December 2008

(AMM) Ivanhoe to buy SouthGobi's Mongolian metals projects

SouthGobi Energy Resources Ltd., Vancouver, British Columbia, has sold its metals division to Ivanhoe Mines Ltd. for $3 million.

(AMM) TK Stainless details sales team for Ala. mill

With production slated to begin in less than two years, ThyssenKrupp Stainless USA LLC, Mobile, Ala., has organized the team that will sell and market the product manufactured at its new mill.

(AMM) ATI layoffs hit 209 at Pa. stainless plant

Allegheny Technologies Inc. (ATI), Pittsburgh, has laid off 209 workers at its Midland, Pa., stainless steel production plant as part of a plan to reduce its work force by 20 percent in response to a lack of steel orders.

(AMM) SMP taps Schmitt for executive sales post

Specialty Metals Processing Inc. (SMP), Stow, Ohio, has named Thomas R. Schmitt vice president of sales.

LME nickel strengthens ahead of index reweighting

Nickel strengthened in official trading on the London Metal Exchange on Wednesday on renewed buying ahead of index reweighting in January

LME nickel boosted by year-end buying in pre-market

Nickel rose above $11,000 per tonne for the first time in six weeks in pre-market trading on the London Metal Exchange on Wednesday with an increase in buying ahead of index reweighting in January

Iran holds groundbreaking ceremony at site of two new plants

Construction of an alloy steelmaking plant and a ferro-alloy producing plant has begun in the northwest of Iran

(AMM) Codelco sells Pecobre interest

Chile's state-owned Codelco has sold its $5-million stake in Minera Pecobre SA de CV to Mexico's Industrias Penoles SA de CV.

(AMM) Amerigo cuts costs in bid to weather financial storm

Recoiling from collapsing metal prices and a brutal third quarter, Amerigo Resources Ltd., Vancouver, British Columbia, has taken a number of steps to secure capital and reduce costs in the upcoming year that the junior miner hopes will keep it afloat in an increasingly dismal economic environment.

(AMM) Sandvik to alter surcharge model

Sandvik Materials Technology, Sandviken, Sweden, will modify its alloy surcharge model for seamless tubular products starting Jan. 1 in a bid to reduce time lags.