Sunday was a proud day for Aboriginal people in Australia's Northern Territory, with the opening of a new bauxite mine.
BAUXITE Mining News
After pumping billions into the Indonesian mine for almost 25 years, Rio might be able to see a decent return as the country’s government plans to acquire the miner’s 40% stake in the coveted operation.
The country's reserves have been estimated at $60 billion for metallic and 40 billion for non-metallic resources.
New reports highlighting the environmental dangers posed by mineral exploitation at the Mining Arch have emerged, as Venezuelan officials try to convince Alrosa to invest in the project.
BMI Research raised the 2018 aluminium price forecast to $2,000/tonne, from a previous forecast of $1,900/tonne.
Alliance Mining Commodities will invest $670 million over the first five years of production at its mine in northwestern Guinea, Saadou Nimaga.
Delayed ramp-up at Escondida, mine sequencing at Kennecott.
Freeport agreed in August to divest a 51% stake in Grasberg to local interests in return for full operational control until 2041 plus fiscal and legal guarantees, but a final deal has still to be reached.
The ministry resumed exports of unprocessed minerals earlier this year and had started to roll out exports quotas in April.
Norsk Hydro is reopening a British plant in Wales to supply material for the country's first electric vehicle factory.
The company has greed to reduce its stake in the Grasberg mine to 49% in exchange for licenses to operate the massive copper and gold pit until 2041.
The deal comes after a trip by the Guinean mines minister, Abdoulaye Magassouba, to China and follows other major Chinese investments in the resource-rich West African nation.
The news around China’s pollution crackdown spiked investors concerns
Moratorium aims to restrict illegal mining activity on private land and companies that ignore mining guidelines, resulting in environmental pollution.
The funds from Beijing would contribute towards building 1,400 km of a planned 4,000 km railway network, which would connect bauxite mines and production sites.
Mining will commence in July at the Urquhart bauxite project in far north Queensland.
The Indonesian unit is now in the process of obtaining a full export permit.
The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.
Miner says that each month of delay in obtaining approval to export means production would be reduced by 70 million pounds of copper and 70,000 ounces of gold.
Government is considering to extend the miner a temporary permit, valid for up to six months, which would pave the way for Freeport to resume exports from Grasberg.
"The run-up in base metal prices, particularly after the US Presidential election, may be getting ahead of fundamentals."
Far-reaching new mining rules ease a controversial ban on exports of nickel ore and bauxite.
Villagers evacuated before tailings dam burst at aluminum refinery in Henan province destroyed nearby town.
"The global economy seems stuck in a subdued low-productivity growth pattern," says world's number two miner after reporting lowest earnings in 12 years.
Bauxite miners ride the wave as China steps up aluminum production.