WA Mines Minister, Norman Moore, told the Paydirt 2011 Australian Nickel Conference, last week that "the federal government's proposed Mineral Resource Rent Tax (M-R-R-T), and the carbon tax are challenges this government and industry are facing. The M-R-R-T is expected to apply from July 1 next year, applying a rate of 30% to all iron ore and coal projects. "The state government's position on this new tax is clear. ...we oppose it and believe it will threaten the WA resource industry's ability to compete in the global market place. ...the same sentiment applies to the proposed carbon tax. The WA resources sector is energy intensive and operates in a competitive world market. "....competing with nations which don't have a carbon price can only adversly affect our competitiveness. "...currently the federal government does not recognise the emergency of Africa, South America and Central Asia as attractive destinations for resources investment. "....the state government will continue to argue against the implementation of these taxes in negotiations with the federal government.
Nickel Mining News
Mining Weekly reported First Quantum Minerals (TSE:FM,LON:FQM) expects to ship nickel from the Ravensthorpe mine by the end of November.
Reuters reported Norilsk Nickel (LON:MNOD) is in talks with banks for a loan of up to $3.5 billion to buy back shares.
Despite a rancourous dispute with local landowners over compensation and infrastructure upgrades and an appeal against a Papua New Guinea High Court ruling approving the dumping, Australia's Highlands Pacific on Friday said it is confident it could power on its already built mine next year after the intervention of a provincial governor. The wrangling over the $1.5 billion Ramu nickel and cobalt mine that over its life will dump 100 million tonnes of waste 400m offshore comes as the new PNG's government moves to quell concerns about proposed changes to mining rights that would potentially force projects worth billions of dollars into renegotiation.
As expected the proposal by Norilsk Nickel management to buy back some of the stake in it controlled by Oleg Deripaska’s RusAl has been rebuffed. 29.08, 12:39 The world’s largest aluminium producer, Rusal, has posted a 1H 2011 net profit of $1.085
MOSCOW -(Dow Jones)- Russian Polar miner OAO Norilsk Nickel (GMKN.RS) Wednesday said it may sell all or part of its treasury shares, representing in total a 9.23% stake in the company. Analysts said the shares may be sold to finance the buyback Norilsk
CLANCY YEATES BHP BILLITON has predicted Australia's resources industry will need an extra 170,000 workers in the next five years, underlining the job bonanza set to hit mining states. Forecasts from the mining giant say the resources boom will create
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - CaNickel Mining Ltd. ("CaNickel" or the "Company") (TSX:CML) is pleased to announce that it has entered into an equity financing agreement with Haverstock Master Fund, Ltd. ("Haverstock"), a fund managed by Haverstock Manager, LLC., to secure access to funds on an as-needed basis for up to $20 million through a Committed Equity Facility ("CEF"). The issue and sale of common shares of the Company (the "Common Shares") under the facility is subject to regulatory approval.
SAN FRANCISCO (MarketWatch) -- Canadian stocks climbed 2.4% in midday trading on Tuesday, led by strength in metals and mining shares as world markets gained on optimism for more decisive action in the euro-zone debt crisis. The benchmark S&P/TSX
Canadian miner First Nickel Inc said it restarted production at its Lockerby nickel-copper mine in Ontario and made its first ore delivery to diversified miner Xstrata Plc's nickel business.
Prophecy Platinum (CVE:NKL) was up 5.69% on Monday trading after announcing drill results at its Wellgreen project, located in Yukon. Prophecy stated that borehole WS11-188 encountered 457 meters of mineralization grading 0.47% NiEq (including 0.72 […]
Workers in Australia and Norway are getting pay raises, and they are getting paid for staying on the job, not greater productivity.
The Ottawa Citizen reports that the Ontario NDP, which is fighting a provincial election and challenging the incumbent Liberal Party, want to change the provincial mining act so more mine processing work stays in the province. The Liberal Party says such legislation would ultimately hurt the industry.
Prophecy drills 120.9 meters grading 1.26 g/t PGM+Au, 0.36% Ni, 0.30% Cu within 457 meters grading 0.47% NiEq at Yukon Wellgreen project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) announces the drill results received from its 2011 drilling Wellgreen PGE-Ni-Cu Project. Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% NiEq (including 0.72 g/t Pt+Pd+Au) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high grade section of 17.8 meters of 3.14 g/t Pt+Pd+Au, 1.03% Ni, 0.74% Cu (1.77% NiEq). VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) announces the drill results received from its 2011 drilling Wellgree...
Bloomberg reports the London Metal Exchange which handles some 80% of global trade in industrial metals futures, told members it may get a takeover offer after multiple approaches from potential bidders. The 134-year-old exchange is owned by the trading houses and banks like Barclays and JP Morgan that trade on the market which keeps fees low. Despite talk of an $1.2 billion offer as far back as 2008, it is unclear how receptive they would be to selling out after a senior executive of the exchange told Reuters in March it had no plans to change its independent status despite increasing competition, particularly in Asia.
Sept. 23 (Bloomberg) -- Copper dropped to the lowest in more than a year while nickel and tin plunged as the deepening European debt crisis and threat of a U.S. recession spurred investor concerns that demand for raw materials will slow. Copper for
A Norwegian mining company aiming to develop one of the world's largest nickel mines is taking extra measures to convince local populations the mine "is not what people perceive it to be," says a report in mb.com.ph.
Demand growth for base metals in China is exceeding its GDP growth rate by 10 percent, and will keep growing, Fan Shunke, the president of China Non-ferrous Techno-Economic Research Institute said on Wednesday.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2011) - Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") is pleased to announce assay results from diamond drilling conducted on its W4 Langmuir Nickel Deposit earlier this year. The Langmuir property is located 35 km south of the city of Timmins, Ontario. The company drilled 13 diamond drill holes totaling 2,282 meters. Six HQ sized holes were drilled for the purposes of metallurgical testing on the A zone and seven NQ sized holes were drilled to test for extensions on the east side of the W4 deposit. Drilling intersected significant mineralization in both the metallurgical and exploration drill holes (see complete results tabulated below).
China's position as the world's economic engine is being reinforced as expectations for growth in developed markets wane, but so is the risk a decline in its appetite for metals and minerals may mean the Asian giant won't offset any Western slowdown.
Victory Nickel Inc. (the "Company") CA:NI 0.00% ( www.victorynickel.ca ) today announced that its Board of Directors has approved the development of the 100%-owned Minago sulphide nickel mine located on the Thomson Nickel Belt in central Manitoba.
IMX Resources Limited (ASX:IXR) is pleased to announce that initial metallurgical testwork has confirmed that high grade nickel concentrates with high recoveries can be produced from the multiple Ntaka Hill ore zones at the Nachingwea Ni-Cu joint venture in Tanzania. The Project is a joint venture between IMX Resources Limited (25%) and Continental Nickel Limited (75%).
Preliminary estimates from Metals Economics Group’s (MEG) Corporate Exploration Strategies (CES) study indicate that 2011 nonferrous exploration budgets will exceed $17 billion for expenditures related to precious and base metals, diamonds, uranium, and some industrial minerals.
Canadian Arrow Mines could soon be mining nickel again at its Kelex and Alexo mines near Timmins, Ontario. The Toronto-listed company (TSX-V:CRO) has received regulatory approvals to resume production with a small-tonnage, open-pit operation at the Kelex Central West pit, which was exposed, but only superficially mined, before suspension of production in 2005 due to nickel prices falling below US$5/lb.
The Australian quotes a Rio Tinto spokesman on Wednesday saying the discovery of a species of freshwater crab and a never before recorded shrimp near its Weipa mine would not be threatened by a planned bauxite expansion, but environmental protesters could still scupper the $900 million project. Rio Tinto, the world's number two miner, found a total of six species of crustacean including the new crab, which is about the size of a quarter, as part of its environmental impact study. It is now up to Australia state and federal governments to assess the findings.