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Nickel News

Norilsk owns 90% of LionOre

By: Matthew Hill     29th June 2007 The world’s biggest nickel producer, Norilsk Nickel, (Norilsk) announced on Friday that it had acquired 90% of Canada-based LionOre’s common outstanding shares before the June 28 close of its offer to buy the firm for $27,50 a share. 

Jubilee to issue shares to buy remaining Madagascan stake

By: Matthew Hill     14th June 2007 Junior exploration and development company Jubilee Platinum (Jubilee) said late on Wednesday that it would apply to the London Stock Exchange and the JSE to place 850 000 new shares with institutions, to raise nearly £1-million pounds, which it would use to buy the remaining 15% stake in a... 

LionOre ends Xstrata agreement, to pay C$305m break fee

By: Matthew Hill     8th June 2007 Junior nickel producer LionOre Mining International (LionOre) said on Thursday that it would close its support agreement with Xstrata for its C$25 a share bid, and subsequently pay the diversified giant its C$305-million, or R2,1-billion, break fee. 

Jubilee completes scoping study for $400m mine at Tjate

By: Matthew Hill     6th June 2007 JSE- and Aim-listed platinum junior Jubilee announced on Wednesday that a scoping study at its flagship Tjate project, on the eastern limb of the Bushveld Complex, revealed positive returns of 22% for a $400-million, or R2,87-billion, initial investment. 

Xstrata bows out of LionOre bid battle

By: Matthew Hill     4th June 2007 Diversified resources firm Xstrata announced at the weekend that it had told junior Canadian miner LionOre Mining International that it would not match Russian giant Norilsk Nickel's C$6,8-billion cash offer for the company. 

Finns give competition nod to Norilsk's LionOre bid

By: Matthew Hill     31st May 2007 The world's biggest nickel producer, Norilsk Nickel, said on Thursday that it had received Finnish competition approval for its proposed acquisition of LionOre Mining, it said on Thursday. 

Gilbertson-led group to create $1,5bn resources investment fund

By: Matthew Hill     28th May 2007 Resources investment vehicle Pallinghurst Resources (Pallinghurst), chaired by former BHP Billiton CEO Brian Gilbertson, Cayman Islands-based AMCI ConsMin and financial services provider Investec had agreed to create an alliance that could have as much as $1,5-billion, or R10,6-billion, to buy... 

Junior mining index market cap tops R100bn

By: Nelendhre Moodley     28th May 2007 The NedSec Junior Mining & Exploration Index (NSJME) has reached a free-float weighted market capitalisation of R104,6-billion, Nedbank Capital said in a statement on Monday. 

Xstrata extends LionOre offer period

By: Nelendhre Moodley     28th May 2007 Diversified mining group Xstrata Plc on Monday announced the extension of the expiry time for its all-cash offer to acquire LionOre Mining International (LionOre), for C$25,00 a LionOre share, from Friday, 25 May 2007 to midnight (Vancouver time) on June 7, 2007. 

Revised Norilsk bid represents superior offer - LionOre

By: Matthew Hill     25th May 2007 Junior nickel producer LionOre Mining International (LionOre) on Thursday said that Russian Norilsk Nickel's C$6,8-billion offer was superior to diversified mining giant Xstrata's C$6,2-billion bid for the Canada-based company. 

LionOre board to consider revised Norilsk offer

By: Matthew Hill     24th May 2007 Canada-based nickel-miner LionOre Mining International (LionOre), which has been in the middle of a bidding war between diversified mining giant Xstrata and Russia's Norilsk Nickel, said that it had reviewed the Russian firm's press release stating that it would increase its takeover... 

LionOre shares rally as Norilsk outbids Xstrata again

By: Matthew Hill     23rd May 2007 Junior nickel-miner LionOre shares have rocketed by more than 40% since Russia's Norilsk Nickel (Norilsk) announced on May 3 that it would pay more than diversified giant Xstrata's takeover bid for the company, and further upward movement seems inevitable, as the Russian firm said on... 

Zambezi Resources agrees to form uranium JV with Zambezi Nickel

By: Matthew Hill     22nd May 2007 Aim-listed exploration firm Zambezi Resources announced on Monday that it had entered into an agreement with Zambezi Nickel to embark on a joint venture (JV) on its Oryx uranium prospect, in Zambia, in terms of which Zambezi Nickel could acquire the project�s uranium rights. 

Avalloy launches SA's first superalloy plant

By: Mariaan Webb     21st May 2007 Metal producer Avalloy opened South Africa's first superalloy plant to produce alloys from locally mined nickel, cobalt and chrome on Monday, and formalised a supplier agreement with Rolls-Royce. 

Break fee in new Xstrata LionOre offer 'unreasonably high' - Norilsk

By: Matthew Hill     16th May 2007 The world's-biggest nickel producer, Russia's Norilsk Nickel, expressed surprise and disappointment that Xstrata's new offer to acquire LionOre had an 'unreasonably high' break fee, in an emailed statement on Wednesday. 

LionOre profit leaps on nickel prices

By: Nelendhre Moodley     15th May 2007 Canada's LionOre Mining International posted strong results, achieving new quarterly records for mineral sales, at over half a billion dollars, and operating earnings of $343,5-million for the first quarter 2007 financial and operational results. 

Xstrata ups the ante with LionOre counter bid

By: Matthew Hill     15th May 2007 Diversified mining giant Xstrata and nickel-miner LionOre Mining International announced on Tuesday that Xstrata had upped the ante in the bidding war for the Canadian nickel producer to C$25,00 a share, 35% higher than its first bid. This was after Norilsk lodged a counter-bid of C$21,50 a... 

Time running out for Xstrata in LionOre bid

By: Matthew Hill     14th May 2007 Nickel miner LionOre said on Monday afternoon that it had not yet received a second offer from diversified mining giant Xstrata, after Russia�s Norilsk announced a superior counter bid to the firm�s March 26 offer of C$18,40 a share, valuing the transaction at R28,9-billion. 

Nkomati expansion may cost R2,5bn

By: Matthew Hill     14th May 2007 South African diversified miner African Rainbow Minerals (Arm) said on Monday that a planned 15 000 t/y expansion at its 50%-owned Nkomati nickel mine could cost as much as R2,5-billion. 

Albidon secures $60m finance facility for Zambian nickel project

By: Matthew Hill     9th May 2007 The European Investment Bank (EIB) and Barclays Capital (Barclays) would act as joint lead arrangers to provide a $60-million financing facility for nickel exploration and development firm Albidon, which would completed the financing requirements of its Munali nickel project, in Zambia, it said... 

Xstrata has until May 14 to counter 'superior' Norilsk offer - LionOre

     8th May 2007 Canadian nickel-miner LionOre Mining said on Tuesday that its board of directors had determined that Norilsk Nickel's C$21,50 a share offer for the company constituted a 'superior' proposal to a C$18,50 friendly bid by diversified miner Xstrata, announced last month. 

Acquisitive Norilsk forecasts nickel supply deficit

By: Matthew Hill     7th May 2007 The world's biggest nickel producer, Norilsk, which last week announced a counterbid for Canada's LionOre, forecasts a deficit in global supply for the silvery-white metal, as a number of big industry projects have been delayed. "We are confident that global demand for nickel will... 

Norilsk Nickel offers C$21,50 a share for LionOre

By: Matthew Hill     3rd May 2007 The world's number-one nickel producer Norilsk Nickel will make an all-cash offer to acquire LionOre Mining for C$21,50 a share, or about C$5,3-billion, the company said on Thursday. 

Lonmin still eyeing 1moz/y production target, despite shaky first half

By: Matthew Hill     2nd May 2007 The world's third-biggest platinum producer, Lonmin, on Wednesday said that it had experienced a difficult second quarter for the three months ended March 31, with sales falling by 35%, but that it remained on target to produce 980 000 oz to a million ounces of platinum for the year. CEO... 

Xstrata gets Oz competition go-ahead for LionOre deal

By: Liezel Hill     19th April 2007 Xstrata has received clearance from the Australian Competition and Consumer Commission for its all-cash offer for Canadian nickel producer LionOre, the group said on Thursday.  

Platinum nudging Anglo ahead of BHP and Rio, Trahar says on last day at Anglo office

By: Martin Creamer     16th April 2007 Platinum had come to the fore to nudge Anglo American plc ahead of its diversified mining rivals BHP Billiton and Rio Tinto, outgoing Anglo American plc CEO said on his last day at the Anglo office. Trahar told Mining Weekly Online in an exclusive telephone interview from London that Anglo had... 

Geovic signs agreement on Cameroon cobalt-nickel prospect

By: Nelendhre Moodley     11th April 2007 TSX-listed cobalt producer Geovic Mining (GeoMin) on Wednesday announced that it had signed a shareholders agreement with Geovic Cameroon plc (GeoCam), a Cameroonian company in which it holds 60%, to develop a cobalt-nickel mineral discovery in South East Cameroon. 

Xstrata gets Australian Federal Treasurer go-ahead for LionOre deal

By: Liezel Hill     29th March 2007 Diversified-miner Xstrata had received notice from Australia’s Federal Treasurer that it had approved Xstrata’s proposed acquisition of LionOre Mining, the group said on Thursday. 

Xstrata to have lowest-cost chrome and nickel technologies

By: Martin Creamer     27th March 2007 London-listed diversified miner Xstrata will have the lowest cost technologies in both chrome and nickel if its bid for LionOre is successful, Mining Weekly Online can report. Xstrata has been able to come down the cost curve significantly with its Premus technology in ferrochrome production and... 

Xstrata bids $4bn for Canada's LionOre

By: Matthew Hill     26th March 2007 LSE- and ZSE-listed diversified miner Xstrata announced on Monday that it had entered into an agreement to buy all of the issued and outstanding shares of nickel producer LionOre for $15,96 a share, valuing the transaction at $4-billion, or R28,9-billion. The friendly takeover bid represented a... 

Shanghai copper 1,2% lower on China rate rise

By: Archivist     19th March 2007 Shanghai copper prices ended 1,2% lower on Monday, under pressure after China raised interest rates, sparking fears that demand from the world's largest copper consumer could ease. 

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