LME nickel rose as high as $18,715 a tonne, its highest since Feb. 6, 2013, and was trading at $18,513 a tonne at 1010 GMT, up 0.4 percent.
Read more at: http://af.reuters.com/article/metalsNews/idAFL6N0NK27M20140428
Vale is weighing legal action after Guinea formally cancelled multi-billion-dollar iron ore rights that the Brazilian mining group held jointly with Israeli tycoon Beny Steinmetz’s family conglomerate following a two-year corruption inquiry.
The revocation of the rights came two weeks after a government inquiry in the west African nation concluded that BSG Resources, the mining arm of Mr Steinmetz’s business empire, won them through a bribery scheme before agreeing to sell a majority stake in its Guinean assets to Vale for $2.5bn in 2010.
Read more at: http://www.ft.com/intl/cms/s/0/eb70afe6-ce18-11e3-9dfd-00144feabdc0.html?siteedition=intl#axzz306x3IQzo
RIO DE JANEIRO, April 24 (Reuters) – A Brazilian appeals court on Thursday gave mining company Vale SA a partial victory in its 22.3 billion real ($10 billion) dispute with Brazil’s government over the taxation of its foreign units.
Brazil’s Superior Justice Tribunal, the last court of appeal before the Supreme Court, ruled three to one that Brazilian treaties with Belgium, Luxembourg and Denmark prevent Brazilfrom taxing the profits of Vale units in those countries, the court’s press office said.
Read more at: http://www.reuters.com/article/2014/04/24/vale-taxes-idUSL2N0NG2BD20140424
(Reuters) – Newmont Mining Corp is running out of space to store copper concentrate in Indonesia, where a dispute with the government has halted exports, and may be forced to cut production, Chief Executive Officer Gary Goldberg said on Friday.
On a call with analysts and investors, Goldberg said Newmont’s concentrate barn was set to reach full capacity in the second half of May.
Read more at: http://in.reuters.com/article/2014/04/25/newmont-mining-results-idINL2N0NH0XQ20140425
(Reuters) – Russia’s Norilsk Nickel , the world’s largest nickel and palladium miner, plans to increase its 2013 dividend payment by 17 percent year-on-year, the company said on Friday.
Read more at: http://www.reuters.com/article/2014/04/25/russia-norilsk-dividends-idUSL6N0NH2N020140425
Leveraging a host of its proprietary technologies cultivated over many years involving polymerization, inorganic materials, and polymer molding, Sumitomo Chemical is vigorously deploying its business of battery separators, which are important components in lithium-ion secondary battery cells. PERVIOTM, which is comprised of a heat-resistant layer composed of aramid fiber and ceramics with a polyolefin substrate, is a separator that will help improve battery safety, and it is widely used in lithium-ion secondary batteries for such products as electric vehicles, notebook PCs, and smartphones.
Read more at: http://www.sumitomo-chem.co.jp/english/newsreleases/docs/20140425e_2.pdf
(Reuters) – China’s refined copper capacity is now sufficient to cover domestic demand, Xiaoguang Jin, Vice President of Minmetals Non-Ferrous Metals Holding Limited said on Thursday.
China is the world’s top user of refined copper. The comments suggest China’s appetite to purchase refined copper from global markets may recede although it would still need to import copper concentrate.
Read more at: http://in.reuters.com/article/2014/04/24/lme-asia-week-copper-idINL3N0NG13O20140424
(Reuters) – Mongolia’s copper concentrate export volumes leapt 53 percent year-on-year in March, with rising output from the $6.5 billion Oyu Tolgoi project run by Anglo-Australian miner Rio Tinto driving up sales, official data showed.
According to figures released on Wednesday by Mongolia’s National Statistical Office, copper concentrate accounted for 35 percent of the country’s total mineral export earnings in March, with sales totaling $349 million, a 67 percent rise compared with $209 million a year earlier.
Read more at: http://www.reuters.com/article/2014/04/23/mongolia-exports-copper-idUSL3N0NF27F20140423
Nickel for delivery in three months rose 1.9 percent to $18,260 a metric ton by 9:18 a.m. on the London Metal Exchange, after earlier today climbing to $18,282, the highest since Feb. 18, 2013. The metal has risen 31 percent this year, the most among the six main metals traded on the LME.
Read more at: http://www.businessweek.com/news/2014-04-21/nickel-gains-for-third-day-to-14-month-high-on-supply-concern
The purchase by a China Minmetals-led consortium of the Las Bambas project, Peru’s biggest undeveloped copper deposit, will help the company’s MMG unit reach its goal of becoming a US$20bn company within a decade.
Source: http://www.bnamericas.com/news/mining/las-bambas-purchase-to-help-mmg-become-us20bn-company
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