First Nickel aims to use revived Lockerby mine as a launching pad
It’s been a long haul for Toronto-based developer First Nickel (FNI-T) as it strives to revive commercial production at its Lockerby nickel-copper mine outside of Sudbury, Ont.
Volume 98 Number 11 Apr 30 - May 6, 2012
Argentina seizure rattles investors
Argentina’s renationaliztion of 51% of oil company YPF (YPF-N) from the Spanish firm Repsol has spooked some mining investors in the country, though analysts say there is little chance of further nationalization.
Correction
The article “Augusta moves Rosemont forward” (TNM, April 23–29/12) incorrectly stated that Goldman Sachs owns 9.28% of Augusta. In fact, Goodman and Company owns 9% of the company.
Market news
Toronto Stock Exchange
Spot prices
Tuesday, Apr 24, 2012
LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, April 23, 2012 (change from April 16 in brackets):
Tin and silver: The new electric metals
Historic high prices for tin and silver are in the cards between now and 2018 as demand for the two metals in solder used in the electronics industry continues to climb and supply fails to keep pace, Jon Hykawy, head of global research at Byron…
China’s investment in smart grids to benefit copper, aluminum
China plans to increase investment in its power sector by 88% under its 2011–2015 plan, and a significant amount of that will be directed towards smart-grid technology, London-based Barclays analyst Gayle Berry writes in a recent research…
Pretium sees greater high-grade potential at Brucejack
Pretium Resources (PVG-T, PVG-N) has added almost 9 million oz. gold to its high-grade Brucejack resource without any extra information.
Producer and dealer prices
Antimony: Mid-mkt US$13,100.00/t
Editorial: Argentina YPF shocker frazzles foreign miners
When 10,000 British troops tried for a second time in 1807 to invade Buenos Aires after having taken it and lost it the previous year, they were met not only by Spanish troops and irregulars, but also by women throwing roof tiles and pouring…
Commentary: South African mine safety practices face scrutiny
Mine safety is a matter of continuing concern worldwide, there being a wide spectrum of legislation and the manner in which it is administered and enforced. Recent attempts by the South African government provide a case study illustrating the…