Mining industry
BHP Billiton, the world's largest mining company, may be able to negotiate lower processing fees from Japanese smelters for its copper contracts due to a shortage of raw materials. The talks between BHP and Japanese smelters, including Pan Pacific Copper Co., have been ongoing, with no agreement reached
Mining industry
Perth-based Kagara Ltd (ASX:KZL) has entered into an agreement with Transamine, a concentrate trader, to sell shares representing 11.5% of its equity. The arrangement involves a placement of 25 million shares at 40 cents each, valuing the transaction at A$10 million (US$6.3 million). The funds
Mining industry
ZNext Mining Industries, Inc., a Philippine-based mining company, has announced the development of its XYZ Gold Processing Plant in Masbate Island, Philippines. The plant, which is expected to be operational in 180 days, will have a capacity to produce about 15+ ounces of gold per metric ton of ores per
Mining industry
A two-day strike at Xstrata's Altonorte copper smelter in Chile has come to an end after a new three-year contract was agreed upon between the company and its 356 workers. According to Xstrata official Jon Evans, the strike was officially called off, and all workers have returned to
Mining industry
Labor issues in Chile's copper mining sector resolved, pushing copper futures to six-month low, while global aluminum output and Russian nickel production also experienced changes in November and January-November respectively. Meanwhile, new discoveries were made in Australian copper and zinc-lead deposits, while a provincial bill to suspend open
Mining industry
Shanghai copper futures surged higher due to increased demand caused by a potential strike at Xstrata Plc's Altonorte copper smelter in Chile. The Shanghai aluminum futures, however, ended mixed, reflecting a complex market balance between supply and demand factors. Key Takeaways: * Shanghai copper futures ended higher, up 660
Mining industry
International PBX Ventures Ltd. has announced impressive results from its bulk testing of copper oxide-bearing material at the Tabaco site in Chile. The company has extracted copper-rich material from two dumps, with significant grades of 1.42% and 1.6% copper, respectively. These findings are consistent with previous sampling results,
Mining industry
Canadian mining stocks experienced a significant surge on the Toronto Stock Exchange as investors reacted to the news of Freeport-McMoRan Copper and Gold Inc.'s proposed US$25.9-billion acquisition of Phelps Dodge Corp. The move follows a trend of consolidation in the industry, driven by soaring demand for
Mining industry
Platinum futures experienced a significant increase on Monday, as traders and analysts attributed the rise to developing supply tightness, options-related activity, and fund and speculative buying. The market saw a rebound from Friday's lows, with the sell-off in platinum futures having a noticeable impact on the market. This
Mining industry
The Asian energy sector experienced a decline in stock prices on Friday, led by PetroChina and Inpex Holdings, as the price of crude oil experienced its biggest drop in a year. This led to a pullback in commodities prices, which in turn affected the performance of resource stocks. However, some
Mining industry
South Korean companies, LG International and Korea Resources, have partnered with Australian mining company, Lafayette Mining Limited, to develop a copper mine in the Philippines. The Rapu Rapu mine, located 375 kilometers southeast of Manila, will produce 11,000 tons of copper annually for the next five years. This move
Mining industry
Brazil's stock market took a hit on average 2.3% on September 6, 2006, with key companies like Tele Norte Leste Participacoes, Petrobras, and CVRD leading the decline. The sell-off follows a months-long battle for control of Canadian mining companies Inco and Falconbridge, which has been part of
