Rodg...

I pulled this selection of information from the BMO (Bank of Montreal) Investorline. I should mention that on Dec 1, 2008 Norilsk cut its nickel production back by 35%.

So it looks like the institutional investors are buying in now because mines continue to be closed or mothballed and production cut back. Stockpiles will start to dwindle with share prices starting to climb.

Snug

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March 19 (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.

March 19 - Norsk Hydro affiliate Alumina Partners of Jamaica (Alpart) said it plans to shut its 1.65 million tonnes a year alumina refinery for a year from May 15. [ID:nLJ487645]

March 18 - Timminco Ltd said it would suspend production of silicon metal from April. [ID:nN18348582]

March 12 - Kosovo's sole ferro-nickel producer Ferronikeli has cut its output by half. Producing 330 tonnes per month compared with about 700 tonnes earlier. [ID:nLC964335]

March 11 - Russia's Ufaleynickel said it had shut down a furnace and could halt output altogether if demand remained poor. Only two out of plant's five furnaces are working. [ID:nLB439584]

March 9 - Kazakh mining group Eurasian Natural Resources Corp Plc (ENRC) will review its production cuts in the second quarter, an official told the Reuters Global Mining and Steel Summit. Late last year it cut ferrochrome output by about 35 percent and iron ore output by 50 percent. [ID:nL9663441]

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