Category Archives: Metals

Chinese lead shortlist for Glencore’s $5.9 bln Peru mine

Oct 10 (Reuters) – Two groups of Chinese miners, in partnerships that will pit giant Chinalco against rival Minmetals, lead a shortlist of suitors for Glencore Xstrata’s $5.9 billion Las Bambas copper mine in Peru, according to sources involved in the process.

Glencore agreed this year to sell the Las Bambas project to meet demands from China’s competition authorities after its record-breaking takeover of mining group Xstrata. The Chinese regulator feared that the tie-up handed the newly formed commodities heavyweight too much power in copper.

http://in.reuters.com/article/2013/10/10/glencore-lasbambas-sale-idINL6N0HZ44D20131010

Burundi’s assembly passes bill on mining code

The new bill “opens doors” to the private sector that will need to inject assets into the mining sector in Burundi, the minister said, adding: “Burundi is a poor country and therefore needs private investments in the mining sector.”

The East African country boasts rich nickel resources in its eastern region and gold in the eastern and western parts
http://india.nydailynews.com/business/0be6be11d44079412a581f2074e8b939/burundis-assembly-passes-bill-on-mining-code#ixzz2hKSZ64Dg

Protests close world No. 2 ferronickel mine in Colombia

BOGOTA (Reuters) – Cerro Matoso, the world’s No. 2 ferronickel producer owned by multinational BHP Billiton and located in Colombia, said it has temporarily shut its mine after two weeks of protests by indigenous groups, halting 4 percent of world output.

http://www.globalpost.com/dispatch/news/thomson-reuters/131009/worlds-no-2-nickel-mine-colombia-closed-protests

BHP completes Gemco expansion, celebrates 50 years

PERTH (miningweekly.com) – Mining giant BHP Billiton has completed the second stage of its Groote Eylandt expansion project, coinciding with the firm celebrating 50 years of mining from the manganese operation, in the Northern Territory.

The $279-million second stage expansion of the Gemco project was expected to increase its beneficiated product capacity from 4.2-million tonnes a year to 4.8-million tonnes a year through the introduction of a dense media circuit bypass facility.

http://www.miningweekly.com/article/bhp-completes-gemco-expansion-celebrates-50-years-2013-10-10

Asia’s Premier Nickel Conference

The 3rd Asia Nickel conference will provide the latest regulatory updates from key Indonesian government representatives and evaluate implications for the Indonesian, as well as global nickel markets.

http://www.asianickel.com/index.php

Vale plans to invest $34 billion just in its iron-ore mines and logistics systems in the next five years

RIO DE JANEIRO–Brazilian mining giant Vale SA (VALE) sees the global iron-ore market shifting into surplus territory in coming years, with producers building up excess capacity equivalent to around 5% of demand, a top executive said Monday.

But the world’s largest iron-ore producer still doesn’t see benchmark prices falling below $100 per metric ton, given that around 30% of output comes from high-cost mines that would likely shutter below that price level, Jose Carlos Martins, Vale’s executive director of ferrous and strategy, said at a steel conference.

“In the next three to five years, we really believe iron-ore prices will stay above $100, and probably between $110 and $120,” Mr. Martins said.

http://online.wsj.com/article/BT-CO-20131007-707798.html

China’s demand for copper, aluminium expected to rise in 2014

China is expected to import more refined copper next year as Beijing steps up building of power networks, rail lines and low-cost homes, while domestic production is likely to be squeezed by tight scrap supply, industry sources said.

Refined copper consumption might rise 5 per cent to 6 per cent next year, three large end-users and producers estimated. This would take consumption to about 8.6 million tonnes, based on 8.1 million tonnes estimated for this year by state-backed research firm Beijing Antaike Information and Development.

http://www.scmp.com/business/commodities/article/1326306/chinas-demand-copper-aluminium-expected-rise-2014

Gecamines of Congo Studies Selling Stake in Glencore Mine

Gecamines, the Democratic Republic of Congo’s state-owned mining company, may sell its 20 percent stake in Glencore Xstrata Plc (GLEN)’s Kamoto Copper Co. to raise money for other projects, said Chairman Albert Yuma.

“We’ve been in discussions with 14 groups who’ve gone through a tender and the process is ongoing,” Yuma said in an Oct. 3 interview in the Congolese capital, Kinshasa. Glencore’s Katanga Mining Ltd. (KAT), which owns 75 percent of KCC, would have right of first refusal of any sale, he said.

http://www.businessweek.com/news/2013-10-06/gecamines-of-congo-studies-selling-stake-in-glencore-copper-mine

No plans to step down for Norilsk’s billionaire CEO

LONDON (Reuters) – When he took the helm of Norilsk Nickel last December as part of a deal that ended a long-running shareholder battle, Russian billionaire Vladimir Potanin hinted he saw himself in the job for roughly two years.

Almost a year on, Potanin is clearly relishing his role at the center of a major turnaround and indicates he has no plans to stand down as chief executive of the world’s largest producer of nickel and palladium.

“I don’t like deadlines,” the 52-year-old Potanin told Reuters over tea in an upmarket London hotel late on Friday after a long day spent wooing investors.

His departure could be years away as he develops the Norilsk management into a world-class team, he said.

http://news.yahoo.com/no-plans-step-down-norilsks-billionaire-ceo-145942539–finance.html

INNOVA Inks Distribution Agreement for Carbonyl Iron Powder (CIP)

Charlotte, NC (PRWEB) October 04, 2013

INNOVA Global Resources has signed a long term, exclusive sales and distribution agreement for Carbonyl Iron Powders (CIP) with Jilin Jien Nickel Industry of Jilin China.

INNOVA will be delivering Jilin Jien’s product line from US stocks, with offerings for all the CIP consuming industries; MIM and powdered metals, Inductive electronic components, Diamond synthesis and bonding, MR fluids, microwave absorption, coatings and nutrition.

http://www.prweb.com/releases/2013/10/prweb11190914.htm

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