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 [...]
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 [...]
Slumping nickel prices and mounting costs are threatening the massive Ambatory mining project in Madagascar, owned 40 per cent by Sherritt International with Montreal’s SNC-Lavalin Group, Somitomo of Japan and Korea Resources as partners. Sherritt’s CFO Dan Chambers said: Ambatory now has an estimated capital cost of more than $3.5 billion U.S. and restructuring is [...]
Albidon said nickel output for the Dec. 2008 quarter had fallen and lowered its production forecasts For full story, click here
Norilsk Nickel says nickel, platinum and palladium output to fall from previously planned levels. Plans to cut copper output next year only, while further falls expected in platinum and palladium. For full story, click here
Nickel prices started the year on positive note, but could not hold on to its gain. Fall in steel demand put pressure on Nickel prices. Prices are trading at multiyear low. For full story, click here
Falling nickel price would also hit high-cost producers, particularly those working or developing the complex laterite ores. For full story, click here
Base metals plunged as LME inventory continued piling up. Nickel fell to $9,470 a tonne. For full story, click here
The peso value of minerals produced for the first nine months this year plummeted as nickel prices fell, a report from the Philippines’ Mining and Geosciences Bureau indicated. For full story, click here
Three-month nickel slid to $9,850 a tonne from $10,300. For full story, click here
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