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Aluminium News

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... 

BHP Billiton expects commodity markets to remain robust

By: Matthew Hill     18th August 2008 BHP Billiton, the world’s biggest resources company, on Monday reiterated its upbeat outlook on the commodities markets, as demand keeps growing, and companies struggled to bring on new supply. CEO Marius Kloppers said that “people are way too optimistic on the speed of which new projects can... 

Vimetco buys Sierra Leone bauxite mine for $40m 

By: Creamer Media Reporter      25th July 2008 Aluminium producer Vimetco on Friday announced it had acquired Global Aluminium Limited, including a subsidiary bauxite mine, from Titanium Resources Group for $40-million, which was seen as further progress in achieving full vertical integration. A Global Aluminium subsidiary owned the bauxite... 

Camec’s full-year profit jumps

By: Matthew Hill     17th July 2008 Diversified resources firm Central African Mining and Exploration Company (Camec) rose 4,6% on London’s Aim, after it reported on Thursday that it had boosted its pretax earnings for the year ended March 31 by 219% to £54,8-million. Net profit rose to £39,06-million, from £14,22-million a year... 

Supply fears push aluminium to three-month high

By: Reuters     20th June 2008 Aluminium prices jumped to a three-month high on Friday as investors bought on news a US producer shut down about half its capacity, while copper hit a one-month high. Benchmark aluminium on the London Metal Exchange hit $3 158 a tonne, its highest level since March 14. It was trading up at $3... 

Zim loses 500 skilled personnel, may not enrol new mining, engineering students

By: Oscar Nkala     20th June 2008 Zimbabwe’s mining sector has lost over 500 technically skilled and experienced personnel over the last year alone, a recent survey conducted by the Chamber of Mines reveals. 

Rio Tinto pours first metal at Oman aluminium smelter

By: Liezel Hill     12th June 2008 The Sohar aluminium smelter, in Sohar, Oman, has poured its first metal and is expected to reach full production, at an initial 360 000 t/y, in December, diversified miner Rio Tinto said on Thursday. 

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Rio confirms SA aluminium smelter delayed to 2012

By: Christy van der Merwe     29th May 2008 Aluminium producer Rio Tinto Alcan on Thursday indicated that it expected its Coega aluminium smelter to only come on line in 2012. Rio Tinto Alcan Aluminium CEO Dick Evans said that South Africa's power constraints meant that the energy-intensive project on the country's South East... 

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