BHP Billiton (NYSE:BHP) added to market rumors that its nickel business is not relevant for the miner anymore by announcing yesterday it had merged the stainless steel materials unit with another struggling division: aluminum.
Nickel Mining News
A private club in Michigan's Upper Peninsula has filed a federal lawsuit to halt construction of a nickel and copper mine, saying Kennecott Eagle Minerals Co. did not obtain necessary federal permits.
Commodities rebounded on Monday after the huge selloff of the previous session, with nickel staging a big rally and bargain hunting lifting oil prices from their lows after investors shrugged off earlier fears about election outcomes in Europe.
More nickel coming onto the market from new or restarted mines is likely to depress the price of the metal used mainly in steelmaking, says Intierra:
Miningmx.com reports April has seen the lowest number of mining fatalities ever in South Africa, according to figures released by mines minister Susan Shabangu.
CLIME Asset Management founder John Abernethy has called on companies hit by the government's controversial mining tax to immediately disclose the financial impact on their business or face reprimands from the Australian Securities & Investments Commission.
Vancouver's First Point Minerals served notice of arbitration on Cliffs on Saturday because the iron and coal giant refuses to hand over crucial information about the tiny explorer's Decar project, set to become the world's first commercial nickel-iron alloy mine, effectively naturally-occurring 'stainless steel'. BlackRock, an asset manager with more than $3 trillion in assets picked up a stake in First Point two months ago.
First Point Minerals Corp. announces that it has served notice of arbitration on Cliffs Natural Resources Exploration Canada Inc. and Cliffs Natural Resources Exploration Inc. (collectively "Cliffs") over Cliffs' refusal to provide First Point with information prepared by their consultants with respect to the Decar Nickel-Iron Alloy Project in British Columbia.
Here’s a different way of showing how energy stocks have lagged.
Brazilian mining giant Vale (NYSE:VALE) announced the country's Superior Court of Justice ruled in favour of the federal tax authority in its appeal against an injunction granted in March suspending payment of taxes on overseas profits by the company.
Toronto-based First Nickel (TSX:FNI) had a good quarter, raising its production at the Lockerby mine 87% from Q4 2011.
A lower copper price and a strike at its Kansanshi mine in Zambia has bit into the bottom line at Africa-focused base metals producer First Quantum Minerals.
There is no such thing as an average miner. There is no such thing as an average salary. Yet we can get some idea of how well mining people are paid by looking at the average salaries for 2011 on US metal mines recently published CostMine.
There are conventionally 2,080 work hours in a year. Thus somebody earning a wage of $20 an hour gets the equivalent of a salary of about $42,000. Considering the mine manager makes about $100,000 to $150,000 a year, it is interesting to take a look at actual wages paid to miners in the United States in 2011.
Canada's gross domestic product surprisingly dropped 0.2% in February, with all fingers pointing at the manufacturing and mining sectors, particularly potash and nickel producers, as the main responsible, says the latest Statistics Canada report.
It may not be a first order recovery for mining project financing, but there are more than a few reasons to be cheerful in the mining space, Hallgarten's Christopher Ecclestone suggests.
Corporate Social Responsibility initiatives by mining companies operating in emerging markets in South America, Africa and Asia have become a crucial part of doing business as “above-ground risks are quickly gaining equal footing to traditional geological and engineering considerations for mining projects.”
Vale, the second largest mining company, fell to the lowest in over six weeks today, after reporting its third consecutive drop in quarterly profit driven by declining iron-ore prices and output.
Toronto-based Sherritt International had a rough quarter, revealing on Wednesday a 50% drop in earnings from $63 million to $32 million when measured against the same quarter of 2011.
Planetary Resources took the wrapper off the new company that plans to mine asteroids, and the company has half a road map on how to get precious metals out of the sky.
Canadian First Nickel Inc (TSX:FNI) shares were down almost 22% this morning (11:11 ET) to 70 Canadian cents, after the company was ordered to stop work at its key mine Lockerby by The Ontario's Ministry of Labour over safety issues.
Google's billionaire co-founders Larry Page and Eric Schmidt and filmmaker James Cameron will officially announce today plans to mine asteroids. The company's presentation will be broadcast live today at 1:30 p.m. ET.
While we may receive confirmation on Tuesday that James Cameron and some Google executives are going to start mining in space, CBC asked its readers if it's even a good idea and found strong support.
Brazilian mining giant Vale has taken the concept of mining diversification to a new level by announcing that it will start raising fish by its Sudbury, Canada, location.
Anton Berlin, head of marketing for Norilsk, says if prices rise above $20,000 a tonne on the back of Indonesia’s proposed ban on the export of ore, many idled mines can re-open.