Nonferrous

• Zambia will not reinstate copper windfall tax Dec 01, 2011

  The reintroduction of Zambia’s windfall tax on copper mining companies would be unwise, the country’s finance minister said on Wednesday November 30.

• Rio Tinto wins $654 million bid to buy Hathor Exploration Dec 01, 2011

  Rio Tinto has won its $654 million bid to buy Canadian junior uranium company Hathor Exploration and will now look to completing the transaction by December 5, the company said on Thursday

• Rusal increases alloys casting capacity at VAS smelter by 33% Dec 01, 2011

  United Co Rusal has increased aluminium alloys casting capacity at its Volkhov smelter (VAS) to 32,000 tpy from 24,000 tpy after a redesign, the company said on Thursday

• Base metals prices consolidate at lower levels in LME pre-market Dec 01, 2011

  Base metals, with the exception of aluminium, weakened in pre-market trading on the London Metal Exchange on Thursday, with copper losing almost $100 across the morning

• Shanghai copper jumps 5.4% on action from global banks Dec 01, 2011

  Shanghai Futures Exchange copper surged 5.4% on Thursday, as global central banks joined forces for monetary easing measures.

• China's silico-manganese output will drop further as power rates rise Dec 01, 2011

  China's silico-manganese producers will close more smelters in the near future as an increase in power prices threatens to put further pressure on their already-minimal profit margins

• China's net imports to remain low as aluminium capacity grows Dec 01, 2011

  China’s net imports of primary aluminium will stay at a low level in 2012 as the country’s firm domestic demand is largely met by huge supply expansion coming on stream, according to Beijing Antaike Information Development Co.

• Gallium prices fall further in illiquid Chinese market Dec 01, 2011

  Domestic gallium prices in China fell further on thin trade on Wednesday, continuing a run of declines seen since the summer.

• LME ASIAN WRAP: China PMI trims copper price rally Dec 01, 2011

  Copper prices on the London Metal Exchange retreated on Thursday after weak Chinese manufacturing data from China snuffed out a rally sparked by international action to stem a dangerous credit crunch in Europe

• US-Korea trade pact gives US manufacturers more access Nov 30, 2011

  After nearly five years of negotiations, the United States and South Korea have signed a trade pact, considered one of the most significant trade agreements since the passage of the North American Free Trade Agreement in 1994.

• Nickel output cuts not imminent: analysts Nov 30, 2011

  Nickel prices have further to fall before large integrated producers start cutting back production, even as the metal trades at its lowest level since July 2009, market participants told AMM.

• Kruger claims fired over buyback stance Nov 30, 2011

  Logan Kruger, former president and chief executive officer of Century Aluminum Co., claims that he was forced out by the board of directors after he questioned the legality of majority shareholder Glencore International Plc’s August stock repurchase program, according to a lawsuit filed in California.

• Revett targets commercial production in 2018 Nov 30, 2011

  Revett Minerals Inc. expects to begin commercial production of concentrates at its Rock Creek silver-copper project in late 2018, the company said in a statement Wednesday.

• China cuts may bring manganese shortage Nov 30, 2011

  The recent rare earths supply crimp could be matched by a shortage of manganese metal in coming years if more production is not developed outside of China, according to research firm JF Zhang Associates Inc.

• NORILSK NICKEL PROFILE: Dispute with Rusal sours Norilsk for investors Nov 30, 2011

  Selling Norilsk Nickel equity to investors has become increasingly difficult because of its conflict with 25% stakeholder UC Rusal, analysts said on Tuesday November 29.

• Base metal prices catapulted higher as central banks cut through gloom in Europe Nov 30, 2011

  Base metal prices surged higher in trading on the London Metal Exchange on Wednesday as bullish announcements from central banks in China and the west created a buying bonanza across all futures markets.

• COMMENT: Indonesia’s tin syndicate recognises the painful truth Nov 30, 2011

  It took a consortium of smelters on Bangka island, which produces nearly all of Indonesia’s tin, just under two months to recognise an elementary truth: a pricing syndicate is difficult to sustain

• Skorpion zinc refinery to focus on concentrates to extend operations beyond 2015 Nov 30, 2011

  The zinc refinery at the Skorpion mine in Namibia could be used to process third-party concentrates to extend the life of the Vedanta-owned operation beyond 2015.

• Metal trading company Ferromet receives second restructuring extension Nov 30, 2011

  Ferromet has been granted a second extension to the deadline to complete its restructuring, a spokesman for the company confirmed on Wednesday.

• MEIR ON METALS: Markets soar on central bank liquidity injections Nov 30, 2011

  Analst Ed Meir looks at what is moving the metals markets on Wednesday.

• Talvivaara receives EC approval for uranium sales Nov 30, 2011

  Finnish nickel and zinc producer Talvivaara has received approval from the Euratom Supply Agency for the sale of uranium to Cameco under an offtake agreement.

• Molybdenum prices fall amid low offers, weak demand Nov 30, 2011

  Molybdenum prices slid on Wednesday amid weaker consumer demand and as traders took profits.

• Glencore terminates Mina Justa acquisition Nov 30, 2011

  Glencore has terminated its agreement with CST Mining to buy 70% of the Mina Justa copper project in Peru for $475 million, the company said on Wednesday

• METAL THEFT: National taskforce will be set up to tackle metal theft Nov 30, 2011

  A national taskforce, led by the British Transport Police, will be set up in the UK to target both metal thieves and scrap metal dealers who trade in stolen goods and fuel demand, the Home Office said on November 29.