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Nevsun lifts Q3 copper output

By: Natalie Greve Dual-listed Nevsun Resources has posted a 19% quarter-on quarter increase in copper production, delivering 56.4-million pounds of the yellow metal in the quarter ended September 30. Cash costs at the group’s Bisha mine, in Eritrea, remained relatively flat, at $1.05/lb, while the company realised... 

Botswana mining output jumps 16.7% year-on-year in Q1

By: Reuters Botswana's mining production rose 16.7% year-on-year in the first quarter mainly due to the completion of maintenance at the Orapa diamond mine, the first set of industry figures from Statistics Botswana showed on Friday. Diamond output was the biggest contributor to growth in the first quarter,... 

Canada's First Quantum's earnings hurt by lower copper output

By: Reuters Canadian base metal miner First Quantum Minerals reported a bigger-than-expected drop in third-quarter earnings on Thursday, due in part to lower copper and nickel production. The company, which primarily mines copper but also produces nickel and gold, said earnings fell to $121.2-million, or... 

Newmont earnings fall on lower prices, beats Street

By: Henry Lazenby Gold producer Newmont Mining has reported lower earnings for the three months ended September 30, as lower sales and metals prices weighed on its balance sheet. However, the Denver, Colorado-based company’s financial results beat analyst forecasts, helped, in part, by lower costs. 

Newmont earnings fall on lower prices, beats Street

Palabora Copper awarded Level 4 BBBEE status

By: Chantelle Kotze Refined copper producer Palabora Copper (PC), a subsidiary of Palabora Mining Company (PMC), achieved a Level 4 broad-based black economic-empowerment (BBBEE) status earlier this month following an audit conducted by BBBEEE verification agency Edge Verification Solutions last month, for the year... 

Palabora Copper awarded Level 4 BBBEE status
Photo by Reuters
TRANSFORMATION AGENDA Palabora Copper’s 100% Level 4 broad-based black economic-empowerment status will be valid until October 2015

Vale reports increased production from African operations in third quarter

By: Keith Campbell Brazilian mining major Vale’s Moatize coal operation in the Tete province of Mozambique increased its output during the third quarter (3Q) of this year, in comparison to the second quarter (2Q). This was revealed by the group in its 3Q14 Production Report. During the third quarter, Moatize... 

Goldcorp stock falls on Q3 earnings miss

By: Henry Lazenby The NYSE-listed stock of miner Goldcorp on Thursday fell 10% after the world’s largest gold producer by market capitalisation swung to a net loss for the three months ended September 30. Vancouver-based Goldcorp had a loss for the third quarter of $44-million, or $0.05 a share, compared with net... 

Goldcorp stock falls on Q3 earnings miss

Zambia may be backing off steeper mine royalty rates – Barrick

By: Reuters There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the... 

PanAust expects to hit upper-end of 2014 guidance

By: Esmarie Swanepoel Copper/gold miner PanAust on Thursday told shareholders that the company was on track to meet its full-year production guidance, after reporting a solid quarter in the three months to September. During the quarter under review, the Phu Kham mine, in Laos, produced 16 562 t of copper in... 

Augusta acquisition adds to Hudbay’s Q3 profit

By: Henry Lazenby Canadian base metals producer Hudbay Minerals has generated a profit of $49.2-million, or $0.22 a share, for the three months ended September 30, up from $3-million for the same period in 2013, boosted by gains related to the C$555-million acquisition of Augusta Resource Corp in July. Hudbay... 

Sherritt International posts Q3 loss, cuts into workforce

By: Henry Lazenby TSX-listed nickel and cobalt producer Sherritt International will cut its salaried workforce by 10%, excluding employees at its Ambatovy nickel and cobalt mine, in Madagascar, as part of its company-wide restructuring process. Sherritt, which had started a process to sell its Toronto head-office... 

Strike-hit Impala’s platinum output down 25%, unit costs up 62%

By: Martin Creamer Strike-hit mining company Impala Platinum (Implats) has produced 25.5% fewer platinum ounces in the three months to September 30 than in the corresponding period last year. In line with reduced platinum production, group unit costs rose 62% to R26 698/oz of platinum, compared with R16 488/oz in... 

Strike-hit Impala’s platinum output down 25%, unit costs up 62%
Photo by Duane Daws
Implats CEO Terence Goodlace

China to face 10mt to 15mt bauxite gap from 2016 - Alumina

By: Reuters China could face a 10-million to 15-million tonne shortfall in bauxite supply as stockpiles run down from the second half of 2015, following an Indonesian ban this year on exports, said Andrew Wood, an executive with Melbourne-based Alumina Inc. The shortfall could curb China's alumina... 

Chile's Codelco issues $980m bond to help fund investments

By: Reuters Chile's Codelco, the world's largest copper producer, said on Tuesday it has issued $980-million in 30-year senior unsecured notes to help finance an ambitious investment plan. The bond carries a 4.875% annual coupon and 4.966% yield. 

Southern Copper's net profit falls 5.8% in third quarter

By: Reuters Southern Copper's net income fell 5.8% in the third quarter from the same period a year earlier on higher sales costs and a new mining tax in Mexico, the global miner said on Tuesday.The company's reported third-quarter net income of $324.3-million, or $0.039 a share, came in slightly below... 

Freeport-McMoRan’s Q3 profit drops amid depressed prices

By: Henry Lazenby Diversified miner Freeport-McMoRan's profit fell nearly a third year-on-year for the three months ended September 30, as depressed copper and gold prices cancelled expected gains from improved sales. NYSE-listed Freeport reported net income attributable to shareholders of $552-million, or $0.53 a... 

Freeport-McMoRan’s Q3 profit drops amid depressed prices

Rambler Metals reports solid full-year performance

By: Henry Lazenby Having reported strong results for its financial year ended July 31 and with a fully repaid debt facility and a stack of cash in the bank, Aim- and TSX-V-listed Rambler Metals is looking towards the 2015 fiscal year to take the company to the next level. Rambler, which currently operates the Ming... 

Freeport Indonesia union plans one-month strike at copper mine

By: Reuters Workers at Freeport-McMoRan's giant Indonesian copper mine plan to go on strike for a month from next week, a union official said on Monday, after the company failed to make changes to local management following a fatal accident. Earlier this month, hundreds of angry protesters blocked access... 

Sumitomo appeal of nickel mine ruling to be heard in early 2015 - Axiom

By: Reuters An appeal by Japan's Sumitomo Metal Mining Co Ltd against a Solomon Islands court ruling giving Australia's Axiom Mining Ltd prospecting rights to a nickel deposit is expected to be heard early next year, Axiom said on Monday. Axiom has been making plans to ship unprocessed ore to Chinese buyers... 

Peru copper mine Antamina says weaker output to end over medium term

By: Reuters Antamina, Peru's top copper mine, said on Friday it expects a period of weaker production to subside in "the medium term." The mine, in which BHP Billiton and Glencore Xstrata each have 33.75% stakes, produced 246 851 t of copper in the first eight months of 2014, 14% less than in the same... 

Mindoro Resources ships first iron-ore from Philippines

By: Henry Lazenby TSX-V- and Frankfurt-listed Mindoro Resources this week reported that it had completed the first shipment of high-iron/low-nickel direct shipping ore (DSO) from the Agata project, located in northern Mindanao, in the Philippines. The shipment of 54 181 wet metric tonnes (wmt) of limonite ore,... 

Mirabela says Q3 production solid 

By: Esmarie Swanepoel Embattled nickel miner Mirabela Nickel has reported a solid quarter, despite being in administration. Production during the three months to the end of September reached 2 628 t of nickel in concentrate. This compares with 2 767 t produced during the previous quarter. 

Alcoa agrees to sell majority interest in S Carolina aluminium smelter

By: Henry Lazenby Alcoa has agreed to sell its 50.3% stake in the Mt Holly aluminium smelter, in Goose Creek, South Carolina, to  its 49.7%-partner Century Aluminium, further trimming its primary aluminium production capacity as part of efforts to establish a low-cost portfolio of smelters. The US-based integrated... 

SA group delivering components of 1 100 t headgear to Zambian mine

By: Chantelle Kotze Heavy engineering group of companies Steel Services & Allied Industries (SS&AI) is delivering the components to site for a 1 100 t steel headgear manufacturing project, which is expected to be erected at the end of the year at the Mopani copper mine, in Zambia. 

SA group delivering components of 1 100 t headgear to Zambian mine
LARGE UNDERTAKING The longest abnormal piece of steelwork used in the headgear project was more than 13-m-long and weighed about 30 t

Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby Diversified Brazil-based miner Vale on Thursday reported record iron-ore output for the third quarter ended September 30, boosted by quarter-on-quarter gains in all its business segments. Vale said iron-ore output was 85.7-million tonnes in the period, underpinned by the ramp-ups of Plant 2 at... 

Vale lifts Q3 iron-ore output to historic highs

Chile Congress gives green light to Codelco capitalisation

By: Reuters Chile's Congress approved late Wednesday the government's capitalisation plan for Codelco, which will see the state copper firm receive $4-billion over the next five years to help fund an ambitious investment programme. The Chilean government announced in August that it planned to give Codelco,... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

Nautilus Minerals steps closer to releasing PNG funding

By: Henry Lazenby Prospective seafloor miner Nautilus Minerals has satisfied one of the conditions precedent to releasing $113-million, which its project partner – the Papua New Guinea government – had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the... 

Mincor assets deliver in Sept quarter 

By: Esmarie Swanepoel Nickel miner Mincor Resources has exceeded its production expectations during the September quarter, as both its operating mines, in Western Australia, exceeded yearly production targets. During the three months under review, Mincor increased production to 2 515 t of nickel-in-ore, up 5%... 

Chieftain Metals reports strong project feasibility optimisation

By: Henry Lazenby The proponent of the Tulsequah Chief polymetallic project, in British Columbia, Chieftain Metals, late on Monday published the results of an optimised feasibility study, aimed at improving the financeability of the project in the current difficult market. The 2014 feasibility update, prepared by... 

Chieftain Metals reports strong project feasibility optimisation

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

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