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Nickel: France grants loan to SLN from Eramet to prevent its collapse
The French government has agreed to grant a EUR 40 million (USD 42.9 million) loan to SLN, the New Caledonian nickel producer controlled by mining group Eramet that is facing financial collapse. The nickel producer warned in November of a 'liquidity crisis' after...
Rare earth: Lynas plant risks partial closure
Malaysian regulators renewed the operating licence for Lynas’ Rare Earths unit but retained conditions that will prevent Lynas from importing and processing rare earth concentrate after 1 July. Lynas, the world’s largest producer of rare earths outside...
HRC steel: the European market remains at a standstill
Steel mills kept HRC offers on the European hot-rolled coil market at a standstill on 10 February, unwilling to lower prices. Although offers on the market remain fairly stable at EUR 780-800/mt ex-works Northern Europe, with mills attempting to set prices at EUR...
Steel: British manufacturer Aartee Bright Bar goes into administration
British steel producer and distributor Aartee Bright Bar (ABB) has gone into administration. The decision was made after ABB's commercial lender, FGI, decided to enforce its debts to the company. The administration in the UK is similar to Chapter 11 of the US...