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BASE METALS
BASE METALS
WILL LEAVE DECEMBER 15
COO resigns from Teck as debt repayment plans unveiled
Saturday , 22 Nov 2008Teck Cominco's Chief Operating Officer has resigned as the company unveils plans to pay off its Fording Coal purchase debt
US$625M DEAL
HudBay Minerals to buy Lundin Mining in friendly all stock transaction
Friday , 21 Nov 2008Canadians HudBay Minerals and Lundin Mining have agreed to a friendly merger, creating the nation's No. 2 base metals miner.
METALS PRICES UPSWING FROM 2010
Base metal prices to rise on new supply-demand fundamentals
Friday , 21 Nov 2008The VM Group discusses new supply-demand fundamentals for base metals in its latest Fortis Metals Monthly.
REVIEW IN PROCESS
High shutdown costs may keep Century zinc mine open
Friday , 21 Nov 2008World’s second largest zinc mine may not close after all despite losses as shut-down costs may negate cost savings.
UNCERTAIN GLOBAL ECONOMIC OUTLOOK
Bearish Codelco cuts copper premiums to China by 32 percent
Thursday , 20 Nov 2008With Chinese consumers seemingly gloomy on 2009 domestic demand, the world's largest copper miner has cut its term premiums to the Chinese market to $75 a tonne.
YOUR CORRESPONDENT REPORTS
Silence in London, loud in the Congo
Wednesday , 19 Nov 2008Camec declines to comment on the halting of its cobalt-copper operations in the DRC, Camec's only real operating asset.
WEAK METALS MARKETS CITED
Freeport-McMoRan eliminates 600 U.S. copper and moly jobs
Tuesday , 18 Nov 2008Freeport-McMoRan’s aggressive response to poor metals market conditions has resulted in cutbacks at the company’s U.S. copper and molybdenum mines.
GLOOMY OUTOOK BUT STILL PROFITABLE
World's largest zinc producer production falls in 3Q - and more cuts ahead
Tuesday , 18 Nov 2008Nyrstar’s zinc production falls in Q3 and further production cuts in 2009 under consideration.
COPPER PREFERRED BASE METAL
Goldman Sachs JBWere downgrades most commodities price forecasts
Tuesday , 18 Nov 2008Despite a dire outlook for commodities prices, Goldman Sachs JBWere analysts say copper is their preferred base metal because of severe production constraints and the potential for Chinese restocking.
SMALL METAL FALLS HARD
Cobalt's turn to slump
Monday , 17 Nov 2008Like the opaque markets where cobalt trades, there are unconfirmed reports that a major producer has halted production, and is selling from stockpiles.
APEX RETAINS MANAGEMENT
Japan's Sumitomo buying Apex interest in San Cristobal for $22.5 mln
Monday , 17 Nov 2008Looking to the long term, Japan’s Sumitomo is planning to buy out Apex Silver’s 65 percent holding in the San Cristobal silver/lead/zinc mine in Bolivia.
US$2.17B CAPEX
At long last Newfoundland/Labrador gets Vale Inco hydromet nickel plant
Monday , 17 Nov 2008After nearly a decade of negotiations, combined with successful pilot plant testing, Vale Inco announced it would build a long sought-after hydromet plant to process nickel concentrate in southern Newfoundland.
FURTHER INCREASES AHEAD
Copper spot treatment and refining charges on the rise
Friday , 14 Nov 2008As trading houses have been forced to sell copper concentrate stocks due to increased costs for trade finance, Chinese smelters have been increasing their spot TC/RC charges.
WEAKER ZLOTY
Europe's largest copper miner's shares jump as 3Q beats expectations
Friday , 14 Nov 2008Polish copper miner KGHM shares rise 7 percent as although 3Q profits down they still beat market expectations.
TO HELL AND BEYOND
Huge fall in Central African copper/cobalt valuations as risk aversion goes nightmare
Thursday , 13 Nov 2008Copper/cobalt miners in the DRC and Zambia have shed USD 16bn in market value, and are now worth a paltry USD 2.5bn.
COSTS STILL INCREASING
Lower copper price hits First Quantum 3Q earnings despite big output boost
Thursday , 13 Nov 2008Canadian-based African copper miner First Quantum saw a fall in third quarter earnings on higher costs and lower prices despite 43 percent production increase.
PRECARIOUS BALANCE SHEET
TVI Pacific signs offtake deal with MRI for Philippine copper output
Wednesday , 12 Nov 2008TVI has signed a copper concentrate offtake deal with Swiss company MRI trading for all its output from its Canatuan mine which is due on stream this month.
CASHFLOW WILL BE ENHANCED
Mining temporarily suspended at Mexico's Piedras Verdes copper mine
Wednesday , 12 Nov 2008Low copper prices have caused Frontera Copper to suspend mining operations at its flagship Piedras Verdes mine, although leaching operations will be continued.
BY-PRODUCT PRODUCTION MAY BE CURTAILED
Low moly prices delay Climax mine re-opening, and mean cutbacks for Henderson
Tuesday , 11 Nov 2008The precipitous decline in global molybdenum prices from $30/lb to $12/lb in less than a month has prompted the world’s largest moly miner, Freeport-McMoRan Copper & Gold, to cut production.
$10.82 MILLION SPENT
Anglo American to pull out of another Philippines copper/gold project
Tuesday , 11 Nov 2008Manila Mining says mega miner Anglo American will withdraw from the company’s Kalayaan copper/gold project on which it was funding a pre-feasibility study.
DETERIORATING MARKETS
More big cuts in global aluminium production as Alcoa slashes 350,000 tonnes
Tuesday , 11 Nov 2008Alcoa warns waning demand forces it to take 15 pct of capacity offline as LME stockpiles reach 1.55m tonnes.
$600 BILLION ECONOMIC PLAN
Chinese infrastructure spending pledge boosts base metals prices
Monday , 10 Nov 2008Base metals prices have been boosted by China’s $600 billion economic stimulus plan. Nickel rose 13 percent and copper around 10 percent
INFRASTRUCTURE STEEL CONSUMPTION IMPORTANT
Thompson Creek CEO says moly prices near bottom, will rebound in 2009
Monday , 10 Nov 2008Thompson Creek Metals CEO Kevin Loughrey said, that despite a low moly price and the global financial crisis, Thompson Creek is in as good a position as can be under the circumstances.
RUSAL, GAZPROM SIGN AGREEMENTS
Aluminum, gas projects are among planned Russian-Venezuela joint ventures
Monday , 10 Nov 2008Strategic ties between Russia and Venezuelan are being firmed up with agreements for aluminum and gas production, along with other ventures aimed at broadening economic ties between the two nations.
WILL CAREFULLY MANAGE CASH BALANCES
World No. 2 zinc miner reviews operations as metal prices fall
Monday , 10 Nov 2008Oz Minerals wil be carefully reviewing its operations in Australia and Laos in order to maintain its sound financial position despite the huge fall in base metals prices.
RAISING CONCERNS
CBH says at least half world's zinc producers unprofitable as reviews Perilya takeover
Saturday , 08 Nov 2008Australian zinc miner CBH says it is reviewing its plans to take over rival Perilya as global zinc prices remain very depressed.
PURCHASE DENIALS
Valco aluminium smelter sale approved by Ghana parliament - but Vale and Norsk Hydro say no deal
Saturday , 08 Nov 2008A deal by the Ghanaian government to sell 70 percent of its Valco aluminium smelter to Vale and Norsk Hydro approved by Parliament, but the companies named issue denials.
INVESTOR HUB: Base metals
TOP STORIES
WILL LEAVE DECEMBER 15
COO resigns from Teck as debt repayment plans unveiled
Saturday , 22 Nov 2008Teck Cominco's Chief Operating Officer has resigned as the company unveils plans to pay off its Fording Coal purchase debt
FAST NEWS
PREPARED FOR PRICES TO FALL TO $2,800/TONNE
Kazakhmys can cope with low copper prices 
MOLYBDENUM PRICES
Molymet forecasting $10 per lb in 2009
NEW MINE SAFETY LAWS
SA holds CEOs accountable for deaths
WORLD GOLD COUNCIL
Q4 gold demand to stabilise at 843 tonnes
TALKS TO START IN THE NEW YEAR
Southern Copper wants to sell direct to Asia
RIO TINTO’S PLANT IN ANGLESEY, WALES