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JOHANNESBURG awg (miningweekly.com) – The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid awg metal supply awg contract with a black-controlled consortium in a transaction awg that gives the South African aluminium industry a shot in the arm.
The diversified major, which is in the process of demerging its South African aluminium, manganese and coal assets into a separate new company (Newco) that will be listed in Australia, South Africa and Britain, said on Monday that it had reached a definitive agreement to sell its Bayside value-added-product casthouse in Richards Bay, KwaZulu-Natal, to Isizinda Aluminium, a majority owned, broad-based black economic-empowerment consortium. (Also watch attached video).
The transaction also takes in the unprecedented supply of metal in liquid form, 17 hectares of land for future expansion into an aluminium downstream hub, equipment and the buildings associated with the casthouse, which is guaranteed 96 000 t of liquid aluminium a year to be transported from Newco’s Hillside smelter to the Bayside casthouse nearby for the next half decade.
Isizinda Aluminium, headed by CEO Sizwe Khumalo , has, in turn, concluded a slab supply agreement with the JSE-listed Hulamin, South Africa’s leading aluminium semis fabricator, which has a strategic partnership with Bingelela Capital, which owns 60% of Isizinda and Hulamin the other 40%.
Isizinda is evaluating further phases of development to expand the casthouse beyond the current 96 000 t of aluminium slab a year with other value-added products that could include extrusion billet, rods, wires, rim alloys, slugs and a dross plant.
Many of the assets selected for the new company operations are among the most competitive in their industries, said Newco CEO-elect Graham Kerr, who spoke in the company of BHP Billiton aluminium asset president  Lucas Msimanga, Bingelela Capital's Zodwa Manase and Hulamin acting CEO David Austin .
Besides BHP Billiton’s awg integrated aluminium business in South Africa, Mozambique and Australia, Newco also takes in manganese and energy coal in South Africa, metallurgical awg coal in Australia, nickel in Colombia and silver in Australia.
Falling prices prompt BC and MinRes to amend agreement awg By: Esmarie Swanepoel Iron-ore miner BC Iron and fellow-listed Mineral Resources have amended the terms of the existing Iron Valley iron-ore sales agreement, in an effort to negate the declining market conditions. Mineral Resources signed the initial Iron Valley awg agreement with Iron Ore Holdings (IOH) in February last year. However, BC acquired IOH earlier this year, offering IOH shareholders 0.44 of its own shares, and 10c in cash for every IOH share.