Quadra, FNX punt tie-up as 'springboard' for future deals

Base-metals producers Quadra Mining and FNX Mining expect plans to merge the two companies, announced on Tuesday, will open the doors for further growth, including potential acquisitions of rivals with assets in other parts of the world. The...

Canada's Quadra and FNX Mining announce 'merger of equals'

Canadian base-metals miners Quadra Mining and FNX Mining have agreed on a “merger of equals”, to create a new company that will be called Quadra FNX Mining, with mines in Canada, Chile and the US and an expected market capitalisation of...

FNX says Levack footwall development of schedule, posts Q4 profit

Toronto-based FNX Mining is on track to begin commercial production in mid-2010 from its high-grade Levack Footwall deposit (LFD), CEO Terry MacGibbon confirmed on Friday. FNX is currently mining copper- and precious-metal-rich ore its McCreedy...

FNX reports new discovery in Sudbury

Toronto-based FNX Mining has made a new mineral discovery on its Victoria property in the Sudbury Basin, the company announced on Tuesday. It has discovered a new mineralised environment containing wide widths of “mining-camp grade” nickel,...

FNX says Sudbury 'remains challenging', mulls acquisitions

The situation in Canada's nickel-rich Sudbury region remains “challenging”, FNX Mining vice-president for investor relations Dave Constable said on Monday. “We don't know tomorrow morning whether things will change drastically on the strike...

Junior buys Teck's Morelos gold project

TSX Venture Exchange-listed Gleichen Resources has completed its acquisition of 78,8% of the Morelos gold project, in Mexico, from diversified miner Teck Resources, the companies announced on Tuesday. In a transaction first announced in August,...

Current nickel price not 'realistic' – FNX chief

The nickel market is skewed at the moment by a strike at Vale Inco's Sudbury, Ontario, and Voisey's Bay operations, which raises questions over the sustainability of the current price, FNX Mining CEO Terry MacGibbon said on Thursday. FNX also has...

FNX Mining Q3 loss widens

Toronto-based FNX Mining has posted a bigger third-quarter loss this year than in 2008, after revenue dropped 75% and the firm recorded a big impairment charge on its holding in fellow Canadian Gold Wheaton. Brazilian-owned Vale Inco, which has a...

FNX not losing sleep as Vale Inco strike drags on

Canada's FNX Mining is well positioned to ride out a strike at Vale Inco's Sudbury, Ontario, operations, at least until the end of this year, CEO Terry MacGibbon said on Friday. Brazilian-owned Vale Inco processes all the ore produced at FNX...

FNX posts C$12,5m profit, will send ore to Xstrata mill

Toronto-based FNX Mining earned C$12,5-million in the second quarter, compared with C$11,3-million a year earlier, and has signed an agreement with larger rival Xstrata to process ore at Xstrata's nearby mill, the firm said on Friday. Revenue...

Strike spectre looms after Vale Inco, union break off talks

Contract negotiations have broken down between nickel miner Vale Inco and the biggest union at its Sudbury, Ontario, operations, with less than a week to go before the current collective agreement expires at midnight on July 12. Both sides...

FNX may look to Xstrata to process Sudbury ore

Mid-tier miner FNX Mining has held discussions with larger rival in the Sudbury region, Xstrata Nickel, on possibly sending ore from its mines to Xstrata's Sudbury mill, CEO Terry MacGibbon said on Tuesday. FNX has an offtake agreement with the...