Quadra FNX announces a 9% increase in Q3 2011 copper production

Quadra FNX Mining Ltd. ("Quadra FNX" or the "Company") (TSX:QUX) announces that consolidated payable production for the three months ended September 30 increased 9% compared to Q2 2011 and 30% compared to Q1 2011 and totaled 60 million pounds of copper, 26 thousand ounces of total precious metals ("TPMs") and 3 million pounds of nickel. Paul Blythe, President & CEO comments; "This is our strongest quarter since 2009, driven by Robinson and continuing strong performance from our Sudbury operations. We are seeing continuing and significant improvements in production at Robinson. The various measures that we have taken are delivering increased flexibility and productivity.

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Marketwire - Mining and Metals | October 14, 2011 | 11:05 am

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.

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Business Wire Natural Resources News | October 12, 2011 | 3:54 am

Investors dump Talvivarra after CEO resigns

Talvivarra Mining (LON:TALV) got massacred on the markets today on news that its CEO, Pekka Perä, has resigned. The London-listed Finnish base metal miner shed 55.83 pence to close at 198.66p — a 21.67% drop. It is clear that investors saw the departure of Perä — the driving force behind the company and its largest shareholder, owning 23% of the stock — as a major negative, says an analyst quoted in The Daily Telegraph:

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Andrew Topf | October 7, 2011 | 8:07 pm

Selling to the rich? Look to the US not China or India

A new report from research firm TNS could have implications for mining. A survey of affluent households around the world — defined as greater than $100,000 — found that 80% of the world's wealthy live in Western countries.TNS's Global Affluenty Investor study conducted interviews across 24 markets including China, Brazil and India.

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Andrew Topf | October 7, 2011 | 5:28 pm

Zambia lifts metal export ban

Reuters reports Zambia has lifted a ban on metal exports just two days after imposing it to sort out revenue collection and increase transparency in Africa's top copper producer, a minerals ministry official said on Thursday. It's good news for the Zambian mining sector – a lengthy suspension could have further pressured mines already dealing with volatile metal prices in recent weeks. Newly elected President Michael Sata has been concerned – analysts say with good reason – about copper exporters misreporting the amount of ore leaving Zambia, and earlier this week suspended export permits, to put new guidelines in place. Cobalt, gold and nickel also fell under the ban and now all export payments need to be routed via the central bank.

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Frik Els | October 6, 2011 | 1:47 pm

Rarest rare earths will stay in short supply

Despite worldwide efforts to reduce the consumption of rare earth elements, researcher IMARC Group expects strategies like substitution and recycling to have a little effect on demand for erbium, dysprosium, terbium, neodymium and europium in the short term.

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Frik Els | October 5, 2011 | 9:34 pm

North American Palladium to expand flagship Ontario mine

Canada's North American Palladium said it plans to expand its flagship mine in Northern Ontario at a cost of around $75 million for the first phase of the project. Phase 1 of the Lac des Iles expansion should be completed in the fourth quarter of next year when the shaft will begin operating at a rate of 3,500 tonnes per day. The mine is located northwest of the city of Thunder Bay, and its primary deposits are palladium with some platinum, gold, nickel, and copper by-products. The company, which also operates two gold mines in Quebec, received a bump at the opening of trade in New York with the stock up 3.3% in a softer broader market.

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Frik Els | October 5, 2011 | 2:09 pm