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Nickel News

Discovery Metals moves to final testing phase at Botswana nickel project

By: Olivia Soraya Spadavecchia     31st August 2007 Metallurgical tests, based on oxidation heap leaching of samples of nickel-copper sulphide mineralisation from Discovery Metals' Dikoloti nickel project in northeast Botswana, are progressing to their final phase of testing following positive initial tests. 

Sipho Nkosi to take the helm at Exarro

By: Matthew Hill     31st August 2007 Spring day, September 1, has traditionally signified a season of new beginnings, which which will ring particularly true in the case of South Africa�s biggest black-owned mining firm, Exxaro Resources, when Sipho Nkosi replaces Dr Con Fauconnier as CEO on the day.  

Nothing to suggest that stable aluminium prices will move up or down significantly

By: Irma Venter     31st August 2007 London-based Natixis Commodity Markets (NCM) projects a relatively balanced aluminium market this year, with the deficit expected at 50 000 t for 2007, compared to last year’s 357 000 tons. 

Implats to surpass R25bn 5yr capex plan if proposed 17 shaft goes ahead

By: Matthew Hill     30th August 2007 World number-two platinum producer Impala Platinum (Implats) could lift its five-year planned capital spend well beyond the R25-billion announced in June if directors approve a project to build a new 17 shaft, which would cost 'substantially more' than R3-billion, its chief said on... 

Zimplats on shaky ground as Zimbabwe moves to pass controversial bill

By: Matthew Hill     30th August 2007 The world's second-biggest platinum producer, Impala Platinum (Implats), said on Thursday that it had no closure on what its standing in Zimbabwe would be after a far-reaching bill being drafted by the government was passed, and did not expect to know anytime soon. 

Explorer gears up for precedent-setting AltX listing

By: Matthew Hill     23rd August 2007 Aim-listed exploration firm African Eagle Resources, which debuts on Johannesburg's burgeoning AltX on Friday, could be the first of many Aim-listed exploration companies to join the Johannesburg bourse, it said on Thursday. 

Norilsk integrates African ops after LionOre deal, may turn acquisitive later

By: Matthew Hill     21st August 2007 World number-one nickel and palladium producer Norilsk Nickel, which in June bought nickel miner LionOre, said last week that the acquisition created a strong platform for further growth in Southern Africa, but that it was in no hurry to make further buyouts. 

Norilsk may build Activox plant to more than quadruple output at Nkomati

By: Matthew Hill     17th August 2007 World number-one nickel producer Norilsk Nickel could build a smelter/refinery, boasting its patented Activox technology,at its 50%-owned Nkomati mine in Mpumalanga, which would allow it to increase production from 5 000 t/y of the silvery metal to some 22 000 t/y in 2012, it said on Friday. 

Exxaro's earnings leap 61% on soaring commodity prices

By: Matthew Hill     16th August 2007 South Africa's biggest black-owned mining company Exxaro Resources reported on Thursday that its earnings for the six-months ended June 30 shot up 61% year-on-year to R839-million, or R2,46 a share, on the back of buoyant commodity prices. 

Base-metals miner Lundin's Q2 earnings jump 86%

By: Matthew Hill     14th August 2007 Vancouver-domiciled base metal producer Lundin Mining on Tuesday reported net earnings for the quarter ended June 30 of $160-million, translating to an 86% year-on-year rise in basic earnings a share, to US56c a share. 

Madagascan prospect to receive $1,25m more for exploration

By: Matthew Hill     6th August 2007 Junior platinum exploration and development firm Jubilee Platinum and its partner in Madagascar, Impala Platinum (Implats), will spend up to $1,25-million in the second exploration phase at their Ambodilafa nickel, copper, and platinum prospect in the country, the two announced jointly on Monday. 

Anglo American interim earnings jump 22% to record $3,1bn

By: Matthew Hill     3rd August 2007 One of the world's biggest mining groups, Anglo American, said on Friday that its operating profit for the six months ended June 30 had increased by nearly 20% year-on-year, to $5,5-billion, or about R40-billion, while underlying earnings reached a record $3,1-billion, or some R22-million,... 

Burundi nickel prospect shows similarities to nearby Kabanga project - Dwyka

By: Liezel Hill     30th July 2007 Aim- and ASX-listed Dwyka Resources said on Monday that drilling at its Muremera nickel project, in Burundi, had indicated that similarities exist between the Muremera orebody and that of the adjacent Kabanga project, in Tanzania, which is being developed by Xstrata and Barrick Gold. 

Angloplat H1 headline earnings up 47%

By: Matthew Hill     30th July 2007 World number-one platinum producer Anglo Platinum (Angloplat) said on Monday that its headline earnings for the half-year ended June 30 had increased by 47% to R29,43 a share, on the back of soaring metal prices and a weaker rand/dollar exchange rate. 

'World zinc, lead stocks at critical low'

By: Martin Creamer     25th July 2007 World zinc and lead stocks had reached a critical low, Mount Burgess Mining MD Nigel Forrester said in Gaborone on Wednesday.  

Bateman Engineering wraps up R117,6m acquisition

11th July 2007 Engineering project house Bateman Engineering has completed the acquisition of Metplant Engineering Services for A$19,55-million, or about R117,6-million, boosting the company's nickel and gold process engineering capability. 

Shield granted another prospecting permit in Mauritania

By: Matthew Hill     4th July 2007 ASX-listed explorer Shield Mining (Shield) announced on Wednesday that it had received yet another permit to search for gold and base metals in Mauritania. 

Norilsk owns 90% of LionOre

By: Matthew Hill     29th June 2007 The world’s biggest nickel producer, Norilsk Nickel, (Norilsk) announced on Friday that it had acquired 90% of Canada-based LionOre’s common outstanding shares before the June 28 close of its offer to buy the firm for $27,50 a share. 

Jubilee to issue shares to buy remaining Madagascan stake

By: Matthew Hill     14th June 2007 Junior exploration and development company Jubilee Platinum (Jubilee) said late on Wednesday that it would apply to the London Stock Exchange and the JSE to place 850 000 new shares with institutions, to raise nearly £1-million pounds, which it would use to buy the remaining 15% stake in a... 

LionOre ends Xstrata agreement, to pay C$305m break fee

By: Matthew Hill     8th June 2007 Junior nickel producer LionOre Mining International (LionOre) said on Thursday that it would close its support agreement with Xstrata for its C$25 a share bid, and subsequently pay the diversified giant its C$305-million, or R2,1-billion, break fee. 

Jubilee completes scoping study for $400m mine at Tjate

By: Matthew Hill     6th June 2007 JSE- and Aim-listed platinum junior Jubilee announced on Wednesday that a scoping study at its flagship Tjate project, on the eastern limb of the Bushveld Complex, revealed positive returns of 22% for a $400-million, or R2,87-billion, initial investment. 

Xstrata bows out of LionOre bid battle

By: Matthew Hill     4th June 2007 Diversified resources firm Xstrata announced at the weekend that it had told junior Canadian miner LionOre Mining International that it would not match Russian giant Norilsk Nickel's C$6,8-billion cash offer for the company. 

Finns give competition nod to Norilsk's LionOre bid

By: Matthew Hill     31st May 2007 The world's biggest nickel producer, Norilsk Nickel, said on Thursday that it had received Finnish competition approval for its proposed acquisition of LionOre Mining, it said on Thursday. 

Gilbertson-led group to create $1,5bn resources investment fund

By: Matthew Hill     28th May 2007 Resources investment vehicle Pallinghurst Resources (Pallinghurst), chaired by former BHP Billiton CEO Brian Gilbertson, Cayman Islands-based AMCI ConsMin and financial services provider Investec had agreed to create an alliance that could have as much as $1,5-billion, or R10,6-billion, to buy... 

Junior mining index market cap tops R100bn

By: Nelendhre Moodley     28th May 2007 The NedSec Junior Mining & Exploration Index (NSJME) has reached a free-float weighted market capitalisation of R104,6-billion, Nedbank Capital said in a statement on Monday. 

Xstrata extends LionOre offer period

By: Nelendhre Moodley     28th May 2007 Diversified mining group Xstrata Plc on Monday announced the extension of the expiry time for its all-cash offer to acquire LionOre Mining International (LionOre), for C$25,00 a LionOre share, from Friday, 25 May 2007 to midnight (Vancouver time) on June 7, 2007. 

Revised Norilsk bid represents superior offer - LionOre

By: Matthew Hill     25th May 2007 Junior nickel producer LionOre Mining International (LionOre) on Thursday said that Russian Norilsk Nickel's C$6,8-billion offer was superior to diversified mining giant Xstrata's C$6,2-billion bid for the Canada-based company. 

LionOre board to consider revised Norilsk offer

By: Matthew Hill     24th May 2007 Canada-based nickel-miner LionOre Mining International (LionOre), which has been in the middle of a bidding war between diversified mining giant Xstrata and Russia's Norilsk Nickel, said that it had reviewed the Russian firm's press release stating that it would increase its takeover... 

LionOre shares rally as Norilsk outbids Xstrata again

By: Matthew Hill     23rd May 2007 Junior nickel-miner LionOre shares have rocketed by more than 40% since Russia's Norilsk Nickel (Norilsk) announced on May 3 that it would pay more than diversified giant Xstrata's takeover bid for the company, and further upward movement seems inevitable, as the Russian firm said on... 

Zambezi Resources agrees to form uranium JV with Zambezi Nickel

By: Matthew Hill     22nd May 2007 Aim-listed exploration firm Zambezi Resources announced on Monday that it had entered into an agreement with Zambezi Nickel to embark on a joint venture (JV) on its Oryx uranium prospect, in Zambia, in terms of which Zambezi Nickel could acquire the project�s uranium rights. 

Avalloy launches SA's first superalloy plant

By: Mariaan Webb     21st May 2007 Metal producer Avalloy opened South Africa's first superalloy plant to produce alloys from locally mined nickel, cobalt and chrome on Monday, and formalised a supplier agreement with Rolls-Royce. 

Break fee in new Xstrata LionOre offer 'unreasonably high' - Norilsk

By: Matthew Hill     16th May 2007 The world's-biggest nickel producer, Russia's Norilsk Nickel, expressed surprise and disappointment that Xstrata's new offer to acquire LionOre had an 'unreasonably high' break fee, in an emailed statement on Wednesday. 

LionOre profit leaps on nickel prices

By: Nelendhre Moodley     15th May 2007 Canada's LionOre Mining International posted strong results, achieving new quarterly records for mineral sales, at over half a billion dollars, and operating earnings of $343,5-million for the first quarter 2007 financial and operational results. 

Xstrata ups the ante with LionOre counter bid

By: Matthew Hill     15th May 2007 Diversified mining giant Xstrata and nickel-miner LionOre Mining International announced on Tuesday that Xstrata had upped the ante in the bidding war for the Canadian nickel producer to C$25,00 a share, 35% higher than its first bid. This was after Norilsk lodged a counter-bid of C$21,50 a... 

Time running out for Xstrata in LionOre bid

By: Matthew Hill     14th May 2007 Nickel miner LionOre said on Monday afternoon that it had not yet received a second offer from diversified mining giant Xstrata, after Russia�s Norilsk announced a superior counter bid to the firm�s March 26 offer of C$18,40 a share, valuing the transaction at R28,9-billion. 

Nkomati expansion may cost R2,5bn

By: Matthew Hill     14th May 2007 South African diversified miner African Rainbow Minerals (Arm) said on Monday that a planned 15 000 t/y expansion at its 50%-owned Nkomati nickel mine could cost as much as R2,5-billion. 

Albidon secures $60m finance facility for Zambian nickel project

By: Matthew Hill     9th May 2007 The European Investment Bank (EIB) and Barclays Capital (Barclays) would act as joint lead arrangers to provide a $60-million financing facility for nickel exploration and development firm Albidon, which would completed the financing requirements of its Munali nickel project, in Zambia, it said... 

Xstrata has until May 14 to counter 'superior' Norilsk offer - LionOre

8th May 2007 Canadian nickel-miner LionOre Mining said on Tuesday that its board of directors had determined that Norilsk Nickel's C$21,50 a share offer for the company constituted a 'superior' proposal to a C$18,50 friendly bid by diversified miner Xstrata, announced last month. 

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