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Category Archives: Metals

Western Areas ignores nickel headwinds

Posted on August 21, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Western Areas ignores nickel headwinds

Western Areas chief executive Dan Lougher said its cost cutting regime insulated it from the weak nickel price.

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Glencore dives in to Sirius nickel despite weak prices

Posted on August 20, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Glencore

Glencore has been experiencing financial troubles due to weak commodity prices, but this did not prevent the mining giant from taking in the remaining off take from Sirius Resources’ Nova mine in Western Australia.

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Glasenberg unable to ‘read China’ as Glencore slumps to huge loss

Posted on August 19, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Ivan Glasenberg's hopes of taking over Rio Tinto have taken a hit amid a $US676 million loss for the first half of 2015.

Glencore chief executive Ivan Glasenberg has conceded he cannot “read” the Chinese economy at the moment, and had been “surprised” by the savage downturn in commodity prices over the past six months.

The frank admissions, which are at odds with Mr Glasenberg’s reputation for market wisdom, came after Glencore’s balance sheet collapsed into a $US676 million statutory loss.

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India, United States seek proposals for innovative off-grid clean energy projects

Posted on August 19, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

NEW DELHI: To take India – U.S. relationship a step ahead US announced more grants will be available for innovative, early-stage off-grid clean energy projects. U.S. Ambassador to India Richard Verma announced today that up to $2 million in grants will be made available for innovative, early-stage off-grid clean energy projects in the first round of the the U.S.-India Partnership to Advance Clean Energy (PACE) setter Fund, a joint 50 crore rupee ($7.9 million) fund established in June by the Governments of India and the United States to accelerate the commercialization of off-grid clean energy solutions.

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Australian nickel refiner seeks more ore from New Caledonia

Posted on August 19, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

“Queensland Nickel reconfirms its commitment to New Caledonia after spending more than A$1 billion ($734 million)in recent years growing the economy of the Pacific archipelago, and is happy to take increased volumes of its laterite ore,” refinery owner Clive Palmer said in an email to Reuters.

Palmer also said his refinery had confirmed to nickel miner Societe Le Nickel in New Caledonia that it was “ready and willing” to extend its contract for five years.

Metals

Coal prices fall to 12-year lows as China, India join demand slowdown

Posted on August 19, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

A man stands amidst coal at a factory in Shaoxing, Zhejiang province, April 29, 2014. REUTERS/William Hong/Files

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Can Ivan Glasenberg dig Glencore out of trouble this time?

Posted on August 18, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

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S.African nickel miners to strike over bonus pay

Posted on August 16, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

The powerful South African mining union NUM called for an indefinite strike starting Sunday at the nickel mine in eastern Nkomati over demands for bonus pay.

The action is set to begin at 7:00 pm (1700 GMT) and “will continue indefinitely until the NUM demands are complied with,” the deputy general secretary of the union and chief negotiator William Makgabo Mabapa said in a statement Saturday.

Metals

Oman’s mining sector to attract foreign investment

Posted on August 16, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

MUSCAT: Oman’s mining sector foresees notable growth in the next few years, following the discovery of sizeable reserves of minerals, gold, copper and rare earths, which will significantly boost mining activities and attract investment to the Sultanate.

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Glencore sells Dominican Republic Nickel mine to American Nickel

Posted on August 14, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Santo Domingo.- Nickel miner Falconbridge Dominicana (Falcondo) on Thur. announced that American Nickel Limited (ANL) acquired 100% of its shares from Glencore Canada Corporation, becoming the Dominican company´s majority stakeholder.

“With the transaction, the property and rights of the other shareholders of Falconbridge are preserved unchanged, including the Dominican Government, who will continue to receive over 50% of the profits,” the company said in a statement.