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Base Metals News

Zinc breaks through $3 000 barrier as metals rally gathers pace

By: Bloomberg     Updated 7 hours ago Zinc surged above $3 000 a metric ton amid persistent global deficits, and aluminium climbed as China reined in illegal capacity, adding fresh impetus to the rally even as some investors expressed concerns. Zinc jumped as much as 2.6% to $3 037/t on the London Metal Exchange, the highest level... 

Technology set to unleash mining innovation – Anglo’s O’Neill

By: Martin Creamer     16th August 2017 In the next ten years, technology is set to unleash a wave of mining innovation, with the sweet spot centred on changing the thinking around orebodies and processing plants rather than much-spoken-about automation. “Our focus has changed from hunting technologies to hunting value,” Anglo American... 

Technology set to unleash mining innovation – Anglo’s O’Neill
Anglo American technical director Tony O’Neill

Work stops at Nifty

By: Esmarie Swanepoel     16th August 2017 Underground operations at the Nifty copper mine, in Western Australia, have been temporarily suspended as owner Metals X undertook remedial repairs to the secondary escapeway. The ASX-listed company said on Wednesday that the repairs would take around seven days to complete, with the mine to... 

EMR Capital to take 80% stake in Zambia copper mine

By: Reuters     16th August 2017 Private equity house EMR Capital has purchased an 80% stake in a Zambian copper mine from African Rainbow Minerals (ARM) and its partner for $97.10-million, ARM said on Tuesday. The 80% indirect interest in Lubambe Mine, held equally by ARM and Vale International includes the equity holding in... 

Imperial running low on cash as debt payments loom, production dwindles

By: Henry Lazenby     16th August 2017 Base metals producer Imperial Metals is reviewing its mine plans and its capital requirements because of lower-than-expected metal output in the first half of this year, the company said late on Monday. To tide it over, the Vancouver-based company, which operates the Red Chris and Mount Polley... 

Palladium consumption to hit all-time high in 2017 – Nornickel

By: Mariaan Webb     15th August 2017 Palladium consumption is heading for an all-time high of 10.8-million troy ounces, which will leave the market in a deficit of more than one-million ounces in 2017, according to the world’s largest producer of the precious metal. Russia’s Nornickel said on Tuesday that it retained a positive... 

Palladium consumption to hit all-time high in 2017 – Nornickel

Africa's biggest copper mine hit by Zambian power restrictions

By: Bloomberg     15th August 2017 Zambia is cutting power to mines including Africa’s biggest copper site, the Kansanshi pit owned by First Quantum Minerals, escalating a fight over tariffs. "They have still got some significant amount of power for them to operate, but obviously their operations will not be at 100% because of the... 

Explorer Connemara raises £135 000

By: Creamer Media Reporter      15th August 2017 Irish exploration firm Connemara Mining has raised £135 000 in a share placing, the Aim-listed company announced on Tuesday. Connemara placed 7 848 837 new shares of €0.01 each in the company at 1.72p a share to raise the capital. 

Azure secures new flagship project in Mexico

By: Esmarie Swanepoel     15th August 2017 ASX-listed junior Azure Minerals has secured its next flagship project in the form of the Oposura zinc/lead/silver project, in Mexico. The company on Tuesday announced that it had taken full ownership of the advanced-stage project, which contained high-grade, massive sulphide-hosted zinc, lead... 

Permitting advances at Black Butte

By: Esmarie Swanepoel     15th August 2017 The Montana State Authority has issued ASX-listed Sandfire Resources’ Black Butte copper project, with a draft mine operating permit (MOP), allowing the company to advance the project. The draft MOP is expected within the next 30 days, and marked the culmination of an extensive process... 

African body urges Congo to prosecute Anvil over mine deaths

By: Bloomberg     15th August 2017 The African Union’s human rights body urged the Democratic Republic of Congo’s government to prosecute officials of an Australian mining company over their alleged role in a military crackdown in 2004 that left more than 70 people dead. The African Commission on Human and People’s Rights also... 

Katanga to restate certain historic results 

By: Henry Lazenby     15th August 2017 Canadian copper/cobalt producer Katanga Mining said on Monday it would restate some past financial statements to correct inaccuracies in its recorded amount of copper production during 2015 and 2014. The company's independent directors are conducting an ongoing review in cooperation with... 

Connemara appoints new CEO

By: Samantha Herbst     14th August 2017 Aim-listed Irish exploration company Connemara Mining has appointed Patrick Cullen its new CEO, effective from Monday.   Cullen boasts over 20 years of experience in the mining and exploration sector, most recently as a director of UK-based mining and metals company Kodal Norway. He was also... 

Higher prices lift Newcrest revenue as FY gold output dips

By: Esmarie Swanepoel     14th August 2017 Gold miner Newcrest Mining on Monday reported a 6% increase in revenue for the 2017 financial year, despite slightly lower gold production. Revenue for the 12 months to June 30 increased from A$3.2-million to A$3.4-million, as the company benefited from an 8% higher realised gold price and a 10%... 

Woodlawn equipment orders placed - Heron

By: Esmarie Swanepoel     14th August 2017 Dual-listed Heron Resources has advanced the development of its Woodlawn zinc/copper project, in New South Wales, placing initial orders for a number of long-lead, critical path equipment. The ASX- and TSX-listed company on Monday said that it had procured a $4.4-million fine grinding mill,... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

By: Reuters     14th August 2017 Copperbelt Energy Corp (CEC), Zambia's main supplier of power for its mines, confirmed on Sunday that it has restricted the amount of electricity it supplies to Glencore unit Mopani Copper Mines (MCM) because of a dispute over tariffs. Mopani said on Saturday that it has suspended operations in... 

Zambia's CEC confirms reduced power supply to Glencore's copper miner

This Canadian copper giant is missing best of metal's surge

By: Bloomberg     12th August 2017 As copper producers from Freeport-McMoRan to BHP Billiton ponder what to do with the windfall from surging prices, First Quantum Minerals has no such dilemma. Unlike most of its peers, First Quantum’s copper sales are fully hedged – at an expected average price of $2.37/lb for the second half of... 

Trevali lowers guidance as Santander water ingress delays development

By: Henry Lazenby     12th August 2017 Pure-play zinc producer Trevali Mining expects to produce less metal from the Peru-based Santander mine this year, after extreme rainfall during the recent mountain wet season delayed high-grade stope development by a quarter. The company announced on Thursday that the excessive rainfall during... 

Trevali lowers guidance as Santander water ingress delays development

Nevsun delays Timok schedule, provides more capital for flagship Bisha ops

By: Henry Lazenby     11th August 2017 Canadian base metals producer Nevsun Resources this week announced a strategic update on its capital allocation plans, allotting extra capital to its Eritrea-based Bisha zinc/copper/gold operation and delaying the timetable for delivery of the Serbia-based Timok prefeasibility study (PFS) to the... 

Nevsun delays Timok schedule, provides more capital for flagship Bisha ops
Photo by Nevsun Resources
Bisha mine, Eritrea

Outlook stable for Anglo American – S&P's

By: Anine Kilian     11th August 2017 Ratings agency Standard and Poor’s (S&P’s) has given global mining company Anglo American a stable outlook, raising its long- and short-term corporate credit ratings to BBB-/A-3 from BB+/B. The agency also raised Anglo American’s long-term South Africa national scale rating to zaAAA from zaAA+,... 

Russian tycoon Prokhorov agrees to sell 7% stake in Rusal to Vekselberg

By: Reuters     11th August 2017 Russian aluminium giant Rusal said tycoon Mikhail Prokhorov has agreed to sell around a 7% stake to billionaire Viktor Vekselberg for $503.9-million, concluding lengthy negotiations over a sale. Prokhorov, a minority shareholder in Hong Kong-listed Rusal, had been in talks to sell a 12% stake in... 

Work advancing to secure Chinese funding for large Greenland zinc project

By: Mariaan Webb     11th August 2017 Base metals developer Ironbark Zinc is continuing to work towards securing Chinese funding for a large potential zinc mine – the Citronen base metals project, in Greenland. Ironbark, which is listed in Australia, is working with China Nonferrous Metal Industry’s Foreign Engineering and... 

Aeon raises $5.5m for Queensland project

By: Creamer Media Reporter      11th August 2017 Base metals explorer Aeon Metals on Friday said it had agreed to place 39.2-million shares at 14c each to sophisticated and institutional investors to raise A$5.5-million before costs. “The Aeon board is very happy to broaden the share register with a good mix of domestic and international... 

Zinc of Ireland announces follow-up drilling at Kildare project

By: Mariaan Webb     11th August 2017 Spurred on by high-grade intercepts at the McGregor and Celtic Tiger prospects at the Kildare project, explorer Zinc of Ireland on Friday announced the start of a Phase 3 drilling programme. The first hole, 006, of the programme is focusing on the McGregor prospect, where ZMI is seeking to extend... 

Vedanta commits majority of Gamsberg capex, progresses waste stripping

By: Mia Breytenbach     11th August 2017 Diversified miner Vedanta Resources’ Zinc International subsidiary has committed more than 80% of the $400-million capital expenditure for the first phase of the Gamsberg zinc project, in the Northern Cape. The first phase of the Gasmberg project is expected to have a mine life of 13 years,... 

Vedanta commits majority of Gamsberg capex, progresses waste stripping

Gamsberg zinc project on course for first production in mid-2018

By: Mia Breytenbach     11th August 2017 Diversified miner Vedanta Resources' Gamsberg zinc project, in the Northern Cape, remains on track for first production in mid-2018. Prestart activities and waste stripping at the project have progressed well, with the completion of the north access ramp – a critical milestone and part of the... 

Gamsberg zinc project on course for first production in mid-2018
ON TRACK Vedanta has excavated more than 22.5-million tonnes of waste rock while orders for the integrated process plant, water and power and mining activities have been placed

Growth aids new sales platform

By: Nica Schreuder     11th August 2017 There is cautious optimism worldwide in the future demand for valves, owing to investment in major industries, such as, besides others, mining and oil and gas, as well as related infrastructure, which has prompted growth in the valves industry this year. Industry players are hoping that this... 

Growth aids new sales platform
COMPLEXITY Despite the sophisticated nature of valves, ValveConnect emphasises that they are still commodity items accessible through an online platform

Interest returning to Africa in response to commodities resurgence

     11th August 2017 Interest in Africa’s mineral potential is returning and there is a growing confidence in the future of the resources sector in Africa and in Africa–Australia relations, says organiser of the Africa Down Under (ADU) conference, Australian magazine publisher, Paydirt Media.  

Interest returning to Africa in response to commodities resurgence
INTEGRAL EVENT The importance of Africa Down Under continues to be reflected in the number of high-profile attendees it welcomes to Australia’s mining capital each year

Nedbank debt-financing African mining projects to the tune of $7bn

By: Ilan Solomons     11th August 2017 Investment banking services provider Nedbank Corporate and Investment Banking (CIB) is providing the African mining industry with about $7-billion in debt financing products and says it remains open for business opportunities across the continent. Nedbank CIB mining finance principal Paul Miller... 

Nedbank debt-financing African mining projects to the tune of $7bn
STRICT CRITERIA Mining companies’ forecast cash flows need to be supported by scientific economic analysis that complies to a regulated standard

South Africa’s mining production down 0.8% y/y in June

By: Creamer Media Reporter      10th August 2017 South Africa’s mining production decreased by 0.8% year-on-year in June, driven by lower gold, iron-ore and platinum group metals (PGMs) output. Gold production was down 3.6% year-on-year, while iron-ore output slid 4.4% year-on-year and PGMs 13.7% year-on-year. 

Efforts to reposition balance sheet, price improvements lift Glencore’s H1 earnings

By: Ilan Solomons     10th August 2017 Diversified mining and marketing company Glencore said “extensive efforts” to reposition its balance sheet and propel the company’s industrial asset portfolio improvements over the last two years were reflected in its strong interim financial performance. The group on Thursday published its... 

Efforts to reposition balance sheet, price improvements lift Glencore’s H1 earnings
Glencore CEO Ivan Glasenberg

Tanzania Q1 growth slows to 5.7%

By: Reuters     10th August 2017 Tanzanian growth slowed to 5.7% in the first quarter of this year, hurt by slower-than-expected performance of construction, transport, agriculture and the financial services sectors, the statistics office said on Thursday. Growth in the same period of 2016 was 6.8%. 

Jubilee’s shares rise as it secures funding to advance metals recovery strategy

By: Creamer Media Reporter      10th August 2017 The share price of dual-listed Jubilee Platinum rose by as much as 9.23% on the JSE on Thursday morning, after announcing it had secured $50-million in project funding to support the growth strategy for its metals recovery business. The company has executed a funding agreement with RiverFort... 

British mineral explorer in Africa lists in London

By: Reuters     10th August 2017 A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have... 

Depressed nickel price prompts care and maintenance for First Quantum’s Ravensthorpe mine

By: Henry Lazenby     10th August 2017 Starting in September, base metals producer First Quantum Minerals will mothball its nickel-producing Ravensthorpe mine, in Western Australia, on the back of the persistently low nickel price, the company announced on Wednesday. The Toronto-headquartered company expects that full care and... 

Depressed nickel price prompts care and maintenance for First Quantum’s Ravensthorpe mine

Elon Musk inspires No.1 miner to target electric vehicle boom

By: Bloomberg     9th August 2017 Observations by Tesla’s Elon Musk on the key role nickel plays in the electric vehicle boom helped inspire the world’s top miner BHP Billiton to invest in new capacity to target rising demand. Amid efforts to improve performance at its nickel operations in Australia, Eduard Haegel, asset... 

Elon Musk inspires No.1 miner to target electric vehicle boom
BHP Nickel West president Eduard Haegel

US finds China aluminium foil subsidised, imposes duties

By: Reuters     9th August 2017 The US Commerce Department said on Tuesday it made a preliminary finding that imports of aluminium foil from China are subsidised, and it imposed countervailing duties ranging from 16.56% to 80.97%. US aluminium foil producers had filed petitions with the US government accusing Chinese producers... 

Copper Mountain reports buoyant Q2 results

By: Henry Lazenby     8th August 2017 The TSX-listed stock of midtier miner Copper Mountain gained up to 7% on Tuesday, following the company reporting encouraging second quarter results. The company, which owns and operates the Copper Mountain mine, in southern British Columbia, expects to be ideally placed to take advantage of... 

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