A Blog for Browsing Mining, Mineral Processing, and Metals Info

(Reuters) – Engine maker Rolls-Royce (RR.L) said it was on track to return to growth next year, after reporting an expected 20 percent drop in first-half profit due to shrinking defence spending, currency headwinds and difficulties in its marine unit.

Rolls, the world’s second-largest maker of aircraft engines behind U.S. group General Electric (GE.N), on Thursday posted underlying pretax profit of 644 million pounds in the six months to the end of June, compared to a consensus forecast of 607 million pounds.

Read more at: http://uk.reuters.com/article/2014/07/31/uk-rolls-royce-hldg-results-idUKKBN0G00EZ20140731

RIO DE JANEIRO, July 31 (Reuters) – Vale posted a fall in profit compared with the previous quarter as lower iron ore prices undermined record production of the main steel-making ingredient by the Brazilian-based miner.

Vale’s nickel production offered some relief. The base metals division contributed $609 million to earnings before interest, taxes, depreciation and amortization, or EBITDA, a key measure of ability to generate cash from operations.

Read more at: http://af.reuters.com/article/commoditiesNews/idAFL2N0Q60EL20140731

(Reuters) – Newmont Mining Corp will stick to a “parallel path” of arbitration and negotiation with the government of Indonesia in an attempt to resolve an impasse over copper concentrate exports, the company’s chief executive said on Wednesday.

The U.S.-based miner, which operates the Batu Hijau mine in Indonesia, said its revised production outlook assumes receiving an export permit by January 2015, a full year after exports were halted.

Read more at: http://in.reuters.com/article/2014/07/30/newmont-mining-indonesia-idINL2N0Q51GM20140730

PARIS, July 30 (Reuters) – An embargo against Norilsk Nickel as part of Western sanctions against Russia would hurt nickel users in Europe and the United States rather than Norilsk itself, the head of French mining group Eramet said.

Read more at:  http://in.reuters.com/article/2014/07/30/eramet-results-russia-idINL6N0Q53NX20140730

The US on Tuesday said it will impose restrictions on exports of US energy technologies to Russia for use in deepwater, Arctic offshore or shale oil projects, as part of a sanctions packaged aimed at punishing Moscow for further escalating the crisis in Ukraine.

The export restrictions dovetail with similar measures the EU is expected to impose on Russia later this week.

Read more at:  http://www.platts.com/latest-news/oil/washington/us-to-restrict-exports-of-energy-technologies-21989171

The outgoing Indonesia administration has signed a deal with the United States company operating one of the world’s largest copper and gold mines in West Papua.

Freeport McMoRan has made an agreement with Indonesia to continue its operations after 2021.

Susilo Bambang Yudhoyono had earlier pledged that he would meet with the President-elect before signing any deal, but the Jakarta Post reports the the MOU was signed without any discussion.

Read more at: http://www.radionz.co.nz/international/pacific-news/250777/indonesia-breaks-rules-to-ink-freeport-deal

Arcam  released its second-quarter 2014 earnings on July 18. While the Swedish industrial metal 3-D printing specialist posted weak earnings, there was some good news that hasn’t yet shown up in its results: Very early indications are that Arcam’s new Q20 3-D printer, based on the company’s proprietary electron beam melting technology, is garnering solid interest from the aerospace industry. Arcam has received eight orders since the Q20 was launched in December.

THE DEPARTMENT of Environment and Natural Resources (DENR) has temporarily shut down four nickel mines in Santa Cruz, Zambales after finding their operators failing to comply with regulations.

Nickel prices could reach an average price of US$10.75 per pound by 2015 according to a Scotiabank commodity market specialist.

Read more at: http://www.northernontariobusiness.com/Industry-News/mining/2014/07/Nickel-to-surpass-$10-a-pound-by-2015–analyst.aspx