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
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.
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.
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.
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.
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