http://www.miningweekly.com
R/€ = 15.80 Change: -0.03
R/$ = 14.38 Change: -0.02
Au 1326.60 $/oz Change: 6.64
Pt 1121.00 $/oz Change: 27.50
 

Base Metals News

Independence to raise up to A$280m to strengthen balance sheet

By: Creamer Media Reporter      Updated 7 hours ago ASX-listed Independence Group (IGO) plans to raise up to A$280-million to strengthen its balance sheet and fund the remaining capital expenditure (capex) for its Nova base metals project, in Western Australia. The equity raising comprises a A$250-million fully underwritten placement and an up to... 

Southern Copper reports 24.7% fall in Q2 profit vs year earlier

By: Reuters     27th July 2016 Southern Copper Corp said on Monday that its net profit fell 24.7% to $221.9-million, or $0.29 a share, in the second quarter from the same period a year earlier as copper prices continued to slump. The Arizona-based miner, which operates in Peru and Mexico, said its copper output rose 26.1% in... 

Antofagasta sees full-year copper production at lower end of forecasts

By: Reuters     27th July 2016 Chilean copper miner Antofagasta said full-year copper production would be at the lower end of the 710 000 t to 740 000 t it predicted in January, as a global market surplus shows little sign of easing. In common with other mining companies, Antofagasta has this year staged a recovery from the... 

Antofagasta sees full-year copper production at lower end of forecasts

Philippines will not allow Tampakan mine to operate as openpit – Minister

By: Reuters     27th July 2016 The Philippine minister in charge of mining said she will not allow the $5.9-billion Tampakan gold and copper mine in southern Mindanao island to operate as an open-pit site and vowed to shut more operations causing environmental destruction. The Tampakan project is the biggest stalled mining... 

Sherritt’s second-quarter net loss per share widens by 119%

By: Samantha Herbst     26th July 2016 As nickel prices remained under pressure in the three months to June 30, with reference prices averaging $4/lb, TSX-listed diversified miner Sherritt International has reported a 119% wider net loss a share from continuing operations in the second quarter, which translates to a 44% wider net loss... 

Sherritt’s second-quarter net loss per share widens by 119%
Sherritt International's Ambatovy plant

Damaged Namibian furnace set for three-week refractory lining replacement – Dundee

By: Creamer Media Reporter      26th July 2016 TSX-listed Dundee Precious Metals expects its 2016 concentrate throughput to be about 20 000 t less than planned, after a power outage led to damage to the refractory lining of the Ausmelt furnace at its Tsumeb smelter in Namibia. Subsequent to a power blackout in Namibia on July 22, cooling... 

Zinc, the metal investors love this year, has an ugly sister

By: Bloomberg     26th July 2016 They come from the same mines and are called sister metals, but investors are showing more affection for zinc than lead. Zinc, used to rustproof steel, has jumped 40% this year to become the best-performing industrial metal. It has gained on concerns about shortages, while steel prices rose as... 

Zinc, the metal investors love this year, has an ugly sister

Fuel cell thrust continuing – Anglo American Platinum 

By: Martin Creamer     25th July 2016 The momentum around fuel cell vehicles as one of the zero-emission technologies of the future is continuing to build as shown by launches and proposed launches of commercially available fuel cell electric vehicles by major car manufacturers. Pictures of fuel cell electric vehicles bearing... 

Fuel cell thrust continuing – Anglo American Platinum
Anglo American Platinum CEO Chris Griffith talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Chamber disputes veracity of Unctad underinvoicing claim 

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

TNG seeks reapproval for NT base metals spin-off plan

By: Mariaan Webb     25th July 2016 Strategic metals company TNG plans to have a second go at the demerger of a portfolio of noncore zinc and copper assets in the Northern Territory. The ASX-listed company originally announced the demerger in April last year and gained shareholder approval for the spin-off the following month, but... 

Strike ends at Anglo's El Soldado copper mine in Chile

By: Reuters     25th July 2016 Workers at Anglo American's small El Soldado copper mine in Chile called off a strike on Friday after reaching an agreement with the company, a union official told Reuters. The union has been on strike since July 8 after initial discussions failed with the company during its contract talks. 

Weatherly Q4 output drops on higher-than-expected groundwater inflows

By: Natasha Odendaal     22nd July 2016 Increased groundwater inflow rates have hampered production at the Tschudi openpit copper mine, in Namibia, in the quarter ended June 30. Aim-listed Weatherly International on Friday said the groundwater inflow rates had surpassed the levels forecast in the operation’s bankable feasibility study,... 

Prominent Hill bounces back, Oz Minerals to meet FY guidance

By: Mariaan Webb     22nd July 2016 South Australian copper and gold miner Oz Minerals has maintained its full-year production guidance, despite losing about 10% of its plant availability in the June quarter owing to unplanned repairs. The Prominent Hill mine produced 27 350 t of copper in concentrate and 30 099 oz of gold in... 

Prominent Hill bounces back, Oz Minerals to meet FY guidance
The Prominent Hill mine in South Australia.

Ruskoway outlines ambitious plans to develop diverse asset portfolio

By: Ilan Solomons     22nd July 2016 South African junior mining and exploration company Ruskoway is intent on developing its four diversified mineral resource projects in South Africa, says Ruskoway project manager Siyabonga Sibiya. The company’s Fonte Verde platinum-group metals (PGMs), nickel and copper deposit is located near... 

Ruskoway outlines ambitious plans to develop diverse  asset portfolio
IRON MINERALISATION Ruskoway’s latest testwork on Matayo has established that a final product of up to 69% iron maghemite can be produced

Government to decide fate of top Botswana nickel miner shortly, says minster

By: African News Agency      21st July 2016 The Botswana government has set up a cabinet task force of five ministers to study the business model and operations of its troubled nickel miner Bamangwato Concession Limited (BCL) in order to decide on whether to fund, place the mine on care and maintenance or shut down operations completely.... 

South32 on track to meet FY2017 cost guidance; FY2016 production in line with forecasts

By: Mia Breytenbach     21st July 2016 Diversified major South32 says the completion of restructuring initiatives and the fact that production met or exceeded guidance for the 2016 financial year for the majority of its operations is positioning the company well to achieve its unit cost guidance in the new financial year. Despite a... 

South32 on track to meet FY2017 cost guidance; FY2016 production in line with forecasts
Photo by Bloomberg
South32 CEO Graham Kerr

Oz Minerals, Mithril to explore for nickel/copper in S Australia

By: Megan van Wyngaardt     21st July 2016 Oz Minerals has entered a heads of agreement with Mithril Resources to explore seven new nickel/copper licence areas in South Australia. Mithril will undertake a target generation exercise in the Coompana block of the far west of South Australia, with a view of identifying potential drill... 

Western Areas exceeds guidance

By: Megan van Wyngaardt     21st July 2016 ASX-listed Australia-based miner Western Areas’ mine production for the June quarter has exceeded its financial year guidance of 27 000 t by producing 27 607 t of nickel. The increase was driven by record yearly production for the Spotted Quoll mine, in the Forrestania region. Mill production was... 

BC govt amending Taseko’s environmental assessment certificate

By: Megan van Wyngaardt     21st July 2016 The British Columbia Environmental Assessment Office is proceeding with TSX-listed Taseko Mines’ request for it to amend the environmental assessment certificate of its New Prosperity gold/copper project in central British Columbia. In February, Taseko sued the federal government in the Supreme... 

Independence develops Bollinger decline early

By: Creamer Media Reporter      21st July 2016 Base metals firm Independence Group (IGO) is accelerating the development of the Bollinger orebody at the Nova nickel/copper/cobalt project, announcing on Thursday that work has begun on a new decline. Early access to the Bollinger orebody is expected to deliver enhanced early cash flow and... 

Contractor selected for Oyu Tolgoi underground decline

By: Mariaan Webb     20th July 2016 Australia-headquartered Cimic Group’s mining services contractor Thiess has secured the first underground decline project at the Rio Tinto-operated Oyu Tolgoi copper and gold project, in Mongolia, in a joint venture with local contractor Khishig Arvin. The Thiess-led contract will include the... 

Contractor selected for Oyu Tolgoi underground decline

Lundin granted extension to decide on Tenke Fungurume buyout

By: Creamer Media Reporter      20th July 2016 Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF... 

BHP aims to grow copper, iron-ore, coal volumes in FY17

By: Mariaan Webb     20th July 2016 Diversified mining group BHP Billiton, which narrowly missed its iron-ore production guidance for the 2016 financial year, aims to grow its copper, iron-ore and metallurgical coal production in the next financial year by focusing on improving its productivity. Reporting on the group’s 2016... 

BHP aims to grow copper, iron-ore, coal volumes in FY17
BHP Billiton CEO Andrew Mackenzie

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon 

By: Martin Creamer     19th July 2016 Mineral Resources Minister Mosebenzi Zwane would do well to ponder last Friday’s landmark Constitutional Court judgment as he and his department mull public comments on the draft reviewed Mining Charter that he sprung on the South African mining industry in a surprise April gazetting. This is... 

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Peter Leon,

EU launches WTO challenge to Chinese raw material duties

By: Reuters     19th July 2016 The European Union launched a third legal challenge on Tuesday to restrictions on Chinese exports of 11 key metals and materials, joining the United States in suing Beijing for unfairly favouring Chinese industry. The bloc is seeking formal consultations with China, the first step in World Trade... 

Consolidated Tin Mines appoints administrators

By: Megan van Wyngaardt     19th July 2016 Australia-based miner Consolidated Tin Mines has appointed Hall Chadwick’s Blair Pleash and Kathleen Vouris as voluntary administrators, following the company’s failure to secure funding arrangements to address its working capital requirements. Consolidated Tin Mines has been engaged in... 

Rox mulls sale of stake Reward zinc JV

By: Mariaan Webb     19th July 2016 ASX-listed Rox Resources has agreed to an exclusivity agreement with listed, but suspended, shell IM Medical, which is interested in buying its 49% interest in the Reward zinc/lead joint venture (JV) project, in the Northern Territory. Rox owns 49% of the JV with Teck Resources holding the... 

Zinc climbs to highest in more than a year on shortage worries

By: Bloomberg     19th July 2016 Zinc extended its advance to the highest level in more than a year on concerns over a looming supply deficit. The metal used to galvanize steel rose as much as 1.3% to $2 246 a metric ton on the London Metal Exchange, the highest since May last year, and traded at $2 241 by 3:03 p.m. Shanghai... 

Construction of Carrapateena decline to start as contractor is selected

By: Mariaan Webb     19th July 2016 Australian company Pybar Mining Services has been selected as the contractor for the Carrapateena decline project, in South Australia, in a $65-million tender that has attracted significant interest from international and domestic companies. Announcing Pybar as the winner of the “hotly contested... 

Amended environmental approval for Altona’s Cloncurry

By: Mariaan Webb     19th July 2016 Junior Altona Mining’s Cloncurry project in Queensland has received amended environmental approval from the Queensland Environment and Heritage department, paving the way for closing a $238.5-million joint venture agreement with Sichuan Railway Investment Group (SRIG). 

Metal Tiger reports high potential for huge copper deposits in Botswana

By: African News Agency      19th July 2016 LSE-listed Metal Tiger Plc has announced the discovery of new copper mineralisation indicators which are potentially proof of the availability of huge deposits in the Mahumo Concession of the Kalahari Copperbelt in Botswana. In a cautionary notice issued to shareholders, the company said the new... 

Congo's small miners fill hole left by downsizing multinationals

By: Reuters     18th July 2016 His toes bursting out of sneakers several sizes too small, a miner hacks with a pick at the copper and cobalt-laced stone in southeastern Congo, slowly filling a sack that could earn him anywhere from a handful to a few hundred dollars. The 42-year-old father of five, who only gave his first... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms 

By: Martin Creamer     18th July 2016 The Taxation Laws Amendment Bill released on July 8 contains two surprise amendments to mineral royalty taxation on the eve of the Davis Tax Committee’s next mining tax report, which is expected to provide the royalty regime with much needed certainty. The two amendments proposed in the Bill,... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms
KPMG tax head Muhammad Saloojee talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Imperial Metals lifts Red Chris output as Mount Polley restarts

By: Henry Lazenby     16th July 2016 Base metals producer Imperial Metals reports that the Red Chris mine, in north-west British Columbia, increased copper and gold production by 14% and 23%, respectively, during the second quarter ended June, producing some 26.74-million pounds copper and 18 213 oz gold. The TSX-listed miner on... 

Nickel rally to lose strength by year-end; aluminium settles into lower-for-longer pattern

By: Henry Lazenby     15th July 2016 New forecasts by BMI predict nickel prices will rise in the short term, however, the rally will taper off by year-end, as heightened Chinese refined nickel imports and ore supply disruptions from the Philippines buoy prices. However, the Fitch group research firm says positive long-term... 

Nickel rally to lose strength by year-end; aluminium settles into lower-for-longer pattern

Global nickel market deficit widens to over 11 000 t in May – INSG

By: Reuters     15th July 2016 The global nickel market deficit widened to 11 200 t in May, as low prices weighed on refined output from top producer China while demand slowly improved, data from the International Nickel Study Group showed on Friday. But strong yearly production from mines in Indonesia and a revival in output... 

RTG Mining raises $15m in oversubscribed placement

By: Mariaan Webb     15th July 2016 TSX- and ASX-listed RTG Mining has received commitments to raise $15-million in a private placement, which the company said on Friday was “heavily” oversubscribed. RTG noted that the strong demand for the placement reflected the quality of the high-grade, near-term copper/gold production... 

Stormy seas hit Chile copper exports, could buoy prices

By: Reuters     15th July 2016 Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world's top producer in the second half of June, potentially supporting prices in a market grappling with oversupply. Cargoes were stranded at ports as stormy weather prevented ships from loading, said miners... 

First
Prev
1
2 3 4 5 6 7 8 9 Next Last

Latest News

more

Latest Videos

more

Press Office

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119 Close