Alcoa Inc. and Aluminum Corporation of China to Explore Strategic Ventures

Chinalco and Alcoa jointly announced today that the two companies intend to explore opportunities to expand their commercial relationship by identifying strategic ventures that will benefit from the companies’ complementary strengths in bauxite, alumina, aluminum and fabricated products. “Alcoa is a respected leader in our industry and a valuable friend. We intend to grow our friendship and... 

Avanti Mining Announces the NI 43-101 Compliant Molybdenum Resource Estimate on the Past Producing Kitsault Mine, British Columbia

Avanti Mining Inc. (CNQ: AVMI) (“Avanti”) is pleased to announce a Canadian Institute of Mining, Metallurgy and Petroleum (CIM) compliant resource estimate for the Kitsault Molybdenum Mine, located in British Columbia. At a 0.04% Mo cut-off grade, this estimate contains an Indicated Mineral Resource of 158 million tonnes grading 0.10% Mo, containing 348 million pounds of molybdenum, and... 

Shares of several large aluminum producers rise on weak inventories, supply concerns

Shares of several U.S. aluminum producers moved higher Friday as low inventories and tight supply raised prospects for continued price hikes. Barclays Capital said in a research report that demand growth for aluminum, though slower this year than last, has remained robust. Also, consumer inventories of aluminum are at relatively low levels in both the U.S. and China. Barclays further cited such persistent... 

Alcoa Again Named One of the World’s Most Ethical Companies

Alcoa again has been named one of the World’s Most Ethical Companies by Ethisphere, a think-tank dedicated to the research and promotion of profitable best practices in global governance, business ethics, compliance and corporate responsibility. The recipients were announced during the Ethisphere and Forbes joint-conference, “Driving Profit through Ethical Leadership” held yesterday in New York.... 

Shares of Aluminum Producers Mostly Gain As the Price of the Commodity Rises

Shares of most aluminum producers rose Monday as prices for the commodity rose, offsetting a warning from a Deutsche Bank analyst. FBR Capital Markets analyst Amir Arif said in a client note that he is “most concerned about (Pittsburgh-based Alcoa Inc.), not so much on the expected first quarter 2008 results, but on second quarter 2008 outlook being weaker than expected, given our views of weakening... 

Chinese Aluminum Giant Chinalco Says Profit Fell 14 Pct in 2007 on Lower Prices

Aluminum Corp. of China, the country’s biggest aluminum maker, said Tuesday that its net profit fell 13.7 percent in 2007 due to lower product prices. The company, also known as Chinalco, said its 2007 net profit fell to 10.2 billion yuan ($1.4 billion) compared with net profit of 11.8 billion yuan in 2006, it said in an earnings release to the Shanghai Stock Exchange. Prices for Chinalco’s... 

Alcan’s Board Recommends Shareholders Reject Alcoa Offer

Alcan Inc. announced that its Board of Directors unanimously recommends shareholders reject Alcoa Inc.’s (NYSE: AA) unsolicited offer to acquire Alcan. The Board determined that the offer is inadequate in multiple respects and is contrary to the best interests of Alcan’s shareholders. Accordingly, the Board recommends that Alcan shareholders not tender any of their shares to Alcoa. Yves... 

Alcoa Sends Letter to Alcan Board Outlining Commitments to Quebec; Will Meet Requirements of Agreement between Alcan and Quebec Government

Alcoa Inc. announced that it has reviewed Alcan’s continuity agreement with the Government of Quebec which identifies the requirements that Alcoa must meet regarding Alcan’s future operations in the Province in order to maintain certain of Alcan’s hydroelectric and water rights. In a letter to Alcan’s Board of Directors, Alcoa outlined the many ways in which its offer to acquire... 

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Xinfa’s Australian investment hunts more bauxite

Cape Alumina Pty Ltd., part owned by Chinese aluminium group Chiping Xinfa Huayu Alumina Co Ltd., has gained approval to look further afield for bauxite in Australia, underscoring China’s hunger for the raw aluminium-making material outside its borders. Cape Alumina is prospecting in Australia’s bauxite-rich Cape York region, where world No.2 miner Rio Tinto Ltd./Plc. also has mining operations. Australia’s... 

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Testing Taking Place in Productive Gold Producing Green Stone Belt in Suriname

Hemisphere Gold Inc., a gold exploration, property acquisition and mining development company, reported today that its surveys of its concession continue on multiple fronts and that initial results should be ready in the very near future. The surveys and testing are concentrating in specific areas that have been identified through satellite imagery and geologic trends. There is a North-South trend... 

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