Alcan Inc. announced that its Board of Directors unanimously recommends shareholders reject Alcoa Inc.’s (NYSE: AA) unsolicited offer to acquire Alcan. The Board determined that the offer is inadequate in multiple respects and is contrary to the best interests of Alcan’s shareholders. Accordingly, the Board recommends that Alcan shareholders not tender any of their shares […]
The project involves the construction of an alumina refinery in the Sosnogorsk region with a capacity of 1.4 mln tonnes per annum, and the expansion of the output of the existing Eurasia Middle-Timan bauxite mine to 6.4 mln tpa from 2.6 mln, it said.
Construction of the refinery will start next month, while the complex […]
Guinea`s Mines Ministry said the country`s parliament had recommended it renegotiate contracts with a US oil company and a Russian-controlled bauxite producer to obtain better terms for the nation.
Guinea`s new government, appointed in March as part of a deal to end violent strikes and protests in the world`s top bauxite exporter, said last month it […]
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 […]
BP Plc and Rio Tinto Plc formed a joint venture, Hydrogen Energy, to develop technology for producing power from coal, oil and natural gas without emitting the gases blamed for global warming.
Rio will pay $32 million to BP to form the equally owned venture, which includes two planned BP hydrogen-fuel projects in Scotland and California […]
Alcoa Inc. announced that it has reviewed Alcan’s continuity agreement with the Government of Quebec which identifies the requirements that Alcoa must meet regarding Alcan’s future operations in the Province in order to maintain certain of Alcan’s hydroelectric and water rights. In a letter to Alcan’s Board of Directors, Alcoa outlined the many ways in […]
Saudi Arabia’s Western Way For Industrial Development yesterday said it had signed three agreements with Gerald Metals of the US to help it develop an estimated $4bn aluminum complex on the country’s Red Sea coast.
Under the agreements, Connecticut-based Gerald and its affiliates will supply bauxite to Western Way’s aluminum refinery and offtake all aluminium produced […]
Australian iron ore prospector Fortescue Metals Group Ltd. said on Thursday it had revamped a supply agreement with Chinese steelmaker Tangshan Iron and Steel Group that increases volumes.
Tangshan, which had already agreed to take up to 5 million tonnes of ore a year from Fortescue’s western Australian mines, has committed to purchase up to a […]
Saudi’s Western Way for Industrial Development has signed agreements with the US’ Gerald Metals relating to a proposed aluminium plant at Jazan Economic City. Gerald will supply bauxite to the plant and buy all the aluminium produced. Gerald has also agreed to fund 20% of the $4bn project, according to the promoters of JEC.
Norway’s Norsk Hydro has agreed with Australia’s United Minerals Corporation (UMC) to explore the possibility of bauxite mining and alumina refining in the Kimberley region of Western Australia.
“A final agreement would give Hydro a 75 percent holding in a potential bauxite and alumina project, in line with Hydro’s strategy to grow in primary aluminium production […]