BASE METALS

A LIGHTER LOAD


Grupo Mexico shares surge on Asarco ruling

Wednesday , 02 Sep 2009
But, now there are other challenges facing the miner as it turns its attention to a two-year-long illegal strike action and, happily stronger copper prices.

POLITICIANS GETTING IN ON THE ACT


Canadian opposition leader calls for Vale to return to Sudbury negotiating table

Tuesday , 01 Sep 2009
Michael Ignatieff also called on the federal government to release details of Vale’s commitments to the Canadian government when it bought Sudbury’s former owner, Inco.

U.S. DISTRICT COURT TO MAKE FINAL DECISION


Bankruptcy judge endorses Grupo Mexico’s Asarco reorganization plan

Tuesday , 01 Sep 2009
Although Sterlite’s proposed plan for the reorganization of bankrupt US copper miner Asarco was overwhelmingly preferred by creditors, a U.S. bankruptcy judge has recommended Asarco be returned to its parent, a Grupo Mexico subsidiary.

STRIKE ACTION


Doe Run Peru protests postponed

Monday , 31 Aug 2009
Low worker turnout forces unions to put off protest planned to pressure government to reopen the plant

ASARCO SAGA


Ruling expected today on Asarco’s fate

Monday , 31 Aug 2009
US Judge expected to rule on whether Indian firm Sterlite or, Grupo Mexico with take control of the bankrupt US miner.

COPPER TO OUTPERFORM IN NEXT 5 YEARS


Elements of Asia-led super-cycle reappearing for base metals–Scotiabank

Friday , 28 Aug 2009
Refined copper consumption has grown by 25% in China during the first half of the year and should increase 20% for the year as a whole.

VITAL FOR CUBAN ECONOMY


2008 hurricane damage still denting Cuban nickel output

Thursday , 27 Aug 2009
According to local media, Cuba, the world’s sixth largest producer is still behind its target of 70,000 tonnes of unrefined nickel and cobalt because of last year’s severe damage inflicted by Hurricane Ike.

VALE STRIKE IMPACT


Xstrata Copper closing Kidd Creek copper smelter and refinery for 7-10 weeks

Thursday , 27 Aug 2009
In part because of a knock-on from the strike at Vale Inco’s Sudbury operations, Xstrata Copper is to shut down its Kidd Creek copper smelter and refinery for up to 10 weeks

OUTLOOK FOR DEMAND AND PRICING IMPROVING


Positive demand for copper boosts Kazakhmys

Thursday , 27 Aug 2009
Major London quoted Kazakh copper miner, Kazakhmys, says annual output will exceed target of 300,000 tonnes as H1 earnings substantially better than expected.

CDN$217M OFFERING


Does equity financing offer mean Thompson Creek Metals is acquisition-minded?

Thursday , 27 Aug 2009
One of North America’s largest molybdenum miner, Thompson Creek, could be shopping for a possible acquisition, Toronto’s Blackmont Resources has suggested.

SUDBURY STRIKE SAGA


Vale to resume production at Sudbury without unions

Wednesday , 26 Aug 2009
The miner is currently training management staff to assist non-union staff run the mine

FIRST-HALF EARNINGS


Copper prices likely to remain volatile for rest of 2009 – Antofagasta

Wednesday , 26 Aug 2009
The Chilean copper miner also announced lower-than-expected first half earnings, revenue down 51% on lower metal prices

UNSOLISITED BID


Canadian Royalties rejects Chinese-led takeover

Wednesday , 26 Aug 2009
The group says the offer from Jilin-Lien Nickel Industry Co doesn’t recognize the “strategic value” of its Nunavik nickel project

CHARIOT ACCUSED OF SPREADING MISINFORMATION


Lundin CEO Wright casts his lot with the boss in Chariot proxy battle

Wednesday , 26 Aug 2009
The war of words continues in the proxy fight between Chariot Resources and its major shareholder Lundin Mining in Lundin’s chairman bid to oust the Chariot board.

COMMENT


Oyu Tolgoi celebrations premature? How safe is western mining investment in Mongolia?

Wednesday , 26 Aug 2009
After five years of wrangling, party politics and ever-changing government policies, one of the world’s largest copper-gold deposits may now be at the threshold of official approval. But where do the Russians and Chinese stand?

OYU TOLGOI IS AWAY


Mongolian Parliment amendments pave way for Oyu Tolgoi development

Tuesday , 25 Aug 2009
The amendment of four laws including the repeal of a windfall tax, paves the way for Ivanhoe and Rio Tinto to develop the Oyu Tolgoi copper-gold complex.

POLITICAL RISK A SIGNIFICANT FACTOR


Copper heading for mid-term deficit. Prices to rise and keep on rising

Tuesday , 25 Aug 2009
The latest VM Group metals report suggests copper is looking at sustained periods of deficit ahead with prices continuing to rise

MISSING ANALYST EXPECTATIONS


Chalco shares drop on bigger than expected quarterly loss

Tuesday , 25 Aug 2009
Analysts were hoping for a loss four times smaller than the one announced by the world’s third-largest producer of alumina; the group hopes to break even by year-end.

STRIKE ACTION


Vale may use non-union workers to restart Sudbury nickel ops

Monday , 24 Aug 2009
After a strike at the miner’s Ontario-based nickel operations enters its sixth week the group is preparing to use non-unionised workers to partially restart its mine; Unions bristled at the suggestion.

‘CANNOT STAND TO MISS ANOTHER OPPORTUNITY’


Lundin seek to oust Chariot Resources board, control Mina Justa development

Friday , 21 Aug 2009
Lundin Mining Chairman Lukas Lundin is leading a shareholder proxy fight to seize control of the Chariot Resources Board, whose actions, Lundin claims, has lead to “a consistent undervaluation of Chariot by the market.”

A GLANCE AT 100 COPPER STOCKS


Dr Copper, can it be presumed?

Thursday , 20 Aug 2009
Be it over seven weeks or 12 months, listed copper stocks have recorded the strongest “bounce” among mining stocks, and the most net-positive portfolio flows.

MANAGEMENT FOCUSED


Albanese confident as Rio Tinto on recovery track

Thursday , 20 Aug 2009
As expected Rio Tinto recorded a substantial fall in H1 revenues and profits compared with a year earlier but looks to be on track for better things ahead.

EARNINGS FALL BY RECORD


Leaner Rio looks forward to the future

Thursday , 20 Aug 2009
Despite a tough 18 months and a record drop in first half profits the world’s second largest miner says it is in a much better position

ASARCO COURTROOM BATTLE


Sterlite ups bid for Asarco once more

Thursday , 20 Aug 2009
The latest offer tops off a string of back and forth bids between the suitors of the bankrupt US copper miner; closing arguments are expected on Friday.

MARKET RECOVERY EXPECTED


Upbeat ENRC looks to China for continued market recovery

Wednesday , 19 Aug 2009
The world’s largest ferrochrome producer said market conditions were improving as it released better than expected interim results.

POLICIES SHOULD RECOGNISE RISK MAGNITUDE


Top African copper producer urged to draw up mining policy to boost investment

Wednesday , 19 Aug 2009
Zambia, which implemented some heavy mining taxes at the height of the commodities boomed, most of which have since been withdrawn, has been urged to set a more investment friendly mining policy.

INVESTOR HUB: Base metals


   

   

   



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SURREPTITIOUS PURCHASES

China’s hidden gold purchase policy

Monday , 07 Sep 2009
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