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Base Metals News

Sheppard appointed Konkola CEO – Business Day

By: Tasneem Bulbulia     22nd March 2019 Business Day on Friday reported that Chris Sheppard had been appointed CEO of Vedanta Resources’ Konkola Copper Mines (KCM) subsidiary, in Zambia. Sheppard was the former head of AngloGold Ashanti’s South African business. 

Jubilee set to acquire Sable Zinc refinery  

By: Nadine James     22nd March 2019 Dual-listed Jubilee Metals on Friday announced that it has executed a share purchase agreement for the acquisition of the Sable Zinc refinery in Kabwe, Zambia. The refinery is situated immediately adjacent to the large stockpiles of zinc, lead and vanadium that Jubilee has contracted from BMR Group. 

South32’s Mozal pledges $250 000 to aid Cyclone Idai recovery efforts

By: Tasneem Bulbulia     22nd March 2019 South32’s Mozal Aluminium smelter, which is located in the Mozambique capital Maputo, has pledged a $250 000 donation to support recovery efforts following the devastating impact of Cyclone Idai in the country. Commenting in a statement on Friday, Mozal VP Samuel Samo Gudo said the company had... 

Now BHP will earn into Luminex projects in Ecuador

By: Creamer Media Reporter      22nd March 2019 Canadian junior Luminex Resources has brought in another major miner to earn into its projects in Ecuador, announcing a letter of intent to enter into a farm-in and joint venture (JV) agreement with BHP over the Tarqui 1 and 2 mining concessions. BHP will have the right to earn up to a 70%... 

Glencore suspends Australian zinc mine as cyclone nears

By: Reuters     22nd March 2019 Commodity giant Glencore on Friday said it had suspended operations at its McArthur River zinc mine in northern Australia as a cyclone approaches. Authorities have declared a state of emergency in the region as Tropical Cyclone Trevor nears, with the nation's weather bureau on Friday saying the... 

Hudbay wraps up Rosemont permitting process

By: Mariaan Webb     22nd March 2019 TSX- and NYSE-listed Hudbay Minerals has wrapped up the permitting process for the Rosemont mine in Arizona, having received the approved mine plan of operations (MPO) from the US Forest Service. The issuance of the MPO is the final administrative step in the permitting process. 

Hudbay wraps up Rosemont permitting process

Galena gets A$10m injection

By: Esmarie Iannucci     22nd March 2019 ASX-listed junior Galena Mining will raise A$10-million through a subscription agreement with Kingfisher Capital. Kingfisher Capital would invest the funds over two tranches of A$5-million each, subscribing for shares priced at 40c each. On the completion of each tranche, Galena would also issue... 

Strike halts operations at Sierra Metals' Peru mine

By: Creamer Media Reporter      22nd March 2019 TSX-listed miner Sierra Metals has suspended all mining and milling activity at its Yauricocha mine, in Peru, after unionised workers downed tools over contractor changes in a strike that is deemed illegal. The employees belong to the Union of the Mine and Metallurgical Workers of Minera Corona,... 

Australian drilling programme makes promising start

22nd March 2019 A drilling programme at a sizeable anomaly beneath a dry salt lake in South Australia, has been successfully completed with encouraging preliminary geology observations. The Torrens project is located within the Stuart Shelf region of South Australia about 50 km from modern mining company Oz... 

Australian drilling  programme makes  promising start
TO DRILL “ORE” NOT TO DRILL The drilling at the large anomaly has shown promising geological results

Pure Alumina buys Canadian player

By: Esmarie Iannucci     21st March 2019 ASX-listed Pure Alumina has made a C$25.75-million offer for privately held Polar Sapphire, which would allow the Australian company to fast-track its plans to start the commercial production of a 99.99% high purity alumina (HPA) in 2019. Pure Alumina is offering C$13.75-million worth of company... 

Pure Alumina buys Canadian player

Kinross acquires 9.7% of Wolfden Resources

By: Marleny Arnoldi     20th March 2019 TSX-V-listed Wolfden Resources’ share price shot up 5% to C$0.18 apiece, following its announcement that Kinross Gold would take a 9.7% stake in the junior miner. The subscription agreement entails a nonbrokered private placement of about 12.5-million common shares of Wolfden at a price of... 

Norsk Hydro is restarting some systems as deliveries seen secure

By: Bloomberg     20th March 2019 Norsk Hydro is restarting some systems in its extrusion and rolled products areas to ensure deliveries to customers after the Norwegian aluminum maker was hit by a massive ransomware cyber attack. The company on Wednesday said it had detected the “root cause” of the attack and was making... 

Ecuador's mining push in doubt as ‘radical’ foes stall projects

By: Bloomberg     20th March 2019 Ecuador has tethered its economic fortunes to a burgeoning mining industry. Now it just needs to get bureaucrats and community leaders on board. Local opposition and red tape are hindering plans to become a mining superpower that can rival other South American nations. Less than two years ago... 

Climate challenge harder than it seems, JP Morgan executive warns

By: Bloomberg     20th March 2019 The world isn’t cutting carbon emissions anywhere near quickly enough, a senior executive at JP Morgan Asset Management told clients this week – and changing that will require far harder choices than most people realise. In his annual 'Energy Outlook' report, Michael Cembalest, chairperson of... 

KGHM extends negotiations with union at Chilean copper mine

By: Reuters     20th March 2019 Miner KGHM will extend negotiations with a union at its Chilean copper mine Sierra Gorda, averting a strike, a union representative said on Tuesday. The company had until the end of Tuesday to request government mediation to help reach a deal with the union of 520 workers. 

Aeris makes a $575m offer for Glencore's CSA copper mine

By: Esmarie Iannucci     20th March 2019 ASX-listed Aeris Resources on Wednesday told shareholders that it had made diversified miner Glencore a $575-million offer to acquire the CSA copper mine, in New South Wales. The offer comprised a cash component of some $525-million and Aeris shares valued at $50-million, as well as a royalty... 

Poseidon launches Black Swan refurb

By: Esmarie Iannucci     20th March 2019 ASX-listed Poseidon Nickel has started the refurbishment of its Silver Swan decline, in Western Australia. The underground refurbishment of the Silver Swan decline will entail the upgrading of ground support, repair of the southern ventilation surface infrastructure, inspection of the northern... 

Sumitomo says Ambatovy nickel plant shut for 2 weeks in February

By: Reuters     20th March 2019 Japanese trading house Sumitomo Corp said on Wednesday its Ambatovy nickel plant in Madagascar was forced to shut for about two weeks in early February due to trouble at its hydrogen plant, and may miss its revised annual production target. Sumitomo owns a 47.7% stake in Ambatovy, while South... 

Two killed in accident at Glencore's Zambian mine

By: Reuters     19th March 2019 Two workers died in an accident at Glencore's Zambian operation Mopani Copper Mines (MCM) on Tuesday, prompting it to suspend production pending investigations, the company said. "All operations at the South Ore Body (shaft) have been suspended until further notice," the company said in a... 

Ahead of election, Polish lawmakers propose to cut copper tax

By: Reuters     19th March 2019 Lawmakers from Poland's ruling Law and Justice (PiS) party proposed on Tuesday to cut mining tax payments so that major copper producer KGHM could spend more money on investment. The mining levy, introduced in 2012 and calculated using a formula based on local production volumes and prices,... 

Hulamin reviews extrusions business, rolled products reaches record volumes 

By: Marleny Arnoldi     19th March 2019 JSE-listed aluminium supplier and exporter Hulamin’s rolled products division reported a “superb” manufacturing performance for the year ended December 31, 2018, increasing its sales by 6% to 228 000 t. This third consecutive year of record sales volumes from rolled products helped to offset... 

Hulamin reviews extrusions business, rolled products reaches record volumes

Antofagasta dividend better than expected, profit in line

By: Reuters     19th March 2019 Chilean copper miner Antofagasta announced a higher-than-expected dividend payout on Tuesday and reported a drop in annual core earnings that was in line with analysts' projections. The company lowered its final dividend by about 9% to 37c a share from last year, but topped the expectations of... 

Mincor strikes new deal with Nickel West

By: Esmarie Iannucci     19th March 2019 ASX-listed Mincor Resources has signed an offtake term sheet with the Nickel West division of mining major BHP. The term sheet will form the basis for a binding ore tolling and concentrate purchase agreement, which will replace the 20-year agreement that Mincor had with Nickel West, which... 

Chile enviro court ruling on Pascua-Lama closure overturned

By: Marleny Arnoldi     18th March 2019 The Supreme Court of Chile has overturned an Environmental Court order to permanently close the stalled Pascua–Lama project, which straddles the Andes mountains with Argentina. The Supreme Court last week annulled the October 2018 administrative decision of the Antofagasta Environmental Court on... 

Chile enviro court ruling on Pascua-Lama closure overturned
Photo by Reuters
Barrick's Pascua-Lama project, in Chile

M&R Cementation awarded Palabora ventilation shaft contract

By: Marleny Arnoldi     18th March 2019 Mining contractor Murray & Roberts (M&R) Cementation has been awarded a contract by Palabora Mining Company for a 1 200 m deep ventilation shaft. The shaft, with a lined diameter of 8.5 m, will reach a final blind sink depth of 1 190 m before a drop raise takes it to its final depth.  

Hulamin expects 2018 headline earnings of 91c a share

By: Marleny Arnoldi     18th March 2019 JSE-listed aluminium supplier and exporter Hulamin expects to report a 4% year-on-year decrease in headline earnings a share to 91c for the year ended December 31, 2018. In anticipation of reporting its full-year results on March 19, the company on Monday said it expected to report a loss a... 

Deripaska sues over US sanctions, claims $7.5bn loss

By: Bloomberg     18th March 2019 Russian billionaire Oleg Deripaska is fighting back in a US court against American sanctions that he said are unfairly destroying his global businesses and are based on unproven allegations about his close ties to the government of Russian President Vladimir Putin. Deripaska, who made his... 

Deripaska sues over US sanctions, claims $7.5bn loss
Oleg Deripaska

African Battery Metals buys a stake in Katoro

By: Marleny Arnoldi     15th March 2019 London-listed African Battery Metals (ABM) has acquired an interest in London-listed Katoro Gold and further entered into an option agreement to acquire an interest in Katoro’s Haneti nickel project, in Tanzania. Under the terms of the agreements, ABM will be acquire up to ten-million new... 

KGHM does not plan to sell Sierra Gorda mine - CEO

By: Reuters     15th March 2019 Polish mining company KGHM does not plan to sell its Sierra Gorda copper mining project in Chile, its CEO said on Friday. Marcin Chludzinski also said State-controlled KGHM, one of the world's biggest copper miners, does not currently see any further writedowns on foreign assets, after... 

A mini-solar farm is floating in a dam of liquid copper waste

By: Bloomberg     15th March 2019 Chile has found another use for dams that hold the liquid waste from massive copper-mining operations: power generation. Calling it the first project of its kind in the world, Anglo American has installed 256 photovoltaic panels at the tailings dam for its Los Bronces complex in Chile. 

A mini-solar farm is floating in a dam of liquid copper waste

Huge demand for copper, cobalt, lithium and nickel in the offing as EV uptake increases

By: Tracy Hancock     15th March 2019 Investors focused on the mining sector may not fully appreciate how quickly the electric vehicle (EV) is being adopted globally, in light of the world pursuing a low-carbon emissions future, says battery metals investment vehicle Colbalt 27 Capital chairperson and CEO Anthony Milewski, who warns... 

Huge demand for copper, cobalt, lithium and nickel in the offing as EV uptake increases

Junior miner gets new lease of life with successful refinancing process

By: Rebecca Campbell     15th March 2019 London AIM-listed junior miner African Battery Metals (ABM) announced early this month that it had successfully concluded its refinancing process. Last December, ABM was suspended from trading on the AIM because of its poor financial situation. At that time, its obligations to short-term... 

Ecuador issues enviro permit for Bramaderos copper/gold project

By: Creamer Media Reporter      14th March 2019 The Ecuador Ministry of Environment has issued an environment licence to the Bramaderos gold and copper project, paving the way for diamond drilling to get under way in the next two to three weeks. TSX-V-listed Cornerstone Capital Resources owns the Bramaderos project and ASX-listed Sunstone... 

Vedanta to shut Namibian zinc refinery for five weeks

By: Reuters     14th March 2019 Vedanta Zinc International, a unit of diversified miner Vedanta Resources, said on Thursday it would close its Skorpion Zinc Refinery in Namibia for five weeks after a strike by its mining contractor depleted stocks. "During the strike period, the Skorpion Refinery continued to run which led to... 

Horizonte reports positive results from Vermelho testwork

By: Creamer Media Reporter      14th March 2019 Metallurgical and smelting test work conducted on dual-listed Horizonte’s Vermelho nickel/cobalt project has returned positive results, confirming the project’s potential to produce high-grade, commercial specification ferronickel from saprolite and transition ore. Vermelho is Horizonte’s second... 

Nornickel sale shows taste for Russian stock deals

By: Bloomberg     13th March 2019 Roman Abramovich’s sale of a stake in Russia’s biggest mining company shows investor appetite for the country’s assets is returning. Crispian Investments, a company controlled by Chelsea Football Club owner Abramovich and his partners, increased the size of the offering in MMC Norilsk Nickel to... 

Ausgold and Great Boulder form JV

By: Esmarie Iannucci     13th March 2019 Juniors Great Boulder Resources and Ausgold have inked a joint venture (JV) agreement over the Winchester nickel/copper project, in Western Australia. Under the terms of the agreement, Great Boulder could earn up to a 75% interest in the project by spending A$500 000 over a four year period. 

Northern Dynasty raises $10m, still looking for Pebble partner

By: Mariaan Webb     13th March 2019 Vancouver-based Northern Dynasty has raised $10-million to further advance the Pebble project, in the US state of Alaska, the company announced on Tuesday. Northern Dynasty has entered into an agreement with lead underwriter and bookrunner Cantor Fitzgerald Canada, on behalf of a syndicate of... 

Northern Dynasty raises $10m, still looking for Pebble partner
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