Mining and metals companies raised $272 billion of capital last year, up 9 percent, mainly because of “some exceptional loan refinancing, but remain well below 2011’s peak of $340 billion,” E&Y said.
Read more at: http://www.bloomberg.com/news/2014-02-03/funds-seen-by-e-y-leading-mine-m-a-with-10-billion-deals.html
The Wuhan Iron and Steel Corporation, China’s first giant state owned iron and steel company and now the fourth largest steel maker in the world has begun exports of reduced iron powder.
The company stated that earlier this month a shipment of reduced iron powder was delivered to a customer in Korea, marking the first international export of WISCO’s Powder Metallurgy products and laying a solid foundation for further exports of the company’s reduced iron powder.
Read more at: http://www.steelguru.com/international_news/WISCO_successfully_delivers_first_exports_of_reduced_iron_powder/331815.html
(Reuters) – Kazakh miner ENRC is considering selling all its international assets, including its coveted copper operations in Congo, as its founders come under increasing pressure to repay a big loan they took on to privatize the company, industry and banking sources said.
Read more at: http://www.reuters.com/article/2014/02/03/us-enrc-sale-idUSBREA120B320140203
Russia’s Norilsk Nickel said it cut nickel output in 2013 due to a reduction of grades in the processed ore, lower deliveries of semi-finished products and the mothballing of its Lake Johnston operations in Australia.
Read more at: http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=227538&sn=Detail
Brazilian mining major Vale president and CEO Murilo Ferreira has assured that his group has a long-term perspective regarding Mozambique and its investments in that country. He did so during a visit to the African country, which took place from January 11 to 13. He was accompanied by other senior Vale executives.
“Vale is here to stay,” he affirmed. “Our vision continues to be long-term. “We have been well received in Mozambique and we want to see in each kilometre of railway a new opportunity from which people and companies can enjoy the benefits of our projects. “We don’t want to create an activity from which we emerge victorious and the population of Mozambique does not benefit. “They should contribute to the development of the country.”
Read more at: http://www.miningweekly.com/article/brazilian-miner-gives-assurances-about-commitment-to-mozambique-2014-01-31
Norilsk Nickel reported a 5% year-on-year decrease in its nickel production in 2013, following lower shipments of nickel semis from Boliden and Talvivaara to the Harjavalta nickel refinery in Finland and the mothballing of the Lake Johnston operations in Australia.
Read more at: http://www.metalbulletin.com/Article/3304427/Base-metals/Norilsk-Nickel-production-down-slightly-in-2013.html
PERTH (miningweekly.com) – Niobium hopeful Cradle Resources on Thursday reported that a scoping study for its Panda Hill project, in Tanzania, had indicated the potential for a highly economic project.
The scoping study indicated that with an initial capital investment of about $185-million, a two-million-tonne-a-year operation, with a life-of-mine of some 28 years, could be developed, producing around 4.8-million kilograms a year of niobium.
Read more at: http://www.miningweekly.com/article/scoping-study-delivers-strong-results-for-cradle-2014-01-30
PADUCAH – The Tennessee Valley Authority is reporting how they fared during January’s cold snap, and as you can imagine, the numbers for power use are quite high.
Spokesperson Scott Brooks said that the TVA had their second highest ever winter peak demand on Wednesday morning. The first highest was on Friday, January 24th.
Read more at: http://www.wpsdlocal6.com/home/ticker/TVA-reports-record-power-usage-numbers-for-January-242633701.html
TORONTO, ONTARIO–( Jan. 28, 2014) – Northern Sun Mining Corp. (formerly Liberty Mines Inc.) (“Northern Sun” or the “Company”) has entered into a revised loan agreement with Jien International Investment Inc. (“JIIL”), its strategic partner and largest shareholder, to consolidate all of the outstanding debt and to extend the maturity date of all amounts owing to JIIL to December 31, 2015.
Read more at: http://online.wsj.com/article/PR-CO-20140128-912865.html
Indonesia announced back in 2012 that it was planning to ban unprocessed ore exports, but it was only recently that the ban went into effect — January 12, to be specific.
While the news sent many nickel market participants reeling, largely because up until the ban was passed, the expectation was that Indonesia — a major supplier of nickel ore — would not go through with an unadulterated ban, it is proving to be a boon for the Philippines. That’s because in the absence of Indonesian ore, many analysts and investors are turning to the nation as a likely source of nickel.
Read more at: http://resourceinvestingnews.com/65843-nickel-in-the-philippines.html
A Blog for Browsing Mining, Mineral Processing, and Metals Info 