R/€ = 15.60 Change: 0.00
R/$ = 13.69 Change: 0.00
Au 1293.53 $/oz Change: 3.24
Pt 807.59 $/oz Change: 5.44

Aluminium News

Electricity discount to aluminium producers ‘unsustainable' – Eskom

By: Martin Creamer     27th August 2009 The discounting of electricity prices to aluminium producers was unsustainable and needed to be limited or removed, South Africa's Eskom said on Thursday. Presenting a record loss of R9,7-billion in its 2009 financial year to end March, the State-owned electricity utility said that the valuation... 

BHP Billiton returns massive $32bn to shareholders in seven years

By: Martin Creamer     12th August 2009 Diversified mining major BHP Billiton, whose record 2009 dividend represents a sixfold growth in seven years, has paid a massive $32-billion in cash to shareholders since BHP and Billiton merged in 2001, BHP Billiton CEO Marius Kloppers said on Wednesday. This year's dividend payout of... 

Belgium-based metals major moving into mining

By: Keith Campbell     3rd July 2009 BELGIAN metals company Nyrstar has announced that it is to expand into mining. This was revealed with the release of the company’s Strategic Review last week. Nyrstar is a major global multi-metals producer, and is the world’s biggest producer of zinc metal and alloys and a leading global... 

S&P launches global base metals index

By: Liezel Hill     25th June 2009 Index compiler Standard & Poor's (S&P) on Thursday launched its new S&P/TSX Global Base Metals Index, which aims to provide investors with an investable index of global securities involved in the production or extraction of base metals. The new index is a subset of the existing S&P/TSX Global... 

Metals industry's health depends on China – research firm

By: Creamer Media Reporter      12th June 2009 China’s role was now more “pertinent” to the health of the metals industry than at any other time in the last century, with the hope for the metals industries in 2009 resting with the Asian giant, independent research firm AME Mineral Economics said in its latest AME Focus newsletter. The... 

Base-metals outlook remains weak, gold price seen improving

By: Chanel de Bruyn     1st June 2009 Base-metals prices would likely remain weak in the short term, while the gold price would continue to improve towards the end of this year, analysts said on Monday. Ratings agency Standard & Poor’s (S&P’s) has revised the outlook for metals prices on the back of hopes for a global economic... 

Gold, base-metal M&A activity declined 25% in '08

By: Liezel Hill     12th May 2009 Total acquisition spending for deals bigger than $25-million in the base-metals and gold sectors fell by 25% last year, Metals Economics Group said on Tuesday. Base metals acquisitions spending in 2008 declined by 25%, to $32-billion, while gold acquisitions decreased by 26%, to $9-billion.  

Alumina raises $737m, says more than expected

By: Esmarie Iannucci     4th May 2009 Australia-based Alumina has raised $737-million through the institutional component of its accelerated pro-rata entitlement offer. Take up of the institutional offer was higher than expected, resulting in the institutional amount being greater than the previously anticipated figure. 

Dubal will buy stake in Vale alumina refinery

By: Liezel Hill     14th April 2009 Brazilian resources group Companhia Vale do Rio Doce has entered into a share purchase agreement with Dubai Aluminium Company Limited (Dubal), which will buy a stake in Vale's Companhia de Alumina de Pará (CAP). If the transaction, which is subject to “certain conditions”, succeeds, Vale will... 

Don’t melt down, go for ‘market-permitting’ growth

By: Martin Creamer     6th March 2009 Don’t meltdown, go for ‘market-permitting’ growth

Just as mining companies rushed to grow, in the main, they are now rushing to shrink. But not all of them. 

Aluminium gets $6,5bn boost from Obama's new-energy stimulus plan

By: Martin Creamer     27th February 2009 Aluminium was receiving a $6,5-billion boost from US President Barack Obama's economic stimulus expenditure on more electricity transmission lines that enable new renewable sources of clean wind and solar energy to be connected to the transmission grid, the US Aluminium Association said on... 

Expert calls for circumspection in deploying international mine closure toolkits

By: Leandi Kolver     20th February 2009 South African mining companies need to be careful when deploying international mine closure toolkits and must avoid simply transplanting ideas that might be relevant to another country, but are irrelevant to local circumstances, says the Centre for Sustainability in Mining and Industry’s... 

Chinalco would have liked stake in Alcan assets

By: Liezel Hill     13th February 2009 Aluminum Corp. of China would have included former Alcan aluminium assets in its investment agreement with Rio Tinto if it had been offered the opportunity, Chinalco president Xiao Yaqing said on Thursday. “Rio Tinto doesn't want to sell, otherwise we would very much have liked to invest,” he... 

Alcoa agrees on 'strategic cooperation' with Chinese province

By: Liezel Hill     13th February 2009 NYSE-listed aluminium producer Alcoa has formed a strategic cooperation agreement with the government of China's Henan province, the firm announced on Thursday. Alcoa, which said earlier in the day it would sell its stake in Rio Tinto to partner Chinalco to improve its balance sheet, has agreed... 

Rio Tinto confirms Chinalco talks

By: Liezel Hill     11th February 2009 Diversified miner Rio Tinto confirmed on Wednesday that it is in negotiations with shareholder Chinalco “which may or may not lead to any agreement being reached”. A further announcement will be made “shortly”, Rio said. 

Downside risk remains for manganese, despite cutbacks - BHP Billiton

By: Martin Creamer     4th February 2009 Downside risk in manganese volume projections was continuing into the second-half, despite the cutbacks that had already been made, BHP Billiton CEO Marius Kloppers said on Wednesday. Kloppers said that BHP Billiton was already operating its manganese business at virtually half of its available... 

Vedanta earnings plummet 98% on lower metal prices, writedowns

By: Chanel de Bruyn     28th January 2009 Despite achieving record production volumes of zinc and aluminium, lower London Metals Exchange (LME) prices have led to a "challenging" third quarter for LSE-listed base-metals producer, Vedanta Resources. Reporting on the company's performance in the third quarter ended December 31, Vedanta... 

Rio Tinto Alcan wraps up sale of stake in Chinese venture

By: Creamer Media Reporter      26th January 2009 The aluminium branch of diversified miner Rio Tinto, Rio Tinto Alcan, has sold its 50% stake in the Alcan Ningxia aluminium joint-venture (JV) in China for $125-million. The miner announced on Monday that it had sold its stake in the 160 000 t/y project to the Qingtongxia (QTX) aluminium group. 

OSC orders HudBay vote on Lundin deal

By: Liezel Hill     23rd January 2009 The Ontario Securities Commission has set aside a decision by the TSX and ordered Canadian base-metals miner HudBay Minerals to hold a shareholders' vote on its plans to buy Lundin Mining. 

Rio Tinto Alcan announces further 6% cut in output

By: Liezel Hill     20th January 2009 Diversified miner Rio Tinto will reduce aluminium production from its Alcan unit by another 6% and cut about 1 100 jobs, in a move to conserve cash in light of falling prices and demand. “Our goal is to align production with customer demand and reduce our operating costs as much as possible,”... 

Rio Tinto says Anglesey to close smelter before year-end

By: Esmarie Iannucci     15th January 2009 Diversified mining giant Rio Tinto on Thursday stated that aluminium producer Anglesey Aluminium Metal, in which it has a 51% stake, would be ending smelting operations at the end of September, when its current power contract expired. Wales-based Anglesey has worked intensively with UK... 

Jacynthe Côté will replace retiring Evans as Alcan chief

By: Liezel Hill     12th January 2009 Diversified miner Rio Tinto has named Jacynthe Côté as CEO of its Alcan aluminium unit, replacing Dick Evans who will retire on April 20. Côté is currently president and CEO of Rio Tinto Alcan's primary metal division.  

Aluminium demand decelerates dramatically, but still growing

By: Keith Campbell     12th December 2008 CHINESE demand for primary aluminium is forecast to continue to increase next year, despite the global downturn, although at a very much reduced rate in comparison to last year. 

HudBay says Jaguar's demand for shareholders' meeting 'not valid'

By: Liezel Hill     11th December 2008 Base-metals miner HudBay Minerals said on Thursday that a request from merchant bank Jaguar Financial that the company call a shareholders' meeting does not satisfy certain conditions, and is therefore invalid. Jaguar opposes HudBay's plan to acquire fellow Canadian Lundin Mining, and has... 

Rio Tinto to build new $228m power turbine in Quebec

28th October 2008 Diversified-miner Rio Tinto will spend $228-million on a new 225-MW turbine at the group's Shipshaw power station, in Saguenay, Quebec. The project is expected to be completed by December 2012.  

Subprime panic weakens base metals demand

By: Irma Venter     24th October 2008 Activity in the base metals sector has been dominated by the continued fall-out from the subprime crisis - this according to London-based Natixis Commodity Markets’ (NCM’s) fourth quarter metals review. 

Rio Tinto commits another $300m to BC smelter upgrade

By: Liezel Hill     22nd October 2008 Diversified-miner Rio Tinto will spend an additional $300-million to expand and modernise its Kitimat aluminium smelter, in British Columbia, Canada, the group announced on Wednesday. Rio Tinto has now committed more than $500-million to increase capacity at the smelter by 63%, to 400 000 t/y of... 

Long-term outlook still positive, but near-term spend reviewed – Rio Tinto

By: Martin Creamer     15th October 2008 While the long-term mining outlook remained positive, the current market upheaval provided an opportunity for a review of near-term capital expenditure and project costs, diversified mining major Rio Tinto CE Tom Albanese said on Wednesday. Albanese said that Rio Tinto had continued to perform... 

Outlook for global mining industry positive – US CEOs

By: Brindaveni Naidoo     10th October 2008 CEs of the US coal, minerals and mining equipment companies described the state of the mining industry a positive both in the US and globally, as growth in the developing world continues to fuel demand for coal, minerals and mining equipment. 

Long-term outlook for commodities strong, despite short-term volatility - Argus

By: Mariaan Webb     16th September 2008 Don Argus, the chairperson of the world’s largest diversified miner, BHP Billiton, was confident that the longer-term outlook for commodities was strong, despite some short-term volatility. Argus said that mining stocks had seen a “significant” derating since May on the back of short-term... 

Sentiment changes as the demand side weakens

By: Irma Venter     12th September 2008 The fact that some base metal prices have fallen by more than 50% in recent months, highlights the fact that investment activity in the market can turn quickly from being bullish to bearish, reports London-based Natixis Commodity Markets (NCM) in its third quarter metals review. 

Sallies turns around as fluorspar price hits $400/t high spot  

By: Martin Creamer     11th September 2008 The turnaround of troubled fluorspar-miner Sallies was coinciding with a dramatic surge in the spot price of the mineral to $400/t-plus, Sallies CEO Tom Dale said on Thursday. Dale said that the JSE-listed Sallies had already succeeded in negotiating higher prices for its fluorspar and would be... 

Africa to have highest rate of urbanisation – Chamber of Mines

By: Martin Creamer     10th September 2008 Africa would have the highest rate of urbanisation in the next 50 years, creating ongoing demand for metals and minerals, South African Chamber of Mines economist Roger Baxter said on Wednesday. Baxter told the Mining Summit in Johannesburg that the majority of the three billion people that... 

Hillside smelter employees to get 15% wage increase - union

2nd September 2008 Global resources company BHP Billiton has approved a 15% wage increase for employees at its Hillside Aluminium smelting plant, a trade union said on Tuesday. 

Chinese urbanisation influx keeps demand for Rio Tinto products strong

By: Matthew Hill     26th August 2008 China might have to build from 40 000 to 50 000 skyscrapers by 2025 to meet the needs of the country's urbanisation influx, diversified miner Rio Tinto CE Tom Albanese said on Tuesday. This would require, he noted, “a lot of steel, copper and aluminium”. “These are the numbers that are keeping... 

'Powered' Coega smelter viable, 'all for' using its SA coal for power – Rio Tinto  

By: Martin Creamer     26th August 2008 The construction of an aluminium smelter at Coega in South Africa was a “viable opportunity” with power and the company was “all for” supporting the development of a power generation plant from its “attractive” energy coal discovery in South Africa’s Limpopo province, Rio Tinto CEO Tom Albanese... 

Perception that miners do not receive support from DTI is erroneous – Deloitte

By: Leandi Kolver     22nd August 2008 There is a perception in the mining industry that it does not receive adequate support from the Department of Trade and Industry (DTI), in the form of grants because there is a special capital expenditure tax deduction system available for mining companies. 

BHP says Rio takeover makes ‘more sense than ever’

By: Matthew Hill     18th August 2008 Resources colossus BHP Billiton said on Monday that a merger with smaller rival Rio Tinto “makes more sense than ever”, and that its original acquisition timetable remained intact. CEO Marius Kloppers said that BHP Billiton remained focused on seeing the deal through to conclusion, which he... 

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