FACTBOX-Mines and plants hit by low prices, high costs
Fri Jan 16, 2009 3:56pm IST
in.reuters.com
Jan 16 (Reuters) - The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Some existing producers also have shut down or curtailed output at mines and plants as high costs and low prices bite. Below are details of major projects and facilities affected in recent months, as well as other related news.
Jan 16 - Norsk Hydro (NHY.OL: Quote, Profile, Research) will cut primary aluminium output at its Neuss smelter in Germany by 30,000 tonnes by end-January. [ID:nLG679240]
Jan 15 - Alumina Partners of Jamaica, Jamaica's biggest bauxite and alumina producing company, said it will cut production by 50 percent and lay off staff. [ID:nN1E490130]
Jan 15 - Rio Tinto (RIO.L: Quote, Profile, Research) (RIO.AX: Quote, Profile, Research) said had curtailed about five percent of aluminium smelter capacity at end-Q4 2008. Said continued to review production rates at higher cost smelting units, which might lead to further cutbacks.
Jan 14 - Antofagasta Plc (ANTO.L: Quote, Profile, Research) said will close its small Lince copper mine in Chile. [ID:nLE193215]
Jan 14 - Mexican silver miner Fresnillo Plc (FRES.L: Quote, Profile, Research) said it would trim capital expenditure this year by about 8 percent. ID:nLD489404]
Jan 13 - Mitsubishi Materials Corp (5711.T: Quote, Profile, Research) said will cut copper production by 10 percent from February. [ID:nT135361]
Jan 13 - Rio Tinto said has shelved a plan to extend its Northparkes copper mine in Australia as it slashes capital spending. [ID:nSYD378658]
Jan 13 - Oz Minerals Ltd (OZL.AX: Quote, Profile, Research) said it would put the Scuddles mine at its Golden Grove project on care and maintenance, resulting in about a 25,000 tonnes cut in zinc output in 2009. [ID:nSYD374863]
Jan 13 - Xstrata (XTA.L: Quote, Profile, Research) said it is restructuring lead-zinc operations at its Mt Isa mining and processing complex in Queensland, Australia. Handlebar zinc-lead mine also to be mothballed from Feb. 12. [ID:nSYD219008]
Jan 12 - Monterrico Metals (MNA.L: Quote, Profile, Research), a unit of China's Zijin Mining Group Co Ltd (2899.HK: Quote, Profile, Research) said re-evaluating timetable for developing Rio Blanco copper project in Peru. [ID:nN12346783]
Jan 12 - Tajikistan reduced aluminium output 4.7 percent last year and will cut it by 5.0 percent this year. [ID:nLC197455]
Jan 9 - HudBay Minerals Inc (HBM.TO: Quote, Profile, Research) said will suspend operations at Chisel North zinc mine and Snow Lake concentrator in Manitoba. [ID:nN09283643]
Jan 9 - Rio Tinto has all but halted its $2.5 billion expansion of the Kitimat aluminium smelter in British Columbia, union says. [ID:nN09498469]
Jan 9 - China's Shanxi Guanlu 000831.SZ said it was shutting 40,000 tonnes of aluminium capacity. [ID:nHKG101313]
Jan 8 - Teck Cominco Ltd (TCKb.TO: Quote, Profile, Research) said will cut about 1,400 jobs, or 13 percent of its staff, as part of plan to lower costs and keep competitive. [ID:nN08524937]
Jan 8 - South Korea-based LS-Nikko Copper said will cut cathode output about 10 percent. [ID:nSEO72160]
Jan 7 - Aditya Birla Minerals Ltd (ABY.AX: Quote, Profile, Research) places Mt Gordon copper mine in Queensland, Australia on care and maintenance. [ID:nSYD361356]
Jan 7 - Vimetco (VICOq.L: Quote, Profile, Research) said has cut aluminium output in Romania by 44,000 tonnes this year. In November, company said it might cut production there by 65,000 tonnes. [ID:nL7070043]
Jan 6 - Alcoa Inc (AA.N: Quote, Profile, Research) said to cut jobs, halve capital spending and reduce output further to total of 750,000 tonnes on an annualised basis. [ID:nN06444898]
Jan 6 - Volcan (VOL_pb.LM: Quote, Profile, Research) has halted work at its Cerro Pasco zinc mine in Peru, a union official said. [ID:nN06425838]
Jan 6 - Boliden (BOL.ST: Quote, Profile, Research) mulls putting Tara lead-zinc mine in Ireland on care and maintenance, union said. [ID:nL6709343]
Jan 5 - Sumitomo Metal Mining Co Ltd (5713.T: Quote, Profile, Research) said has cut copper output plan by 7 pct for six months to end-March. [ID:nT183576]
Jan 5 - Lead producer Doe Run Co said would cut its mine output to 5 million short tons per year from a planned 6 million with immediate effect. [ID:nN05621899]
Jan 2 - New Gold Inc (NGD.TO: Quote, Profile, Research) suspends mining at Amapari gold mine in Brazil and places on temporary care and maintenance. [ID:nBNG386203]
Dec 30 - Silvercorp Metals Inc (SVM.TO: Quote, Profile, Research) said to temporarily scale down or suspend some production. Delaying exploration programmes. [ID:nWNAB6207]
Dec 26 - Russian holding company Basic Element's En+ Group said does not rule out shutting down Montenegro's KAP aluminium smelter. [ID:nLQ49261] Montenegro's power monoploy later threatened to cut power to the plant Jan. 1 [ID:nLV470665]
Dec 23 - Chelyabinsk Zinc Plant (CHZN.MM: Quote, Profile, Research) revises 2009 output forecast for second time to 100,000-110,000 tonnes. [ID:nLN597666]
Dec 22 - Cross Lake Minerals Ltd (CRN.TO: Quote, Profile, Research) says to temporarily shut its QR gold mine operations once reserves from midwest zone depleted. [ID:nWNAB5358]
Dec 20 - Zambia's Luanshya Copper Mine (LCM) halts operations. [ID:nLK203962]
Dec 19 - Zinc producer Horsehead Holding Corp to cut costs, revises construction plan for new facility. [ID:nWNAB5034]
Dec 19 - Oz Minerals Ltd (OZL.AX: Quote, Profile, Research) suspends operations at small Avebury nickel mine. [ID:nSYD362876]
Dec 19 - Kazakh miner ShalkiyaZinc (SKZq.L: Quote, Profile, Research) shuts down zinc and lead concentrate output until summer 2009. [ID:nLJ519500]
Dec 18 - First Metals Inc (FMA.TO: Quote, Profile, Research) announced wind down of production at Fabie copper mine in Quebec. [ID:nWNAB4557]
Dec 17 - Anglo American Plc (AAL.L: Quote, Profile, Research) to cut 2009 capital spending by more than half. Expansion of Los Bronces copper mine to be delayed by eight months. [ID:nLG223727]
Dec 17 - Century Aluminum Co (CENX.O: Quote, Profile, Research) says will begin immediately to curtail one potline at Ravenswood, West Virginia aluminium smelter. [nN17345102]
Dec 17 - Alberta Star Development (ASX.V: Quote, Profile, Research) says plans to delay its 2009 exploration programme.
Dec 16 - Penoles (PENOLES.MX: Quote, Profile, Research) may delay a planned 48 percent expansion of its main zinc refinery. [ID:nN16257407] |
