Jul
5
TORONTO, July 4 – Vale said on Sunday it reached a tentative contract agreement with workers at its Sudbury, Ontario, nickel and copper mining operation, signaling the end of a bitter, year-long strike. The Brazilian mining giant said it struck a deal with the United Steelworkers Local 6500 and 6200 representing production and maintenance employees [...]
Jun
17
Looming zinc production shortage will spike prices.
June 17, 2010 | 1 Comment
Hallgarten & Company’s Christopher Ecclestone forecasts “zinc and lead could be back at the 90 cts level within weeks, and should end the year above $1 per lb.” In an analysis published Wednesday, Ecclestone said Hallgarten’s 12-month outlook is for zinc to again reach $1.10 or slightly higher. “Zinc is in a very delicate place,” [...]
Mar
1
* Processing fees to rise to around $270 per tonne * Deal between Teck Resources and Xstrata (Updates with details, quotes) By Chris Kelly SCOTTSDALE, ARIZONA, Feb 28 - Key zinc mining and smelter firms have agreed to processing fees of around $270 a tonne, up almost 40 percent on last year, industry sources said [...]
Mar
1
Change in the Use of Scrap Metal Puts Pressure on Molybdenum Miners..
March 1, 2010 | Leave a Comment
LIBERTY, MO – 03/01/10 — marketfriendly, inc. research finds that the conventional molybdenum market model is flawed because it does not account for scrap metal. Forecasts made from such a model will be impaired as a result. By studying the scrap metal market, one can see that the recession was a scrap dealer’s recession more [...]
Feb
24
Freeport Indonesia aims to sell more copper concentrate locally…
February 24, 2010 | Leave a Comment
JAKARTA, Feb 24 - The Indonesian unit of Freeport McMoran Copper&Gold Inc said on Wednesday it is would sell more copper concentrate to a local smelter as required by a new mining law, but that talks with the smelter have stalled. Under the new law, miners must process minerals using their own facilities or by [...]
Feb
15
ArcelorMittal slams BHP-Rio iron ore joint venture and push for spot iron.
February 15, 2010 | Leave a Comment
ARCELORMITTAL, the world’s largest steelmaker by volume, cautioned that a move toward spot iron ore sales and the announced iron ore joint venture between Rio Tinto and BHP Billiton could adversely affect its business. “The raw materials industry is highly concentrated and suppliers in recent years have had significant pricing power,” ArcelorMittal said in its [...]
Feb
15
ArcelorMittal slams BHP-Rio iron ore joint venture and push for spot iron ore sales..
February 15, 2010 | Leave a Comment
ARCELORMITTAL, the world’s largest steelmaker by volume, cautioned that a move toward spot iron ore sales and the announced iron ore joint venture between Rio Tinto and BHP Billiton could adversely affect its business. “The raw materials industry is highly concentrated and suppliers in recent years have had significant pricing power,” ArcelorMittal said in its [...]
Feb
9
BHP’s haircut for local investors..
February 9, 2010 | Leave a Comment
BHP Billiton stands alone among the global miners in being able increase its dividend payment despite the damage done to its December half profit from the now waning impact of the global financial crisis. But Australian shareholders will not be at the front of the line thanking the company for its generosity. While the interim [...]
Feb
2
Peru’s Southern Copper sees strong prices in 2010..
February 2, 2010 | 3 Comments
* Company sees 2010 copper prices at $3.25/lb * Puts 2010 copper estimate at 500,000 tonnes * Says to produce 18,500 tonnes of molybdenum this year * Still no restart date for strike-hit Cananea LIMA, Feb 2 – Southern Copper Corp, one of the world’s largest copper producers, said on Tuesday it sees average copper [...]
Jan
20
BHP shows spot iron ore market growing.
January 20, 2010 | Leave a Comment
BHP Billiton on Wednesday provided the latest sign that the decades-old mechanism to set an annual contract price for iron ore is breaking down , as the Anglo-Australian mining group said that nearly half its customers had moved to pricing systems linked to the spot market. Releasing its production report for the six months ended [...]