Nonferrous

• What's wrong with this picture? Nothing private capital won't help Nov 04, 2005

  The Venezuelan state will support the construction of a 1.5-million-tonne-per-year long and flat-rolled products mill and a 275,000-tonne seamless tube plant to further its strategy of reducing steel imports, a government official said last week.

• Sidor, Chavez and a political tug of war over the price of iron ore Nov 04, 2005

  Venezuelan steelmaker Siderurgica del Orinoco CA (Sidor) has agreed to essentially double what it pays for iron ore from state-owned producer CVG Ferrominera Orinoco CA (FMO), ending a clash that included threats by Venezuelan President Hugo Chavez to re-nationalize Sidor should it refuse to pay international prices.

• Solikamsk taps free market to cut energy costs Nov 03, 2005

  Russia's Solikamsk Magnesium Works has entered the energy free market in a bid to reduce its production costs.

• Hydro says German smelter will run with or without pact Nov 03, 2005

  Norsk Hydro ASA will keep its Neuss aluminum smelter in Germany running by any means necessary when its power contract expires at the end of this year.

• Deal on Sucden acquisition said imminent Nov 02, 2005

  London Metal Exchange ring dealer Sucden (UK) Ltd. is again the subject of speculation that it will be bought out following an announcement by investment company Commoditrade Inc. that it is close to sealing a deal with a commodity trading company.

• Copper capacity to increase 22% by '09 ICSG Nov 02, 2005

  Global copper mine capacity is expected to grow to 19.3 million tonnes in 2009, up 3.5 million tonnes, of 22 percent, from 2004, according to the latest Directory of Copper Mines and Plants issued by the International Copper Study Group (ICSG).

• Indian output of lead, zinc decline; consumption expected to increase Nov 02, 2005

  Primary lead production in India totaled 15,880 tonnes in the fiscal year ended Sept. 30, down 35.8 percent from 24,737 tonnes the previous year, the country's Ministry of Mines and Minerals said Wednesday.

• Lower metal prices, higher costs hit Sherritt's quarterly net income Nov 02, 2005

  Sherritt International Corp., Toronto, blamed weaker nickel and cobalt prices, higher administrative costs and higher operating costs for a 34.4-percent decline in net income to Canadian $23.1 million ($19.6 million) during the third quarter.

• Congo clears Tenke copper-cobalt project Nov 02, 2005

  The government of the Democratic Republic of Congo (DRC) has approved the development of the Tenke Fungurume copper-cobalt project in Katanga province.

• Aleris tacking on 2¢/lb. for energy Nov 02, 2005

  An energy surcharge of 2 cents per pound on coiled products has been imposed by Aleris International Inc., effective with all orders placed Nov. 2 or later with scheduled delivery in January or beyond.

• Outokumpu adding natural gas fee Nov 02, 2005

  Three U.S. units of Outokumpu Copper Products-Outokumpu American Brass Co., Outokumpu Copper Nippert Inc. and Outokumpu Copper Valleycast LLC-plan to introduce a natural gas surcharge on all shipments effective Dec. 1.

• Higher copper, zinc prices boost Inmet's earnings in third quarter Nov 02, 2005

  Benefiting from higher metal prices, Inmet Mining Corp., Toronto, posted a 58.7-percent jump in third-quarter net income to Canadian $36.8 million ($31.2 million) on a 33.2-percent increase in sales to C$178.2 million ($151.1 million) compared with the same period last year.

• Fallout from Barrick's $9.2B bid for Placer Dome begins Nov 01, 2005

  Barrick Gold Corp.'s unsolicited $9.2-billion Halloween bid for fellow gold miner Placer Dome Inc. has generated reverberations and speculation throughout the global mining industry.

• Commerce sets dumping margin on chromium imports from Japan Nov 01, 2005

  The U.S. Commerce Department has ruled that imports of degassed chromium from Japan are being dumped in the U.S. market.

• Olin mulls closure of Waterbury Rolling Mills Nov 01, 2005

  Olin Brass, East Alton, Ill., a division of Olin Corp., is considering the closure of its Waterbury Rolling Mills operation in Waterbury, Conn., after experiencing a downturn in demand for its phosphor-bronze alloy products.

• Refco denies funds' assets wrongfully seized Nov 01, 2005

  Embattled New York-based futures brokerage Refco Inc. has denied claims by two commodities funds backed by investor Jim Rogers that it "wrongfully and fraudulently" handled $362 million in assets.

• Three-party deal reached on Guinea bauxite Nov 01, 2005

  The controversy over the rights of Global Alumina Ltd., New York, to receive bauxite concessions in the Republic of Guinea has been resolved with a three-way agreement between the government, Global Alumina and mining group Compagnie des Bauxites de Guinée SA (CBG).

• Alcan hikes Nov. ingot, billet 5¢/lb. Nov 01, 2005

  Alcan Aluminum Corp., Cleveland, a subsidiary of Montreal-based Alcan Inc., said Tuesday is had increased its published aluminum prices by 5 cents a pound from October.

• Southwire to make management changes after exec's retirement Nov 01, 2005

  Eddie Adams, president of Southwire Co.'s Energy division, will retire in April.

• Alcoa ups common alloy coil, sheet Nov 01, 2005

  Alcoa Inc. has raised its prices for certain common alloy non-heat-treat coil and flat sheet products.

• Alcan's Ravenswood mill to apply energy surcharge beginning Jan. 1 Oct 31, 2005

  Alcan Rolled Products has announced that it will impose a natural gas surcharge on all shipments effective Jan. 1.

• Hayes Dockside refusing delivery of copper to New Orleans depots Oct 31, 2005

  Comex-registered warehouses in New Orleans operated by Hayes Dockside Inc. are closed to deliveries of copper cathode as a result of damage caused by Hurricane Katrina in late August, the New York Mercantile Exchange said Monday.

• Olin Brass introducing energy fee Oct 31, 2005

  Olin Brass, East Alton, Ill., plans to introduce an energy surcharge effective with shipments Dec. 1.

• Rastogi, others charged with fraud Oct 31, 2005

  Viren Rastogi, former chief executive officer of RBG Resources Plc, London, has been charged with conspiracy to defraud along with two other senior staff at the defunct London metal trading company.