Nonferrous

  • Titanium view clouded by 787 delays Dec 31, 2008

    Despite an unprecedented order book for the Boeing 787 Dreamliner that only grew larger as 2008 came to an end, program delays on the new plane continue to cast a cloud over the New Year’s outlook for titanium.

  • Wolverine Tube’s net loss widens to $23.9M in 3d qtr. Dec 31, 2008

    Wolverine Tube Inc. has released third quarter results—results it hopes are correct after it filed erroneous reports in both the first and second quarters of 2008—and they aren’t good.

  • China’s Zijin plans new smelter Dec 31, 2008

    Zijin Mining Group Co. Ltd. plans to build a 200,000 tonne-per-year copper smelter, with commissioning set for the second half of 2012.

  • Rollercoaster ride of ’08 turns aluminum’s sights on long haul Dec 31, 2008

    To say that 2008 was a year of changed expectations for the aluminum market would be putting it mildly.

  • Ivanhoe to buy SouthGobi’s Mongolian metals projects Dec 31, 2008

    SouthGobi Energy Resources Ltd., Vancouver, British Columbia, has sold its metals division to Ivanhoe Mines Ltd. for $3 million.

  • China copper fabricators may default Dec 31, 2008

    Copper fabricators in China are facing a tough January, with some likely to default on purchase contracts signed when the market was booming earlier in 2008, market participants said.

  • Rio Tinto Alcan selling China venture Dec 31, 2008

    Rio Tinto Plc, London, has reached an agreement to sell its 50-percent stake in a Chinese aluminum smelter, a company spokesman confirmed Tuesday.

  • Ivanhoe to buy SouthGobi’s Mongolian metals projects Dec 31, 2008

    SouthGobi Energy Resources Ltd., Vancouver, British Columbia, has sold its metals division to Ivanhoe Mines Ltd. for $3 million.

  • Rio Tinto Alcan to sell stake in China aluminum venture Dec 30, 2008

    Rio Tinto Plc, London, has reached an agreement to sell its 50-percent stake in a Chinese aluminum smelter, a company spokesman confirmed Tuesday.

  • Copper fizzles in December, marking end of volatile year Dec 30, 2008

    December was a cruel month for copper, which plummeted more than 20 percent within a 30-day period to end a year that will be remembered for base metals’ peaking highs and crippling lows.

  • Codelco sells Pecobre interest Dec 30, 2008

    Chile’s state-owned Codelco has sold its $5-million stake in Minera Pecobre SA de CV to Mexico’s Industrias Peñoles SA de CV. Pecobre, a copper firm with exploration activities in Mexico’s northern Sonora state, was formed in May 2005 as a joint venture between the company and Peñoles. On Tuesday, Codelco (Corporacion Nacional del Cobre de Chile) confirmed that it had sold its 49-percent interest in the Mexican exploration company but gave no reason for the sale.

  • Ex-Kremlin official appointed Norilsk chairman Dec 30, 2008

    MMC Norilsk Nickel has appointed a prominent ex-Kremlin official as chairman of its new board of directors in a sign that the Russian authorities are seeking to tighten control of the country’s key industries.

  • Glencore tightens grip on Katanga with $265.3M loan Dec 30, 2008

    Glencore International AG has tightened its grip on the Democratic Republic of Congo (DRC) copper-cobalt producer Katanga Mining Ltd. after throwing the troubled company a $265.3-million lifeline. Switzerland-based Glencore has agreed a two-year convertible loan facility, comprising $100 million underwritten by Glencore Finance and an amendment of an existing $150-million loan, with accrued interest, amounting to $165.3 million.

  • Creston Moly plans appeal of $3.4M finders fee ruling Dec 30, 2008

    Creston Moly Corp. plans to appeal an arbitration ruling to pay a finders fee of Canadian $4.14 million ($3.4 million) for the acquisition of Toronto-based Creston Mining Corp. and its Minera Exploraciones Global SA de CV subsidiary in Mexico.

  • Amerigo cuts costs amid financial storm Dec 30, 2008

    Recoiling from collapsing metal prices and a brutal third quarter, Amerigo Resources Ltd., Vancouver, British Columbia, has taken a number of steps to secure capital and reduce costs in the upcoming year that the junior miner hopes will keep it afloat in an increasingly dismal economic environment.

  • Loan default costs Zaruma Mexico unit Dec 30, 2008

    Junior miner Zaruma Resources Inc., Toronto, has lost control of the shares in wholly owned Mexican subsidiary Minerales Libertad SA de CV after defaulting on a $23.5-million loan from a unit of Glencore International AG, Zug, Switzerland.

  • Codelco sells Pecobre interest Dec 30, 2008

    Chile’s state-owned Codelco has sold its $5-million stake in Minera Pecobre SA de CV to Mexico’s Industrias Peñoles SA de CV.

  • Amerigo cuts costs in bid to weather financial storm Dec 30, 2008

    Recoiling from collapsing metal prices and a brutal third quarter, Amerigo Resources Ltd., Vancouver, British Columbia, has taken a number of steps to secure capital and reduce costs in the upcoming year that the junior miner hopes will keep it afloat in an increasingly dismal economic environment.

  • Creston Moly plans appeal of $3.4M finders fee ruling Dec 30, 2008

    Creston Moly Corp., Vancouver, British Columbia, plans to appeal an arbitration ruling to pay a finders fee of Canadian $4.14 million ($3.4 million) for the acquisition of Toronto-based Creston Mining Corp. and its Minera Exploraciones Global SA de CV subsidiary in Mexico.

  • Virgin Metals buying Nevada moly project Dec 29, 2008

    Virgin Metals Inc., a Toronto-based junior exploration and development company, has agreed to buy Nevada Eagle Resources LLC’s Topper molybdenum project in Nevada for 3 million common shares.

  • Sluggish aluminum market unfazed by China buys Dec 29, 2008

    Aluminum prices fell on the London Metal Exchange Monday as a sluggish market was largely indifferent to China’s reported aluminum buying, given the preponderance of bearish macroeconomic news.

  • Cleanup efforts ongoing at former Alcoa smelter Dec 29, 2008

    Alcoa Inc. has begun dredging contaminated sediment from the Columbia River and has removed more than 5,000 cubic yards of high-level polychlorinated biphenyl (PCB)-contaminated sediment from a site adjacent to a former aluminum smelter in Washington, according to a report from the Washington Department of Ecology.

  • Cleanup efforts ongoing at former Alcoa smelter Dec 29, 2008

    Alcoa Inc. has begun dredging contaminated sediment from the Columbia River and has removed more than 5,000 cubic yards of high-level polychlorinated biphenyl (PCB)-contaminated sediment from a site adjacent to a former aluminum smelter in Washington, according to a report from the Washington Department of Ecology.

  • Guinea’s bauxite, alumina operations continue following coup Dec 29, 2008

    A military coup hasn’t disrupted alumina and bauxite mining operations in Guinea, despite concerns in the bauxite-rich west African country about the new government’s plans to push ahead with a review of the country’s mining operations.

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