Nonferrous

• DNSC nets $5.2M on cobalt sales Dec 08, 2006

  The U.S. Defense National Stockpile Center (DNSC) said Friday it currently has 2,709,598 pounds of cobalt in its above-ground warehouses in New Haven, Ind., and Warren, Ohio, of which 1,662,650 pounds is La Generale des Carriers et des Mines (Gecamines) cathode and 99,929 is Inco Ltd. cathode.

• Wellspring completes $310M JW acquisition Dec 08, 2006

  Wellspring Capital Management LLC, New York, has completed its $310-million acquisition of JW Aluminum Co., Mount Holly, S.C., from Superior Plus Inc., which had purchased JW from Wellspring for $350 million in September 2005.

• Teck invests $31.1M in ocean mining company Dec 08, 2006

  Teck Cominco Ltd., Vancouver, British Columbia, has invested $31.1 million in Nautilus Minerals Inc., a Vancouver-based company that explores the ocean floor for zinc, gold, copper and silver sulfide deposits.

• LionOre hopeful of partnership with Norilsk Dec 08, 2006

  LionOre Mining International Ltd. is looking forward to a partnership with MMC Norilsk Nickel to help minimize operating costs at its Black Swan nickel project in Australia, the company said.

• Trading thin for Nymex mini contracts Dec 08, 2006

  The New York Mercantile Exchange’s new Comex miNY metals futures and London look-a-like contracts have got off to a slow start in their first week of trading as the market greets them with caution.

• Wellspring completes acquisition of JW Aluminum Dec 08, 2006

  Wellspring Capital Management LLC, New York, has completed its $310-million purchase of JW Aluminum Co., Mount Holly, S.C., from Superior Plus Inc., which bought JW from Wellspring for $350 million in September 2005.

• Nickel market won’t be balanced for another 5 years Sherritt exec Dec 07, 2006

  The world nickel supply won’t be balanced with demand for another five years due to reported production delays at new nickel projects, according to Jowdat Waheed, president and chief executive officer of Toronto-based Sherritt International Corp.

• Consortium set to buy Meridian for $175 million Dec 07, 2006

  A consortium of investors will acquire magnesium diecaster Meridian Technologies Inc., Strathroy, Ontario, for Canadian $200 million ($174.9 million).

• Indium spot prices remain flat, contract business still healthy Dec 07, 2006

  Indium spot prices have stalled in a range of $720 to $760 per kilogram amid scant volume, but contract demand is strong.

• Antofagasta building desalination plant for Chile’s Esperanza Dec 07, 2006

  Antofagasta Minerals SA will build a desalination plant to provide water for the production process at its Esperanza copper-gold project in Chile.

• Consortium set to buy Meridian for $175 million Dec 07, 2006

  A consortium of investors will acquire magnesium diecaster Meridian Technologies Inc., Strathroy, Ontario, for Canadian $200 million ($174.9 million).

• Teck’s Turkish unit to take up 60% interest in gold projects Dec 07, 2006

  Teck Cominco Ltd.’s Turkish subsidiary, Teck Cominco Arama ve Madencilik Sanayi Ticaret AS (TCAM), will take up a 60-percent interest in at least four of Fronteer Development Group Inc.’s gold projects in northwestern Turkey, the company said Thursday.

• Aluminum premiums slip, but pickup seen next year Dec 07, 2006

  U.S. Midwest aluminum premiums continue to drift lower in a slow market, but contract premiums for 2007 show early strength.

• Barrick fails in bid for NovaGold [UPDATE] Dec 07, 2006

  Barrick Gold Corp., Toronto, has concluded its $16-per-share, $1.7-billion offer for NovaGold Resources Inc., Vancouver, British Columbia, after acquiring only 13.6 million shares, or 14.8 percent of NovaGold.

• Aluminum premiums soften; pickup expected for 2007 Dec 07, 2006

  Aluminum premiums in the U.S. Midwest continue to drift lower in exceptionally slow trading while contract premiums for 2007 show early strength.

• Barrick fails in bid for NovaGold [UPDATE] Dec 07, 2006

  Barrick Gold Corp., Toronto, has concluded its $16-per-share, $1.7-billion offer for NovaGold Resources Inc., Vancouver, British Columbia, after acquiring only 13.6 million shares, or 14.8 percent of NovaGold.

• Teck invests $31.1M in sea exploration company Dec 07, 2006

  Teck Cominco Ltd., Vancouver, British Columbia, has invested $31.1 million in Nautilus Minerals Inc., a Vancouver-based company that explores the ocean floor for zinc, gold, copper and silver sulfide deposits.

• LionOre looks forward to partnership with Norilsk Dec 07, 2006

  LionOre Mining International Ltd. is looking forward to a partnership with MMC Norilsk Nickel to help minimize operating costs at its Black Swan nickel project in Australia, the company said Thursday.

• Barrick fails in bid for NovaGold Dec 07, 2006

  Barrick Gold Corp., Toronto, has concluded its $16-per-share, $1.7-billion offer for NovaGold Resources Inc., Vancouver, British Columbia, after acquiring only 13.6 million shares, or 14.8 percent of NovaGold.

• LionOre to produce 30% more nickel in 2007, exec says Dec 07, 2006

  LionOre Mining International Ltd., Toronto, expects to produce 30 percent more nickel in 2007 than this year as the company begins to see the production benefits of its completed brownfield expansion projects, Colin Steyn, president and chief executive officer of the company, said.

• Codelco Norte kicks off labor talks with offer of 2% pay hike Dec 06, 2006

  Chilean state copper company Corporacion Nacional del Cobre de Chile (Codelco) has offered workers a 2-percent pay increase as it seeks to negotiate a 40-month contract at its Codelco Norte division.

• Workers at Marietta reject Eramet contract proposal Dec 06, 2006

  Workers at Eramet SA’s Marietta, Ohio, plant have rejected a proposed labor contract in a vote held Wednesday.

• Brazilian, Canadian unions meet in Sudbury [UPDATE] Dec 06, 2006

  Union leaders from Brazil’s Cia. Vale do Rio Doce (CVRD) are spending the week in Sudbury, Ontario, with their Canadian counterparts to open the lines of communication and forge a strong global relationship.

• Indium spot prices flat; contract business healthy Dec 06, 2006

  Indium spot prices remained stalled between $720 and $760 per kilogram amid scant spot volume as contract demand stayed strong.