Roman Abramovich gains control of world’s biggest nickel mine
Kremlin appears to endorse deal that hands biggest voting share in $30bn Norilsk Nickel to Chelsea owner.
http://www.guardian.co.uk/world/2012/dec/04/roman-abramovich-nickel-mine-norilsk
Category Archives: Metals
Vale to scale back investment as global economy bites
RIO DE JANEIRO, Dec 3 (Reuters) – Brazil’s Vale SA , the world’s second-largest mining company, cut estimated 2013 capital spending by 24 percent after a global slowdown and a drop in iron ore prices led the company to rethink its outlook for expansion.
http://www.reuters.com/article/2012/12/03/vale-investments-idUSL1E8N30UO20121203
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Journey into the earth at a Norilsk Nickel mine
A Russia Now correspondent visits a Norilsk Nickel mine beyond the Arctic Circle for a taste of life in the tunnels nearly a mile below ground.
http://www.telegraph.co.uk/sponsored/russianow/features/9718598/norilsk-nickel-mine-visit.html
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China makes foray into African mining with bid for Barrick Gold
Canadian mining firm Barrick Gold is said to be concluding talks to sell all or part of its 74 per cent stake in ABG to China’s largest gold producer, China National Gold Group Corp (CNGG), a deal first announced on August 16. The deal, analysts said, could lead to a sharp decline in traditional Western trading partners’ stranglehold on Africa’s mining sector as China scrambles to take over exploration and mining operations in Africa to satisfy its expanding domestic demand for commodities, especially gold.
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Nickel’s bounce to be hit by heavy 2013 surplus
LONDON, Nov 30 (Reuters) – Nickel prices may see a short-term lift over the next several months due to a seasonal rise in demand for stainlesssteel, but next year’s outlook is burdened by another market surplus.
http://www.reuters.com/article/2012/11/30/metals-nickel-outlook-idUSL5E8MN6LA20121130
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Copper Shortage Seen Extending as China Accelerates
Copper supply shortages will extend into the first half of next year as an accelerating Chinese economy more than doubles the pace of growth in global consumption even as mines extract a record amount of metal.
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Glencore-Xstrata Copper Output Seen Above 1 Million Tons
The merged company to be formed by Glencore PLC (GLEN.LN) and Xstrata PLC (XTA.LN) could produce “well over” one million metric tons of copper next year once antitrust regulators in various countries approve the mining alliance, a senior executive from Xstrata Copper Australia said Thursday.
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Indonesia’s nickel ore exports recover from govt curbs
JAKARTA – Indonesia’s nickel ore exports recovered in October, as biggest buyer China stocked up ahead of winter and more miners resumed production after meeting tough government rules that battered shipments this year from the world’s top exporter of the metal.
http://www.miningweekly.com/article/indonesias-nickel-ore-exports-recover-from-govt-curbs-2012-11-27
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Sudan to produce 50 tonnes of gold this year, earning $2.5 bln
KHARTOUM, Nov 27 (Reuters) – Sudan expects to produce around 50 tonnes of gold this year, earning $2.5 billion, its mining minister said, as the country seeks to offset the loss of most oil reserves when South Sudan became independent last year.
http://www.reuters.com/article/2012/11/27/sudan-gold-idUSL5E8MR59U20121127
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Fighting in Congo Could Push Up Price for Tantalum
Renewed fighting between rebels and government troops in Congo’s restive east is likely to make it very difficult for consumers of the rare-earth metal tantalum, used in the aerospace and electronics industry, to continue to trade legitimately with the country, traders and analysts said Monday.
http://blogs.wsj.com/marketbeat/2012/11/26/fighting-in-congo-could-push-up-price-for-tantalum/
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