http://www.miningweekly.com
R/€ = 15.77 Change: -0.14
R/$ = 13.83 Change: -0.10
Au 1285.81 $/oz Change: -8.05
Pt 810.87 $/oz Change: 7.01
 

Nickel News

Current zinc, nickel prices 'not sustainable' – HudBay's Palmiere

By: Liezel Hill     5th November 2008 Current base-metals prices are “not sustainable for any period of time”, HudBay Minerals CEO Allen Palmiere asserted on Wednesday. “Fifty cents [a pound] is a zinc price that is going to push the vast majority of zinc operations under water,” he said on a conference call with analysts and... 

African Eagle receives positive results from Tanzania nickel project

By: Esmarie Iannucci     5th November 2008 UK-based mineral resources company African Eagle Resources has received positive results for another 30 drill holes at the company’s Dutwa nickel laterite project, in Tanzania, it said on Wednesday. “The latest grades, which are from the peripheries of the deposit, continue to show good... 

Braemore confident it will survive financial turmoil

By: Chanel de Bruyn     29th October 2008 JSE-listed nickel and platinum processor Braemore Resources on Wednesday said it remained committed to its objectives, despite the volatile market making it "challenging" for large and small mining companies to operate. "We remain committed to our long-term objectives and, despite a tougher... 

Subprime panic weakens base metals demand

By: Irma Venter     24th October 2008 Activity in the base metals sector has been dominated by the continued fall-out from the subprime crisis - this according to London-based Natixis Commodity Markets’ (NCM’s) fourth quarter metals review. 

FNX halts contact nickel production from Levack mine

By: Liezel Hill     21st October 2008 TSX-listed FNX Mining has suspended contact nickel production at its Levack Complex, in Sudbury, Ontario, citing low commodity prices and low provisional metal accountabilities, along with high operating costs of mining the deposits. The company does not expect that the decision will result in... 

Xstrata Q3 copper volumes down 8%, coal, nickel output up

By: Mariaan Webb     21st October 2008 Diversified miner Xstrata on Tuesday reported stronger third-quarter ferrochrome, thermal coal, platinum, mined nickel, zinc in concentrate and lead output, while copper production fell in the three months ended September. The Zug-based miner attributed the 8% decline in copper output to lower... 

Highest nickel grade intercepts – African Eagle

By: Martin Creamer     21st October 2008 The Dutwa nickel laterite discovery in Tanzania had produced its highest-grade intercepts to date, Aim- and JSE-listed African Eagle MD Mark Parker said on Tuesday. Parker said that 85% of drill holes had return favourable nickel grade and thickness in the Dutwa project area, which was... 

First Nickel halts output at Ontario mine on low metals prices

By: Liezel Hill     20th October 2008 TSX-listed First Nickel has suspended production at its Lockerby nickel mine, in Canada's Sudbury basin, the company announced on Sunday, citing low metals prices and difficult financial conditions. The firm is placing the mine in a care and maintenance programme, which will enable it to restart... 

Nickel market unlikely to recover until well into 2009 

By: Brindaveni Naidoo     17th October 2008 Autonomous and intergovernmental organisation, the International Nickel Study Group (INSG), reports that world primary nickel usage in 2008 started well, but as world economic upheaval continued, including the tightening of credit facilities, nickel prices declined and demand and production for... 

Albidon sells first concentrate from Munali

By: Esmarie Iannucci     13th October 2008 ASX-listed mining company Albidon in October recorded its first revenue from the sale of concentrate from its Munali nickel project, in Zambia, which the company said was a significant step in the transition from developer to producer. The company was also actively seeking to sell a parcel of... 

Russian miner halts zinc, nickel projects due to financial turmoil

By: Reuters     10th October 2008 The Russian Copper Company has temporarily shelved separate projects to expand into nickel and build a zinc plant with a rival miner due to the global financial crisis, a company spokesman said on Friday. The company, Russia's third-largest copper producer, said all existing projects would... 

Outlook for global mining industry positive – US CEOs

By: Brindaveni Naidoo     10th October 2008 CEs of the US coal, minerals and mining equipment companies described the state of the mining industry a positive both in the US and globally, as growth in the developing world continues to fuel demand for coal, minerals and mining equipment. 

Braemore secures first right of refusal over Atomaer projects

By: Martin Creamer     6th October 2008 JSE- and Aim-listed Braemore Resources had secured first right of refusal over the nickel and platinum projects of its controlling Atomaer shareholder and put an end to a perceived share overhang, CEO Leon Coetzer said on Monday. Coetzer said that the new relationship removed the potential for... 

Norilsk Nickel profit drops by one-third on lower prices

By: Chanel de Bruyn     3rd October 2008 Lower metal prices and increasing inflationary costs in Russia resulted in a 33% decline in base metals and platinum-group metals (PGMs) producer Norilsk Nickel's net profit for the first half of 2008. The company at the weekend reported a decline in net profit to $2,68-billion for the six... 

Canadian Royalties still seeks funds for Quebec nickel mine

By: Liezel Hill     1st October 2008 TORONTO (miningweekly.com) TSX-listed Canadian Royalties is in ongoing talks to secure project financing for its Nunavik nickel mine, in Quebec, but is going ahead with its plan to scale back activity at the site until the funding has been arranged, the firm said on Wednesday. “Discussions and... 

Talvivaara produces first metal on schedule

By: Liezel Hill     1st October 2008 London-listed Talvivaara produced the first metal sulphides on Wednesday, from its new €250-million recovery plant, the firm reported in an emailed statement. Mining operations got under way at the company's world-first bioheapleaching nickel mine in April this year, followed by the start-up of... 

Dutwa Africa’s first major base-metals discovery since Copperbelt – African Eagle 

By: Martin Creamer     1st October 2008 JOHANNESBURG (miningweekly.com) – The Dutwa nickel deposit in Tanzania appeared to be Africa’s first major base-metals discovery since the Copperbelt and the continent's "first major nickel laterite discovery", African Eagle Resources deputy chairperson Euan Worthington said on Wednesday.... 

International Royalty sees 'infinite opportunities' as cash-crunched miners come a-knockin'

By: Liezel Hill     30th September 2008 Colorado-based mineral royalty firm International Royalty Corp (IRC) finds itself in the enviable position of being able to “pick and choose” between a host of potential deals, as miners and hopefuls seek alternative financing options. “It's been an amazing year in terms of the sheer volume,”... 

Braemore widens loss, says made 'significant' progress at operations

By: Christy van der Merwe     29th September 2008 JOHANNESBURG (miningweekly.com) – JSE-listed nickel and platinum processor Braemore Resources on Monday reported a widened loss a share for the year ended June 2008, to 0,21p, compared with a loss a share of 0,16p for the comparative period. However, the company remained upbeat, stating that... 

Geovic announces new board appointment

By: Esmarie Iannucci     25th September 2008 TSX-listed Geovic Mining on Thursday announced the appointment of Michael Goldberg to its board of directors, bringing it size up to seven. Goldberg has served on the MasterCard Worldwide Centers of Commerce Knowledge Panel since late 2006, chairing that board since November 2007. 

Africa-focused Albidon closes out hedge book

By: Esmarie Iannucci     22nd September 2008 ASX-listed Albidon has closed out its hedge book of 11 294 t of nickel to cut its senior debt, it said on Monday. The company, headquartered in Perth, said it had generated net proceeds of about $50-million. 

Grinaker-LTA subsidiary clinches Nkomati plant contract

By: Leandi Kolver     19th September 2008 A new concentrator plant is to be built at African Rainbow Minerals (Arm’s) and Norilsk Nickel Africa’s joint project Nkomati nickel mine, in Mpumalanga. The companies contracted multidisciplinary contractor Grinaker-LTA Mechanical & Electrical Metals & Minerals to build the plant. 

Braemore issues profit warning, shares drop sharply

By: Christy van der Merwe     17th September 2008 Nickel and platinum-producer Braemore Resources on Wednesday issued a statement to the JSE indicating an expected decrease in headline earnings a share of between 20% and 40% for the year ended June 2008. The companies share price dropped almost 44%, to 40c a share by the close of business on... 

African Rainbow Minerals to spend R12bn in next four years, says Patrice Motsepe

By: Martin Creamer     12th September 2008 Diversified black-controlled mining company African Rainbow Minerals (ARM) will be investing R12-billion in projects in the next four years. Executive chairperson and founder Patrice Motsepe said the R12-billion expenditure between 2008 and 2011 would reflect the second major expansionary phase... 

Sentiment changes as the demand side weakens

By: Irma Venter     12th September 2008 The fact that some base metal prices have fallen by more than 50% in recent months, highlights the fact that investment activity in the market can turn quickly from being bullish to bearish, reports London-based Natixis Commodity Markets (NCM) in its third quarter metals review. 

Rio Tinto buys into explorers Kalahari Minerals, Extract

By: Liezel Hill     11th September 2008 Diversified-miner Rio Tinto has bought 14,9% of Aim-listed Kalahari Minerals, which is exploring for gold and base metals on several properties in Namibia, the smaller company reported on Thursday. Kalahari owns just under 40% of ASX-listed uranium explorer Extract Resources, which also... 

Canadian diamond production rose 28% in '07

By: Liezel Hill     9th September 2008 Canada's diamond industry produced 17-million carats last year, an increase of 28% from the 13,28-million carats produced a year earlier, according to figures from the Mining Association of Canada (MAC). However, the value of the production declined almost 10% year-on-year, to C$1,44-billion... 

Mirabela inks 5yr offtake pact with Norilsk Nickel

By: Liezel Hill     9th September 2008 TSX- and ASX-listed Mirabela Nickel will sell 50% of the nickel concentrate produced in the first five years of operation at its Santa Rita mine, in Brazil, to mining giant Norilsk Nickel. As part of agreement between the two companies, Norilsk has agreed to provide Mirabela with a subordinated... 

Ontario fast-tracks mining law revamp to bring much-needed clarity, 'balance' - Minister 

By: Liezel Hill     9th September 2008 Ontario's Minister of Northern Development and Mines, Michael Gravelle, has defended the pace at which his Ministry set about soliciting submissions on changes to the province's century-old Mining Act, saying that a protracted consultation process would only have prolonged the uncertainty for... 

Albidon says Zambian mine well hedged despite metal price falls

5th September 2008 Perth-based nickel sulphide miner Albidon said it has sidestepped the collapse in metals prices generally through a strong hedge position and low operating costs to ensure a strongly margined nickel mine. The mine was one of the few new nickel sulphide mines to come on stream this year, and... 

Geovic trims capital, operating cost forecasts for Cameroon cobalt mine

By: Liezel Hill     3rd September 2008 Colorado-based Geovic Mining now expects its Nkamouna cobalt/nickel mine, in Cameroon, to cost $379-million, from a previous estimate of $397-million, the company announced on Wednesday. The firm has completed an optimisation study on the project, touted as the world's biggest primary cobalt... 

Independent Nickel backs sweetened offer from Victory

By: Liezel Hill     3rd September 2008 TSX-listed Independent Nickel has recommended that shareholders accept an improved all-share offer for the company from from Toronto-based Victory Nickel. Victory has offered 1,1 of its own shares for every Independent share, up from its original August 19 offer of a one-for-one exchange. 

Western Areas doubles resource at Aussie nickel prospect

By: Liezel Hill     2nd September 2008 ASX-listed Western Areas has increased the high-grade mineral resource at the company's Spotted Quoll prospect, in Western Australia, by 118%, to 1,05-million tons at an average grade of 7,2% nickel, for 75 140 t of contained nickel. The increase in estimated resources indicates the potential... 

Canadian Royalties CEO Faucher resigns

By: Liezel Hill     29th August 2008 TSX-listed Candian Royalties has appointed chairperson Glenn Mullan as interim president and CEO, Richard Faucher resigned from the positions, effective immediately. The company, which is developing the Nunavik nickel project, in Quebec, did not provide reasons for Faucher's departure. 

Implats boosts capex plan to R30bn, delays 2,5Moz target to 2015

By: Matthew Hill     28th August 2008 JSE- and LSE-listed Impala Platinum (Implats) would spend some R30-billion over five years to boost platinum production to the 2,5-million ounce level by 2015, which power concerns had pushed back by three years. A major contributor to this was the Leeuwkop project that it bought from African... 

Implats earnings climb 73% to R12bn

By: Matthew Hill     28th August 2008 Impala Platinum (Implats), the world’s number-two producer of the precious metal, on Thursday posted a 73% rise in headline earnings to R12,5-billion for the year to June 30, after higher prices more than offset a marginal drop in refined metal production. On a per-share basis, headline earnings... 

HudBay completes Skye tie-up, names new CFO

By: Liezel Hill     26th August 2008 Base-metals-miner HudBay Minerals has finalised its acquisition of Skye Resources, and has appointed Skye CFO David Bryson as CFO for the merged company, the firm said on Tuesday. Bryson replaces Jeff Swinoga, who has resigned to pursue other opportunities, HudBay said in a statement.  

African Eagle discovers nickel in Tanzania

By: Matthew Hill     26th August 2008 UK-based copper and gold explorer African Eagle Resources on Tuesday said that it had found a significant nickel deposit at Dutwa in Tanzania, which was the first of its type. MD Mark Parker said that the grades were “easily comparable” with those at many major nickel lateritic deposits worldwide. 

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close