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.
Nickel Mining News
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 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 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.
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.
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, […]
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, 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 […]
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 […]
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.
Citigroup’s Metals and Mining team issued a note Monday talking about how fund flows - not global economic growth - are driving commodities prices higher.
Bindura Nickel signs output off-take agreement with Glencore International. Bindura predicts yearly nickel output at7,000 tonnes.
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 […]
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 […]
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.
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 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 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, 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 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.
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 […]
Xinjiang Xinxin to pull out all the stops to meet environmental regulations and get government go-ahead to build copper smelter.
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.
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.
(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