Impairments lead to $105.4m Q4 loss for Franco-Nevada

Franco-Nevada Corporation, the biggest gold royalty and streaming company, swung $105.4-million into the red for the fourth quarter, after the Toronto-based firm suffered $169.9-million in impairment charges. Stripping out the one-time charges,...

Quadra FNX hits commercial production at new Sudbury deposit

Canadian copper miner Quadra FNX Mining has achieved commercial production at the Morrison deposit, which forms part of its Sudbury operations, the firm reported on Monday. The company is still dealing with some operational difficulties at...

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 restarts ore deliveries to Vale Inco mill

Toronto-based FNX Mining would start delivering ore on Wednesday from its Sudbury operations to Vale Inco's Clarabelle mill, spokesperson David Constable told Mining Weekly Online. Vale Inco, which has a long-term processing agreement covering all...

FNX still stockpiling Sudbury ore, can continue for 'several weeks'

Canada's FNX Mining continues to stockpile ore being mined from its operations in Sudbury, Ontario, and can continue to do so for “several weeks” if neccessary, spokesperson Dave Constable said on Friday. FNX has an offtake agreement with...

FNX keeps mining in Sudbury

Toronto-based FNX Mining is continuing mining at its Sudbury operations, and will stockpile ore until Vale Inco, which processes FNX's ore, restarts its mill. FNX has an offtake agreement with Vale Inco, which processes and markets all the firm's...

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 posts Q1 loss

Sudbury-focused FNX Mining on Thursday reported a net loss of C$26,15-million for the first quarter of this year, after nickel prices weakened year-on-year and the company wrote down its investment in gold-stream company Gold Wheaton. A year...

Vale Sudbury shutdown is 'manageable' - FNX

TSX-listed FNX Mining could temporarily halt some or all of its mining operations in Canada's Sudbury Basin later this year, after larger rival Vale Inco announced that it will close its own mines and processing facilities for eight weeks,...

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...