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Aluminium News

Eskom says no firm power-contract deal yet for SA smelters

By: Terence Creamer     6th September 2010 State-owned power utility Eskom is no longer committing to a firm date for the conclusion of discussions with BHP Billiton relating to the contracts for the supply of electricity to the resources group's Hillside and Bayside aluminium smelters, in South Africa. In a response to questions posed... 

Alumina Limited CEO upbeat about demand, pricing 

By: Esmarie Iannucci     6th September 2010 Global alumina demand is expected to grow at around 12% for 2010, with improved pricing, John Bevan, the CEO of ASX-listed Alumina Limited said on Monday. However, he warned that some volatility could be expected. 

BHP Billiton's Southern African aluminium smelters going ex-growth?

By: Martin Creamer     25th August 2010 Southern Africa's aluminium smelters appear to be heading for an ex-growth future. BHP Billiton CEO Marius Kloppers, who has announced a 16%-higher $12,5-billion profit for the world's largest mining company in the 12 months to June 30, indicates that new "ubiquitous" aluminium technology and... 

Coffey Mining completes preliminary assessment 
of Ghana bauxite project

By: Jonathan Faurie     18th June 2010 Coffey International subsidiary, Coffey Mining, has completed a preliminary assessment of the Mamou-Dalaba bauxite project in Guinea, West Africa, on behalf of Canadian-based client Anglo Aluminium Corporation. 

Chinese miners active globally to feed economic growth at home

By: Keith Campbell     18th June 2010 China continues to need for natural resources to feed its economic growth, which remains essential because the country is still, on a per capita basis, very poor. The country has many minerals & metals resources of its own, but many are inadequate in volume or quality or both, hence the need... 

Guinea leader postpones Moscow trip, mining talk

By: Reuters     9th June 2010 Guinean Acting President Sekouba Konate postponed a visit to Moscow this week that was to have included talks with President Dmitry Medvedev, the Kremlin said. Konate's talks had been expected to touch on troubles Russian aluminium giant RUSAL has faced in Guinea, which is struggling to hold a... 

Mozal will ‘definitely' remain profitable despite ‘higher' power prices

By: Terence Creamer     31st May 2010 Resources group BHP Billiton says that its Mozal aluminium smelter, in Mozambique, will "definitely" remain profitable, despite an amendment to its favourable electricity-supply contract with South African power utility Eskom. The group confirmed with Mining Weekly Online that the power price... 

Base metals support remains in place – Natixis

By: Liezel Hill     14th May 2010 Although base metals prices have not escaped the effects of market volatility over the last couple of months, the factors that have supported the rebound in industrial metals in the last year “remain largely in place”, London-based Natixis Commodity Markets said in a report on Friday. Base-metal... 

Vedanta lifts FY output, says Zambia expansion project on track

By: Chanel de Bruyn     8th April 2010 Diversified-miner Vedanta Resources had achieved “significant” increases in the yearly output of all its business units, while work on the Konkola Deep Mine Project (KDMP), in Zambia, continued on schedule. The India-based miner on Thursday reported to shareholders that its attributable copper... 

BHP, Eskom review aluminium smelter power agreements 

By: Creamer Media Reporter      5th April 2010 The world's biggest mining company, BHP Billiton, and South African power utility Eskom will renegotiate controversial electricity supply agreements currently in place for BHP's aluminium smelters in South Africa and Mozambique. One option being considered is that BHP could assume responsibility... 

Aluminium smelters have yielded 'enormous' benefits, study shows 

By: Matthew Hill     25th March 2010 A previously confidential report, which has been released to Mining Weekly Online, offers an entirely different take on the value of BHP Billiton's aluminium smelters in Southern Africa, which critics largely blame for South Africa's prevailing power constraints. The 176-page Econometrix study... 

Minister declines to elaborate on Eskom's deals  

By: Sapa     19th March 2010 South African Public Enterprises Minister Barbara Hogan on Friday refused to reveal details of power utility Eskom's long-running contracts with foreign companies like BHP Billiton that contributed to the entity's R9,5-billion loss last year. Hogan told Parliament's portfolio committee on... 

Gold may average $950/oz this year - Natixis 

By: Liezel Hill     22nd February 2010 An average gold price of around $950/oz or even lower is possible this year if the global economic recovery gains pace, supporting conventional asset values and undermining assets like gold, which is seen as a store of value, London-based Natixis Commodity Markets said in a report on Monday.... 

Chinese mining giant on the prowl 
for copper investment opportunities

By: Keith Campbell     5th February 2010 China’s largest diversified mining company, the State-owned Aluminium Corporation of China (Chinalco), is looking worldwide for investment opportunities in copper, a metal which now has greater demand growth potential in China than aluminium. “Copper is our next main development target,” Chinalco... 

Rio Tinto sells controlling stake in Ghana bauxite unit

By: Liezel Hill     4th February 2010 Rio Tinto Alcan has sold its 80% holding in the Ghana Bauxite Company (GBC) to China's Bosai Minerals Group, the company announced on Wednesday. It did not disclose the terms of the sale.  

Rio Tinto criticises South Africa for Coega power pullout

By: Martin Creamer     2nd February 2010 Diversified miner Rio Tinto on Tuesday criticised South Africa for reneging on the Coega aluminium smelter agreement. Rio Tinto CE diamonds and minerals Harry Kenyon-Slaney told the Mining Indaba that South Africa's action was not condusive to attracting foreign direct investment (FDI) into the... 

Vedanta reports record Q3 production

By: Chanel de Bruyn     27th January 2010 Diversified-miner Vedanta Resources achieved record output volumes of zinc, lead, aluminium and iron-ore in the third quarter of its 2010 financial year. The London-listed company reported to shareholders on Wednesday that its iron-ore output reached a record 5,4-million tons in the three months... 

BHP Billiton quarterly iron-ore output up 11%

By: Creamer Media Reporter      20th January 2010 BHP Billiton produced 32,45-million tons of iron-ore in the last three months of 2009, an increase of 11% compared with the same period a year earlier, after Chinese demand for the steelmaking ingredient increased. “During the December quarter we saw strong price recovery across the commodity... 

Rio Tinto's Q4 iron-ore output jumps 49%

By: Chanel de Bruyn     14th January 2010 Diversified giant Rio Tinto’s iron-ore output surged by 49% in the fourth quarter of 2009, as a result of continued high demand from China, CE Tom Albanese reported on Thursday. “In the Pilbara [region] we achieved record sales for both the quarter and the full year and both global and Pilbara... 

Raw Materials Group predicts high metal prices in 2010 

By: Creamer Media Reporter      12th January 2010 Metal prices have likely bottomed out, and are expected to put in a strong performance this year, Swedish research group Raw Materials Group (RMG) said in its annual full-year forecast. "A falling market has been replaced by a market with physical demand and likely strong speculation over... 

Will the New Year ring in a deluge of deals?

By: Liezel Hill     11th December 2009 'Rollercoaster’ is a word that gets thrown around a lot these days, although it still has a long way to go before joining the well-worn ranks of the ubiquitous ‘green shoots’. Still, as mining executives reflect on their experiences in 2009, it would be difficult to argue with the aptness of the... 

Will the New Year ring in a deluge of deals?

By: Liezel Hill     11th December 2009 ‘Rollercoaster’ is a word that gets thrown around a lot these days, although it still has a long way to go before joining the well-worn ranks of the ubiquitous ‘green shoots’. Still, as mining executives reflect on their experiences in 2009, it would be difficult to argue with aptness of the... 

Chinese group commissions 150 000-t/y copper smelter in Zambia, despite economic slowdown

30th October 2009 Zambia’s President Rupiah Banda last week commissioned the Chambishi copper smelter, which is owned by China Nonferrous Metal Mining Group (CNMMG). 

Mixed reaction to Rio's decision to scrap SA smelter project 

By: Sapa     16th October 2009 Environmental organisation Earthlife Africa has welcomed the scrapping of Rio Tinto's plans for a smelter at Coega. In a statement on Friday, it said that "sense was beginning to reign in the South African energy sector". Late on Thursday, Eskom, the Industrial Development Corporation, the... 

Rio terminates SA smelter plan as Eskom power crunch bites 

By: Terence Creamer     15th October 2009 Global aluminium giant Rio Tinto Alcan and South Africa's power utility Eskom confirmed on Thursday that plans for the proposed $2,7-billion Coega smelter project, which was destined for South Africa's Eastern Cape province, had been terminated, owing to Eskom's capacity constraints. In a joint... 

Eskom says talks have been initiated with BHP about commodity-linked power contracts 

By: Terence Creamer     13th October 2009 South Africa's power utility Eskom confirmed on Tuesday that it was pushing ahead with plans to renegotiate commodity-linked electricity tariffs with resources groups, such as BHP Billiton, whose aluminium smelter investments in South Africa and Mozambique were premised on access to low-cost... 

Vedanta reports strong first-half production results

By: Chanel de Bruyn     8th October 2009 London-listed Vedanta Resources has significantly boosted production at the majority of its operations, as well as its sale of electricity, in the second quarter of the 2010 financial year, while its large capital expenditure projects remain on track. Iron-ore production increased by 27% to... 

SA contract miner clinches Zambia deal

By: Talent Ngandwe     2nd October 2009 Zambia’s largest copper producer, Konkola Copper Mines (KCM), has engaged South African mining contractor Moolmans to undertake mining operations at its Chingola openpit A. 

Aluminium losing its glister – BHP Billiton

By: Martin Creamer     16th September 2009 Aluminium was losing its appeal, BHP Billion chief commercial officer Alberto Calderon said on Wednesday. Calderon told Citigroup analyst Clarke Wilkins during a marketing briefing that the long-term issue with aluminium was that China was not only self-sufficient in the metal, but would also... 

Eskom’s Godsell seeking new deal with aluminium smelters, as secured with coal-miners

By: Martin Creamer     4th September 2009 Eskom is going all out to strike a new deal with its commodity-and-currency-linked customers and points to the success the State-owned utility has had with its coal-miner suppliers as a beacon of hope.  

Many world aluminium contracts similar to Eskom's – BHP Billiton

By: Martin Creamer     28th August 2009 The aluminium smelter contracts struck with South Africa's Eskom were similar to many contracts elsewhere in the world and should be valued on the entire duration of the agreement rather than on a single year, BHP Billiton said on Friday. In reporting an unprecedented R9,7-billion loss for the... 

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.  

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