RioZim (RTNR.ZI), a Zimbabwe mining group, has announced that they would raise a total of $40 million to renovate a nickel refinery and fund the expansion of its gold mining projects. Paul Markham, RioZim operations director is quoted saying: “We would want to have a senior partner … who would build and operate the station, [...]
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Thursday, May 27, 2010
The board of Norilsk Nickel (GMKN.MM) recommended a bumper $1.3 billion dividend on 2009 results. The move is enabling its shareholders, including two Russian giant miners to cash in for return to profit. Chief Executive Vladimir Strzhalkovsky is quoted saying: “Despite the fact that we had a recommendation to pay out 20-25 percent of net [...]
Continue reading "Norilsk Nickel Suggests $1.3B from 2009"
Monday, May 24, 2010
FNX Mining Company Inc. (“FNX”), a Diversified Canadian Nickel Company has completed its merging agreeemnt with Canadian base-metals miners Quadra Mining. The friendly merging of these two mining companies is expected to produce 300-million pounds of copper and 150 000 ounces of platinum-group metals in 2010. Paul Blythe, CEO of Quadra is quoted saying: “The [...]
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Monday, May 24, 2010
The world’s No. 1 nickel and palladium miner, Norilsk Nickel (GMKN.MM), may sell its 51.3 percent stake in Stillwater Mining Co (SWC.N). This is currently the only U.S. producer of palladium and platinum. Vladimir Strzhalkovsky, CE of Norilsk is quoted saying: “Stillwater was bought with the expectation that it would bring strong synergies. There were [...]
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Friday, May 21, 2010
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.
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Thursday, May 20, 2010
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 [...]
Continue reading "FNX and Quadra Merging on May 21"
Wednesday, May 19, 2010
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 [...]
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Tuesday, May 18, 2010
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, [...]
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Tuesday, May 18, 2010
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 [...]
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Monday, May 17, 2010
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 [...]
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Thursday, May 27, 2010