Western Areas NL:ASX:WSA, Nickel Sulphide producer, has teamed up with Minara Resources (MRE.AX), a fellow nickel producer, to treat ore from the Spotted Quoll mine, in Western Australia. Minara has the capacity to treat 550 000 t/y of ore and will be fully operational in June. Click here to access the entire news.
FNX Mining Company Inc. (“FNX”), a Diversified Canadian Nickel Company and Quadra Mining Ltd. (QUA.TSX), a multi-asset copper and base metal producing company have agreed to merge where FNX share will be exchanged for 0,87 Quadra shares and $0,0001. The deal is set to close on May 21 after the two parties have sought the [...]
Fox Resources Ltd (FXR) is now discussing about the Radio Hill nickel/copper project, in Western Australia with China’s Jinchuan Group. The project is now on care and maintenance status. Fox chairperson Terry Streeter is quoted saying; “The company is buoyed by the fact that Jinchuan remains a key strategic alliance for Fox and intends to [...]
Hannans Reward Ltd (ASX: HNR) will restart its exploration of nickel sulphide at its Queen Victoria Rocks project. This project is 100% owned by the company, located at 30km west of Coolgardie in the Goldfields region of Western Australia. Hannans‚ Managing Director Damian Hicks is quoted saying; “Hannans has a suite of three excellent nickel [...]
OAO GMK Norilsk Nickel has posted a higher than expected earnings for the first quarter yesterday. The company’s sales fell 27% to $10.2bn. Its net income was $2.65 billion as compared with a $555 million loss in 2008. The Norilsk’s biggest revenue generator is nickel. This metal was the best-performing commodity in 2009 which has [...]
Xstrata Plc’s (XTA.L) biggest shareholder, Glencore International AG [GLEN.UL], the trading and mining giant, has announced that 2010 is a solid year for the company. It has sold nickel, zinc, and copper at higher prices at the start of the this year. Henri Alexaline, a credit analyst at BNP Paribas was quoted saying: “If anything, [...]
World’s top nickel and palladium miner, Mining and Metallurgical Company Norilsk Nickel (MMC Norilsk Nickel) plans to sell some of its nickel laterite projects in Australia. It has also dismissed any value to be gained with debt-laden UC RUSAL (RUAL.PA). The company plans to reduce its dependence on nickel to 35 percent of revenue by [...]
FNX Mining Company, a Diversified Canadian Nickel Company has reported that nickel sales dropped 400,000 pounds as copper sales has dropped to 50%. However, precious metals sales went up to 13,258 ounces during the Q1 of 2010. Terry MacGibbon, FNX CEO is quoted saying: “The first quarter results were impacted by a temporary shortfall at [...]
Mirabela Nickel Ltd., an ASX and TSX listed Brazil-focused mining company has posted a A$25,17 million loss for the quarter ended March 2010. The press release is quoted saying: “As at March 31, 2010, the Group had a net hedge liability position of A$138.827 million (December 31, 2009: A$20.444 million negative) reflecting the positive mark-to-market [...]
There are still doubts over Europe’s $1 trillion emergency rescue plan. This year, Nickel (Ni) CMNI3 and lead CMPB3 fell more than 5 percent, while zinc (Zn) CMZN3 and aluminum (Al) CMAL3 fell about 4 percent and copper (Cu) fell nearly 3 percent. Christin Tuxen, analyst at Danske Bank is quoted saying: “There are some [...]
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