Nonferrous

  • Blue Note Caribou seeking partner Dec 23, 2008

    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.

  • Alcoa and Norway’s Orkla swapping shared assets Dec 23, 2008

    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.

  • World copper surplus up in first 9 months Dec 23, 2008

    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.

  • Moody’s mulls downgrading Alcoa ratings Dec 23, 2008

    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.

  • Ferrochrome tags dip below $1/lb. with no end in sight Dec 23, 2008

    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.

  • Alcoa and Orkla swapping shared assets Dec 23, 2008

    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.

  • Moody’s mulls downgrading Alcoa ratings Dec 23, 2008

    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.

  • World copper surplus up sharply in first nine months Dec 23, 2008

    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.

  • LME lists 7 new warehouses as stocks soar Dec 22, 2008

    The London Metal Exchange has listed seven new warehouses, underlining the exchange’s popularity amid falling prices.

  • Kemet cuts 1,500 jobs on weak sales Dec 22, 2008

    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.

  • Codelco acquires option to buy stake in Anglo mine Dec 22, 2008

    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).

  • Two Rusal staff in Nigeria kidnapped Dec 22, 2008

    United Co. Rusal workers were kidnapped at the weekend at the Russian aluminum producer’s Nigerian smelter.

  • Norddeutsche said mulling another buy Dec 22, 2008

    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.

  • Alcoa finalizes power deal for Quebec smelters Dec 22, 2008

    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.

  • Lead may be buoyed by e-bikes in China Dec 22, 2008

    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.

  • Global aluminum output down 4.8% Dec 22, 2008

    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.

  • Lead may be buoyed by e-bikes in China Dec 22, 2008

    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.

  • Global aluminum production down 4.8% Dec 22, 2008

    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.

  • Ivernia chief operating officer resigns Dec 22, 2008

    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.

  • GDF Suez gets funding for power plant in Chile Dec 22, 2008

    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.

  • Norddeutsche said mulling another buy Dec 22, 2008

    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.

  • Codelco acquires option to buy stake in Anglo mine Dec 22, 2008

    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).

  • Alcoa finalizes power deal for Quebec smelters Dec 22, 2008

    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.

  • Chevy Volt to roll on Alcoa forged aluminum wheels Dec 22, 2008

    Alcoa Inc. has been awarded the wheel program for the Chevrolet Volt extended-range electric vehicle.

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