October 2012

Ambatovy produced 2,370 tonnes of Ni, 165 tonnes of Co in Q3

Ambatovy produced 2,370 tonnes of nickel and 165 tonnes of cobalt in the third quarter of 2012 including test production, jv partner Sherritt announced on Wednesday October 31 as it released its third quarter results.

CLOSE TO CLOSE: Base metals prices edge up as NYSE reopens

Lead prices recorded further gains during the kerb session on the London Metal Exchange on Wednesday October 31, and other base metals prices also strengthened as the New York Stock Exchange reopened following Hurricane Sandy.

Nyrstar shares drop 5% on rumours of Glencore’s exit from sales agreement

Nyrstar shares dropped more than 5% in Brussels on Wednesday October 31, following reports that Glencore has offered to terminate its long-term marketing agreement with the zinc producer in order to clear its proposed merger with Xstrata with European regulators.

MEIR ON METALS: US markets dig out of a mess, metals quietly higher

Analyst Ed Meir looks at what is moving the metal markets on Wednesday October 31.

Antofagasta copper production up 11.5% year-on-year on Esperanza optimisation

Antofagasta’s copper production increased by 11.5% year-on-year in the nine months to September 30, as throughput improved at Esperanza, the London-listed miner said on Wednesday October 31.

DRC wants 35% free carry equity in mining projects

The Democratic Republic of Congo (DRC) has officially confirmed that it wants 35% free carry equity in mining projects under its revised mining code.

LME OFFICIALS: Base metals prices steady on positive Asian news, US storm

Base metals prices were relatively steady during the official session on the London Metal Exchange on Wednesday October 31, as reports emerged that economies in Asia are showing signs of improvement.

Glencore proposes Xstrata deal changes to EU’s competition regulator

Glencore proposed a deal to the European Commission’s competition directorate general on Tuesday October 30, which would allow its merger with Xstrata to go forward, EU competition spokesperson Antoine Colombani told Metal Bulletin.

ASIAN BAUXITE & ALUMINA: Time is right to accelerate alumina plant construction – Antam

It is the right time for Indonesia’s largest bauxite miner – PT Antam – to accelerate the development of processing plants for alumina, in light of the upcoming mineral export ban in 2014, a company official said.

Chalco losses continue in Q3 on lower prices, increased costs

Aluminium Corp of China (Chalco), the country’s largest producer of the light metal, continued to be loss-making in the third quarter of 2012, on lower metals prices and rising costs.