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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.
Mining and Energy Companies Investment Delay by Global Financial Crisis
The deepening of the global financial crisis and the sharp drop in energy prices have forced companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.
Norway Mining Company Plans Nickel Mine Exploration in Philipines Delay
Norway-based Intex Resources said it had deferred the completion of a definitive feasibility study for its nickel mining project in Mindoro Island, south of Manila, including a $2.9-billion plant, from early next year to the fourth quarter of 2009, citing as reason the global financial crisis.
Xstrata 2006 Net Rises 14 Percent on Metals Prices (Update7)
Xstrata Plc, the world’s fourth- largest copper and nickel producer, said full-year profit rose 14 percent to a record after metal prices surged.
Net income advanced to $1.95 billion on a consolidated basis, or $2.39 a share, from $1.71 billion, or $2.27, a year earlier, the Zug, Switzerland-based company said today in a statement. Profit based [...]
