Global Alumina Receives $42.2 Million Deferred Subscription Payment
Global Alumina Corporation, a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea (the “Project”), announced that it has received the aggregate first deferred subscription payment from its joint venture partners of approximately $42.2 million. The payment has been placed in Global...
Global Alumina Announces Updated Interim Project Budget
Global Alumina Corporation, a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea (the “Project”), announced that the joint venture has approved an extension and increase to the interim Project budget through September of $30.9 million (including $5 million in additional commitments)...
Brush Wellman Inc. Beryllium Products Unit Licenses Coating Technology
Brush Wellman Inc. announced today that it has entered into a licensing agreement with Mafco Inc. of Largo, Florida to acquire corrosion protection coating technology as applied to beryllium materials. The technology will be utilized on select beryllium metal and aluminum beryllium composite products manufactured by Brush Wellman’s Beryllium Products unit. The acquired Mafco technology includes anodization...
Kaiser Aluminum Posts August Energy Surcharge
Kaiser Aluminum announced that the applicable energy surcharge for August shipments of fabricated products will be: 6xxx alloys: $0.048 per pound All other alloys: $0.066 per pound The surcharges are based on a calculation tied to indices provided by the U.S. Department of Energy and are updated on a monthly basis. Customers can view the formulas for calculating surcharges on the...
Maaden launches biggest mining IPO
State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn. Maaden plans to sell 462.5 million of stock – equivalent to 50 per cent of its share capital – at 20 riyals each with subscriptions closing on July 14, according to the bourse regulator,...
Guyana Gold Corp. Receives Proposal for Joint Venture to Develop Port Kaituma Gold Project
Guyana Gold Corp. is pleased to report that it has received a joint venture proposal to develop the Port Kaituma Gold Project. The proposal would expand the company’s land position and increase the scale of the Port Kaituma project. Guyana Gold Corp. had received a number of joint processing proposals and has now expanded those proposals to include ownership in the Port Kaituma project. Guyana Gold...
Ord River Resources Reports Bauxite Resource Exploration
Ord River Resources announced that exploration by SARCO has identified an independently certified JORC compliant indicated bauxite resource of 62Mt. This resource is present on the Yuqida tenement located in Bolaven Plateau in southern Lao PDR. Further drilling is continuing on the Yuqida tenement with the aim of defining further resources. Drilling will continue through the wet season subject to access...
Update on Navasota’s Koba Bauxite Project, Guinea
Navasota Resources Ltd. is pleased to report that aircore drilling on the Telimele and Gaoual (“AMIG”) permits of its Koba Bauxite Project located in the Boke Bauxite Belt of northwestern Guinea, West Africa, continues to progress well. As of May 29, 2008, a total of 28,722 metres in 1,630 drill holes have been completed on the project, including 9,538 metres in 495 Phase 1 drill holes...
Vedanta to export bauxite powder from Kadinada
Orissa-based Vedanta Alumina Limited (VAL) is set to export bauxite powder overseas from the Deep Water Port with the setting up of three silos here. Kakinada Sea Port Limited (KSPL), in association with Chettinad Port Limited, had constructed these silos at an investment of Rs 80 crore, which have a capacity of 67,500 tonnes. Around 20,000 tonnes of bauxite powder have already been stored in the silos....
Terri Irwin to fight wildlife reserve mine
Mining company Cape Alumina has lodged a mining lease application for an area that encroaches on the 135,000ha Bertiehaugh Cattle Station, which was purchased by an Irwin family company with the help of a Federal Government grant after Steve Irwin’s death in 2006. Renamed the Steve Irwin Wildlife Reserve after the late Crocodile Hunter, the land is about 50km north of Weipa on Cape York, in far...
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