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Nickel News

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. 

London-listed miner reports nickel deposit in southern Malawi

By: Marcel Chimwala     14th December 2007 Exploration undertaken by UK-listed company Lisungwe plc in southern Malawi has established the existence of large nickel deposits at Chimimbe and Chimwadzulu. 

Xstrata announces additional resources at nickel, copper projects

By: Christy van der Merwe     14th December 2007 Diversified miner Xstrata has announced increased inferred resources for two of its projects, namely Xstrata Nickel's Raglan operation in northern Quebec, and Xstrata Copper's Tampakan operation in the Phillipines. 

Xstrata has 36,12% of Jubilee Mines, extends offer to Jan 31

By: Liezel Hill     7th December 2007 Xstrata Nickel Australia, a wholly owned subsidiary of Xstrata, has extended its recommended takeover offer for Australian nickel-producer Jubilee Mines to January 31, the group said on Friday.  

Anglo-linked company scours the ocean floor for precious and base metals

By: Irma Venter     7th December 2007 There is quite a bit more underneath the sea than diamonds and oil. 

Norilsk appoints Oleg Lobanov finance director

6th December 2007 World-number-one nickel and palladium producer Norilsk Nickel has appointed Oleg Lobanov to the position of deputy general director for finance, effective January 9, the company said on Thursday. 

Oz firm agrees to buy BHP's Snowbird nickel project in Canada

By: Liezel Hill     6th December 2007 Australian exploration company Western Metals has agreed to buy diversified mining giant BHP Billiton's Snowbird nickel project, in Canada's Northwest Territories, for $1,5-million, the company said on Thursday. 

Geovic receives feasibility study for Cameroon cobalt/nickel project

By: Olivia Soraya Spadavecchia     5th December 2007 TSX-listed Geovic Mining's subsidiary Geovic Cameroon (GeoCam) has received a feasibility study on the Nkamouna cobalt/nickel project, in Cameroon, which indicated that yearly cobalt production has increased by 26% to 9,2-million pounds and nickel production by 17% to 7-million pounds, it... 

Xstrata announces additional resources at nickel, copper projects

By: Christy van der Merwe     5th December 2007 Diversified-miner Xstrata on Wednesday announced increased inferred resources for two of its projects, namely Xstrata Nickel's Raglan operation in northern Quebec, and Xstrata Copper's Tampakan operation in the Phillipines. 

Mwana expects Zim unit to report loss on currency depreciation

By: Liezel Hill     3rd December 2007 LSE-listed Mwana Africa could post a loss of up to £4-million for the six months ended September 30, as a result of the "severe impact" of the depreciation of the Zimbabwean dollar, the company said on Monday. 

Diversified miner to develop New Caledonia project

30th November 2007 Diversified mining company Xstrata plc has approved the development of the Koniambo project, a major long-life, low-cost, openpit nickel mine, metallurgical plant and associated infrastructure, located in the North Province of New Caledonia last month.  

Xstrata gain access to Australian nickel

30th November 2007 The world's fourth largest nickel miner Xstrata has agreed to buy Jubilee Mines NL for A$3,1-billion ($2,9-billion) to gain access to the metal in Australia. 

Miner targets platinum, coal and nickel expansion

30th November 2007 Diversified mining group Xstrata Resources (Xstrata) is targeting the platinum, coal, and nickel sectors in a move to achieve company growth.  

$3,2bn in place for Ambatovy nickel/cobalt project

By: Innocent Madawo     30th November 2007 Production at one of the world's largest nickel- and cobalt-mining and processing ventures, the Ambatovy project, in the Indian Ocean island nation of Madagascar, is set to begin in 2010. 

Japan helping South Africa towards creating technology-based economy

By: Esmarie Iannucci     30th November 2007 South Africa and Japan this month signed a joint statement on minerals.  

Canadians rope in Koreans to raise capital for Namibian uranium venture

By: Felix Njini     23rd November 2007 Toronto Stock Exchange-listed Forsys Metals Corporation has roped in Korean nuclear energy firm Korea Hydro & Nuclear Power Company (KHNP) to help raise capital for its Namibian uranium venture which, company officials say, is to take off in 2009. 

SA project house has big African aspirations

By: Jonathan Faurie     9th November 2007 Resources-focused project specialist TWP Consulting - part of TWP Holdings which will list on the JSE this month - is finalising the company's growth aspirations for Central Africa as part of its larger African expansion strategy, newly appointed TWP Consulting CEO Digby Glover tells Mining Weekly. 

Expansion to increase nickel production to 20 500 t

9th November 2007 South Africa 

Xstrata offers A$3,1bn for Australia’s Jubilee Mines

By: Matthew Hill     29th October 2007 Fast-growing diversified giant Xstrata on Sunday unveiled another acquisition, this time a A$3,1-billion recommended cash offer for Australian nickel producer Jubilee Mines. 

'Positive' results from Namibian drilling programme

By: Matthew Hill     23rd October 2007 Aim-listed base metals-producer Weatherly International on Tuesday said that it had seen “positive” results from exploration drilling at its Namibian Gross Otavi copper/lead prospect. 

Final feasibility study expected next month for Cameroon project

By: Olivia Soraya Spadavecchia     16th October 2007 TSX Venture-listed Geovic Mining's 60% owned subsidiary Geovic Cameroon (GeoCam) expects to release the final feasibility study (FFS) of the Nkamouna cobalt/nickel/manganese project next month. 

Jubilee reports 'exceptional' results from Tjate borehole

By: Matthew Hill     11th October 2007 Intersects grades of between 5,96 g/t and 11,05g/t platinum group metals. 

Top analyst points to cost risk of R3,2bn nickel expansion

By: Leandi Kolver     5th October 2007 African Rainbow Minerals and Russian mining company Norilsk Nickel have approved a R3,2-billion phase two mining expansion at the Nkomati nickel mine, in Mpumalanga. 

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