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Latest Stories

Manitoba nickel mine to restart in April

Vancouver-based Crowflight Minerals (TSX: CML) says it will resume operations at its Bucko Lake Mine in April. The company expects to mine 220,000 tonnes of ore in 2011, with the goal of producing about five million pounds of nickel. With nickel trading at $12 a pound, the operation would yield a $20 million cash flow in 2011, Crowflight stated in a news release Wednesday.

General Director of MMC Norilsk Nickel meets South African President

Vladimir Strzhalkovsky, the General Director and Chairman of the Management Board of MMC Norilsk Nickel (the Company) met with the President of the Republic of South Africa Jakob Zuma in RSA. The meeting was held as part of the General Director's business visit to the Republic of South Africa. The parties discussed further development of the Company's projects in RSA.

Vale’s future depends on execution of capex spending plan – Morgan Stanley

The ability of mining giant Vale (VALE.N: Quote) to execute on its capital spending plans will be paramount for its stock to rise, according to a Morgan Stanley report on Monday. Analysts Carlos de Alba and Bruno Montanari said that Peru's Bayovar, Vale's first greenfield project outside Brazil, "offers a good example that the company can deliver."

Brazilian media reports Vale CEO ousted

Brazilian mining company Vale has pushed out Chief Executive Roger Agnelli under heavy government pressure and is in discussions to replace him with an executive from within, local media reported on Sunday. President Dilma Rousseff has used the government's influence as a key Vale (VALE5.SA: Quote) shareholder to insist the company remove Agnelli following years of accusations it was not doing enough to bolster Brazil's economic development.

China to increase rare earth tax from April – Xinhua

China will increase a tax on rare earths from April 1, the official Xinhua News Agency said on Thursday. The State Administration of Taxation website carried a local media report, saying the resource tax would be raised to 30-60 yuan per tonne, depending on the type of rare earth mineral, a substantial increase from the current level of 0.5-3 yuan per tonne.

Rusal suffers further rebuff as court rejects injunction request

Moscow - OJSC MMC Norilsk Nickel (the Company) announces today that RUSAL has once again failed gain an injunction through court. The Krasnoyarsk Territory arbitration court has rejected the request for an injunction in a lawsuit brought by RUSAL against OJSC MMC Norilsk Nickel. The suit challenged the divestment of the OGK-3 generating company for a stake in Inter RAO.

Chinese rare earth exports burst through 100,000 tonne mark in Feb

China's exports of rare earth metals burst through the $100,000-per-tonne mark for the first time in February, up almost ninefold from a year before, while the volume of trade stayed far below historical averages. China's squeeze on rare earths, which are used in a wide range of hardware including precision-guided weapons, hybrid car batteries and iPads, has forced prices up dramatically since July last year, when each tonne fetched a mere $14,405 on average.

NWTT Acquires New Mining Property With Historically Confirmed Findings of Platinum, Copper and Nickel

NW Tech Capital Inc. (PINK SHEETS:NWTT) has executed an option agreement that grants the company 100% interest in a prolific platinum, copper and nickel-bearing property located in McConkey Township, Ontario. After successfully completing the negotiation process, management decided to enter into an agreement that gives the company unrestricted rights to explore resources and reserves on what is known as the Caribou Property.