Orbite rises on first trading day following Feb suspension

Shares in Orbite Aluminae, which hopes to produce the raw material used to make aluminium from clay deposits in Quebec, rose nearly 5% on Thursday, as regulators lifted a trading halt that had been in place since February 23. Autorite des marches...

Aluminium prices could reach $2 500 by end Q2- Rusal

Aluminium prices are expected to rise up to 10% from current values by the end of the second quarter, as output cuts take effect, a senior executive at Rusal, the world's largest producer of the metal, said on Wednesday. Prices could rise up to...

Russia’s Renova mulling uplift of South African manganese business

The Russian Renova group is considering enhancement of its South African manganese operations, involving the possible integration of its Transalloys manganese smelter in Mpumalanga and its partly owned manganese mine in the Kalahari. It is...

Rio's $700m tax to boost Guinea's infrastructure

he government of Guinea will use 35% of a $700-million windfall from Anglo-Australian miner Rio Tinto to rebuild the mineral-rich West African nation's broken infrastructure, a Guinean official said on Sunday. Rio struck a deal with Guinea in...

Guinea launches mining contract review

Guinea will launch a nationwide review of mining contracts to root out "unconscionable provisions" granted by previous rulers, and has toned down Chinese involvement in the resource sector, Mines Minister Mohamed Lamine Fofana told Reuters. The...

Power constraints, costs to weigh on Chinese aluminium output - Alcan

China will increasingly have to look abroad for its aluminium needs, as power constraints and an appreciating remnimbi put pressure on domestic producers, Rio Tinto Alcan CEO Jacynthe Côté said this week. “The supply side of the aluminium...

Russians Seek To Strengthen Their Metals Sector

IN an attempt to give some relief to its beleagured metals mining and processing companies, Russia has cut its export duties on nickel and copper.It has also been reported that the Russian government is considering writing off about $20-billion in...

Norilsk Nickel's proposed 49bn ruble buy-back opposed by Rusal

The world's biggest miner of nickel and palladium, Norilsk Nickel, plans to buy-back up to 7,95-million (about 4%) of the company's own shares, in a move to shore up the value of the stock, but aluminium giant United Company Rusal, which owns...

Metalloinvest may take stake in Norilsk, but merger talks called off

The world's biggest producer of nickel and palladium, Norilsk Nickel, has called off discussions with Russian iron-ore and steel producer Metalloinvest. The company said in February that it was beginning a process of discussions with...

Daily podcast - April 25, 2008

In today's podcast: South Africa could still attain its target of 6% growth from 2010 despite the serious power emergency, South Africa could be dogged by blackouts for at least another 10 years, and platinum slips back into a deficit of over...

Rusal buys 25% stake in Norilsk

Aluminium giant Rusal has completed the acquisition of a 25% stake, plus on share, in the world's biggest producer of nickel and palladium, Norilsk Nickel.

Oleg Deripaska's Basic Element raises $100m to boost molybdenum production

Strikeforce Mining and Resources (SMR), a subsidiary of Russian billionaire Oleg Deripaska's Basic Element investment group, has secured a $100-million loan, part of which will be used to expand the company's molybdenum production by 10%...