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Woulfe Mining Corp. is aiming to reduce costs after a companywide review revealed liquidity issues and the ability of the company and its subsidiaries to meet various payables beyond the next few months.
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Bankrupt aluminum producer Ormet Corp. says it could be forced to liquidate if its sale to an entity owned by private investment firm Wayzata (Minn.) Investment Partners LLC is not approved.
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Former Xstrata Plc chief executive officer Mick Davis has hired Goldman Sachs Group Inc. as part of a plan to raise a major mining fund—potentially worth billions of dollars—and could make a play for the Las Bambas copper project in Peru, AMM sister publication Metal Bulletin understands.
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Brazilian ferroalloys producer Cia. de Ferro Ligas da Bahia (Ferbasa) saw first-quarter earnings fall year on year on reduced exports and increased costs.
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Operations at Copper Mountain Mining Corp.’s semi-autogenous grinding mill at its Copper Mountain Mine in British Columbia have been temporarily suspended.
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Midwest aluminum premiums rose slightly this past week after discounts subsided in the wake of lower metals prices on the London Metal Exchange.
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Slowing demand and lower scrap prices could bring secondary aluminum alloy prices down in the coming weeks, according to market sources.
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LCH.Clearnet has increased the registration fee for London Metal Exchange trades to 15 pence per lot (23 cents) from 5 pence (8 cents), it announced May 15.
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The U.S. Commerce Department’s International Trade Administration (ITA) has determined that Shanghai Jinneng International Trade Co. Ltd., the sole company under review in an anti-dumping duty administrative review of silicon metal imports from China from June 1, 2011, to May 31, 2012, didn’t have any reviewable transactions. The China-wide cash deposit rate is 139.49 percent.
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Tony Hayward, former chief executive officer of oil company BP Plc, has stepped in as interim chairman of Glencore Xstrata Plc following the departure of Sir John Bond.
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Service center sources are divided over whether recent data that showed declines in U.S. aluminum shipments and inventories last month indicate tough times ahead.
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Alcoa Inc. plans to permanently close two older potlines at its Baie-Comeau smelter in Quebec and postpone the construction of a new potline by three years as the company looks to cut costs.
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Noranda Income Fund reported a boost in zinc production in the first quarter, but output rates may be reduced going forward as the closure of Xstrata Zinc Canada’s Brunswick Mine forces Noranda’s refinery to process feed mix with a higher impurity content, the company said.
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Globe Metallurgical Inc. faces $106,000 in penalties after the October death of a worker at its silicon metal plant in Selma, Ala.
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Baja Mining Corp. remained in the red in the first quarter as its in-development copper-cobalt-zinc-manganese project in Baja California Sur, Mexico, continued to face financing issues.
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Mining operations were suspended for a second day at PT Freeport Indonesia’s Grasberg copper and gold mine as the company confirmed the death of five workers in a tunnel collapse the day before.
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First Nickel Inc. produced an estimated 2.7 million pounds of payable nickel from its flagship Lockerby Mine in Ontario during the first quarter, up sharply from 1.2 million pounds in the same period last year and surpassing its goal of about 2.5 million pounds.
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Alcoa Inc. has appointed Robert Wilt as president of global primary products effective June 1, the company said May 16.
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General Moly Inc. and Sichuan Hanlong (Group) Co. Ltd. have agreed to terminate a $125-million loan deal that was intended to supplement a $665-million term loan to finance the Mount Hope molybdenum project in Nevada.
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Glencore Xstrata Plc has started zinc and copper production at the Bracemac-McLeod Mine in Quebec, in which it holds a 65-percent stake.
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Kobe Aluminum Automotive Products LLC (KAAP) has broken ground on a $66-million expansion at its Bowling Green, Ky., facility as the company looks to boost its offerings to the automotive sector.
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U.S. service centers saw both aluminum shipments and inventories decline in April from the same month a year ago, while Canadian distributors watched both rise in the same comparison, Metals Service Center Institute (MSCI) data show.
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Pension Benefit Guaranty Corp. (PBGC) has objected to the sale of bankrupt aluminum producer Ormet Corp. to an entity owned by private investment firm Wayzata (Minn.) Investment Partners LLC.
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Aluminum prices on the London Metal Exchange might not improve for a year or more, but that won’t change Novelis Inc.’s plans for growth, president and chief executive officer Philip Martens said.