Golden Phoenix Minerals, Inc. announced that in response to the sharp reduction in demand and price for molybdenum worldwide, the Ashdown molybdenum mine in Humboldt County, Nevada has been placed on care and maintenance with a significant reduction in force until further notice.
The Ashdown mine produces molybdenum concentrate which is roasted to the oxide form [...]

Schnitzer Steel Industries, Inc. announced that it has signed a definitive agreement to acquire Ponce Resources of Salinas, Puerto Rico. Ponce is engaged in the business of collecting, processing, and selling ferrous and nonferrous scrap metal and operates at four locations in the Commonwealth of Puerto Rico. The acquisition is expected to close during Schnitzer’s [...]

Cleveland-Cliffs Inc and Alpha Natural Resources, Inc., today reported that on Aug. 22, 2008, the Federal Trade Commission granted them early termination of the waiting period under the Hart-Scott-Rodino Act for their proposed merger. The merger transaction remains subject to additional approvals, including Cleveland-Cliffs shareholder and Alpha stockholder approvals.
Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is [...]

Cleveland-Cliffs Inc and Alpha Natural Resources, Inc. announced that each company’s Board of Directors has approved a definitive merger agreement under which Cleveland-Cliffs will acquire all outstanding shares of Alpha in a cash and stock transaction valued at approximately $10 billion.
Under the terms of the agreement, for each share of Alpha common stock, Alpha [...]

Nickel fell for a second day in London on speculation rising stockpiles signal slowing usage as producers seek alternatives to the metal in stainless-steel manufacturing. Copper also dropped.
Nickel inventories monitored by the London Metal Exchange rose 1,446 metric tons, or 27 percent, to 6,834 tons, the exchange said today in a daily report, the biggest [...]

VentureNet Capital Group, Inc. (VNTN) announced the purchase in the open market of 1,892,000 shares of Cotton & Western Mining, Inc. (CWRN) stock. Cotton & Western is structured to produce and sell iron ore on a global scale. Currently, the company is engaged in mining activities to provide the Asia Pacific steel manufacturing sector with [...]

Puda Coal, Inc., a leading supplier of China’s highest grade metallurgical coking coal — which is used to make coke for steel manufacturing, announced today Q3, Q4 and full year ‘06 revenue guidance.
Puda anticipates third quarter revenue of approximately $38 million, as compared to revenue of $18 million in Q3 ‘05 — a 111% increase.
The [...]