NEW YORK–Freeport McMoRan Copper & Gold Inc. ( FCX ) acquired a share in a cobalt refinery in the Democratic Republic of Congo as part of the company’s continued focus on cobalt production, chief executive Richard Adkerson said.
Japan is ready to start a survey of the Pacific Ocean, hoping to find large deposits of rare earth minerals, below the ocean floor.
Used in everything from electronic devices to electric cars, securing a source of the metals would help Japan rely less on supplies from China.
As the BBC’s Rupert Wingfield-Hayes reports from Tokyo, the Japanese are motivated by political as well as economic concerns.
http://www.bbc.co.uk/news/business-21115519
China Daily reported that China’s nickel pig iron output in 2013 may rise 25% more than previously forecast as costs decline curbing nickel imports Japan’s top producer of the metal said.
Mr Toru Higo general manager of nickel sales and raw materials at Sumitomo Metal Mining Co said that “China’s output of nickel pig iron a substitute for low grade ore from Indonesia and the Philippines will reach 300,000 tonne in 2013.”
Sumitomo’s October projection was for 240,000 tonne Nickel used for corrosion resistance in stainless steel has fallen 11% in the past 12 months.
Led by Ames National Lab, DOE researchers will look for alternatives to rare earth metals used in wind turbines, hybrid cars, lights, and other energy products.
http://www.technologyreview.com/view/509996/doe-opens-innovation-hub-for-critical-materials/
Jamaica’s top energy official says the Caribbean island may benefit from deposits of rare-earth elements that are key ingredients for cellphones, wind turbines and gas-saving cars.
OAO GMK Norilsk Nickel and the Finance Ministry are among Russian issuers that are planning to sell bonds.
Bhubaneswar: Kolkata-based Saraf Agencies Pvt Ltd (SAPL) has planned to perform the ground breaking ceremony for the much-awaited Titanium plant in Odisha’s Ganjam district on January 17.
http://www.financialexpress.com/news/bhoomipuja-for-titanium-project-on-jan-17-shroff/1056390
LONDON – Global miner Anglo American is close to appointing Australian Mark Cutifani, head of gold miner AngloGold Ashanti, as its new chief executive, two sources familiar with the situation said.
http://www.miningweekly.com/article/anglo-close-to-naming-anglogolds-cutifani-as-ceo-2013-01-07
Glencore suspects that it will have to take writedowns on between $5 billion and $7 billion of Xstrata’s assets when the two mining groups merge, sources have told The Times.
http://www.thetimes.co.uk/tto/business/industries/naturalresources/article3648886.ece
AFTER nearly a year bedding down the $1.3 billion acquisition of copper company Anvil Mining, Minmetals Resources chief Andrew Michelmore feels both his company and asset valuations are in the right place for another $1bn-plus base metals purchase.
And a quality nickel operation is sitting high on the wish list.
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