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Nickel News

Norilsk extends deadline for sale of Polyus stake

By: Liezel Hill     19th March 2008 The world's biggest producer of nickel and palladium, Norilsk Nickel, has postponed a deadline for offers from prospective buyers of its 1% shareholding in Russian gold-miner Polyus Gold. 

Mega mergers may mean more assets up for sale

By: Liezel Hill     18th March 2008 The mooted combinations of mining giants BHP Billiton and Rio Tinto, and Companhia Vale do Rio Doce and Xstrata, would likely result in several relatively smaller planned and producing mines becoming available to prospective buyers, the head of Canadian miner HudBay Minerals said on Tuesday. The... 

Strong Canadian dollar, rising costs bite into HudBay earnings

By: Liezel Hill     18th March 2008 Canadian miner HudBay Minerals reported net earnings of C$227,1-million for 2007, compared with C$564-million a year ago, after increased production and higher metals prices failed to offset the effects of a surging Canadian dollar and higher operating costs. The company also attributed the... 

Dwyka made ‘solid progress' in first half

By: Olivia Soraya Spadavecchia     14th March 2008 Aim- and ASX-listed Dwyka said on Friday that it had made "solid progress" with all its strategic and operational objectives during the half-year, with exploration work starting on the Muremera nickel project, in Burundi, in conjunction with its partners BHP Billiton. To date BHP... 

Australia will be first to excel at mining ocean floor for gold, copper, top Canadian professor predicts

By: Irma Venter     14th March 2008 Did Jules Verne know something the rest of the world is only waking up to now? In 1870, Verne wrote in Twenty Thousands Leagues Under The Sea that "in the depths of the oceans there are mines of zinc, iron, silver and gold that would be quite easy to exploit". 

Norilsk wins auction for large Russian deposit

By: Liezel Hill     13th March 2008 The world's biggest producer of nickel and palladium, Norilsk Nickel, plans to conduct geological work with BHP Billiton on a big nickel, copper and platinum-group metals (PGMs) deposit, in Siberia, the company said on Thursday. Norilsk won an auction for the right to explore and mine the... 

Norilsk Nickel to sell 1% stake in Polyus Gold

By: Liezel Hill     11th March 2008 The world's biggest producer of nickel and palladium, Norilsk Nickel, has invited offers for a 1% stake in Polyus Gold, or about 1,9-million shares in the gold producer. 

Africa-focused explorer makes leadership changes

By: Matthew Hill     7th March 2008 Aim-listed nickel and uranium explorer Albidon has appointed geological engineer John Shaw as deputy chairperson, and that he will become chairperson in May, it announced on Friday. Dick Potts said previously that he would step down as chairperson of the Africa-focused firm at its annual general... 

Botswana’s Tati gets third crane for nickel expansion

By: Guy Copans     7th March 2008 Crane and hoist company Condra is to deliver a 145t maintenance crane at the end of April for Tati Nickel’s Activox expansion project at Phoenix Mine, Botswana. 

Pitchford's African Minerals to buy Canadian explorer

By: Liezel Hill     6th March 2008 Aim-listed African Minerals, which is headed by former African Platinum and Zimbabwe Platinum CEO Roy Pitchford, has agreed to buy Canadian explorer White River Resources for £2,36-million in shares, the company announced on Thursday. 

Madagascar drilling results ‘encouraging' - Jubilee

By: Olivia Soraya Spadavecchia     5th March 2008 Mining exploration and development company Jubilee Platinum on Wednesday reported further encouraging drill results from the Antsahabe prospect in the northern area of its Londokomanana nickel-copper property, located in Madagascar. Drilling intersected two wide zones of nickel and copper... 

Former Lundin exec appointed new head of Skye Resources

By: Liezel Hill     29th February 2008 Vancouver-based Skye Resources has named Colin Benner as its new CEO and vice-chairperson, the company announced on Friday. 

Vale Q4 profit rises to $2,57bn

By: Liezel Hill     29th February 2008 Brazilian resources giant Companhia Vale do Rio Doce (Vale) increased fourth quarter net earnings to $2,57-billion, the group reported on Thursday. “Vale completed in 2007 the fifth consecutive year of extraordinary growth in its activities,” the group said in a statement. 

Admixtures play vital role in Tati Nickel contract

29th February 2008 Admixtures supplied by Chryso South Africa are playing an important role in the expansion and construction of Tati Nickel mining company’s 12 mt dense medium separation (DMS) project in Botswana 

Exxaro has 17 coal, mineral sands, base-metal projects on way

By: Keith Campbell     29th February 2008 Although diversified South African mining group Exxaro regards itself as currently being in a consolidation phase – the company was only created in 2006 – it is not ruling out future expansion projects, and has inherited a significant project pipeline from the companies it was formed... 

Lundin reviews asset portfolio as new chief takes stock

By: Liezel Hill     28th February 2008 Base metals miner Lundin Mining is taking a close look at all its operations and investments, with a view to managing assets more actively and improving the quality of its portfolio, new CEO Phil Wright said on Thursday. Wright replaced former chief Karl-Axel Waplan in January. 

High River buys Russian nickel deposit

By: Liezel Hill     23rd February 2008 TSX-listed High River Gold Mines has, through its 85%-owned Russian subsidiary, OJSC Buryatzoloto, bought the Chaya nickel deposit, in an auction held this week by the Russian Ministry of Natural Resources, the company said on Friday. 

Nickel 'well supported' at $25 000/t going forward

By: Matthew Hill     22nd February 2008 The market for nickel, mainly used in stainless steel production, would support a price of $25 000/t going forward, VM Group CEO Jessica Cross said at this year's Mining Indaba. 

Xstrata extends offer for nickel-miner Jubilee

By: Liezel Hill     15th February 2008 Diversified miner Xstrata now owns 94,7% of ASX-listed Jubilee Mines, and has extended its offer for the smaller company, the group said on Friday.  

Vale iron-ore output rises to record

By: Liezel Hill     15th February 2008 Brazil-based Companhia Vale do Rio Doce (Vale) lifted its iron-ore production to a record 296-million tons in 2007, an increase of 12% on the previous year's performance, the company reported on Friday. However, iron-ore output fell short of the company's own forecasts, because of heavy... 

Containerised control centres on the move

By: Shannon de Ryhove     15th February 2008 Low- and medium-voltage component supplier CHI Control, a division of Alstom Low Voltage Equipment, has been awarded a contract for the manufacture and supply of containerised low voltage (LV) motor control centres (MCC) for the Munali nickel mine, in Zambia. The contract is worth an estimated... 

Skye boosts resource estimate for Fenix project

By: Liezel Hill     13th February 2008 Vancouver-based Skye Resources has increased the measured and indicated resource for its Fenix nickel project, in Guatamala, by 13,9-million tons, to 108,8-million tons, the company said on Wednesday.  

Galore Creek review will likely take more than a year – Teck Cominco chief

By: Liezel Hill     12th February 2008 Vancouver-based diversified miner Teck Cominco expects a review of its jointly-owned Galore Creek project, in British Columbia, to take at least a year, and “probably more”, president and CEO Don Lindsay said on Tuesday. Teck and partner NovaGold said in November last year that they... 

Arm expects H1 headline EPS to rise as much as 40%

By: Liezel Hill     12th February 2008 Diversified mining company African Rainbow Minerals (Arm) expects headline earnings a share for the six months ended December 31, 2007, to be between 25% and 40% higher than for the same period of 2006. 

Mirabela launches feasibility study for Brazil nickel smelter

By: Liezel Hill     11th February 2008 TSX- and ASX-listed Mirabela Nickel has given the go-ahead for a feasibility study into a nickel-sulphide smelter at its Santa Rita project, in Brazil, after receiving positive results from a scoping study into the proposed plant. 

US recession would rout base metals prices - economist

By: Jade Davenport     4th February 2008 Canada-based Dundee Wealth Economics chief economist Dr Martin Murenbeeld said on Monday that a looming recession in the US was the most immediate factor challenging the sustainability of curently-high commodity prices. 

Nickel 'well supported' at $25 000/t going forward

By: Matthew Hill     4th February 2008 The market for nickel, mainly used in stainless steel production, would support a price of $25 000/t going forward, VM Group CEO Jessica Cross said on Monday.  

Norilsk lifts output 20% on acquisitions

By: Liezel Hill     31st January 2008 The world's biggest nickel miner, Norilsk Nickel, increased production by alnost 21% during 2007, to 295 209 t, after it bought the nickel business of OM group in March, and, later in the year, beat Swiss miner Xstrata in a bidding war for Canada's LionOre Mining. 

Skye defers finance, construction for Guatemala nickel project

By: Liezel Hill     30th January 2008 Vancouver-based Skye Resources will defer the project financing for its Fenix nickel project in Guatamala “until credit market conditions improve”, the firm said on Wednesday. 

SA's power supply may influence timing of Sheba's Ridge project - Ridge Mining

29th January 2008 Platinum group-metals (PGMs) producer Ridge Mining said on Tuesday that it was considering "energy alternatives" to ensure uninterrupted power supply for its South African-based Sheba's Ridge nickel/PGMs project. 

Vale bid for Xstrata imminent - reports

By: Liezel Hill     28th January 2008 The world's biggest producer of iron-ore, Brazil-based Companhia Vale do Rio Doce (Vale), has arranged a $50-billion financing plan from international banks, and plans to launch a bid for rival Xstrata within the next few days, according to newspaper reports. 

HudBay Minerals replaces CEO, shares gain

By: Liezel Hill     25th January 2008 Canadian miner HudBay Minerals announced unexpectedly, late on Thursday, that its president and CEO, Peter Jones, had resigned and would be replaced, effective immediately, by chairperson Allen Palmiere. 

Drilling in DRC may yield high gold deposits

By: Sylvester Haskins     18th January 2008 Pan-African resources company, Mwana Africa plc, reports positive results from its gold drilling programme in its Zani-Kodo joint venture with State-owned gold mining company Okimo, in the Democratic Republic of Congo (DRC) where it holds exploration rights in the Orientale province, the company... 

Nickel exploration under way at premier Botswana nickel district

18th January 2008 The exploration of nickel prospects by Africa-focused mining company, Albidon Limited, is under way at numerous nickel-copper occurrences in prospective, yet under-explored geology at Africa’s premier nickel mining district, situated to the south of Selebi-Phikwe in Botswana, reports the company. 

Metorex finds share plunge 'bizarre' 

By: Matthew Hill     16th January 2008 JSE- and LSE-listed diversified miner Metorex said on Wednesday that the recent weakening of its share price was "bizarre", as the firm's fundamentals "have never, ever been better", but it expected that trading in its securities should stabilise after its offer to Copper... 

AngloGold Ashanti may consider legal challenge to Argentina export taxes

By: Liezel Hill     11th January 2008 Gold major AngloGold Ashanti would consider following other mining companies with operations in Argentina in a court challenge to new export taxes, if discussions with the country's government proved unsuccessful, spokesperson Alan Fine said on Friday. 

Rio Tinto to build US nickel mine, boost Oz coal capacity

By: Liezel Hill     17th December 2007 Not to be accused of resting on its laurels, takeover target Rio Tinto on Monday announced investments worth some $1,1-billion, including the construction of the group's first nickel mine and plans to expand coal output in Australia. “Today we have announced investments of more than $1... 

Albidon raises $45m, says Munali project fully funded

By: Matthew Hill     14th December 2007 Nickel-miner Albidon said on Thursday that it had raised $45-million by selling shares to UK, Zambian and Chinese investors. 

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