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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.
Copper Climbs on Signs of Increased Demand Mine Result in China
Copper rose for a second day in London on speculation that demand for the metal will strengthen in China, the world’s largest user. Lead jumped 10 percent.
China’s copper imports rose 29 percent in September, the country’s customs office said yesterday. Merrill Lynch & Co. forecasts China’s copper demand will increase 9 percent next year from [...]
Rusian Mining Exploration Company, Russia’s Norilsk Nickel Stretches From Arctic to SA, US to Australia
In July 2007, a Canada-domiciled mining company was acquired by a Russian group for $5,2-billion. That company was LionOre, and it had assets in Southern Africa – an 85% share in Tati Nickel, in Botswana, and a 50% stake in Nkomati Nickel, in South Africa.
LionOre’s buyer was the giant Russian mining and metallurgical group, OJSC [...]
U.K. Mining Stocks Decline, Led by BHP, Rio; HSBC, IMI Advance
U.K. mining stocks dropped, led by Rio Tinto Group and BHP Billiton Ltd. on concern that a slowdown in economic growth in the U.S. may damp demand for commodities.
HSBC Holdings Plc, Europe’s biggest bank, led advancing shares after its Chinese partner Bank of Communications Ltd. said HSBC plans to increase its stake. IMI Plc, the [...]
CHILE: Aymaras Vow Mining Co. Will Restore Wetland
The Aymara community of Cancosa on the Chilean Altiplano region of Tarapacá, bordering Bolivia, will spare no effort in its struggle to rehabilitate a wetland dried out by the Cerro Colorado Mining Company (CMCC), an affiliate of the Anglo-Australian BHP Billiton company.
Antonio Mamani, a Cancosa leader, utters an involuntary groan at the sight of the [...]
ThyssenKrupp May Buy Less Nickel as Price Increases (Update3)
ThyssenKrupp AG, the world’s biggest stainless steelmaker, may reduce nickel purchases to cut costs as prices of the raw material rise to record highs.
The company’s may increase output of nickel-free stainless steel to 35 percent of total production from 30 percent, Jurgen H. Fechter, chief executive of ThyssenKrupp’s stainless steel division, said in an interview [...]
LNG adds partner
Gulf Coast LNG Partners, L.P. (GCLP) announced Friday that it is has executed a Memorandum of Understanding (MOU) for the consortium of KOGAS, LG International, and Houston based EMS Group (Port Lavaca LNG Services, LLC) to be the operator for the Calhoun LNG Terminal. The consortium has also agreed to participate as an equity owner [...]
Canadian Stocks Fall as Crude Oil Prices Slide; Encana Retreats
Canadian stocks retreated for the first time in five days, as falling oil prices signaled that profits at energy companies such as EnCana Corp. may decline in the event that demand drops.
There’s hesitation on commodity prices — no one has a handle on where they are going, and they may be subject to further weakness,” [...]
Investors Eye Upcoming Economic Data
Investors will begin the second week of the year hoping for more clarity about the direction of the economy, and in turn, the markets, after Wall Street’s lackluster start to 2007.
A steady feed of economic data and a trickle of big earnings in the coming week might help the market find balance and pick a [...]
