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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.
OZ Minerals Scramble To Refinace, 1200 Mine Worker Job Losses
Melbourne-based OZ Minerals will today detail 1200 job losses for staff and contractors at its Australian, Indonesian and Laotian operations, while Swiss-based Xstrata has decided to bite the debt bullet and pull in $US5.9 billion ($A8.8 billion) from a heavily discounted 2-for-1 rights issue.
Mining Companies To Pay Royalties Hard-Rock Mineral-Extraction
A 137-year-old exemption that allows companies to extract hard-rock minerals from public lands without paying royalties could cost the nation $1.6 billion during the next decade, says a new report by the Pew Campaign for Responsible Mining.
Mining Exploration Result Demand Slowdown, Nickel, Zinc, Copper Fall as Slumping Demand Boosts Inventories
Nickel, zinc and copper fell as a global economic slowdown weakened demand for industrial metals used in manufacturing and construction.
600 mining jobs decided to close in Namibia
Mineworkers Union of Namibia representatives are scheduled to meet with the management of Weatherly Mining Namibia today in an effort to save at least some of the more than 600 mining jobs that are on the line after Weatherly decided to close its last two copper mines in Namibia.
Mining Companies Not Yet Operation global metal low prices
Listed mining companies that have yet to start operations posted bigger net losses in the third quarter, while those that have established mine sites suffered from low global metal prices, disclosures to the stock exchange showed.
Net losses of Lepanto Consolidated Mining Co. went up by more than a quarter to P111.6 million due to higher [...]
NovaGold Second Quarter Financial Results and Project Update
NovaGold Resources Inc.today announced its financial and operating results for the three months ended May 31, 2007, along with an update on the Company’s project development activities. Details of the Company’s financial results are described in the unaudited consolidated financial statements and Management’s Discussion and Analysis which, together with further details on each of the [...]
Rio Tinto makes a recommended all cash offer for Alcan
Rio Tinto and Alcan today announced they have reached an agreement for Rio
Tinto to make an offer to acquire all of Alcan’s outstanding common shares for US$101 per common share in a recommended, all cash transaction. The offer represents a total equity consideration for Alcan of approximately US$38.1 billion.
The offer represents a premium of 65.5 [...]
Rio Narcea Recommends Acceptance of Amended Offer From Lundin Mining Corporation
Rio Narcea Gold Mines, Ltd. (”Rio Narcea” or “the Company”) today announced that the Board of Directors of Rio Narcea has considered the Notice of Variation and Extension dated June 29, 2007 (the “Amended Offer”), by Lundin Mining Corporation (”Lundin”) in connection with the offer dated April 20, 2007, as amended. Under the Amended Offer, [...]
