Upstream weekly recap: Aluminium giants Alba-Ma’aden push merger timeline to Q2 2025; Gordon Darcy Lilo refutes bauxite mining claims
This week has seen significant developments in the upstream sector of the aluminium industry, which includes bauxite, alumina, and primary aluminium. To begin with, the proposed merger between Aluminium Bahrain (Alba) and subsidiaries of Saudi Arabia’s Ma’aden has had its deadline extended to the second quarter of 2025. Former Prime Minister of the Solomon Islands and current Member of Parliament for Central Honiara, Gordon Darcy Lilo, has firmly denied allegations related to the bauxite mining controversy on Rennell Island in the Rennell/Bellona Province. NALCO has signed a mining lease deed for the merged Utkal-D and Utkal-E coal blocks in Angul district, Odisha. The new lease agreement will allow NALCO to increase its coal production capacity to 4.0 million tonnes per annum (MTPA), significantly boosting fuel security for its captive power plant. The lease is set to remain in effect until April 21, 2051.
The proposed merger between Aluminium Bahrain (Alba) and subsidiaries of Saudi Arabia’s Ma’aden has had its deadline pushed to the second quarter of 2025. Initially expected to be finalized in Q1 2025, the extension was announced in a statement to the Bahrain Bourse on December 22, 2024.
Gordon Darcy Lilo, the former Prime Minister of the Solomon Islands and current Member of Parliament for Central Honiara, has vehemently denied allegations related to the bauxite mining controversy on Rennell Island in the Rennell/Bellona Province. His response follows remarks made by the current Prime Minister, Jeremiah Manele, and Hon. Bradley Tovosia, Minister of Mines, Energy & Rural Electrification, during a recent parliamentary session.
National Aluminium Company (NALCO) has executed a mining lease deed for the combined Utkal-D and Utkal-E coal blocks in Angul district, Odisha. The announcement was made through an exchange filing after trading hours on December 24, 2024. As one of Asia's largest integrated primary aluminium producers, NALCO covers the entire value chain, including bauxite mining, alumina refining, aluminium smelting, power generation, and the production of downstream products.
To know more: https://www.alcircle.com/news/utkal-coal-block-lease-enhances-nalco-s-fuel-security-112886
Arrow Minerals Limited (ASX: AMD) is excited to announce further exceptional assay results from its maiden drilling program at the Niagara Bauxite Project in Guinea. The project is strategically located approximately 100 kilometres from the multi-user Trans-Guinean Railway, offering strong logistical advantages.
According to the United States Geological Survey, alumina imports into the United States during the first three quarters of 2024 saw a year-on-year decline of 1.1 per cent, despite sequential growth in the second and third quarters. A significant drop of 20.33 per cent quarter-on-quarter and 11.46 per cent year-on-year in Q1, with imports falling to 286,000 tonnes, contributed to the overall decline in year-to-date alumina imports.
Iran's alumina powder production has grown by 5 per cent during the first eight months of the current Iranian calendar year, from March 20 to November 20, according to the Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO). IMIDRO's data reveals that the country produced a total of 159,416 tonnes of alumina powder during this period, up from 152,293 tonnes in the same period last year.
To know more: https://www.alcircle.com/news/iran-s-alumina-powder-production-sees-5-growth-112876
RUSAL has firmly established itself as the successor to the Russian and Soviet aluminium industry, uniting top-tier facilities, advanced research, and state-of-the-art technologies. The company operates through four strategic business units: aluminium, alumina, energy, and mining and metals. According to its H1 2024 report, aluminium and alumina remain its core segments.
Data from the General Administration of Customs, as reported by the Shanghai Metals Market (SMM), shows that China’s primary aluminium imports in November declined by 13.8 per cent month-on-month but rose by 22.5 per cent year-on-year. SMM reported that China imported 150,700 tonnes of primary aluminium in November, bringing the cumulative imports from January to November to approximately 1.975 million tonnes, a 44.5 per cent year-on-year increase.
In the first eleven months of 2024, Africa produced 1.44 million tonnes of primary aluminium, down from 1.462 million tonnes during the same period last year, reflecting a year-on-year decline of 1.5 per cent. This contrasts with a 2.87 per cent increase in global primary aluminium output. As a result, Africa's share of global primary aluminium production has decreased from 2.26 per cent to 2.16 per cent this year.
To know more: https://www.alcircle.com/news/africas-primary-aluminium-production-from-january-to-november-2024-sees-a-1-5-dip-112883
Winstar Capital Bhd has delivered outstanding performance on the ACE Market, with its share price soaring by more than 80 per cent since its initial listing at 35 sen. As of 12:35 PM on December 24 (local time), the company’s shares are trading at 64 sen, marking an impressive 83 per cent rise. Trading activity has been robust, with over 24.77 million shares exchanged.
To know more: https://www.alcircle.com/news/ace-market-debut-thrusts-winstar-capital-to-rm186-million-valuation-112873
Base metal prices on the London Metal Exchange (LME) demonstrated positive momentum, with nickel rising by 1.61 per cent day-on-day. At the same time, LME-registered warehouse inventories showed mixed movements, as zinc stocks declined by 1.32 per cent day-on-day.
To know more: https://www.alcircle.com/press-release/base-metals-prices-on-lme-show-positive-trends-stocks-witness-mixed-movements-112870
According to the latest data from the International Aluminium Institute, global primary aluminium production is on track to surpass last year's output, setting a new annual record. In December 2024, production needs to exceed 4.194 million tonnes to surpass the 2023 total of 70.716 million tonnes. From January to November 2024, global primary aluminium production has already reached 66.522 million tonnes.
Aluminium Bahrain B.S.C. (Alba) has introduced another state-of-the-art technology to enhance its operations. According to a report dated December 24, Alba has collaborated with Comvision (India) Private Limited, a prominent provider of intelligent transportation solutions, to upgrade its inventory management and tracking systems.
To know more: https://www.alcircle.com/news/alba-partners-with-comvision-india-to-enhance-inventory-management-and-tracking-systems-112877
Vedanta Aluminium has taken another significant step in digital innovation with the launch of an advanced Logistics App. Developed in partnership with Krishca Strapping Solutions, the app is designed to elevate the company's transport loading and lashing operations to global standards.
To know more: https://www.alcircle.com/news/vedanta-aluminium-introduces-logistics-app-to-optimise-internal-operations-112879
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