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BHP Billiton Will Cut Iron Ore Production 25% on Demand
BHP Billiton Ltd., the world’s largest mining company, may need to cut iron ore production by about a quarter next year as a slump in global steel output curbs demand for the raw material, Merrill Lynch & Co. said.
BHP, the world’s third-biggest iron ore producer, may curb output from mines in Western Australia by [...]
Sale Earnings Of Mine Nickel Norilsk Nickel’s Declines
Norilsk Nickel’s net profit fell by one-third in the first half of the year as the world’s largest nickel miner succumbed to rampant inflation in Russia and a 40 percent decline in the price of the metal.
Norilsk’s stock on the MICEX fell 17.7 percent Friday, falling further than the 6.1 percent decline on the MICEX [...]
Mozambique Reports Mining Exploration and Mining Industry Sector Q3 2008
The mining industry of Mozambique is forecast to log an average growth of 9.2% during 2008-2012 and be valued at US$0.38bn in 2012.
The outlook for Mozambique’s mining sector remains bright, with the national director of Mining Resources, Fatima Momade, stating that the mining and oil sectors should be the primary drivers behind GDP growth hitting [...]
Uranium wins more fans as an investment
Uranium rose for a third consecutive week on Friday as speculators rekindled their interest in the raw material for nuclear reactor fuel, said TradeTech, a publisher of price assessments.
The price for immediate delivery rose $4, or 5 percent, to $84 a pound, TradeTech said in a weekly report. The equivalent of at least 350,000 pounds [...]
Delta Petroleum Lowers 2007 Drilling Budget
Delta Petroleum provided the following update regarding its production, drilling and other operating activities.
Operations Update
Development Projects: Vega Unit and North Vega, Piceance Basin, CO, Avg. 50 – 100% WI – The Company continues to develop the Vega Unit area with four DHS drilling rigs — two rigs in the Vega Unit and two additional rigs [...]
GobiMin report financial and operating results first quarter of 2007
Financial Summary Quarter ended Quarter ended
[...]
Nickel Rises to 19-Year High on Shortfall; Aluminum, Lead Gain
Nickel advanced to the highest level since at least 1987 as dwindling supply created a shortfall of the metal used in stainless-steel production. Lead rose to a record and aluminum advanced to a six-month high.
Nickel stockpiles monitored by the London Metal Exchange gained 2 percent to 6,336 metric tons, according to the exchange’s daily report. [...]
Nickel Rises to 19-Year High on Shortfall; Aluminum, Lead Gain
Nickel advanced to the highest level since at least 1987 as dwindling supply created a shortfall of the metal used in stainless-steel production. Lead rose to a record and aluminum advanced to a six-month high.
Nickel stockpiles monitored by the London Metal Exchange gained 2 percent to 6,336 metric tons, according to the exchange’s daily report. [...]
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 [...]
