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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36424)	5/1/2009 1:34:37 PM
From: LoneClone	Read Replies (1) \| Respond to of 194001

FACTBOX-Mines and plants hit by low prices, high costs 05.01.09, 09:27 AM EDT forbes.com May 1 (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. April 30 - Hydro Aluminium, the German unit of Norway's Norsk Hydro said it may stop production at its loss-making aluminium smelter at Neuss in Germany in June. April 30 - Eramet's said nickel output would continue to be adjusted in relation to the market surplus and low prices. Also said it would continue to limit capital expenditure. April 30 - Kazakhmys posted a 20 percent fall in Q1 copper cathode output from the previous quarter as part of stated move to cut output this year. Said it suspended output at sections of a fifth mine in addition to four mines previously announced. April 29 - Alcoa Inc said to cut aluminium production at Portland smelter in Australia by a further 38,000 tonnes to 305,000 tonnes per year. April 29 - Belgium's Nyrstar said its zinc output dropped by 30 percent in Q1 2009 from Q4 2008. It said it planned to transform cost structure across the company, resulting in over 50 million euros ($65.1 million) in cost savings per year from 2010. April 28 - Russia's Chelyabinsk Zinc Plant said it produced 36.7 percent less zinc and zinc-based alloy in Q1 2009 than in the same period last year. Production cuts part of company's cost-cutting measures. April 24 - Century Aluminum said it may cut its smelter output further. One official said it may soon decide to close another potline at its Hawesville, Kentucky smelter. April 24 - BHP Billiton said the viability of its Bayside aluminium smelter in South Africa was at risk following a sharp fall in demand for value-added products. April 23 - Mexico's mining chamber said it saw new investments in exploration and expansion projects in the country dropping by 25 percent this year from last year to $2.73 billion. April 23 - Southern Copper said it had further trimmed its 2009 capital and exploration budget to $328 million from $415.3 million. April 22 - Freeport-McMoRan Copper & Gold Inc said its spending plans continue to be reviewed and may be revised based on market conditions. April 22 - BHP Billiton said output from its Escondida copper mine in Chile will fall by 30 percent this fiscal year. Said all its operations would remain under review. April 22 - Indonesian state-owned miner, PT Aneka Tambang Tbk, said its first-quarter ferro-nickel output fell 24 percent from a year ago on slowing demand. April 22 - Indonesian tin production may not reach 90,000 tonnes this year as production adjusts to slowing demand, a director general at the country's energy ministry said. He said Indonesia had initially planned to limit output to 105,000 tonnes. April 21 - China's Yunnan Copper Co Ltd said its production in the first quarter fell 34 percent from a year earlier due to the global financial crisis. April 21 - Russia's United Company RUSAL said it is halfway towards its goal of cutting costs by $1.1 billion in 2009 after reducing them by $554 million in the first quarter. Aluminium production fell 7.2 percent year-on-year in the first quarter. Plans to cut 2009 output by 500,000 tonnes. April 17 - FNX Mining said it is considering suspending its remaining production in Sudbury, Ontario due to Vale Inco's decision to temporarily shut down its operations there. April 16 - Vale said it would delay the start-up of its Onca Puma nickel project in Brazil by at least one year. Previously expected to come on line in January 2010. Company also said it will shut its Sudbury nickel mines and processing plants in Ontario, Canada for eight weeks from June 1. April 14 - Indonesia's PT Timah Tbk said it expected to cut its refined tin output by as much as 8 percent this year. April 13 - Anvil Mining said budgeted capital expenditure for 2009 has been cut to the minimum necessary to sustain the operation of the Kinsevere HMS plant. April 10 - Zambia's Luanshya Copper Mines (LCM) will delay to June a resumption in its operations after some creditors refused to accept only half of the money they are owned by the mine owners, a government minister said. April 9 - Russia's UC RUSAL said it will cut output at its Novokuznetsk smelter from mid-April by a third from 317,000 tonnes produced in 2008. April 9 - Xstrata Plc said it plans to suspend operations at its Sinclair nickel mine in Australia in August if metals prices do not rebound. April 9 - Vedanta said it shut down a part of the BALCO Plant I smelter in India in Q4 due to higher operational costs. April 8 - Greece's Larco said it will cut nickel in ferro-nickel output to between 10,000-12,000 tonnes this year from about 18,500 last year. April 7 - Alcoa expects its Q2 alumina output to decline slightly to match smelter demand. Company projects weak global demand and expects another 1.4 million tonnes of primary aluminium output cuts in coming months. April 7 - Rio Tinto said it will cut bauxite production at its Weipa mine in northeastern Australia by about 23 percent. Also said it would also slow the expansion of the Yarwun alumina refinery in Queensland. April 7 - Tajikistan cut aluminium output by 16.8 percent year-on-year in Q1 2009, a source at the state-owned TALCO aluminium company said. Tajikistan has said it plans to produce 377,000 tonnes this year, down from 399,450 tonnes in 2008. April 2 - Alcoa Inc said it would curtail about 120,000 tonnes per year (tpy) of aluminium smelter output at its Massena, New York operations in May, raising total cuts to the firm's production to over 850,000 tonnes, or 20 percent of annualised output.