Nonferrous

• Apollo taking over Alcan assets in January Dec 10, 2010

  Apollo Global Management is set to take control of Rio Tinto Alcan’s engineered products division at the start of the new year, a union source told AMM.

• Bangka sees tin output fall 40% Dec 10, 2010

  Indonesian tin consortium Bangka Belitung Timah Sejahtera (BBTS) expects its tin output to fall by 40 percent this year to about 12,000 tonnes due to unusual weather conditions.

• Physically backed ETFs launched by ETF Securities Dec 10, 2010

  ETF Securities Ltd. launched Friday physically backed exchange-traded funds (ETFs) in copper, nickel and tin. The copper product opened at $45, nickel at $118 and tin at $129.

• China market casts doubt on copper tightness Dec 10, 2010

  The lack of pressure on the Shanghai copper spreads has cast doubt on the assumed level of supply tightness in the global market sparked by the backwardation and high prices on the London Metal Exchange.

• Noranda offering raises $106M Dec 10, 2010

  Noranda Aluminum Holding Corp. has raised $106.2 million in net proceeds from its secondary public offering of 10 million shares at $11.35 per share, the Franklin, Tenn.-based company said in a statement.

• Noranda offering raises $106M Dec 10, 2010

  Noranda Aluminum Holding Corp. has raised $106.2 million in net proceeds from its secondary public offering of 10 million shares at $11.35 per share, the Franklin, Tenn.-based company said in a statement.

• If titanium supply sputters, ATI may relaunch Ore. Sponge plant Dec 10, 2010

  Allegheny Technologies Inc. (ATI) expects its foreign supplies of standard titanium sponge to dry up after 2012, which could trigger a restart at its aerospace sponge plant in Albany, Ore.

• Apollo set to take over Alcan assets in January Dec 10, 2010

  Apollo Global Management is set to take control of Rio Tinto Alcan’s engineered products division at the start of the new year, a union source told AMM.

• Molycorp signs offtake deal with Sumitomo Dec 10, 2010

  Molycorp Inc. has signed a new rare earths offtake and financing agreement with Japan’s Sumitomo Corp. that will help fund construction at its domestic mine.

• Logan Aluminum settles EPA charges for $285,000 Dec 10, 2010

  Logan Aluminum Inc. has agreed to pay a $285,000 penalty to settle alleged violations of the Clean Air Act.

• Three workers killed in blast at AL Solutions’ W.Va. plant Dec 10, 2010

  Three workers died as a result of an explosion Thursday at AL Solutions Inc.’s West Virginia plant.

• Alcoa appoints Jarrault to spearhead EPS Dec 09, 2010

  Alcoa Inc. has named Olivier Jarrault president of the company’s Engineered Products and Solutions (EPS) division, effective Jan. 1.

• Duluth Metals names CFO Dec 09, 2010

  Canadian junior miner Duluth Metals Ltd. has appointed Marvin E. Dee to the position of chief financial officer.

• ETF interest rises again in November Dec 09, 2010

  Assets held in commodity exchange-traded funds (ETFs) and exchange-traded notes (ETNs) jumped to $97.89 billion in November, up 5 percent from October and 31 percent higher year on year, according to National Stock Exchange data.

• DCM boosts ferrochrome output, keeps focus on US Dec 09, 2010

  Austrian alloys producer DCM Decometal GmbH has started operating a third ferrochrome furnace at its smelter in Burrel, Albania, with commercial production due to begin in January.

• Copper top investment pick in Barclays Capital survey Dec 09, 2010

  Copper is the top investment pick for next year in a Barclays Capital Inc. survey of investors like hedge funds, institutions and retail distributors of structured products.

• Norilsk seeks $721.5 million for 51.3 percent stake in Stillwater Dec 09, 2010

  MMC Norilsk Nickel will look to garner $721.5 million from the sale of a 51.3-percent stake in Canadian platinum and palladium producer Stillwater Mining Co.

• BPA sweetens power deal for Columbia Falls operation after Baucus, Tester make appeal Dec 09, 2010

  The Bonneville Power Administration (BPA) has offered a more-favorable long-term power agreement to Columbia Falls Aluminum Co. LLC at the urging of Montana’s two U.S. senators.

• Rockefeller joins fight against Century’s retiree health-care benefit cuts Dec 09, 2010

  Union workers at Century Aluminum Co.’s idled Ravenswood, W.Va., smelter have garnered senatorial support in their fight to retain retiree health-care benefits slated for termination at the end of this month.

• November aluminum orders dip but trend remains positive Dec 09, 2010

  North American aluminum demand fell in November for the second straight month, according to Davenport & Co. LLC data based on seasonally adjusted figures from the Aluminum Association.

• AK Steel raises flat-rolled prices Dec 09, 2010

  AK Steel Corp. said Thursday it will attempt to increase current spot market base prices for all carbon flat-rolled steel products by $40 per ton.

• Korea Zinc invests in tungsten mine Dec 09, 2010

  Canadian junior mining company Woulfe Mining Corp. has signed a deal with Korea Zinc Co. Ltd. for a controlling stake in Woulfe’s Sangdong tungsten-molybdenum project in South Korea, Woulfe’s top executive told shareholders in New York.

• Xstrata’s Davis bullish with $23B capex plan Dec 09, 2010

  Xstrata Plc chief executive officer Mick Davis gave a bullish outlook for the mining sector as he announced plans to spend $23 billion on asset development through 2016.

• Duluth Metals names CFO Dec 09, 2010

  Canadian junior miner Duluth Metals Ltd. has appointed Marvin E. Dee to the position of chief financial officer.