Nickel Mining News

Aguablanca nickel mine to restart in 2012, Lundin says

Lundin Mining Corp. (TSX:LUN) says an assessment of its Aguablanca mine suggests full operations will likely restart in 2012 after a shutdown in December due to heavy rains, according to a report in The Brandon Sun: The base metals miner says it plans to spend the year preparing the mine to guarantee the operation's viability and safety after an assessment at the nickel mine in Spain.

First Quantum doubles quarterly profit

First Quantum Minerals posted a US$455 million profit in the third quarter, the Vancouver-based company reported on Tuesday. That compares with $227 million in earnings in the three months ended December 31, 2009. Sales of copper in Q3 were down from the same period last year, from 98,171 tonnes in Q3 2009 to 76,290 in the third quarter of 2010. However, the company ended the year with $1.385 billion in its treasury compared to $959 million in the previous year's Q3.

HudBay Minerals triples profit in Q4 2010

HudBay Minerals posted some big gains in its fourth-quarter and year-end financials, the Toronto-based miner reported on Wednesday. Net earnings in Q4 2010 more than tripled to $24.5 million, compared to $7.2 million in the fourth quarter of 2009. Year-end numbers were also impressive, with net earnings of $73 million — a 475% increase over 2009 after adjusting for gains on the sale of investments, the company stated.

Franconia Minerals Shareholders Approve Arrangement With Duluth Metals

Franconia shareholders have approved an agreement whereby Duluth will acquire all of the outstanding common shares of Franconia, and Franconia will become a wholly-owned subsidiary of Duluth. Franconia's assets are expected to be rolled into Twin Metals Minnesota LLC, a Duluth (60%) and Antofagasta plc (40%) joint venture.

Russia's young flock to Arctic mining town

Lung-blackening pollution and Arctic isolation have not stopped Russian mining giant Norilsk Nickel from attracting graduates to work in its mines. Andrey Ostroukh, writing for Reuters, describes how nickel and palladium mining have transformed this former Gulag town into a thriving city of 210,000.

Court action against URSA Major Minerals is dismissed

On Tuesday the Ontario Superior Court of Justice dismissed Inspiration Mining Corporation's court application against URSA Major Minerals. Inspiration sought to reverse a private placement that URSA closed on Jan. 31, 2011. "After legal argument, […]

West African iron-ore miner completes US$133 million placement

Bellzone Mining announced on Tuesday that it had completed a US$133 million placement of 102 million ordinary shares. Canaccord Genuity Limited was the lead manager. Bellzone, an AIM-listed company, is developing two iron ore and nickel/copper assets in Guinea, West Africa. The Kalia iron deposit, a 50mtpa iron ore operation, is the company's flagship project.

Michael Moore spotlights Vale for shutting down operations in Manitoba

Michael Moore, political activist and academy-award winner, took sides in the labour fight between Vale and the workers in Thompson, Manitoba. On Tuesday Moore wrote in his blog that the town and unions are resisting […]

Sherritt expecting production declines in Cuba this year

Canadian mining and energy company Sherritt is expecting production declines in Cuba in 2011, Cuba Standard reported: Sherritt, Cuba’s largest foreign investor, said in its fourth-quarter financial report that it expects moderate production declines in […]

Russia to build $3bn nickel smelter in Indonesia

Indonesia's chief economic minister said a group of Russian investors plan to invest $3bn in a nickel smelter on Halmahera island with groundbreaking expected to start in the first half of 2011.

Fund flows pushing commodities prices higher, but at what cost?

Citigroup’s Metals and Mining team issued a note Monday talking about how fund flows - not global economic growth - are driving commodities prices higher.

Zimbabwe: Mwana Africa's Bindura Nickel in off-take deal with Glencore

Bindura Nickel signs output off-take agreement with Glencore International. Bindura predicts yearly nickel output at7,000 tonnes.

Talvivaara's Primary Crushing Capacity Boosted by Crusher Cavity Optimization

Talvivaara mine, located in Northern Finland, is today the biggest sulfide nickel ore mine in Europe. In close cooperation with Metso, and with crusher cavity optimization, Talvivaara recently boosted its primary crushing capacity annually by […]

Bucko mine restart grows closer

Crowflight Minerals of Vancouver is making a $30-million private placement, part of which is earmarked for acquiring mining equipment and restarting the Bucko Lake nickel mine in the Thompson nickel belt near Wabowden. Part of […]

Deal reached in Labrador nickel strike

Brazilian mining giant Vale has reached a tentative settlement in an 18-month-long strike with workers at its Voisey’s Bay nickel mine in Labrador, the Globe and Mail reported.

Philippines hoping for a Colombia-like repeat in its mining sector

There are more than a few explorations companies drilling holes in the Philippines these days, all with the quiet hope that the country soon finds favour with serious resource investors in the much the same way that Ventana Gold and others became overnight rock stars, if you will, with their projects in Colombia.

Nickel Deficits To Be A Growing Concern

Nickel is your quintessential commodity – out of favor last year, in favor this year, meaning market deficits aplenty, with companies scrambling to fill the void left by dormant production during the down years.

Zinc, cobalt grabbing some ‘green’ traction

Zinc and cobalt often fall into that esoteric metals category called byproduct, meaning they are generally an afterthought for miners who are keen at getting at, say, nickel or copper deposits. Still, both metals are being increasingly targeted for their use in growing markets, such as rechargeable batteries for electric cars.

RUSAL co-owner says he expects new Norilsk offer

RUSAL, the world's top aluminium producer, expects a new offer from Norilsk Nickel for its 25 percent stake in the nickel giant, RUSAL co-owner and board chairman Viktor Vekselberg said on Jan. 24. Reuters reports:

European Nickel top two execs quit; Caldag ops doubtful

European Nickel  said its chairman and deputy chairman will step down, a month after the UK-based miner suspended work at its flagship Caldag mine in Turkey, according to a Reuters story.

RusAl files lawsuit against Norilsk Nickel

The world's top aluminum producer RusAl has filed three law suits against Norilsk Nickel, the world's largest nickel producer, over its deals with Trafigura Beheer BV, Inter RAO and a USD 4.5 billion buy back […]

We’ll save our copper smelting project, says China’s Xinjiang Xinxin

Xinjiang Xinxin to pull out all the stops to meet environmental regulations and get government go-ahead to build copper smelter.

North American Palladium & the growing demand for PGMs

North American Palladium hit a new 52-week high of $7.62 so far this week, in part because the market has gone gaga for all things palladium. The company's shares had been showing support around $6.69 and resistance in the $7.45 range, but investors continue to push palladium-minded stocks higher in the belief that growing demand for PGMs, or platinum group metals, will continue to be ramped up.

Surplus predicted for nickel in 2011 – Sumitomo

A number of analysts are now predicting a nickel surplus this year as Chinese stainless steel growth slows and new nickel mine projects come on stream.

Metallurgical test results confirmed for Turnagain project

(Vancouver) Hard Creek Nickel Corporation (TSX-HNC) released results today from locked cycle tests on the new composite sample ( Sample 10-265) collected from the recently drilled Hole 10-265 in the Horsetrail Zone of the Company's 100% owned Turnagain