Archive for March 2017

EGA to Participate in First-Ever Global Manufacturing & Industrialisation Summit

EGA to Participate in First-Ever Global Manufacturing & Industrialisation Summit

United Arab Emirates’ Emirates Global Aluminium announced earlier this month that it would participate in the first-ever Global Manufacturing & Industrialisation Summit, which is to take place at the end of this week. According to EGA, the summit is the first worldwide...

Events

China’s Alumina Output to Increase by 6.65 MMT in 2017

The People’s Republic of China’s state-run metals consultancy firm Beijing Antaike declared that the country’s alumina capacity would rise by 6.65 million metric tons per annum by the end of this year. Refineries in north, central, and northwest China are expected to lead the charge. Industrial heavyweights Shandong and Henan are forecast to add 2 […]

Chalco’s Net Profit Doubles Thanks to Improved Aluminium Market

State-owned aluminium producer Aluminum Corporation of China Ltd. (Chalco) released its annual report for fiscal year 2016 yesterday. The year witnessed a doubling in profit for the firm due in part to a rebound in aluminium prices and a drop in production costs. Chalco recorded a net profit of CNY402 million (USD58.5 million), which was […]

Metro Mining Raises $36.5 MM for Bauxite Hills via Rights Issue

Brisbane’s Metro Mining Ltd. raised $36.5 million for its Bauxite Hill mine in a recently-completed rights issue. According to domestic financial media, the firm’s 1:2 non-renounceable rights issue was priced at $0.125. Metro received applications for roughly 60% of the 292.3 million shares to be issued for the rights issue. Metro’s underwriter claimed the remaining […]

National Bauxite Authority to be Established in Months: Ghana’s Akufo-Addo

Ghana’s new president Nana Addo Dankwa Akufo-Addo revealed plans for his government to establish a bauxite and aluminium development authority within the next three months earlier this week. In comments made at the 5th Africa CEO Forum held in Geneva, Switzerland, Akufo-Addo said such a move would help establish a strong aluminium industry in Ghana […]

Metal Fatigue – Has China Hongqiao’s Weiqiao Model Run Its Course?

The world’s largest aluminium company finds its finances again in question after being suspended from the Hong Kong Stock Exchange. China Hongqiao Group Limited saw the trading of its shares halted Wednesday morning, one day after announcing that the publication of its annual results would be delayed. According to the relevant filing, Hongqiao advised the […]