Antam Revenue Steady as Gold, Nickel Ore Production Rises
State-controlled miner Aneka Tambang says its revenue growth was flat last year compared to 2011 as a fall in ferronickel production was offset by rises in nickel ore and gold.
Category Archives: Metals
Investors should get wise and take Indonesia on board
Alex Thursby, ANZ’s chief executive officer, international and institutional banking, told a seminar on Indonesia a few days ago: “I am passionate about Indonesia. I think it should be number one” on that list of the Australian for investment.
Thursby is one of the best informed people in our business world about Asia, so his views need to be taken seriously.
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Rio Said to Consider Halt at Biggest Mongolia Copper Mine
Rio Tinto Group (RIO), the second-biggest mining company, is considering a temporary halt to construction work at its $6.2 billion Oyu Tolgoi copper and gold project in Mongolia as the government demands a greater share of profit from the mine, according to two people familiar with the plans.
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Russia’s palladium reserve ‘almost exhausted’
Russia’s palladium reserves have almost run out and sales this year could be as low as three metric tonnes.
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Western Areas flags new nickel discovery
The company announced this morning it had encountered high grade nickel sulphides under its existing New Morning deposit
Preliminary estimates showed a 2.7 metre interval with an average grade of 5.5 per cent nickel, including 2.1 metres at 6.9 per cent nickel.
http://au.news.yahoo.com/thewest/business/a/-/wa/15951502/western-areas-flags-new-nickel-discovery/
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Xstrata holds Las Bambas copper mine cost at $5.2 bln
LONDON, Jan 25 (Reuters) – Xstrata said on Friday its Las Bambas copper project in Peru would cost $5.2 billion, keeping to 2012 estimates as the miner prepares for a merger with Glencore that will see many of its growth projects come under scrutiny.
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Vale suspends $6bn potash project
Vale has suspended work at its $5.9bn potash project in Argentina indefinitely as the world’s biggest producer of iron ore cuts back investment to the lowest level in three years.
http://www.ft.com/intl/cms/s/0/3d85149c-65c0-11e2-a3db-00144feab49a.html#axzz2IvFi8YmU
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BHP Says Alumina, Nickel Units Pressured, Spurring Sale Talk
BHP Billiton Ltd. (BHP), the world’s biggest mining company, said the high Australian dollar and weak prices are hurting its local alumina and nickel operations, spurring speculation of possible writedowns or asset sales.
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UN experts study effects of Xstrata nickel mine project in Dominican Republic
SANTO DOMINGO, Dominican Republic – A team of experts from the U.N. on Tuesday began evaluating a proposed nickel mine expansion in the Dominican Republic that has been halted by a court over environmental concerns.
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Glencore, Xstrata merger given SA nod with jobs condition
JOHANNESBURG (miningweekly.com) – South Africa’s Competition Tribunal has approved the implementation of the $33-billion merger between Glencore and Xstrata, subject to a condition limiting post-merger retrenchments.
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