August 2009

BHP withdraws from cobalt spot market as Nikkelverk deal ends

BHP Billiton has withdrawn from the cobalt spot market, it confirmed on Thursday, following the end of its tolling agreement with Xstrata at the Nikkelverk refinery

Shanghai copper falls 0.6%

Copper traded on the Shanghai Futures Exchange dip by 0.6% on Thursday with trading volume still falling.

OZ Minerals posts A$581m net loss in H1 2009

OZ Minerals said demand for its copper concentrate is still strong, as it posted a net loss of A$580.7 million ($480 million) for the first half of this year.

Showa Denko stops commodity Al extrusion

Japan's Showa Denko has announced it is to withdraw from the commodity aluminium extrusions business.

Shanghai copper premiums drop to $75

Spot copper premiums in Shanghai fell to $75 per tonne this week, from $90-105 a week ago as Shanghai prices head further below the price of imports, and the domestic market remains in contango.

Corocoro will start copper production on Saturday

Bolivia’s state-owned mining company Comibol will start electrolytic copper production at its Corocoro deposit on Saturday, according to the country’s governmental news agency

(AMM) Sudbury strike forcing Xstrata to close Kidd (UPDATE)

The impact of the six-week-long strike at Vale Inco Ltd.'s Sudbury, Ontario, operations is spreading, with Xstrata Plc saying Wednesday it would close its Kidd Creek copper operations next month.

(AMM) Xstrata to shut Kidd Creek smelting ops as concentrate shortage worsens

Xstrata has announced a temporary shutdown of copper smelting and refining operations at Kidd Creek due to a concentrate shortage from suppliers including the strike-hit Vale Inco operations in Sudbury.

Platinum mine strikes hit South Africa

South Africa has been hit by a wave of strikes, as thousands of platinum miners downed tools over wages, mine officials said

(AMM) Thompson Creek positioned for expansion with offering

Molybdenum producer Thompson Creek Metals Co. Inc. intends to raise up to Canadian $250 million ($227.5 million) to finance the expansion of existing mining assets as well as for exploration activities, acquisitions, working capital and general corporate purposes.