The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.

Some existing producers also have shut down or curtailed output at mines and plants as high costs and low prices bite.

Below are details of major projects and facilities affected in recent months, as well as other related news.

March 12 – Kosovo’s sole ferro-nickel producer Ferronikeli has cut its output by half. Producing 330 tonnes per month compared with about 700 tonnes earlier.

March 11 – Russia’s Ufaleynickel said it had shut down a furnace and could halt output altogether if demand remained poor. Only two out of plant’s five furnaces are working.

March 9 – Kazakh mining group Eurasian Natural Resources Corp Plc (ENRC) will review its production cuts in the second quarter, an official told the Reuters Global Mining and Steel Summit. Late last year it cut ferrochrome output by about 35 percent and iron ore output by 50 percent.

March 6 – Glencore International Ag has notified Zambian authorities it plans to halt operations at the Mufulira copper mine and put its Nkana mine under maintenance, the country’s mines minister said.

March 5 – Norwegian aluminium producer Norsk Hydro announced a further cut of 250-300 jobs aimed at saving $99.1-113.3 million. About 40 percent of savings expected to come from external services and consultants.

March 4 – Alcoa Inc said it plans to chop payroll costs by 15 percent at its Canadian aluminium smelting operations.

March 4 – Finnish mining firm Talvivaara said it would defer all capital expenditure not needed to achieve budgeted production until 2010. It produces nickel and zinc.

March 4 – Japan’s top copper smelter Pan Pacific Copper Co Ltd said it will continue to cut copper output by 10 percent for the full business year starting in April.

March 3 – Century Aluminum of Kentucky, a subsidiary of Century Aluminum said it curtailed one potline at its Hawesville, Kentucky primary aluminium smelter, effectively cutting about 4,370 tonnes in monthly output.

March 3 – Cuba may soon cut its nickel output, sources close to the industry said. Unrefined nickel and cobalt production at two state-run processing plants are under review due to their inefficiencies.

March 3 – Vale Inco said it will eliminate about 900 full-time jobs, with close to half of the cuts at its Canadian operations. Will be focused on business support rather than key mining and processing areas.

March 3 – Albidon Ltd said it has suspended operations at its Munali nickel project in Zambia. At full capacity the mine, which came on stream last May, was expected to produce 10,000 tonnes per year (tpy) of nickel.

March 2 – Indonesia’s PT Aneka Tambang Tbk plans to produce 12,000 tonnes of ferro-nickel in 2009, down about 32 percent from a year ago.

Feb 27 – European zinc producers are preparing to make further production cuts, world No. 2 producer Oz Minerals Ltd said.

Feb 26 – Australia’s mining sector invested a record amount last quarter, but analysts expect a signficant downturn in the next few quarters.

Feb 25 – Sherritt International raised the cost estimate for its Ambatovy nickel project in Madagascar by more than $1 billion.

Feb 24 – Lonmin Plc, the world’s third-biggest platinum producer, said to put under care and maintenance the Baobab shaft at its Limpopo mine in South Africa. Said had reached an agreement with unions on up to 5,500 job cuts at Marikana and Limpopo operations.

Feb 23 – Freeport-McMoRan Copper & Gold, which has already cut back production, said it might have to make more cuts if copper prices drop further.

Feb 23 – Noranda Income Fund said to reduce zinc and by-product sulphuric acid production by about 20 percent in March.

Feb 20 – A shareholder of Kazakh mining and metals group ENRC said some of its units had more than halved output. Company produces iron ore, ferro-alloys, alumina, aluminium, chrome and other metals.

Feb 19 – Eramet said has slashed 2009 capital spending target by 54 percent. Has suspended production of high-purity chrome at its Marietta plant in United States. Also planning restructuring measures at SLN nickel unit in New Caledonia. Reiterated targets to reduce nickel and manganese output in coming months.

Feb 19 – Impala Platinum said cutting output by 200,000 ounces in its current financial year and would put off expansion plans.

Feb 19 – Pan American Silver said will suspend operations at Quiruvilca mine in Peru, due to high costs and declining silver production.

Feb 19 – Mozambique’s Mozal aluminium smelter will have to cut staff due to the economic slowdown, BHP Billiton said.

Feb 18 – Vimetco said it cut output by a further 50,000 tonnes per year (tpy) from January at its Chinese aluminium operations.

Feb 18 – Thompson Creek Metals Co Inc said expansion project at Endako molybdenum mine suspended. Also details planned production adjustments at Endako and Thompson Creek mines.

Feb 18 – Norsk Hydro said it did not rule out further production cuts.

Feb 18 – Redcorp Ventures Ltd. said construction activities at Tulsequah Chief polymetallic mine will remain suspended until further notice.

Feb 16 – Norilsk Nickel says suspending production at Black Swan and Lake Johnston nickel mines with immediate effect.

Feb 13 – First Quantum Minerals Ltd says to slash 2009 planned capital expenditure by more than half.

Feb 12 – The Philippines’ Berong Nickel Corp said it has temporarily stopped nickel production.

Feb 11 – Norsk Hydro has decided to begin the shutdown of its Neuss primary aluminium smelter in Germany. The company had already cut output at the plant.

Feb 10 – Germany’s Trimet Aluminium AG said had cut aluminium output by about 30 percent. Cuts spread equally between its 130,000 tonnes per year (tpy) Hamburg smelter and its 170,000 tpy Essen plant.

Feb 11 – Norsk Hydro said it reducing its aluminium production by another 25 percent at its Soeral smelter in Norway, effective March 1.

Feb 9 – Xstrata Plc shelves plans to expand production of rhenium at a project in northern Chile.

Feb 9 – Plans to boost output at the Madneuli Ore Enrichment Plant in Georgia by 35-40 percent this year no longer look realistic because investment plans are on hold, a company official said.

Feb 9 – Xstrata Plc said it will restructure its Sudbury nickel operations in Canada. But output from Sudbury smelter to remain at similar levels to 2008 as shortfalls from Sudbury mines will be offset at other operations.

Feb 9 – Anglo Platinum said it may cut jobs if platinum prices fall further. Flagged up cost pressures as it axed its final dividend.

Feb 6 – Canada’s FNX Mining Co Inc said it plans to cut costs beyond the production cuts and layoffs announced late last year. Company mainly mines nickel and copper in Canada’s Sudbury Basin.

Feb 5 – Russia’s United Company RUSAL said it will cut 11 percent of its annual aluminium output, 30 percent of alumina output and 5 percent of its staff. Italy is seeking to prevent the temporary closure by the firm of an alumina refinery in Sardinia.

Feb 4 – Century Aluminum said it would curtail remaining output at its 170,000 tonnes tpy Ravenswood, West Virginia aluminium smelter by Feb. 20.

Feb 1 – The head of UC RUSAL said world governments discussing ways to help the world aluminium market by reducing capacity.

Jan 31 – Southern Copper Corp said evaluating putting on hold or stopping Tia Maria project in Peru and has delayed spending at Toquepala mine expansion project.

Jan 30 – Boliden said it was cutting copper production at its Swedish and Finnish plants.

Jan 29 – Barrick Gold Ltd has put its Kainantu gold mine in Papua New Guinea on care and maintenance.

Jan 28 – Romanian zinc-lead maker Sometra said it will temporarily halt production.

Jan 27 – Indonesia will cut a target cap on tin production this year to below a planned 100,000 tonnes.

Source : Reuters 2009

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