FNX expects 31% higher output in 2010

Canada's FNX Mining expects to ship 891 00 t of ore next year from its Sudbury mines, an increase of 31% compared with 2009, the firm said on Wednesday. Total production in 2010 is forecast at 48,1-million pounds of copper, 7,7-million pounds of...

FNX will raise C$125,5m in bought deal

Canada's FNX Mining plans to raise C$125,45-million in a bought-deal financing, and will use the cash for general corporate purposes “and to take advantage of any future business opportunities”, the company said on Tuesday. A syndicate of...

FNX plans to keep mining, stockpiling for now

Canada's FNX Mining will likely continue to mine and stockpile ore at its Sudbury operations while Vale Inco's processing facilities are shut down, CEO Terry MacGibbon said on Thursday. However, this situation could change if Vale Inco fails to...

FNX plans to raise C$15m in flow-through financing

TSX-listed FNX Mining will raise up to C$15-million by selling 2,17-million flow-through shares, to fund exploration on the company's Sudbury properties. The firm has engaged Primary Capital to issue and sell the shares at C$6,90 apiece, with...

FNX can move 'quickly, economically' to boost or cut output

Toronto-based FNX Mining is prepared to act quickly to reduce, increase or suspend production as conditions warrant, but would wait for proof of a sustained recovery in metal prices before restarting halted operations. The company owns mines in...

FNX cancels $100m credit facility as borrowing costs soar

Base-metals miner FNX Mining has opted not to renew a $100-million line of credit facility, because the costs involved would be "significant", and the company believes its balance sheet is strong enough to support planned spending in 2009. "As a...

FNX announces more Sudbury nickel cutbacks, chops 307 jobs

Canadian base-metals miner FNX Mining will extend the suspension of nickel ore mining at its Levack mine, and also plans to halt nickel ore production from the adjoining McCreedy West mine, effective immediately. Nickel-ore mining will be halted...