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MiningWeekly.com | Mining Industry | Copper - Page 94
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R/€ = 17.5780 Change: 0.0323
R/$ = 16.9532 Change: -0.0482
Au 1760.99 $/oz Change: 11.18
Pt 1017.50 $/oz Change: 11.50
 

Nickel News

BacTech talking to partners for Cobalt tailings project

By: Liezel Hill     31st August 2009 Canadian junior BacTech Mining, which hopes to use its bioleaching technology to neutralise the arsenic content and recover cobalt, silver and nickel from as much as 18-million tons of tailings left behind in Cobalt, Ontario, is now in advanced talks with potential partners for the project, CEO... 

Talvivaara CEO sees nickel price pickup in H2 2010

By: Reuters     27th August 2009 Nickel prices are likely to fall this year, but could pick up in the second half of 2010 as government stimulus efforts rekindle demand, the chief executive of Finnish miner Talvivaara said on Thursday. The company reported a wider second-quarter operating loss, as technical problems reduced its... 

Vale Inco expects strike-hit Sudbury ops could be running within weeks 

By: Liezel Hill     26th August 2009 Brazilian-owned Vale Inco has officially decided to restart operations in Sudbury, Ontario, and could see mining resuming “within weeks”, spokesperson Cory McPhee confirmed on Wednesday. He said the company has not set a specific date, but will be training non-striking workers over the coming... 

Canadian Royalties seeks alternatives to 'low-ball' Jien offer

By: Liezel Hill     25th August 2009 Nickel hopeful Canadian Royalties has urged its share and debenture holders to reject a hostile offer from a company jointly owned by China's Jilin Jien Nickel and Canadian junior Goldbrook Ventures. Canadian Royalties' flagship asset is the Nunavik nickel project, but the company said last year... 

Mark Trevisiol new Crowflight CEO

By: Liezel Hill     21st August 2009 TSX-listed Crowflight Minerals, which owns the Bucko Lake nickel mine, in Manitoba, Canada, has appointed Mark Trevisiol as president and CEO. He replaces Mike Kelly, who has resigned, Crowflight said on Friday, without saying why.  

Vale Inco 'keeping options open' in Sudbury, union vows fight

By: Liezel Hill     20th August 2009 The United Steelworkers union (USW) warned on Thursday that any attempt by Brazilian-owned nickel-miner Vale Inco to run operations in Sudbury, Ontario, while some 3 100 of the union's members are on strike, would be a "huge mistake". Vale Inco spokesperson Cory McPhee confirmed on Thursday... 

FNX will raise C$125,5m in bought deal

By: Liezel Hill     18th August 2009 Canada's FNX Mining plans to raise C$125,45-million in a bought-deal financing, and will use the cash for general corporate purposes “and to take advantage of any future business opportunities”, the company said on Tuesday. A syndicate of underwriters co-led by BMO Capital Markets and GMP... 

Victory Nickel raises C$3,9m in rights offering

By: Liezel Hill     18th August 2009 TSX-listed Victory Nickel raised C$3,9-million in a rights offering, and will use the proceeds to continue exploration and development work on its Canadian projects in Manitoba and Quebec. The rights offering was fully subscribed and the company will issue 65,49-million unit, each comprising one... 

Sephaku to list on JSE main board this week

By: Creamer Media Reporter      18th August 2009 South African diversified exploration company Sephaku Holdings would list on the main board of the JSE on Friday. “We are indeed delighted to list our company on the JSE. We have, over the last four years, built a company with a solid strategy and [an] equally solid portfolio of assets. Our... 

FNX not losing sleep as Vale Inco strike drags on

By: Liezel Hill     15th August 2009 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 mines, but the smaller company has been stockpiling... 

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

By: Liezel Hill     14th August 2009 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 fell to C$61,9-million for the three months ended... 

BHP extends Mincor nickel offtake agreement to 2019

By: Esmarie Iannucci     14th August 2009 Australian nickel-miner Mincor Resources on Friday reported that BHP Billiton had exercised its option to extend the ore tolling and concentrate purchase (OTCP) agreements for a further nine years, to February 2019. The OTCP agreements provide for the toll treatment of Mincor’s ore through the... 

African Eagle sees ‘promising’ results from another Tanzania nickel project

By: Chanel de Bruyn     14th August 2009 Diversified minerals exploration company African Eagle Resources’ Zanzui nickel laterite project, in Tanzania, has shown “promising” results, with acid leach test results comparable to that of its Dutwa project. The results of the acid leach test, which was undertaken by South African... 

BHP Billiton returns massive $32bn to shareholders in seven years

By: Martin Creamer     12th August 2009 Diversified mining major BHP Billiton, whose record 2009 dividend represents a sixfold growth in seven years, has paid a massive $32-billion in cash to shareholders since BHP and Billiton merged in 2001, BHP Billiton CEO Marius Kloppers said on Wednesday. This year's dividend payout of... 

Canadian Royalties urges no action by shareholders while board mulls offer

By: Liezel Hill     11th August 2009 The board of nickel hopeful Canadian Royalties will review an unsolicited takeover offer from a company jointly owned by China's Jilin Jien Nickel and Canadian junior Goldbrook Ventures, and plans to make a recommendation to shareholders within 15 days, the firm said on Tuesday. Jilin Jien and... 

China's Jilin Jien, Canadian junior take shot at Canadian Royalties 

By: Liezel Hill     7th August 2009 Chinese exploration, mining, smelting, refining and chemicals group Jilin Jien Nickel Industry Co. will team up with Canadian junior Goldbrook Ventures, in an offer for explorer Canadian Royalties, the firms announced on Friday. Canadian Royalties' flagship asset is the Nunavik nickel project,... 

Lundin Mining earned $43,5m in Q2

By: Liezel Hill     6th August 2009 Canadian base-metals miner Lundin Mining posted second quarter net income of $43,5-million on Thursday, compared with a $108,4-million loss in the same period last year, when it recorded a $152,8-million noncash impairment charge. The Toronto-based firm also reported a first-quarter net loss of... 

Victory Nickel announces Chinese 'strategic investor'

By: Liezel Hill     4th August 2009 TSX-listed Victory Nickel has a new key investor, after shareholder Nuinsco Resources sold its 14,7% in the company to a subsidiary of Jilin Jien Nickel Industry Co. Jilin Jien has also bought 11,85-million rights to buy another 2,96-million units of Victory Nickel, each comprising one share and... 

Mirabela starts mining at Brazil nickel mine

By: Esmarie Iannucci     3rd August 2009 ASX- and TSX-listed base metals-miner Mirabela Nickel has started mining at its Santa Rita open-cut nickel sulphide mine, in Brazil. The mine will start with a production capacity of 4,6-million tons a year, and later increase to a capacity of 6,4-million tons a year during the second quarter of... 

Vale workers strike at Voisey’s Bay in Canada

By: Creamer Media Reporter      3rd August 2009 Brazilian diversified resources group Vale SA on Monday confirmed that unionised employees at its Voisey’s Bay operations, in the province of Newfoundland and Labrador, in Canada, had gone on strike at the weekend over a wage dispute. The workers had warned earlier that they planned to go on... 

African Eagle sees ‘promising’ results from another Tanzania nickel project

By: Chanel de Bruyn     3rd August 2009 Diversified minerals exploration company African Eagle Resources’ Zanzui nickel laterite project, in Tanzania, has shown “promising” results, with acid leach test results comparable to that of its Dutwa project. The results of the acid leach test, which was undertaken by South African... 

FNX still stockpiling Sudbury ore, can continue for 'several weeks'

By: Liezel Hill     31st July 2009 Canada's FNX Mining continues to stockpile ore being mined from its operations in Sudbury, Ontario, and can continue to do so for “several weeks” if neccessary, spokesperson Dave Constable said on Friday. FNX has an offtake agreement with Brazilian-owned nickel-miner Vale Inco, one of the two... 

Ramelius makes offer for Dioro Exploration

By: Esmarie Iannucci     30th July 2009 ASX-listed gold producer and nickel explorer Ramelius Resources has made an A$92-million conditional offer for fellow-Australian company Dioro Exploration. The offer came amid an all-share takeover bid by larger rival Avoca Resources, which currently held a 21,61% stake in Dioro. Avoca had on... 

Sherritt reports Q2 profit down 70% y-on-y

By: Liezel Hill     29th July 2009 Toronto-based Sherritt International earned C$24,4-million in the second quarter, a decline of just under 70% compared with the same period a year earlier. Sherritt has nickel, oil, gas and electricity assets in Cuba, oil and gas operations in Pakistan and Spain and coal assets in Canada, as... 

Dwyka extends offer for Minerva to Aug 11

By: Esmarie Iannucci     29th July 2009 ASX- and Aim-listed gold and nickel producer Dwyka Resources has now received an estimated 87,78% acceptance of the existing ordinary share capital, of its all share offer for Minerva Resources. Dwyka has also extended its offer until August 11. 

African Eagle starts Tanzania nickel feasibility study  

By: Esmarie Iannucci     29th July 2009 JSE-listed diversified mineral explorer African Eagle would begin work on the feasibility study of the Dutwa nickel laterite project, in Tanzania, it said on Wednesday. The company last week announced that it would raise £3,8-million to make a start on work leading to a feasibility study on the... 

Leinster scoping study review to be completed in Q3 – Braemore

By: Esmarie Iannucci     28th July 2009 JSE- and Aim-listed platinum and nickel producer Braemore Resources on Tuesday said that the Leinster nickel tailings project, located on diversified miner BHP Billiton’s property, in Western Australia, was moving steadily forward. The company said that BHP was currently conducting technical and... 

Anglo-suitor Xstrata puts its best production foot forward

By: Martin Creamer     28th July 2009 Anglo American-suitor Xstrata on Tuesday put its best production foot forward ahead of Anglo’s own presentation of financial results on Friday. The London- and Swiss-listed diversified miner, which wants Anglo to join it in a merger of equals to create a combined entity that could go toe-to-toe... 

Pala lifts stake in Crowflight, nominates directors

By: Creamer Media Reporter      24th July 2009 Pala Investments Holdings on Friday reported that it had acquired a further 13,99% stake in nickel junior Crowflight Minerals through a share placement. Pala acquired 60-million units, each unit consisting of one common share and one half of a common share purchase warrant. 

Kiwara expects start-up of Zambia copper mine in 2015, clinches IFC cash injection

By: Jonathan Faurie     10th July 2009 Mining junior Kiwara Resources is targeting 2015 as a possible date for first production from its Kawa-nga copper project, in Zambia. 

SADC mining sector reeling under the effects of the economic squeeze

By: Jonathan Faurie     10th July 2009 Since the onset of the global economic crisis, mining companies have been severely affected with issues such as funding and increased overheads causing many to ramp down unnecessary projects. 

Crowflight announces private placement to Pala

By: Liezel Hill     9th July 2009 Canada's Crowflight Minerals, which owns the Bucko Lake nickel mine, in Manitoba, has arranged to sell 60-million shares and 30-million warrants to Pala Investment Holdings, in a C$15-million private placement, the firm reported on Wednesday. The transaction will provide the company with the... 

Strike spectre looms after Vale Inco, union break off talks

By: Liezel Hill     7th July 2009 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 exchanged settlement proposals at the weekend and talks... 

Vale plans to sell 65,7m convertible notes

By: Liezel Hill     6th July 2009 The world's second-biggest mining company, Brazil's Vale, plans to sell 65,7-million mandatorily convertible notes due 2012, and will use the proceeds for “general corporate purposes”, the company announced on Monday. The notes will be sold in two series through a subsidiary, Vale Capital II.  

New low-cost Tanzanian nickel mine by 2012 – African Eagle 

By: Martin Creamer     3rd July 2009 The major nickel discovery at Dutwa in Tanzania was poised to eventuate into a low-cost mine by 2012 when some analysts were forecasting a nickel price of $8/lb, African Eagle operations director Chris Davies said at the weekend. Davies told Mining Weekly Online that the economic viability of... 

BHP to sell Queensland nickel refinery to Clive Palmer

By: Esmarie Iannucci     3rd July 2009 Diversified giant BHP Billiton has signed an agreement to sell the Yabulu nickel refinery, in Queensland, to companies owned by Professor Clive Palmer. The miner said in a statement that although none of the sales terms could be publicised, both parties had agreed that at the completion of the... 

Belgium-based metals major moving into mining

By: Keith Campbell     3rd July 2009 BELGIAN metals company Nyrstar has announced that it is to expand into mining. This was revealed with the release of the company’s Strategic Review last week. Nyrstar is a major global multi-metals producer, and is the world’s biggest producer of zinc metal and alloys and a leading global... 

Mithril, BHP withdraw from Western Australia nickel/gold project

By: Esmarie Iannucci     2nd July 2009 The Silver Swan North nickel and gold project, in Western Australia, would revert back to FerrAus, following Mithril Resources’ and BHP Billiton’s withdrawal from the joint venture (JV) project. Mithril Resources has agreed to transfer its JV interest to FerrAus in return for the grant of a 1,5%... 

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