Australia

Higher Power Prices Prompt Partners’ Write Down in Portland Aluminium

Higher Power Prices Prompt Partners’ Write Down in Portland Aluminium

Higher power prices negotiated by the operators of Portland Aluminium with AGL Energy have prompted them to write down their stake in the joint venture by a total of USD229 million. Year-end filings by Alumina Ltd indicate that the firm and its...

Events

Rio Tinto Sets Production Records for Bauxite, Alumina, and Aluminium in 2016

Anglo-Australian metals and mining titan Rio Tinto released results for 2016 yesterday. The firm touted the US$8.5 billion in cash generation and US$3.6 billion in shareholder returns it generated over the course of last year. Net cash generation was down ten percent year-on-year from US$9.383 billion, but underlying earnings were up, coming in at US$5.1 […]

Altech Chemicals Offers Update to High-Purity Alumina Project

Australia’s Altech Chemicals Ltd announced an update on the due diligence activities surrounding funding of its high-purity alumina (HPA) project. According to the update, the independent reviews and pilot plant test work associated with the project are approaching completion. The firm has been working with German KfW IPEX-Bank on structuring financing for the project. Altech […]

Alcoa to Boost Bauxite Exports from Western Australia

Alcoa’s Roy Harvey informed participants in a quarterly earnings call this week that he expects the firm to “dramatically” increase bauxite exports from its operations in Western Australia after the first shipment of ore from the region last month. The company’s first commercial shipment of bauxite from the mine at Huntly took place in December, […]

Rio Tinto Begins Work on New Bauxite Mine on Cape York

Anglo-Australian mining giant Rio Tinto began work on a new bauxite mine in Cape York by awarding a US$53-million contract to Queensland civil engineering firm QBrit. The new mine, dubbed the Amrun Project, is a US$2 billion operation that is expected to harvest 22.8 million metric tons per annum at the outset, with an option […]

Alcoa Seals Deal to Keep Portland Aluminium Open

The Alcoa Corporation announced late yesterday that it has come to an agreement with the Australian and Victorian government that will keep the Portland smelter open and allow it to restart the capacity damaged in last month’s power outage. In the same announcement, Alcoa revealed that it has also come to an agreement with AGL […]