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Supply of quality copper concentrate shrinks, sows seeds of price support

By: Reuters Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn... 

Western Areas debt free as it retires convertible bonds

By: Esmarie Swanepoel Nickel miner Western Areas has become debt free for the first time since 2004, after repaying some A$125-million of convertible bonds from existing cash reserves. MD Dan Lougher told shareholders on Friday that the repayment of the final convertible bonds on their maturity was an important... 

Declining South America copper ore grades require ingenuity

By: Dylan Slater Declining ore grades is one of the major challenges faced by copper miners in South America, specifically in Chile, says professional services firm Deloitte. 

Declining South America copper  ore grades require ingenuity
CHRISTOPHER LYON The aim in Chile is to grow copper production by between 3% and 4% yearly

Established miner expands portfolio

By: Dylan Slater Chile-based copper mining group Antofagasta Minerals is currently focusing on bringing its new Antucoya mine on stream, the company tells Mining Weekly. 

Established miner expands portfolio
IVÁN ARRIAGADA Antofagasta Minerals is committed to copper, as it is a commodity that the group knows well

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

Asian Mineral Resources appoints new board member

By: Megan van Wyngaardt Nickel miner Asian Mineral Resources (AMR) has appointed Evgenij Iorich to its board of directors, replacing Stephen Gill, who recently retired. The company owned and operated the 6 400 t Ban Phuc nickel mine in Vietnam. 

Chile injects copper miner Codelco with $225m in fresh capital

By: Reuters Chile's government said it will inject $225-million in capital into state-owned copper miner Corporacion Nacional del Cobre , known locally as Codelco, to help fund its ambitious investment plans. The funds will come from Codelco's 2014 profits, as the company gives all its profits to the state,... 

Thomas steps in as Weatherly CEO

By: Creamer Media Reporter Craig Thomas has stepped into the role of CEO of Namibia-focused copper miner Weatherly International, following the retirement of Rod Webster. Webster would continue to serve as a director of the company. 

Tiger announces debt refinancing, eyes DRC production expansion

By: Creamer Media Reporter ASX-listed Tiger Resources said on Wednesday that it had agreed terms with Taurus Mining Finance Fund for the refinancing of its existing secured debt facilities and for arranging a new facility to fund the potential debottlenecking works at the Kipoi copper project, in the Democratic Republic of... 

Sierra Gorda copper mine in Chile begins commercial production

By: Reuters Sumitomo Metal Mining (SMM), Japan's second-largest copper producer, said on Wednesday the Sierra Gorda mine in Chile that it owns jointly with Polish producer KGHM Polska Miedz began commercial production at the end of June. The mine had been operating for more than 60 days at 65% of its... 

Sierra Gorda copper mine in Chile begins commercial production

NZ's Meridian extends deadline for Rio Tinto smelter contract

By: Reuters Meridian Energy said on Wednesday that it would extend until August the deadline for when Rio Tinto's New Zealand aluminium smelter must decide whether to extend its power supply contract with the utility company. New Zealand Aluminium Smelters Ltd (NZAS) will now be required to give notice by... 

Indophil expects mid-July deal with Glencore on $5.9bn Philippine mine

By: Reuters Indophil Resources said a final agreement may be signed in the middle of July allowing it to take control of the long-delayed $5.9-billion Tampakan copper/gold project in the Philippines from Glencore. Indophil, previously listed in Australia until its takeover this year by the Philippines'... 

Chile copper output rises 2.1% in May

By: Reuters Chile, the world number one copper producer, had output of 508 245 t of the red metal in May from the year before, boosted by new projects and operational improvements at an unidentified "important" processing plant, government statistics agency INE said on Tuesday. Copper production increased... 

Mubadala, Trafigura create base metals investment JV

By: Creamer Media Reporter Abu Dhabi-based investment firm Mubadala Development and global commodities company Trafigura Beheer will establish a 50:50 joint venture to invest in the base metals mining sector. Under the terms of the deal, Mubadala would also acquire a 50% stake in Trafigura’s Minas de Aguas Teñidas (Matsa),... 

Zambia begins rationing electricity supply to mines – source

By: Reuters Zambia has started rationing power supply to mines, an industry source said on Tuesday, as Africa's second-biggest copper producer struggles to meet electricity demand. "They have given us a schedule indicating how much electricity they will supply to us at different times of the day due to the... 

South32 secures ICMM membership

By: Natasha Odendaal BHP Billiton spin-off South32 has successfully joined the International Council on Mining and Metals (ICMM), a move that is expected to deliver long-term benefits for the new globally diversified metals and mining company and its stakeholders. An independent expert review panel had recommended... 

Rio Tinto aluminium smelter in New Zealand faces possible power crunch

By: Reuters Rio Tinto's aluminium smelter in New Zealand, which has suffered losses in two of the last three years, faces a July 1 deadline to decide whether to extend its power supply contract with utility Meridian Energy . The decision could determine the future of the 350 000-tonne-a-year smelter, which... 

Zambia resumes VAT refund payments to mining firms – Minister

By: Reuters Zambia has started paying value-added-tax (VAT) refunds again to mining companies, its mining minister said on Monday, aiming to put an end to a long running dispute. Mining companies had claimed for months that they were owed more than $600-million in VAT refunds and in February the government... 

Newcrest starts Chillagoe exploration programme

By: Creamer Media Reporter Gold major Newcrest Mining has started exploration work at junior Mungana’s Chillagoe project, in Queensland, as part of an agreement to search for large gold/copper porphyry deposits. Under the agreement, which was announced in May, Newcrest will spend up to A$20-million on exploration over an... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

New report outlines value of copper exploration

By: Megan van Wyngaardt When looking at global exploration budgets for copper, which reached $11-billion in 2010, it is evident that the ferrous metal carries perennial importance, mining analysis company SNL Metals & Mining says in its Copper Discoveries 1990-2014 report, released on Monday. “After almost doubling by... 

New report outlines value of copper exploration

Nevada Copper announces new director

By: Sashnee Moodley Mining company Nevada Copper has appointed James Askew to its board of directors, with president and CEO Giulio Bonifacio stating that his appointment would add value as the company moved its Nevada-based Pumpkin Hollow copper development project forward to production. 

Nevada Copper announces new director

Southern Copper expects to start development of Peru's Tia Maria in 2015

By: Reuters Southern Copper Corp said that it expects to reach a deal this year with the local community over its $1.4-billion Tia Maria project in Peru and begin development of the mine later in 2015. Tia Maria could start producing copper in early 2018 if the community deal is reached this year, Southern... 

Savannah raises £550 000 to advance Moz JV

By: Natalie Greve Aim-listed Savannah Resources has raised £550 000 through the placing of 21.9-million new ordinary shares at a placing price of 2.5p apiece with both new and existing investors, it said on Monday. CEO David Archer said in a statement that the funding would be directed towards progressing the... 

Congo broke transparency rules with mine sale to Glencore unit – IMF

By: Reuters Congo's government breached its own regulations and the terms of an agreement with the World Bank by failing to disclose the sale of State shares in a joint mining venture, the International Monetary Fund (IMF) said on Friday. Swiss trading house Glencore said this week its Congo joint venture... 

Congo broke transparency rules with mine sale to Glencore unit – IMF

Rio Tinto pledges to invest in Mongolia copper mine this year - Mongolia PM

By: Reuters Mining company Rio Tinto has pledged to invest at least $250-million to $300-million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia's Prime Minister said on Friday. The second phase of construction at the mine is... 

First Nickel under TSX delisting review

By: Sashnee Moodley Mining and exploration company First Nickel reported it has received notice that the TSX is reviewing the eligibility of the company’s common shares for continued listing on the TSX. 

First Nickel under TSX delisting review

Sirius completes first debt drawdown to fund Nova

By: Megan van Wyngaardt Nickel miner Sirius Resources has completed the first $57-million drawdown of funding under its A$440-million syndicated facility agreement to fund the ongoing development of its 100%-owned Nova mine, in Western Australia. This would fund ongoing mine development and construction activities at... 

Altona signs agreement with Chinese firm to advance Conclurry project

By: Megan van Wyngaardt ASX-listed Altona Mining has signed a binding framework agreement with Chinese road, bridge and rail construction company Sichuan Railway Investment Group (SRIG) to establish an incorporated joint venture (JV) holding Altona’s Cloncurry copper/gold project, in north-west Queensland. As part of... 

Major Mungana shareholders do not intend to accept Auctus offer

By: Mariaan Webb ASX-listed Mungana Goldmines on Friday again recommended that its shareholders do not accept a 13.5c-a-share takeover offer from Auctus Chillagoe, pointing out that its two major shareholders have already indicated that they do not intend to accept the bid. Kagara Limited and Mungana Pty Ltd,... 

Teck suspends Quebrada Blanca cathode production after ground movement

By: Reuters Canada's Teck Resources Ltd said it will suspend copper cathode production at its Quebrada Blanca operations in northern Chile after unexpected ground movement was observed near its plant on Thursday. The duration of the production interruption and impact on production are unknown, the base... 

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