Australia

Metro Mining Ltd Shareholders Approve Bauxite Hills Financing

Metro Mining Ltd Shareholders Approve Bauxite Hills Financing

Australia’s Metro Mining Limited announced on Tuesday that it has obtained shareholder approval to issue shares to Greenstone Metro Holdings LP. The move is part of Metro’s strategic funding arrangement, allowing it to go forward on its Bauxite Hills project in Queensland....

Events

CME Group to Offer Two New Alumina Futures Contracts Next Month

American derivatives marketplace CME Group (Chicago Mercantile Exchange & Chicago Board of Trade) announced two new futures contracts on Monday. Both will be contracts for aluminium oxide, or alumina. According to the relevant press release, CME Group will be offering Alumina FOB Australia (S&P Global Platts) futures and Alumina FOB Australia (Metal Bulletin) futures for […]

Rio Tinto Shopping its Aluminium Assets: Industry Sources

According to industry sources, Anglo-Australian mining major Rio Tinto is seeking buyers for parts of its aluminium operations. An article published yesterday in The Australian Financial Review said that Rio Tinto is seeking buyers for its three Australian aluminium smelters – namely Tasmania’s Bell Bay, Queensland’s Boyne, and New South Wales’ Tomago, citing unnamed insiders […]

Australian Gov’t to Begin Investigation Into Possible Aluminium Dumping from Vietnam, Malaysia

Australia’s government has begun a probe into aluminium imports from certain Asian countries to determine if they are engaging in unfair trade practices. According to the state-run news outlet Vietnam News Agency, and reported by Platts, the Australian Department of Industry, Innovation and Science’s Anti-Dumping Commission is investigating aluminium imports from Vietnam and Malaysia. The […]

Indigenous-owned Mining Company to Open Mine in Northern Australia

Australia’s Northern Land Council has agreed to permitting an Aboriginal-owned mining company to commence a small-scale bauxite operation in northeast Arnhem Land, in the Northern Territory. This is believed to be the first time an Aboriginal clan has operated a mine on land it traditionally owned. Gulkula Mining Ltd is operated by the Gumatj clan, […]

BHP Billiton Ends FY 2016 US$6.4 bln in the Red

Anglo-Australian mining giant BHP Billiton reported final results for FY 2016 yesterday, ending a challenging financial year both on the books and in the field. The firm ended the year US$6.4 billion in the red, representing the largest annual loss in its history. The US$7 billion in impairment charges acted as a financial millstone around […]