Nonferrous RSS

  • Glencore strengthens grip on European zinc Dec 12, 2008

    Glencore International AG is set to increase its position in the European zinc market next year after it signed a five-year offtake agreement with Nyrstar SA/NV that will give it control of about half of the continent’s supply of the metal, market sources said.

  • HudBay rejects Jaguar request for meeting Dec 12, 2008

    HudBay Minerals Inc. will not convene a shareholders’ meeting requested by rebellious minority stakeholder Jaguar Financial Corp., drawing an angry response from the Canadian merchant bank.

  • In a ‘prudent’ move, DNSC shifts sales to prepaid basis Dec 12, 2008

    The Defense National Stockpile Center (DNSC) has temporarily suspended payment terms on all active solicitations, saying it will only award contracts on a prepaid basis.

  • Canadian junior miners hit by lawsuits Dec 12, 2008

    Crystallex International Corp. has been slapped with two separate lawsuits over its stalled Las Cristinas gold project in Venezuela, heightening industry concerns that junior miners might be at increased risk of legal action from shareholders angered by the collapse in equity values this year.

  • Auto bailout uncertainty sends copper on wild ride Dec 12, 2008

    Copper ended Friday on a rollercoaster ride, as news of Senate’s rejection of the auto recovery plan sent prices plunging nearly 10 percent before rebounding on word that a slice of the $700-billion Wall Street relief fund might be making its way to Detroit.

  • Rexam shutting Oklahoma City can plant, laying off 80 workers Dec 12, 2008

    Rexam Plc will make further reductions in its 12-ounce beverage can manufacturing to address overcapacity in the North American market.

  • HudBay rejects Jaguar request for meeting Dec 12, 2008

    HudBay Minerals Inc. has said it will not convene a shareholders’ meeting requested by rebellious minority stakeholder Jaguar Financial Corp., drawing an angry response from the Canadian merchant bank.

  • HudBay denies Jaguar request for meeting Dec 12, 2008

    HudBay Minerals Inc. has said it will not convene a shareholders’ meeting requested by rebellious minority stakeholder Jaguar Financial Corp., drawing an angry response from the Canadian merchant bank.

  • Rexam shutting Oklahoma City plant Dec 12, 2008

    Rexam Plc will make further reductions in its 12-ounce beverage can manufacturing to address overcapacity in the North American market.

  • Canadian junior miners hit by lawsuits Dec 12, 2008

    Crystallex International Corp. has been slapped with two separate lawsuits over its stalled Las Cristinas gold project in Venezuela, heightening industry concerns that junior miners might be at increased risk of legal action from shareholders angered by the collapse in equity values this year.

  • Titanium distributor, four execs face fraud charge Dec 12, 2008

    A major U.S. titanium distributor and four current and former executives have been charged with criminal fraud for allegedly selling substandard material used on military aircraft and spacecraft.

  • BHP, Anglo American seen following Rio’s lead on cost cutting [UPDATE] Dec 11, 2008

    BHP Billiton and Anglo American Plc are expected to follow Rio Tinto in coming weeks in setting swinging cost-cutting measures, including project delays and staff cuts, analysts said.

  • Escondida tipped for sale in Rio cuts Dec 11, 2008

    Rio Tinto’s 30-percent stake in Chile’s Escondida Mine could be one cash-heavy asset headed for the chopping block as the miner looks to slice some $10 billion from its net debt by the end of 2009, analysts said.

  • Progress may slow at Alcan smelters Dec 11, 2008

    Rio Tinto Alcan is proceeding with planned aluminum smelter expansions in Canada but has warned that progress could be slowed due to the massive capital spending cuts announced this week.

  • Escondida tipped for sale as Rio cuts back Dec 11, 2008

    Rio Tinto’s 30-percent stake in Chile’s Escondida mine could be one cash-heavy asset headed for the chopping block as the miner looks to slice some $10 billion from its net debt by the end of 2009, analysts said.

  • Titanium mart braces for price fall on Boeing woes Dec 11, 2008

    Boeing Co.’s anticipated confirmation that it once again has stretched out deliveries for the 787 Dreamliner has some titanium buyers bracing for possible further price erosion in the New Year.

  • Commerce sets lower duty for Chinese magnesium firm Dec 11, 2008

    The U.S. Commerce Department has set an anti-dumping duty of 0.63 percent on pure magnesium from Chinese exporter Tianjin Magnesium International Co. Ltd. (TMI).

  • FNX cuts production further, prepares for two-year slump Dec 11, 2008

    Canada’s FNX Mining Co. Inc. has stopped nickel ore production indefinitely at the McCreedy West Mine in Ontario’s Sudbury Basin and said it has no plans to resume commercial production at the Levack Mine.

  • Burlington Technologies lays off 130; financial woes mount Dec 11, 2008

    Burlington Technologies Inc., Oakville, Ontario, which owns aluminum auto parts maker Alumetco, has filed for protection under Canada’s Companies Creditors’ Arrangement Act (CCAA), resulting in the immediate layoff of about 130 employees, according to union officials.

  • FNX cuts output further, prepares for two-year slump Dec 10, 2008

    Canada’s FNX Mining Co. Inc. has no plans to resume commercial production at the Levack Mine and also announced it had stopped nickel ore production indefinitely at the McCreedy West Mine in the Sudbury Basin in Ontario.

  • Alcoa layoffs continue in Texas, Ind. Dec 10, 2008

    Alcoa Inc. is implementing another wave of layoffs as part of its ongoing cost-reduction efforts in the current environment of falling commodity prices and softer end-market demand.

  • Alcoa layoffs continue in Texas, Indiana Dec 10, 2008

    Alcoa Inc. is implementing another wave of layoffs as part of its ongoing cost-reduction efforts in the current environment of falling commodity prices and softer end-market demand.

  • Alcan in focus as Rio slashes debt, cuts jobs Dec 10, 2008

    Rio Tinto’s announcement that it plans to slash jobs and sell assets in an attempt to pay down its large debt levels has focused attention on the future of its Alcan unit, though analysts said it would be hard for Rio to bring itself to sell the Canadian aluminum producer—and perhaps even harder to find a buyer if it did.

  • Eramet to cut nickel, manganese output Dec 10, 2008

    France’s Eramet SA will make further output cuts in its nickel and manganese divisions in response to weak demand from steelmakers, it said, also forecasting full-year operating income will be in line with levels seen last year.

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