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Oxus Gold Share News (OXS)
Share News for Oxus Gold (OXS)
| Share Price: 2.05 | Bid: 1.90 | Ask: 2.20 | Change: 0.00 (0.00%) |  | ||||||
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FACTBOX-Mines and plants hit by low prices, high costs
Wed, 3rd Jun 2009 10:57
June 3 (Reuters) - The global financial crisis and sharp falls in metals prices have forced se
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.
June 2 - Century Aluminum said it has delayed repairing damaged pots at its Hawesville, Kentucky primary aluminium smelter in order to manage production in the economic downturn.
June 2 - Doe Run Peru said it will halt all operations at its La Oroya polymetallic smelter because financial and environmental setbacks have prevented it from buying concentrates.
May 28 - Australian mining industry capital spending fell 1.2 percent between the December and March quarters to A$8.5 billion, the nation's official statistics bureau said.
May 26 - PT International Nickel Indonesia has revised down its capital expenditure budget for this year by more than a quarter. Inco, in which Brazil's Vale Inco Ltd has a 61.2 percent stake, said it has revised down its spending for this year to $166.4 million from $228.8 million initially planned in February.
May 22 - BHP Billiton Ltd said it expected to finish considering options for the fate of its 76,000 tpy Yabulu nickel refinery by mid-year.
May 20 - Alcoa Inc has reduced primary aluminium production at its three smelters in Spain by some 18 percent in line with global cutbacks announced already by the company.
May 13 - Denison Mines Corp said development of the Midwest uranium project has been postponed.
May 12 - BHP Billiton said it plans to stop mining at the Rocky's Reward open-pit mine at the Leinster Nickel Operation in Australia in response to falling prices for the metal.
May 11 - Aluminium Bahrain (Alba) said it has put plans to boost its production capacity to 1.2 million tonnes per year on hold.
May 11 - The future of an aluminium smelter project at Saudi Arabia's King Abdullah Economic City is 'uncertain' in the current economic climate, an executive of state-owned smelter Dubai Aluminium Co (Dubal) said.
May 11 - Dubal said it expects Q2 aluminium sales to fall 20 percent from a year earlier.
May 10 - Oman's Sohar Aluminium, part-owned by Rio Tinto , said it has put the second phase of its plant on hold.
May 8 - PT International Nickel Indonesia has asked the government for more time to assess plans for a new 20,000-30,000 tonnes per year (tpy) plant after a study showed the project may not be feasible.
May 7 - Breakwater Resources said if base metals prices return to late 2008/early 2009 lows they may cut mill throughput and mine only gold-bearing deposits for the rest of 2009 at Toqui zinc-lead-gold mine in Chile.
May 7 - Vedanta Resources said plans to cut costs in Zambia copper operations further to 125 cents per lb by end of fiscal year.
May 6 - Noranda Aluminum Holding Corporation said annual production rate of smelter-grade alumina at Gramercy refinery in the United States halved to 500,000 tonnes per year (tpy). Continues to evaluate options to cut purchase cost of alumina, including assessing the curtailment of Gramercy.
May 5 - Suriname Aluminium Company LLD (Suralco) said it would cut about 40 percent, or 870,000 tonnes per year (tpy) of production at its Paranam alumina refinery. Suralco is part of the Alcoa World Alumina and Chemicals group.
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.
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
June 3 (Reuters) - The global financial crisis and sharp falls in metals prices have forced se
veral 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.
June 2 - Century Aluminum said it has delayed repairing damaged pots at its Hawesville, Kentucky primary aluminium smelter in order to manage production in the economic downturn.
June 2 - Doe Run Peru said it will halt all operations at its La Oroya polymetallic smelter because financial and environmental setbacks have prevented it from buying concentrates.
May 28 - Australian mining industry capital spending fell 1.2 percent between the December and March quarters to A$8.5 billion, the nation's official statistics bureau said.
May 26 - PT International Nickel Indonesia has revised down its capital expenditure budget for this year by more than a quarter. Inco, in which Brazil's Vale Inco Ltd has a 61.2 percent stake, said it has revised down its spending for this year to $166.4 million from $228.8 million initially planned in February.
May 22 - BHP Billiton Ltd said it expected to finish considering options for the fate of its 76,000 tpy Yabulu nickel refinery by mid-year.
May 20 - Alcoa Inc has reduced primary aluminium production at its three smelters in Spain by some 18 percent in line with global cutbacks announced already by the company.
May 13 - Denison Mines Corp said development of the Midwest uranium project has been postponed.
May 12 - BHP Billiton said it plans to stop mining at the Rocky's Reward open-pit mine at the Leinster Nickel Operation in Australia in response to falling prices for the metal.
May 11 - Aluminium Bahrain (Alba) said it has put plans to boost its production capacity to 1.2 million tonnes per year on hold.
May 11 - The future of an aluminium smelter project at Saudi Arabia's King Abdullah Economic City is 'uncertain' in the current economic climate, an executive of state-owned smelter Dubai Aluminium Co (Dubal) said.
May 11 - Dubal said it expects Q2 aluminium sales to fall 20 percent from a year earlier.
May 10 - Oman's Sohar Aluminium, part-owned by Rio Tinto , said it has put the second phase of its plant on hold.
May 8 - PT International Nickel Indonesia has asked the government for more time to assess plans for a new 20,000-30,000 tonnes per year (tpy) plant after a study showed the project may not be feasible.
May 7 - Breakwater Resources said if base metals prices return to late 2008/early 2009 lows they may cut mill throughput and mine only gold-bearing deposits for the rest of 2009 at Toqui zinc-lead-gold mine in Chile.
May 7 - Vedanta Resources said plans to cut costs in Zambia copper operations further to 125 cents per lb by end of fiscal year.
May 6 - Noranda Aluminum Holding Corporation said annual production rate of smelter-grade alumina at Gramercy refinery in the United States halved to 500,000 tonnes per year (tpy). Continues to evaluate options to cut purchase cost of alumina, including assessing the curtailment of Gramercy.
May 5 - Suriname Aluminium Company LLD (Suralco) said it would cut about 40 percent, or 870,000 tonnes per year (tpy) of production at its Paranam alumina refinery. Suralco is part of the Alcoa World Alumina and Chemicals group.
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.
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
BRIEF-Oxus Gold raises 406,917 STG through equity financing facility
LONDON, Oct 9 (Reuters) - Oxus Gold PLC: * Raised net proceeds of 406,917 stg by drawing down on it its equity financing facility[9 Oct '12]
BRIEF-Oxus Gold reports interim pretax loss
LONDON, Sept 19 (Reuters) - Oxus Gold PLC: * Reports interim loss before tax of $3.1 million including costs of arbitration process[19 Sep '12]
BRIEF-Oxus Gold files expropriation claim
LONDON, Sept 18 (Reuters) - Oxus Gold PLC: * Procedural calendar for the remainder of the arbitration proceedings is being discussed[18 Sep '12]
BRIEF-Oxus Gold says confident of fair compensation by arbitration tribunal
LONDON, May 30 (Reuters) - Oxus Gold PLC: * Confident will be awarded fair compensation by arbitration tribunal for investments in a[30 May '12]
BRIEF-Oxus Gold unaware of reason for stock rising 124.5 pct
LONDON, Dec 29 (Reuters) - Oxus Gold PLC: * Shares in small-cap closed up 124.5 percent * Oxus says it is not aware of any price sensitive[29 Dec '11]
BRIEF-Oxus Gold: Uzbek court rejects Said Ashurov's appeal
LONDON, Oct 31 (Reuters) - Oxus Gold PLC: * Uzbek court rejects Said Ashurov's appeal ((London Equities Newsroom; +44 20 7542 7717))[31 Oct '11]
Chinese miner launches gold plant in Kyrgyzstan
BISHKEK, Sept 21 (Reuters) - Kyrgyzstan launched its second foreign-run gold mine on Wednesday after the Chinese owners settled a dispute with l[21 Sep '11]
BRIEF-Oxus Gold to start arbitration proceedings against Uzbek gov
LONDON, Aug 31 (Reuters) - Oxus Gold PLC: * To commence international arbitration proceedings against uzbek government * Arbitration r[31 Aug '11]
