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Several Mining Companies Hold Plans New Mines Onstream
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.
Sumitomo Metal Mining Company Signed Contract With BHP and Freeport Copper Mine Processing Fees
Reuters reported that Sumitomo Metal Mining Company Limited has settled its 2009 copper processing fees at USD 75 per tonne and 7.5 cents per pound with both BHP Billiton and Freeport McMoran Copper & Gold.
Copper Mine Prices Slump, Freeport-McMoRan Copper & Gold Inc. Into Worst This Year
Freeport-McMoRan Copper & Gold Inc., the best-performing stock among North American mining companies in 2007, turned into the worst this year. Analysts say the company may not fare much better in 2009 as copper prices slump.
Mining Companies Can’t Stop Mine Production as Demand Global Industy Growth
The world’s biggest mining companies are cutting expansion plans by about $200 billion as prices of metals, demand from factories and funding for projects collapse.
Mining Exploration Project, Production and Finance in World Trade and Market
LONDON (Dow Jones)
- United Company Rusal is to increase the level of aluminum production it cuts to 4% of its total global output, or around 168,000 metric tons a year, a company spokeswoman told Dow Jones Newswires Monday.
Cameco Corp. and Japan’s Mitsubishi Corp Sign Agreement Acquire Mine Exploration Project in Western Australia
Canada’s Cameco Corp and Japan’s Mitsubishi Corp said on Thursday they will jointly acquire Kintyre uranium exploration project in Western Australia from Rio Tinto Ltd for $495 million.
Cameco will take a 70 percent interest in the project for $346.5 million while the Japanese trading house will acquire the remaining stake through its Sydney-based [...]
Mindoro Resources Ltd.: Further Positive Drill Results From Agata Nickel Laterite
Mindoro Resources Ltd. is pleased to report results from a further eleven drill holes on two drill cross sections on the Agata nickel laterite project. The limonite horizon on the two sections, 100 meters apart, averages 1.15 percent nickel and 44.77 percent iron over an average thickness of 6.63 meters. These grades exceed current requirements [...]
Mindoro Resources Ltd.: Update From Agata Nickel Laterite Project
Mindoro Resources Ltd. is pleased to provide an update from the Agata nickel laterite project, where five coring drill rigs are in operation. Both limonite and saprolite horizons of the laterite are substantially thicker than anticipated, not only increasing tonnage potential, but also expanding market potential for the higher-value nickel material in the saprolite [...]
Gold Rush Plunges Undersea as Miners Scour Pacific (Correct)
(Corrects company in 10th paragraph whose shares declined.)
David Heydon says the rock he dredged from a mile beneath the sea off Papua New Guinea looked like nothing more than a dull-brown fire hydrant. Inside were veins of copper and gold worth $300.
Two companies exploring the South Pacific seas with new remote-controlled robots are betting rocks [...]
