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IMF backs Zambia plan to end copper tax rows, warns on deficit

By: Reuters The International Monetary Fund on Tuesday applauded Zambia's efforts to resolve tax issues in its copper mining industry but warned that only further tightening of fiscal and monetary polices would contain the country's large deficits. President Edgar Lungu directed Zambia's finance and mining... 

Chile Feb copper output falls 1.1% from year earlier

By: Reuters World No 1 copper producer Chile produced 447 810 t of copper in February, a 1.1% decrease from a year earlier, due to plant maintenance at a key project, the government said on Monday. 

Miners Teck, Antofagasta deny they are in merger talks

By: Reuters Teck Resources and Antofagasta denied on Monday that they were in talks about a merger after Bloomberg news reported that the two mining companies were in early stage talks. Teck said in statement it was not in discussions with Antofagasta "in relation to any form of transaction." 

Miners Teck, Antofagasta deny they are in merger talks

Alcoa cuts last smelting capacity at São Luís facility in Brazil

By: Henry Lazenby Aluminium and lightweight metals producer Alcoa will curtail the remaining 74 000 metric tons of smelting capacity at its São Luís facility, in Brazil. NYSE-listed Alcoa on Monday said the curtailment was part of its plans to evaluate upstream capacity for possible curtailment, closure or sale as... 

Nevsun restarts Bisha mine following vandalism, repairs

By: Natalie Greve Vancouver-based miner Nevsun Resources has successfully restarted the processing plant at its Bisha mine, in Eritrea, following repairs to the ball mill and the tailings thickener during a two-week shutdown. The processing plant had been offline since March 13, when a mechanical issue with the... 

Poseidon takes ownership of Black Swan

By: Esmarie Swanepoel Nickel miner Poseidon has taken full operational control of the Black Swan nickel project, in Western Australia, after completing the purchase agreement with major Norilsk Nickel. Poseidon initially planned to use the 2.2-million-tonne Black Swan processing plant to treat the ore from its... 

Nova on schedule - Sirius

By: Esmarie Swanepoel Nickel developer Sirius Resources on Monday said that the development of its Nova project, in Western Australia, was running on schedule, with the company also announcing GR Engineering Services as the preferred tenderer for the processing plant. The Nova nickel mine was expected to deliver... 

PanAust receives second takeover offer approach from Gram

By: Esmarie Swanepoel Copper/gold miner PanAust on Monday announced that it had received an unsolicited takeover offer from shareholder Guangdong Rising Asset Management (Gram), which was offering a cash price of A$1.71 for each share it did not already own. Gram currently has a 22.5% interest in PanAust. 

PanAust receives second takeover offer approach from Gram

Southern Copper still moving forward with Tia Maria Peru project - CEO

By: Reuters Southern Copper "will continue making efforts to move forward" with its Tia Maria project in Peru, the CEO of the mining firm told Reuters, just hours after a company spokesperson said the project was being shelved. "Our position is that effectively the statements that were made do not totally... 

Barrick to keep operating Zambia copper mine, pending royalty change

By: Reuters Barrick Gold, the world's biggest gold producer by output, will continue operating its Lumwana copper mine, in Zambia, while awaiting changes to the country's mineral royalty tax, the company said on Friday. Barrick had said it would suspend operations after Zambia hiked mineral royalties for... 

Codelco 2014 copper production up 3% to 1.67-million tonnes

By: Reuters Chile's state-run Codelco produced 1.67-million tonnes of copper in full-year 2014, a 3.1% rise from a year earlier, the world's No 1 copper producer said on Friday. The company said the jump in output was mostly due to Codelco's newest mine, Ministro Hales, which produced 141 200 t copper in... 

First Nickel trims 2014 FY net loss

By: Henry Lazenby Ontario-based nickel producer First Nickel has reported a narrower net loss for full-year 2014, as higher nickel prices and improved sales volumes boosted the bottom line. The company, which operates the Lockerby mine, in the Sudbury basin, on Thursday reported a net loss of C$20.7-million for... 

Basil Read records R820m loss in challenging market

By: Megan van Wyngaardt A challenging construction sector, difficult contractual environment and poor operational performance have contributed to JSE-listed construction company Basil Read reporting an R820.9-million aftertax loss for the year ended December 31, 2014. “Lossmaking contracts across all construction... 

Basil Read records R820m loss in challenging market

Metallum to benefit from Chilean price assist

By: Esmarie Swanepoel Junior copper miner Metallum said on Friday that the company would benefit from new measures introduced by the Chilean government to support small miners. The Chilean government has announced that it would provide price support to small miners delivering ore to the Enami processing facilities,... 

Chile-based miner reports results down but still solid

By: Keith Campbell Major copper miner Antofagasta, listed on the London Stock Exchange and based in Chile, has revealed preliminary results for last year that are down on the results for 2013, but which the company regards as respectable, given the decline in market conditions. The 2014 preliminary results... 

Construction starts on Palabora Copper’s R9.3bn Lift II project

By: Ilan Solomons The development of refined copper producer Palabora Mining Company’s subsidiary, Palabora Copper’s R9.3-billion Lift II project, in Limpopo, is under way and ramp up to full project execution is gradually taking place, Palabora Copper corporate affairs manager Hulisani Nemaxwi tells Mining... 

Construction starts on Palabora Copper’s R9.3bn Lift II project
COST CONSCIOUS Remaining cost effective amid low copper prices is crucial for Palabora Copper

Zambia housing project nears completion

By: Dylan Slater The R28-million mine housing project at Zambia-based copper mine Mopani Copper Mines is currently 85% complete, reports Roodepoort-based prefabricated buildings company African Modular Building Solutions (AMBS). 

Zambia housing project nears completion
Photo by Duane Daws
IN-HOUSE MANUFACTURING To enhance the quality of its products, AMBS manufactures several key components in-house

Mines begin to reopen in Chile after heavy rains

By: Reuters Chile's Codelco, the world's No 1 copper producer, said on Thursday it is gradually reopening mines in the north of the country that were closed on Wednesday due to heavy rains, but that its Salvador mine remained shuttered. Conditions at Salvador did not yet permit safe operation, and 17... 

Mines begin to reopen in Chile after heavy rains

Electricity-slashing platinum game changer expected by December

By: Martin Creamer The target date is the end of this year for the decision to go ahead with the commercial implementation of a paradigm shift technology that will mine and refine platinum in an integrated on-site process and use only a tenth of the electricity normally consumed. Major detail design work has... 

Electricity-slashing platinum game changer expected by December
Photo by Duane Daws
Arne Frandsen

Zambia's President signals aim to change mining royalties

By: Reuters Zambian President Edgar Lungu on Wednesday directed the finance and mining ministers to change royalties on mining firms by April 8, saying the copper-producer could consider temporarily reverting to the tax regime in 2014. The decision to increase royalties in January for open pit mines to 20%... 

Miners suspend operations in Chile as heavy rains flood roads

By: Reuters Torrential downpours in the north of Chile, the world's biggest copper producer, have forced companies to suspend operations at several of the area's major mines, putting an estimated 1.5-million tonnes of capacity of the red metal on hold. The country, which produces a third of the world's... 

Miners suspend operations in Chile as heavy rains flood roads

Seabridge Gold reports maiden resource for KSM’s Iron Cap Lower Zone

By: Henry Lazenby British Columbia-focused explorer Seabridge Gold has completed the first resource estimate for the Iron Cap Lower Zone at its 100%-owned KSM project, in north-western British Columbia. The Iron Cap Lower Zone was, after Deep Kerr, the second core zone identified at the massive project, which was... 

Engineering firm completes umbilical winches for Nautilus Minerals' deep-sea fleet

By: Henry Lazenby Canadian marine mining project developer Nautilus Minerals on Tuesday said a British engineering firm had successfully completed factory acceptance testing of the umbilical winches for three seafloor production tools (SPTs). UK-based Soil Machine Dynamics designed and built the umbilical winches,... 

Sherritt International appoints ArcelorMittal Canada exec as COO

By: Henry Lazenby TSX-listed Sherritt International Corp has named ArcelorMittal Mining Canada president and CEO Steve Wood as its new COO effective from April 27. Wood would oversee all Sherritt's operations in Canada, Cuba and Madagascar, including the environmental, health and safety, sustainability,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee

By: Martin Creamer South Africa should seize the current timely opportunity to amend its mining taxation in a manner that encourages foreign investment, stimulates prospecting, gets mining companies to start dealing with marginal mines and gives enough back to the fiscus for the benefit of this country's people,... 

Seize opportunity to improve mining tax, pleads KPMG’s Saloojee
Muhammad Saloojee

Ntaka Hill deal revised - IMX

By: Esmarie Swanepoel ASX-listed IMX Resources has agreed to revise the terms of a proposed joint venture (JV) with Mauritius-based Fig Tree Resources Fund II, following the completion of a due diligence on the Ntaka Hill nickel project, in Tanzania. The revised transaction structure would incorporate an increase in... 

Canada's Sherritt hit by strike at Madagascar mine

By: Reuters Diversified Canadian miner Sherritt International said on Monday a strike by employees at its Ambatovy nickel mine in Madagascar had forced the company to curb output there. The company said the strike had started a week ago and was continuing despite efforts to reach a resolution. The mine is... 

Seabridge Gold lifts KSM’s Deep Kerr deposit resources by 52%

By: Henry Lazenby Project developer Seabridge Gold has expanded by 52% the resources for the Deep Kerr deposit, which forms part of the massive KSM project, in north-western British Columbia. The TSX- and NYSE-listed explorer pointed out that an updated independent mineral resource estimate for Deep Kerr now... 

Noront Resources consolidates position in Ontario’s Ring of Fire for a bargain 

By: Henry Lazenby Northern Ontario’s emerging minerals-rich Ring of Fire (RoF) mining camp has a new champion after US-focused iron-ore producer Cliffs Natural Resources agreed to bow out of the prospective region by selling its claims to explorer Noront Resources for $20-million. Noront, which was currently in... 

Noront Resources consolidates position in Ontario’s Ring of Fire for a bargain

Sherritt International achieves major production milestone at Madagascar nickel project 

By: Henry Lazenby Pending independent verification, multinational miner Sherritt International has achieved a significant production milestone at its Ambatovy nickel project, in Madagascar, after securing the sixth – and one of the most critical – of ten certificates under the terms of the project’s financing... 

Zijin Mining acquires 9.9% stake in Ivanhoe Mines

By: Megan van Wyngaardt TSX-listed miner Ivanhoe Mines has entered into a $82-million deal with Chinese Zijin Mining Group to boost the miner’s working capital and available funds for general corporate purposes, including the advancement of the company’s projects in Africa. Under the terms of the deal, the Chinese... 

Zijin Mining acquires 9.9% stake in Ivanhoe Mines
Photo by Duane Daws
Robert Friedland
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