Nonferrous RSS

  • Ormet’s Hannibal smelter in line for 15% power rate cut Nov 13, 2008

    Ormet Corp. is confident it will be able to secure a power rate reduction of at least 15 percent for its Hannibal, Ohio, smelter by the beginning of 2009, it said.

  • Xstrata to close two Canadian nickel mines Nov 13, 2008

    Xstrata Nickel will end operations ahead of schedule at its Craig and Thayer-Lindsley nickel mines in Sudbury, Ontario, and replace them with the new Nickel Rim South and Fraser Morgan mines.

  • Newmont stalls on Peru decision Nov 12, 2008

    Newmont Mining Corp. will delay a development decision on its Minas Conga copper-gold project in Peru until the first quarter of 2009 due to uncertainty surrounding the global economic condition, according to Reuters.

  • TVI Pacific inks 5-year pact with MRI Trading Nov 12, 2008

    TVI Pacific Inc. has signed a five-year offtake agreement with Swiss trading company MRI Trading AG for copper concentrate extracted from the company’s soon-to-be-producing Sulfide Project at the Canatuan Mine in the Philippines.

  • ABC Metals energy charge cut 2¢/lb. Nov 12, 2008

    Copper fabricator ABC Metals Inc. has cut its energy surcharge by 2 cents a pound to 1.5 cents a pound, effective immediately, due to falling fuel costs.

  • Antamina aims for 30% boost Nov 12, 2008

    Cía. Minera Antamina SA plans to produce 1.1 million tonnes of copper concentrate and 600,000 tonnes of zinc concentrate this year, and looks to increase processing capacity by 30 percent by 2011, a company spokesman said, confirming a report from Reuters.

  • Noranda dips $19.3M into red in 3d qtr. Nov 12, 2008

    Noranda Aluminum Holding Corp. swung to a net loss of $19.3 million in the third quarter in contrast to a $6.3-million profit in the same period last year, due largely to hedging losses, volatile aluminum pricing and a deceleration in aluminum demand.

  • Dahlman Rose sees moly deficit as soon as 2010 Nov 12, 2008

    Recent cuts in molybdenum production will return the market to a deficit as soon as 2010, according to investment bank Dahlman Rose & Co. LLC, in a change to the firm’s previous forecast of narrow surpluses from 2009 to 2011.

  • Dahlman Rose sees moly market deficit as soon as 2010 Nov 12, 2008

    Recent cuts in molybdenum production will return the market to a deficit as soon as 2010, according to investment bank Dahlman Rose & Co. LLC, in a change to the firm’s previous forecast of narrow surpluses from 2009 to 2011.

  • Noranda dips $19.3M into red in 3d qtr. Nov 12, 2008

    Noranda Aluminum Holding Corp. swung to a net loss of $19.3 million in the third quarter in contrast to a $6.3-million profit in the same period last year, due largely to hedging losses, volatile aluminum pricing and a deceleration in aluminum demand.

  • TVI Pacific inks 5-year offtake deal with MRI Trading Nov 12, 2008

    TVI Pacific Inc. has signed a five-year offtake agreement with Swiss trading company MRI Trading AG for copper concentrate extracted from the company’s soon-to-be-producing Sulfide Project at the Canatuan Mine in the Philippines.

  • ABC Metals energy charge cut 2¢/lb. as fuel costs drop Nov 12, 2008

    Copper fabricator ABC Metals Inc. has cut its energy surcharge by 2 cents a pound to 1.5 cents a pound, effective immediately, due to falling fuel costs.

  • Base metals to see unequal benefit from China stimulus Nov 11, 2008

    China’s planned $586-billion stimulus package is expected to boost the consumption and value of base metals across the board, but market participants say some metals are going to see more benefit than others as the fiscal injection takes effect.

  • ATI’s Allvac delays part of expansion Nov 11, 2008

    At least one part of an ambitious expansion in melting capacity for high-performance metals at Allegheny Technologies Inc. (ATI) has been pushed back, as installation of new cold-hearth titanium melting capacity at the Pittsburgh-based company’s Allvac unit has been delayed, market sources said.

  • Toledo suspends Berong nickel mine on low prices Nov 11, 2008

    Toledo Mining Corp. Plc has suspended its Berong nickel mine in the Philippines as nickel prices on the London Metal Exchange have fallen below its production cost of $17,000 to $18,000 per tonne, it said Tuesday.

  • Frontera to suspend mining at Piedras Verdes in Mexico Nov 11, 2008

    Frontera Copper Corp. will halt mining operations temporarily at its Piedras Verdes complex in Mexico until copper prices recover, resulting in about 100 layoffs.

  • Alcoa suspends proposed expansion at Australian alumina refinery Nov 11, 2008

    Alcoa Inc. has suspended work on its proposed expansion of the Wagerup alumina refinery in Perth, Western Australia, to 4.7 million tonnes per year from 2.6 million tonnes.

  • Anglo American gets BNDES loan for nickel mine in Brazil Nov 11, 2008

    Anglo American Plc will receive a loan of 1.42 billion Brazilian reais ($637 million) from Banco Nacional de Desenvolvimento Econômico e Social (BNDES), Brazil’s national development bank, to expand output at its Barro Alto nickel mine in the central state of Goiás.

  • RTI sees titanium sponge costs falling up to 9% next year Nov 11, 2008

    Titanium sponge costs for RTI International Metals Inc. will decline next year, although they won’t drop at the same rate that either scrap or RTI’s own mill products have been falling.

  • National Copper shuts; 170 lose jobs Nov 11, 2008

    National Copper Products Inc., a Dowagiac, Mich.-based copper tubing company, shut its doors this week, leaving some 170 employees out of work and adding one more name to the growing list of small fabricators unable to weather the current economic storm.

  • Copper, brass centers’ shipments fall again Nov 11, 2008

    Service center shipments of copper and copper alloy products totaled nearly 29.4 million pounds in September, down 4.2 percent from the same month last year, according to the Copper and Brass Servicenter Association (CBSA), marking another month of decreased demand in an increasingly volatile market.

  • Anglo American gets BNDES loan for nickel mine in Brazil Nov 11, 2008

    Anglo American Plc will receive a loan of 1.42 billion Brazilian reais ($637 million) from Banco Nacional de Desenvolvimento Econômico e Social (BNDES), Brazil’s national development bank, to expand output at its Barro Alto nickel mine in the central state of Goiás.

  • Chinese government aid seen likely for aluminum Nov 11, 2008

    A fall in Chinese aluminum exports in October may be only temporary if the government reacts to a market slowdown by easing export restrictions, analysts said.

  • Alumetco continues lockout of CAW workers, exec says Nov 11, 2008

    Aluminum auto parts supplier Alumetco continued its lockout of Canadian Auto Workers (CAW) union members Tuesday, with no date set for resumed negotiations, according to a company executive.

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