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Blue Note Caribou Mines Inc., a wholly owned subsidiary of Montreal-based Blue Note Mining Inc., said it will undergo a voluntary restructuring in January, under which it will look to lower costs by seeking out a strategic partner.
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Alcoa Inc. and Norway-based Orkla ASA have agreed to exchange their stakes in a Norwegian smelting partnership and a Swedish extrusion joint venture in order to focus on their respective areas of expertise.
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The world copper production surplus totaled 120,000 tonnes in the first nine months of this year, a 67-percent jump from the same period last year, according to preliminary data from the International Copper Study Group (ICSG), Lisbon.
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Moody’s Investors Service has placed Alcoa Inc.’s Baa1 senior unsecured ratings and its Prime 2 short-term ratings under review for possible downgrade.
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A dearth of activity on the ferrochrome spot market and the continued availability of lower-quality material from India have dragged U.S. prices to below $1 a pound, and traders still see no end in sight.
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Alcoa Inc. and Norway-based Orkla ASA have agreed to exchange their stakes in a Norwegian smelting partnership and a Swedish extrusion joint venture in order to focus on their respective areas of expertise.
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Moody’s Investors Service has placed Alcoa Inc.’s Baa1 senior unsecured ratings and its Prime 2 short-term ratings under review for possible downgrade. About $7.2 billion in rated debt securities is affected.
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The world copper production surplus totaled 120,000 tonnes in the first nine months of this year, a 67-percent jump from the same period last year, according to preliminary data from the International Copper Study Group (ICSG), Lisbon.
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The London Metal Exchange has listed seven new warehouses, underlining the exchange’s popularity amid falling prices.
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Kemet Corp., an electrical parts manufacturer and tantalum processor, said it will eliminate about 1,500 manufacturing jobs representing about 14 percent of its work force. The layoffs will begin immediately and be completed by mid-January.
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Empresa Nacional de Mineria has ceded the rights to option up to a 49-percent stake in London-based Anglo American Plc’s Los Bronces copper mine in Chile to Corporacion Nacional del Cobre de Chile (Codelco).
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United Co. Rusal workers were kidnapped at the weekend at the Russian aluminum producer’s Nigerian smelter.
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Norddeutsche Affinerie AG may be planning another large-scale acquisition, according to local reports. “We are excellently positioned financially for the (2008-09) business year. We would only have to take out new credit for a large acquisition,” chief executive officer Bernd Drouven told a German newspaper.
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Alcoa Inc. has finalized a power supply agreement for its three Quebec aluminum smelters through 2040. The Baie Comeau, Becancour and Deschambault smelters produce about 1.1 million tonnes per year, more than 25 percent of Alcoa’s total output.
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Three-month lead fell to a 40-month low Monday on the London Metal Exchange due to weakening global demand, but insiders aren’t worried.
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Production cuts are finally beginning to be felt, with world aluminum output dropping 4.8 percent to 2.082 million tonnes in November from 2.187 million tonnes the previous month but unchanged from November last year, according to data released by the International Aluminium Institute (IAI), London.
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Three-month lead fell to a 40-month low Monday on the London Metal Exchange due to weakening global demand, but insiders aren’t worried.
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Production cuts are finally beginning to be felt, with world aluminum output dropping 4.8 percent to 2.082 million tonnes in November from 2.187 million tonnes the previous month but unchanged from November last year, according to data released by the International Aluminium Institute (IAI), London.
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Patrick Scott, chief operating officer, executive vice president and board member of Toronto-based lead miner Ivernia Inc. has resigned effective immediately following the closure of the company’s office in Sydney, Australia, Ivernia said on Monday.
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GDF Suez Energy Andino has received the necessary financing to construct a thermoelectric plant in northern Chile that will supply power to Corporacion Nacional del Cobre de Chile’s newly inaugurated Gaby copper mine.
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Norddeutsche Affinerie AG may be planning another large-scale acquisition, according to local reports. “We are excellently positioned financially for the (2008-09) business year.
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Empresa Nacional de Mineria has ceded the rights to option up to a 49-percent stake in London-based Anglo American Plc’s Los Bronces copper mine in Chile to Corporacion Nacional del Cobre de Chile (Codelco).
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Alcoa Inc. has finalized a power supply agreement for its three Quebec aluminum smelters through 2040. The Baie Comeau, Becancour and Deschambault smelters produce about 1.1 million tonnes per year, more than 25 percent of Alcoa’s total output.
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Alcoa Inc. has been awarded the wheel program for the Chevrolet Volt extended-range electric vehicle.