Zinc producer Horsehead Corporation, a wholly owned subsidiary of Horsehead Holding Corp., announced that it will reduce operations at its zinc smelter in Monaca, PA, by idling one of its six furnaces at the facility in an effort to improve profitability.
“The steep decline in the price of zinc on the London Metal Exchange over the [...]
The Australian reported that BHP Billiton is in talks to take up a 25% stake in a A$615million (US$733million) bauxite mine and alumina refinery in India`s eastern Orissa province. The deal would be BHP Billiton`s first project in India.
It also reported that Zinifex Ltd and its Belgian partner Umicore Group are believed to have appointed [...]
High Ridge Resources Inc. announced that its recently incorporated Peruvian subsidiary, “Minera High Ridge Del Peru S.A.C.” has entered into a Memorandum of Understanding (MOU) to acquire an option on certain mineral claims located in central Peru.
The MOU grants Minera High Ridge Del Peru S.A.C.M the right to purchase 100% title to the [...]
Aurelio Resource Corporation (”Aurelio”) (OTCBB: AULO) is pleased to announce that it has completed, pursuant to an agreement entered into with Aurelio Resources Inc. (”ARI”) and its shareholders dated April 27, 2006, the acquisition of all of the issued and outstanding common stock of ARI, a privately-owned Colorado corporation engaged in mineral development, expansion and [...]
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 [...]
US mining giant Phelps Dodge announced a mega-takeover deal to buy Canadian rivals Inco and Falconbridge for about 40 billion dollars, forging the world’s largest nickel company and the largest listed copper producer.
The cash-and-stock deal comes as red-hot commodities prices are producing tonnes of cash, spurring consolidation in the mining sector as companies seek to [...]
