Nickel

Investors dump Talvivarra after CEO resigns

Talvivarra Mining (LON:TALV) got massacred on the markets today on news that its CEO, Pekka Perä, has resigned.

The London-listed Finnish base metal miner shed 55.83 pence to close at 198.66p — a 21.67% drop.

It is clear that investors saw the departure of Perä — the driving force behind the company and its largest shareholder, owning 23% of the stock — as a major negative, says an analyst quoted in The Daily Telegraph:

Albania inviting bids for 151 mining licences

Reuters reports that Albania is inviting bids for 151 mining licences this year, with 20 of them to be allocated through weekly competitions.

Zambia lifts metal export ban

Reuters reports Zambia has lifted a ban on metal exports just two days after imposing it to sort out revenue collection and increase transparency in Africa’s top copper producer, a minerals ministry official said on Thursday. It’s good news for the Zambian mining sector – a lengthy suspension could have further pressured mines already dealing with volatile metal prices in recent weeks.

Newly elected President Michael Sata has been concerned – analysts say with good reason – about copper exporters misreporting the amount of ore leaving Zambia, and earlier this week suspended export permits, to put new guidelines in place. Cobalt, gold and nickel also fell under the ban and now all export payments need to be routed via the central bank.

Asian shares rise on US data relief; commodities lead surge

Asian stocks rebounded strongly Thursday after positive U.S. data provided some relief to investors gripped by the recent turbulence in markets, with regional commodities and oil plays surging.

North American Palladium to expand flagship Ontario mine

Canada’s North American Palladium said it plans to expand its flagship mine in Northern Ontario at a cost of around $75 million for the first phase of the project. Phase 1 of the Lac des Iles expansion should be completed in the fourth quarter of next year when the shaft will begin operating at a rate of 3,500 tonnes per day.

The mine is located northwest of the city of Thunder Bay, and its primary deposits are palladium with some platinum, gold, nickel, and copper by-products. The company, which also operates two gold mines in Quebec, received a bump at the opening of trade in New York with the stock up 3.3% in a softer broader market.

Commodities may rally 20 pct on emerging-markets growth, Goldman Sachs says

Commodity prices may advance 20 percent over the next year as growth in emerging markets offsets the impact of the sovereign-debt crisis in Europe and a slowdown in developed economies, according to Goldman Sachs Group Inc.

Liberty Mines to restart Timmins operations

Liberty Mines of Toronto plans to restart production at its Timmins operations in Q1 2012. Mining and milling was suspended in February 2011 due to maintenance and tailings pond issues.

Nickel Asia says other mines to cover Taganito shipments

The company, with four mines in the Philippines, says it can divert output at two of its mines to cover for lost nickel ore shipments from the closed Taganito mine.

Northeast central Australia has potential as new base metals province

An area to the northeast of Alice Springs has the potential to emerge as the Northern Territory’s newest nickel, copper and gold province, according to an explorer active in the province.

Mining companies raided in Philippines

Three mining companies in the Philippines have been raided by over 200 heavily-armed communist rebels, Forbes.com is reporting. The rebels burned heavy equipment, disarmed guards and briefly held people, according to officials.