Australia

Metro Mining Inks Strategic Financing Agreement with Greenstone

Metro Mining Inks Strategic Financing Agreement with Greenstone

Brisbane’s Metro Mining Limited announced yesterday that it has signed an agreement with Greenstone Resources II Ltd that grants Greenstone a 19.98% interest in Metro in addition to providing Metro with assistance in developing its Bauxite Hills Project. The agreement has Greenstone...

Events

Rio Tinto Reorganizes Business Structure and Executive Team

Anglo-Australian mining titan Rio Tinto announced a shake-up to its executive team and organizational structure yesterday. “In the face of testing times for the industry, Rio Tinto is performing remarkably well. Our ambition is to deliver superior performance day-in and day-out so that we create value for our shareholders and communities now and over the […]

Yarwun Lays Off Fifty in Final Round of Labor Cuts

In a memo distributed to Rio Tinto workers at Queensland’s Yarwun bauxite operation, general manager Colin McGibbon explained why fifty workers were released in the final round of cuts intended to make the plant profitable again. “Commodity prices have decreased to some of the lowest levels we’ve seen in recent history, with no clear line […]

ABx Announces Second Sale of Bald Hill Bauxite

Australian Bauxite Limited announced its second sale yesterday, completing a deal for 5,000 metric tons to the same unidentified purchaser as the initial sale made in April. This is the second sale from the firm’s Bald Hill mine in Tasmania. Bald Hill is the first new bauxite project in that country in three-and-a-half decades. ABx’s sale […]

Alcoa Seeks Declaratory Relief Regarding Rights Issue with Alumina Ltd

Alcoa’s planned split has run into a snag due to Australia’s Alumina Ltd and comments it has made regarding the “serious concerns” it has for the demerger’s impact upon a joint venture in which both parties have substantial interests. The Melbourne firm said in a statement that it was concerned that the split would “result […]