Australian company with Chinese backing that is partnering with Rio Tinto on three early-stage exploration projects in Chile.
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Talks under way to end lockout at Rio Quebec smelter
Reuters | March 21, 2012Talks are under way to end a three-month lockout of workers at Rio Tinto Alcan's giant Alma aluminum smelter in northern Quebec as the two sides have been summoned to the negotiating table.
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World’s largest aluminum producer takes $1.4 billion writedown
Reuters | March 20, 2012HONG KONG/MOSCOW – RUSAL, the world’s top aluminium maker, took a $1.4 US billion hit in its 2011 financials on Monday on the value of its stake in Norilsk Nickel, whose fate is at the centre of a row between …
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RUSAL threatens to sue in chairman row
Reuters Africa | March 18, 2012RUSAL, the world's No.1 aluminium producer, said comments by former chairman Viktor Vekselberg had damaged its reputation and shareholder value, and threatened unspecified legal action.
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ABB wins $100 million power orders to boost production at Rio Tinto mines in Australia
ABB Group | March 13, 2012ABB, the leading power and automation technology group, has won orders worth around $100 million from Rio Tinto for 17 distribution substations to support increased production at iron ore mines in Western Australia.
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Rio Tinto to close its UK Lynemouth smelter
Cecilia Jamasmie | March 6, 2012
Rio Tinto Alcan, the aluminum division of Rio Tinto PLC (RIO) announced today it will close its Lynemouth aluminum smelter in Northumberland, England at the end of March, as part of its aluminum restructure plan.
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Vedanta consolidation to create world's 7th largest natural resources company
Andrew Topf | February 25, 2012
London-based Vedanta Group (LON:VED) announced Saturday a merger of two of its subsidiaries, Sesa Goa and Sterlite Industries, into a new corporate entity to be named Sesa Sterlite.
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International unionists to march in support of Rio Tinto locked-out Canadian workers
Cecilia Jamasmie | February 15, 2012
Unionists from around the world will gather in the Canadian city of Alma, Quebec, from March 30 to April 1, to express their support for locked-out Rio Tinto Alcan workers who are fighting to preserve decent jobs, said international unions representatives on Wednesday.
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Aluminium losing battle against oversupply
Reuters | February 10, 2012
Excess capacity in aluminium smelting will drag on for years to come, even while losses weigh on producers, as political pressures in China and Russia to keep jobs and push self-sufficiency prevent or delay plant closures.
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Rio boss waives bonus after huge write-down of aluminium assets – UPDATE
ShareCast | February 10, 2012Mining (Euronext: SMI.NX – news) giant Rio Tinto (Berlin: CRA1.BE – news) has hiked its full-year dividend by 34% after reporting record underlying earnings in 2011, but net earnings were held back by a massive $8.9bn impairment charge relating to its aluminium businesses, prompting the group's Chief Executive to forgo his annual bonus.
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ANNOUNCEMENT
Developments in Gossan’s Magnesium Project Paper Presented at the 69th World Magnesium Conference
Gossan Resources Limited's Technical Advisor, Dr. Zuliani, will be delivering a paper entitled, "Developments in the Zuliani Process for Gossan Resources’ Magnesium Project" at the 69th Annual World Magnesium Conference on May 22th in San Francisco. The conference, sponsored by the International Magnesium Association (IMA), focuses on current developments throughout all aspects of the magnesium industry. View Press Release -
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