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| Xstrata Nickel production report for H1 2010 |
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| Code:MFN002808 Prpduct:Nickel Date: 2010-07-29 |
Total refined nickel production in the first half of 2010 rose to 45,458 tonnes, 8% higher than the same period last year. Improved volumes were achieved by processing internally all of the feed from Xstrata Nickel Australasia to maximize downstream utilization at the integrated nickel operations. At the end of the first half of 2010, the Nikkelverk refinery successfully completed its first twelve months of production at an increased annualized capacity rate of 92,000 tonnes, following low cost debottlenecking and capacity enhancing initiatives in 2009.
Total mined nickel production decreased marginally compared to the first half of 2009, as the ramp up of the new Nickel Rim South mine in Sudbury substantially offset reduced production following the restructuring of the Sudbury assets, the closure of Montcalm and marginally lower production from Raglan and XNA in the first half of 2009.
Total ore mined and head grade from the Sudbury mines increased by 91% and 48% respectively, reflecting higher grade, polymetallic production from Nickel Rim South, which commenced full mine operations in April 2010. The operation is on track to reach full capacity of 18,000 million tonnes of nickel in concentrate in 2011.
Raglan total ore mined and nickel head grade fell slightly by 3% and 2%, respectively, in the first half of 2010 due to a planned transition to new ore zones. At XNA, nickel in concentrate production fell by 9% as a result of the deferral of the Sinclair underground development in April 2009 due to market conditions. The underground development at Sinclair recommenced in April 2010 and production is on track to commence in the fourth quarter of this year.
Total mined copper production increased by 54% compared to the first six months of 2009 as a result of increased volumes and head grade from the polymetallic Nickel Rim South operation and the commencement of copper mining at Sudbury’s Fraser mine in April 2010.
The Falcondo ferronickel operation in the Dominican Republic remained on care and maintenance for the period. |
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| 06 Sep 2010 | | | Cash Ask | 3M Ask |
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| Copper | 7660.50 | 7675.00 |
| Aluminium | 2148.50 | 2179.00 |
| Zinc | 2146.00 | 2176.00 |
| Lead | 2160.00 | 2175.50 |
| Nickel | 21910.00 | 22000.00 |
| Tin | 21375.00 | 21400.00 |
| Al.Alloy | 2281.00 | 2170.00 |
| NASAAC | 2090.00 | 2120.00 |
| Steel Billet | 508.00 | 520.00 |
| Cobalt | 39501.00 | 41000.00 |
| Molybdenum | 35500.00 | 36000.00 |
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2010-09-06 |
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| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
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MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.10/lb
As of Aug. 31, 2010
(updated twice weekly)
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