UAE eyes stakes in bauxite firms

Abu Dhabi government investment agency Mubadala Development said it plans to join state-run Dubai Aluminium to create a company to buy stakes in bauxite mining companies and develop reserves of the ore. The two companies will set up Emal International to look at acquisitions or developments in countries such as Algeria, Morocco and India, Mubadala’s chief operating officer Waleed Al Muhairi said... 

Sourcing bauxite for smelters a challenge

Finding enough bauxite sources to feed the upcoming aluminium smelters in the Gulf will be a challenge as the region begins to emerge as a major producer of the metal. Availability of cheaper energy has encouraged new investment in aluminium production in the region. Power is responsible for roughly one-fourth of a smelter’s operating costs, while alumina supplies account for 45 per cent. Aluminium... 

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Global Alumina announces joint venture negotiation progress

Global Alumina Corporation announced that its board of directors will meet within this week to approve the establishment of a joint venture among an affiliate of BHP Billiton, Dubai Aluminium Company Limited (“DUBAL”), Mubadala Development Company PJSC (“Mubadala”) and the Company to develop and operate the Company’s alumina refinery project in the Republic of Guinea.... 

Global Alumina Announces Joint Venture Agreements in Process of Finalization

Global Alumina Corporation announced that the Company has been informed that the proposed joint venture with an affiliate of BHP Billiton, Dubai Aluminium Company Limited (“DUBAL”) and Mubadala Development Company PJSC (“Mubadala”) to develop and operate the Company’s alumina refinery project in the Republic of Guinea has received board approvals from two joint venture... 

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CVRD forecasts tight global iron ore, nickel markets, strong Chinese growth

Brazilian mega-iron ore miner CVRD Thursday predicted that global iron ore and nickel markets will remain tight, and copper inventories will continue to be critically low. During a conference call to discuss third-quarter results, CVRD Finance Director Fabio Barbosa said the CEIC Data, which specializes in Asian economic research, forecasts a 13% average annual growth rate for Chinese steel production...