Companhia Vale do Rio Doce, the Brazilian mining company, joined the bidding for Inco, the Canadian nickel producer, on Friday with an offer of 19.9 billion Canadian dollars ($17.7 billion) in cash.
Seeking to trump two bids already made by suitors in the United States and Canada, the Brazilian company, known as CVRD, said the acquisition [...]
Nickel producer Falconbridge Ltd. (TSX:FAL) plans to expand its Raglan mine in northern Quebec with an investment of more than $500 million over the next several years, the company announced Wednesday.
The expansion will create about 50 new jobs as the miner launches two key studies to develop new reserves to replace ore mined since the [...]
Nickel futures rose 6.6 percent on Friday to touch $26,000 a tonne, supported by sharp gains in copper as threats to the supply of both metals lifted prices. At 1500 GMT nickel was quoted at $25,950/26,250 versus $24,400 at Thursday’s London Metal Exchange (LME) close. Nickel hit a record $26,850 in July. Copper earlier spiked [...]
Inco Ltd., a nickel miner seeking to convince shareholders of Falconbridge Ltd. to accept its takeover offer, said second-half earnings will more than double from the first half because metal prices will remain high.
Profit excluding some items will be about $1.42 billion, or $6.17 a share, in the second half, assuming nickel prices of $12.01 [...]
Nuinsco Resources Limited (TSX:NWI.TO - News) (”Nuinsco” or the “Company”) today provided an update of recent developments and ongoing activities at its three advanced nickel projects in northern Manitoba and northwestern Quebec. Highlights include:
* Minago: Scoping study on track for completion in September.
* Lac Rocher: Drill program in progress, resource estimate expected in early Q4.
* [...]
New Caledonia’s Kanak Rheebu Nuu group has issued an ultimatum demanding that all construction work on the Goro nickel project stop before September the 24th.
The ultimatum was issued by the group’s leaders, Andre Vama and Raphael Mapou, and communicated at a news conference in Noumea.
Mr Mapou says they have been manipulated by the Goro parent [...]
PHELPS Dodge has sweetened its offer for nickel mining rivals Inco and Falconbridge by $C2.75 ($3.24), hoping to thwart an increased hostile bid for Falconbridge by Switzerland’s Xstrata.
In turn, Inco raised its bid for Falconbridge by $C1 a share on Sunday and, in an attempt to dissuade shareholders from accepting Xstrata’s offer, Falconbridge’s board said [...]
CROWFLIGHT MINERALS INC. (TSX VENTURE:CML) is pleased to announce results of an additional four holes from its planned 10 hole, Phase 1 resource in-fill surface diamond drill program. The program is focused on expanding the Indicated Resources in the Bucko Nickel Deposit, Thompson Nickel Belt (”TNB”), Manitoba. The in-fill program is part of Crowflight’s Bankable [...]
Phelps Dodge has raised its bid for Inco, and Inco has raised its offer for Falconbridge, as the companies battle to protect their proposed $41 billion three-way merger and create the biggest mining company in North America.
The moves, announced Sunday, are aimed at thwarting a hostile offer from the Swiss-based Xstrata for Falconbridge and a [...]
Four years after the leaders of the world’s eight largest economies vowed to raise $20 billion over 10 years to prevent terrorists from obtaining nuclear materials, only $3.5 billion has been donated — and far less has been used to secure enriched uranium, the key ingredient of a nuclear weapon.
Phelps Dodge, the Phoenix-based mining [...]
