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Aluminium News

Ex-Arconic CEO targeted Elliott founder's alleged World Cup antics

By: Reuters     21st April 2017 The letter by Arconic CEO Klaus Kleinfeld that led to his resignation earlier this week focused on the alleged behaviour of Paul Singer, founder of $33-billion hedge fund Elliott Management, at the 2006 World Cup in Berlin. Elliott, which had launched a proxy battle against the specialty metal... 

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can he no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012 that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, as against India’s 7.6%, the... 

Despite slower growth, China still key market for miners and Africa

Supply disruption hits Vedanta's aluminium plant in eastern India

By: Reuters     20th April 2017 Diversified miner Vedanta said on Thursday its 500 000 t aluminium smelter in the eastern state of Odisha was hit by a power outage this week that damaged over one-third of its processing capacity. The company said 228 out of a total of 608 pots that process molten aluminium were damaged by the... 

India raises $186m from Nalco share sale, kicks off FY18 asset sale process

By: Reuters     20th April 2017 India raised 12-billion rupees ($185.7-million) from a 9.2% stake sale in state-run National Aluminium Co (Nalco), the government said on Thursday, kicking off its asset sale programme for the new financial year. The finance ministry aims to raise a total 725- billion rupees through sale of... 

Alcoa swaps New York for the city of steel as Harvey simplifies

By: Bloomberg     20th April 2017 Alcoa is giving up the glamour of New York City and going back to Pittsburgh, as new CEO Roy Harvey steps up efforts to streamline the aluminium maker. Changing headquarters and closing seven locations across the US, Europe and Asia is part of a push to lower costs after the producer of the... 

Arconic CEO resigns amid pressure from Elliott

By: Reuters     17th April 2017 US specialty metals maker Arconic Inc's chief executive, Klaus Kleinfeld, resigned on Monday amid attempts by activist hedge fund Elliott Management to replace the company's directors and top executives. Arconic's shares rose as much as 9.8% to $28.44 in early trading. 

Early milestone reached at Guinean bauxite project

     14th April 2017 Aluminium producer Emirates Global Aluminium (EGA) has achieved an early milestone in the development of its bauxite mining and export project in Guinea, following the completion of land-raising work in Kamsar. The work is the first contract to be completed on its $1-billion investment in a mine,... 

Early milestone reached at Guinean bauxite project
YOUSUF BASTAKI This early milestone shows good progress in the project, which will boost Guinea’s economy

Guinea stable, predictable investment destination – Ministry

By: Johane Turkstra     14th April 2017 Guinea is suitable for mining investment, says the Guinea Ministry of Mines and Geology, which will host Symposium Mines Guinea 2017 in Conakry, the country's capital, next month, in partnership with emerging markets-focused business-to-business event organiser AME Trade. The Ministry says the... 

Guinea stable,  predictable investment destination – Ministry
SHARING VISION The yearly Sumposium Mines Guinea conference reflects government of Guinea’s vision of transformational investment

Law firm aides two major Guinea projects

     14th April 2017 Global law firm Norton Rose Fulbright’s teams in London, New York, Paris, Singapore and Washington have successfully advised on two mining projects in Guinea. The team assisted bauxite producer Compagnie des Bauxites de Guinée (CBG) in reaching financial close for the financing of its Sangaredi... 

Law firm aides two  major Guinea projects
Photo by Bloomberg
CASHED UP Compagnie des Bauxites de Guinée reached financial close for the financing of its Sangaredi bauxite mine’s expansion

Major contract secured for Guinea bauxite plant

     14th April 2017 A major contract, valued at about €100-million, has been secured by German integrated solutions provider to the global mining, bulk materials handling and minerals industries Tenova Takraf for the turnkey supply and installation of a bauxite handling plant in Guinea, West Africa. The plant, for... 

Major contract secured for Guinea bauxite plant
BAUXITE PLANT IN GUINEA The Compagnie des Bauxites de Guinée plant is scheduled for commissioning in the second half of 2018

W African countries underperformers in SSA risk/reward rating

     14th April 2017 Mining in sub-Saharan Africa (SSA) is most under strain in West Africa, according to research firm BMI Research, a Fitch Group company. BMI published its ‘Industry Risk/Reward Index (RRI) – sub-Saharan Africa (SSA) Mining: Future Sector Growth to be Hampered by Business Environment’ report on... 

W African countries underperformers in  SSA risk/reward rating
BOTTOM OF THE LOG Sierra Leone, Liberia and Mauritania are the bottom three countries on BMI Research’s sub-Saharan Africa mining Risk/Reward Index

Scotiabank’s commodity price index gains 2.2% in February

By: Creamer Media Reporter      13th April 2017 The Scotiabank Commodity Price Index gained 2.2% month-over-month in February as industrial commodities continue to benefit from healthy demand on the back of a stronger global economic outlook, while supply-side idiosyncrasies continue to provide opportunity for differentiation, the banking... 

LatAm water scarcity, pollution to drive more stringent enviro rules

By: Henry Lazenby     12th April 2017 New analysis by the research arm of the Fitch Group, BMI, forecasts water scarcity and contamination in Latin America will drive increasingly stringent environmental regulations in the region over the coming years. While increasing the costs for miners and delaying certain projects, the focus on... 

LatAm water scarcity, pollution to drive more stringent enviro rules

Rio Tinto sees bumpy ride for aluminum as China poses puzzle

By: Bloomberg     5th April 2017 Rio Tinto Group’s aluminum boss sees prices for the lightweight metal heading for an “extremely” volatile period, with uncertainty over when China will curb production helping to keep investors on edge. “That’s really where the uncertainty is at the moment,” Alfredo Barrios said in an interview... 

Orbite Technologies to file for bankruptcy protection

By: Henry Lazenby     4th April 2017 Quebec clean-technology firm Orbite Technologies has filed a notice of intention (NoI) to make a proposal under the Bankruptcy and Insolvency Act, thereby imposing an automatic 30-day stay of proceedings that will protect the company and its assets from the claims of creditors while the company... 

London Metal Exchange imposes $1.4m fine on Glencore warehouse unit

By: Reuters     31st March 2017 The London Metal Exchange (LME) imposed a $1.4-million fine on the metals warehouse unit of commodity group Glencore on Friday, for falsifying documents detailing zinc movements from New Orleans. The LME, the world's oldest and largest market for industrial metals, said Glencore's Access World... 

Mining showing tentative improvement off low base – chamber

By: Martin Creamer     30th March 2017 The fourth quarter mining financial statistics data released by Statistics South Africa (Stats SA) confirm the tentative improvement in the sector’s financial conditions during 2016, but off a very low 2015 base and with huge swings in performance. In 2016 rand terms, mining’s profits before... 

Mining showing tentative improvement off low base – chamber
Photo by Duane Daws
Chamber of Mines economist Henk Langenhoven

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     23rd March 2017 Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

EIUG supports Eskom plan for new pricing deals with power-intensive firms 

By: Terence Creamer     22nd March 2017 The Energy Intensive User Group of Southern Africa (EIUG) believes there is policy, legislative and regulatory space to introduce new electricity pricing arrangements to help restart of idle mining and process-industry activities, as well as encourage new investments to absorb Eskom’s surplus,... 

EIUG supports Eskom plan for new pricing deals with power-intensive firms

Certification grows company’s sales, ups market share

By: Victor Moolman     10th March 2017 Valve and steel supplier Stewarts & Lloyds South Africa (S&L SA) has grown its market share in South Africa after receiving South African National Standards (SANS) certification for its RSV gate valves, reporting a 40% increase in SANS-approved valve sales since receiving certification last year. 

Certification grows  company’s sales,  ups market share
SERVICE DELIVERY Stewarts & Lloyds attributes its strategically located branch network to always being able to ensure minimal downtime for customers

BofAML warns of rising headwinds for commodities

By: Henry Lazenby     9th March 2017 Bank of America Merrill Lynch (BofAML) cast a pall on the budding optimism seen at the recent Prospectors and Developers Association of Canada’s yearly convention, in Toronto, saying that the commodity market, in general, is transitioning from tailwinds to headwinds this year. In its ‘Global... 

African mining delegation closes TSX

By: Henry Lazenby     9th March 2017 An African mining delegation, comprising government officials and mining companies, rang the closing afternoon bell of the TSX on Wednesday afternoon during the yearly Prospectors and Developers Association of Canada international convention. The delegations joined TMX Group global equity markets... 

African mining delegation closes TSX

‘What a difference a year makes’ – analysts outline mostly strong commodity fundamentals despite uncertainty

By: Henry Lazenby     7th March 2017 “What a difference a year makes,” John Butcher, principal economist at commodity consultancy Wood Mackenzie exclaimed during a technical programme at the Prospectors and Developers Association of Canada’s yearly convention this week. While global economic growth came in at a disappointing 2.3% in... 

Stakeholder engagement key to African development success

By: Henry Lazenby     7th March 2017 Capital for development ebbs and flows with global economic cycles, pushing to the fore the need for long-term regulatory security when it comes to multinational miners developing projects in Africa, said Ashanti Gold CEO and director Tim McCutcheon during a panel discussion on Africa’s mining... 

Stakeholder engagement key to African development success

Uncertain politics, policy development permeates commodities price outlook 

By: Henry Lazenby     3rd March 2017 A common factor in the outlook for most commodities included in The Bank of Nova Scotia Commodity Price Index is the outsized near-term importance of highly uncertain politics and policy, the group’s commodity economist Rory Johnston said in a special report of the Commodity Price Index this... 

Uncertain politics, policy development permeates commodities price outlook
Photo by Reuters
Gold is expected to trend sideways for most of 2017 and 2018, as rising rates, a stronger dollar, and a generally sanguine investor outlook despite significant political uncertainty all pose headwinds for the yellow metal

Drilling services provider declares Indaba ‘great success’

By: Simone Liedtke     3rd March 2017 The 2017 Investing in African Mining Indaba was a “great success” for drilling services and equipment, including for performance tooling provider Boart Longyear, as it secured deals and has several prospective projects to follow up on, says general sales manager Andre van Heerden. 

Drilling services  provider declares  Indaba ‘great success’
TRUCORE The core-orienation tool is easy-to-use, highly accurate and features wireless communication, a corrosion-resistant steel body and a field-replaceable battery

Facilitating investor support ahead of upturn in cautious market

By: Simone Liedtke     3rd March 2017 The main goal of the 2017 Investing in African Mining Indaba was to help position businesses in industry to take advantage of the expected market upturn by securing investor support, event organiser Mining Indaba MD Alex Grose tells Mining Weekly. 

Facilitating investor support ahead of upturn in cautious market
HEART OF DEALMAKING The Investing in African Mining Indaba provides a platform for mining companies to communicate their objectives with investors

Proactive healthcare can yield a return on investment for miners

By: Simone Liedtke     3rd March 2017 Cost containment is one of the key drivers for mining companies in the current economic climate, causing medical and healthcare services to become reactive purchases, according to medical and healthcare service provider International SOS medical director Dr Charl van Loggerenberg, who spoke to... 

Proactive healthcare can yield a return on investment for miners
NOT GRUDGE PURCHASE There are tangible benefits in investing in a healthcare strategy

Water resources under increasing pressure, bad news for mining

By: Simone Liedtke     3rd March 2017 Global water resources are being placed under increasing pressure, driven by factors like climate change and population growth, and mines risk having ‘stranded assets’ that cannot be developed without water, despite concerted corporate action and technological improvements. 

Water resources under increasing pressure,  bad news for mining
CLEMENCE MCNULTY Water is becoming a critical constraint to mine and socioeconomic development

New minerals head appointment sets cat among mining pigeons 

By: Martin Creamer     2nd March 2017 The Chamber of Mines said on Thursday that it had been caught by surprise by the appointment of the new director-general of the Department of Mineral Resources (DMR). While the chamber acknowledged that the appointment of the director-general was the prerogative of the Minister, it believed that... 

New minerals head appointment sets cat among mining pigeons
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter with Senior Public Affairs Executive Tebello Chabana

Cabinet discusses new minerals director-general, mine water and mine town steps

By: Martin Creamer     2nd March 2017 The Cabinet this week endorsed the appointment of Advocate Thabo S Mokoena as the new director-general of the Department of Mineral Resources (DMR), a position that has been vacant for more than a year, and also approved the gazetting of a draft mine water management policy for public comment, as... 

Cabinet discusses new minerals director-general, mine water and mine town steps
Eastern Basin acid mine drainage plant in Springs

Price weakness stemmed from excess capital dole out – Glencore

By: Martin Creamer     27th February 2017 The commodity price weakness from 2012 to 2015 was the result of an over-allocation of capital from 2006 to 2012, Glencore CEO Ivan Glasenberg told an American audience on Monday. In an address to the BMO Metals and Mining Conference, in Miami, Glasenberg said that capital over-allocation in the... 

Price weakness stemmed from excess capital dole out – Glencore
Glencore CEO Ivan Glasenberg

Rapid energy access needed in Southern Africa

     24th February 2017 The rebound in commodity prices should usher in new projects as well as the expansion of existing operations in Southern Africa’s mining industry, but the region, counteractively, has an insufficient power supply, says fast-track mobile turbine power provider APR Energy regional sales director... 

Arconic sells majority of its stake in Alcoa Corp

By: Henry Lazenby     17th February 2017 NYSE-listed specialty alloys manufacturer Arconic has sold about 60% of its 19.9% stake in its former downstream business segment Alcoa Corp for $890-million. Arconic, which makes lightweight, high-strength components for the aeronautics and automotive industries, sold 23.35-million of the... 

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

MAC laments Canada’s declining mining competitiveness
Photo by Agnico Eagle Mines
Agnico Eagle's Meadowbank mine, Nunavut

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

Convention aims to bridge communication gap
EIGHTY-FIFTH CONVENTION Prospectors and Developers Association of Canada's 2017 convention will feature more than 400 exhibitors at the investors exchange and 500 at the trade show

Digitisation of project management imperative for project success

By: Victor Moolman     17th February 2017 Business management consultant SSG Consulting will continue to focus on project management and execution as its core business this year, with the intent of increasing its drive to further improve operational throughput of organisations and projects by 30% to 50%, despite the challenges facing the... 

Digitisation of project management imperative for project success
Photo by Duane Daws
MINE UPGRADES The adoption of big data, cloud, business intelligence, artificial intelligence, mobile technology and the digitisation of business will be the primary driver of successful organisations over the next five years

Group to split to improve customer focus

     17th February 2017 Swedish sustainable productivity solutions provider Atlas Copco will create a new company focused on mining and civil engineering, should it receive backing at its annual general meeting in April. 

Group to split to improve customer focus
STREGTHENING FOCUS Mining and Rock Excavation Technique and Construction Tools are expected to benefit from a more focused management responsibility
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