Posts by Business Wire Natural Resources News:

Hecla increases revolving credit agreement to $100 million

Hecla Mining Company ("Hecla") HL +3.79% announces that it has reached an agreement with its lenders to increase the amount available under its undrawn secured revolving credit facility to $100 million from $60 million. The amendment is effective immediately and represents a new three-year term on the facility. The financial covenants and interest rate at LIBOR plus 2.75% to 3.5% depending on the leverage ratio of the Company, remain unchanged. The lenders for the credit facility are Scotia Capital and ING Capital LLC.
Business Wire Natural Resources News | October 12, 2011 | 5:49 pm

Alcoa third quarter revenue, earnings higher than year-ago quarter, down sequentially on lower prices and European market weakness

NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE: AA) today reported increased third quarter revenue and earnings compared to the year-ago quarter, but lower results sequentially, primarily due to lower metal prices, seasonal factors and weakness in Europe. Income from continuing operations was $172 million, or $0.15 per share, in third quarter 2011, compared to $61 million, or $0.06 per share, in third quarter 2010 and $326 million, or $0.28 per share, in second quarter 2011. “Aluminum prices fell in the third quarter, but most markets continued to grow,” said Alcoa Chairman and CEO Klaus Kleinfeld.
Business Wire Natural Resources News | October 12, 2011 | 3:54 am

US Silver reports record second quarter

US Silver Corporation announced Monday record second quarter revenues of $30.8 million in the quarter, more than double the amount for the same period in 2010 and an increase of 61% from the first quarter of 2011 while net earnings were $6.5 million in the quarter, compared to $0.6 amount for the same period in 2010. U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho.
Business Wire Natural Resources News | August 15, 2011 | 3:30 pm

Uranium Resources, Inc. provides second quarter 2011 update

Uranium Resources, Inc. (NASDAQ: URRE) (URI), today provided an update on the Company’s activities and its liquidity position for the second quarter of 2011 as well as its strategy and outlook. “The feasibility study is moving along as planned and we are evaluating various scenarios specific to our priority production property, Church Rock Section 8 which has 6.5 million pounds of in-place mineralized uranium material. We are planning on accelerating our engineering activities in order to stay on target.”
Business Wire Natural Resources News | August 15, 2011 | 2:40 pm

Molycorp announces major rare earth supply agreement with Hitachi Metals

Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides (REO) and the largest REO producer outside of China, announced that it has reached an agreement with Hitachi Metals to supply the company with rare earth magnetic materials, including Didymium (a mix of neodymium and praseodymium) metal and alloy, as well as Lanthanum Oxide.
Business Wire Natural Resources News | August 12, 2011 | 7:04 pm

Cloud Peak Energy quarterly profits $94.6 million

Coal producer Cloud Peak Energy on Tuesday reported net income for the second quarter of $94.6 million or $1.56 per share, rising from $15.9 million or $0.51 per share in the year-ago quarter. Revenues for the quarter grew to $387.7 million from $341.6 million in the year-ago quarter. Cloud Peak expects production from the three company-operated mines for 2011 at 93 million to 96 million tons.
Business Wire Natural Resources News | August 2, 2011 | 10:35 pm

Noranda reports second quarter 2011 results

Noranda Aluminum Holding Corporation (NYSE: NOR) today reported results for second quarter and first six months of 2011. “Our upstream integration and continuing focus on growth and productivity enabled us to convert higher second quarter aluminum prices and solid customer demand into sequential and year-over-year improvements in revenue, profitability, and liquidity,” said Layle K. (Kip) Smith, Noranda’s President and Chief Executive Officer.
Business Wire Natural Resources News | July 27, 2011 | 12:33 pm

Molycorp Awards EPC Contract for Chlor-Alkali Facility to KBR

Molycorp, Inc. (NYSE: MCP), the Western hemisphere's only producer of rare earth oxides, today announced the award of an Engineering, Procurement, and Construction (EPC) contract by a wholly owned subsidiary to KBR (NYSE: KBR) to build a Chlor-Alkali plant as part of Molycorp's state-of-the-art, $781 million Project Phoenix expansion and modernization at its flagship rare earth facility at Mountain Pass, Calif.
Business Wire Natural Resources News | July 26, 2011 | 3:01 am