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Base Metals News

Peru economy grew 3.22% year-on-year in Nov – govt

By: Reuters     Updated 3 hours ago Peru's economy grew by 3.22% in November from the same month a year ago, beating expectations, with strength in sectors including mining and manufacturing outweighing a slide in construction, government data showed on Monday. The annualised economic growth rate was 4.14% in November, state... 

Despite further expected delay to RoF development, Noront exploration guns for gold

By: Henry Lazenby     Updated 4 hours ago Despite reporting progress being made with discussions between stakeholders, the largest landholder in the emerging Ring of Fire (Rof) mining camp of Northern Ontario Noront Resources said Tuesday it expects further delay to development of its cornerstone Eagle’s Nest mine. The precious and base... 

UBC researchers develop flowsheet for LED bulb recycling

By: Henry Lazenby     Updated 4 hours ago Researchers at the University of British Columbia (UBC) have developed a flowsheet to successfully extract copper, lead, zinc, silver and small amounts of rare earth metals including lutetium, cerium and europium, as well as the ‘technology metals’ gallium and indium from discarded light-emitting... 

UBC researchers develop flowsheet for LED bulb recycling
Photo by University of British Columbia
Mineral processing engineer Maria Holuszko and her PhD student Amit Kumar

Ongoing exploration to further boost Atalaya copper output

By: Megan van Wyngaardt     17th January 2017 Dual-listed Atalaya Mining produced 26 179 t of copper in 2016, in line with its guidance, boosted by average copper recoveries of 83.29% at its 100%-owned Proyecto Riotinto mine in Andalucía, Spain. The miner on Tuesday reported that it had produced 8 938 t of copper in the last quarter of the... 

Galileo to start Concordia drill programme

By: Natasha Odendaal     17th January 2017 Aim-listed Galileo Resources plans to start a drilling programme at its Concordia copper project, in the Northern Cape, during the first quarter of 2017. This follows the exploration and development mining company’s consolidation of the final geophysics data reports by consultants GeoSpec... 

Rio Tinto hits 2016 production target, keeps 2017 guidance

By: Esmarie Swanepoel     17th January 2017 Mining giant Rio Tinto has delivered a strong production quarter in the three months to December, helping the group to achieve its targeted iron-ore shipments for 2016. Australia’s largest iron-ore miner produced 85.5-million tonnes in the fourth quarter, taking 2016’s production to 329.5-million... 

Rio Tinto hits 2016 production target, keeps 2017 guidance
Rio Tinto CEO Jean-Sebastien Jacques

‘No better time in commodity cycle to get into copper/gold’ – Broadway chair

By: Henry Lazenby     17th January 2017 There is no better time in the commodity price cycle to get into the copper/gold space than the present, says Montana-focused project developer Broadway Gold chairperson Duane Parnham. Speaking to Mining Weekly Online during an interview, the mining veteran pointed out that an analysis of the... 

‘No better time in commodity cycle to get into copper/gold’ – Broadway chair
Photo by Duane Daws
Broadway Gold chairperson Duane Parnham

Plant shutdowns impact Vedanta's Q3 output

By: Megan van Wyngaardt     16th January 2017 Despite lower output at its zinc operations in the third quarter of the current financial year, diversified miner Vedanta Resources says it is still on track to achieve its stated guidance of higher mined metal production for the full year. Its total production across operations for the quarter... 

Plant shutdowns impact Vedanta's Q3 output

Victoria expects ‘positive outcome’ on Alcoa Portland talks soon

By: Esmarie Swanepoel     16th January 2017 Aluminium major Alcoa and the federal and Victorian governments are continuing discussions over the future of the Portland smelter, with the state government saying that significant progress has been made. “All parties are committed to working towards finalising a positive outcome in the very... 

Victoria expects ‘positive outcome’ on Alcoa Portland talks soon

Five mining legends to be inducted to Canadian hall of fame

By: Creamer Media Reporter      13th January 2017 The Canadian Mining Hall of Fame will induct five mining celebrities into the list of extraordinary mining leaders at the annual dinner to be held for the first time at the Metro Toronto Convention Centre. According to a news release, Canadian mining celebrity Robert McEwen leads the list of... 

In Peru, a smelter's future stirs fears of its toxic past

By: Reuters     13th January 2017 Peruvian President Pedro Pablo Kuczynski's efforts to revive a nearly 100-year-old smelting complex could overcome a crucial hurdle at a coming auction where five companies have shown interest in placing bids. But celebration is far from universal given the sprawling smelter's toxic legacy and... 

Federal funding for new Tlicho all-season road a boost for Fortune’s Nico project

By: Henry Lazenby     13th January 2017 Federal funding for up to 25% of the construction costs for a new 97 km all-season road connecting Highway 3 to the community of Whati, in the Northwest Territories, augers well for project developer Fortune Minerals’ endeavours to secure financing for its nearby Nico cobalt/gold/bismuth/copper... 

Stellar looks at sorting options for Heemskirk

By: Esmarie Swanepoel     12th January 2017 Metals developer Stellar Resources is investigating ore sorting technology at the Heemskirk tin project, in Tasmania. The junior reported on Thursday that an initial X-ray sorting test programme, using drill core from the Severn and Lower Queen Hill deposits, was able to identify and separate... 

Congo Minister says Glencore can buy Gertler’s copper mine stake

By: Bloomberg     12th January 2017 The Democratic Republic of Congo’s Mines Ministry said it wouldn’t oppose a transfer of ownership in the country’s biggest copper and cobalt producer, marking a departure from previous actions to block or tax changes in shareholding structures. Glencore said last week it’s considering increasing... 

Congo Minister says Glencore can buy Gertler’s copper mine stake

Indonesia says Freeport, other miners halt exports

By: Reuters     12th January 2017 Freeport-McMoRan and other miners have halted Indonesian shipments of copper concentrates to abide by a government ban on semi-processed metal ore exports that took effect on Thursday, a mining ministry official told Reuters. The stoppage could prove to be brief though as President Joko Widodo's... 

UAE serves arbitration notice to India for failure to offer bauxite

By: Ajoy K Das     12th January 2017 The Indian government has been served with a notice for international arbitration by the United Arab Emirates (UAE's) Ras Al-Khaimah Investment Authority (RAKIA) seeking compensation of $44.71-million or immediate fulfilment of commitment for the supply of bauxite and alumina for a planned... 

BHP wage showdown has copper watchers weighing strike risk

By: Bloomberg     12th January 2017 A wage negotiation at the world’s top copper mine is showing the downside for producers of recovering prices: workers want their share. Talks began in earnest Tuesday at BHP Billiton’s Escondida mine in Chile. In a preliminary phase of the collective-bargaining process, management rejected... 

Hits and misses as production reports roll in

By: Henry Lazenby     11th January 2017 Several North American miners issued fourth-quarter and full-year 2016 production reports on Wednesday, with some reporting better-than-expected results and others missing the mark. TSX- and NYSE MKT-listed streaming and royalty firm Sandstorm Gold sold record volume of 13 200 attributable... 

Hits and misses as production reports roll in

Mexico's industrial production flat as mining slumps

By: Reuters     11th January 2017 Mexican industrial output was flat in November as factory production rose to its fastest pace in nearly a year but mining shrank, Mexico's national statistics office said on Wednesday. Mexican industrial production was unchanged compared to the prior month, data showed, and down from a 0.2%... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Tiger delivers on revised production promises

By: Esmarie Swanepoel     11th January 2017 ASX-listed copper miner Tiger Resources has achieved its targeted production at the Kipoi project, in the Democratic Republic of Congo. The miner reported on Tuesday that 23 119 t of copper cathode was produced at Kipoi during 2016, which was within the revised guidance of between 23 000 t and... 

Kincora advances Mongolian porphyry discovery

By: Henry Lazenby     10th January 2017 Exploration work by TSX-V-listed Kincora Copper has confirmed that its East Tsagaan Suvarga (East TS) target is a mineralised porphyry system with comparable geochemistry, magma fertility and age to that of other developed projects in the same mineral belt, including the massive Oyu Tolgoi and... 

Drilling at Zambia project delivers ‘encouraging’ results for BMR

By: Creamer Media Reporter      10th January 2017 Aim-listed BMR Group has reported “extremely encouraging” results from a drilling programme at its Kashitu project, in Zambia. Sample drilling of 183 holes had allowed BMR to delineate three distinct surface mineralised zones, including a 900 m by 300 m area with mineralisation at greater than 1%... 

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

Sumatra hits production targets in Indonesia

By: Esmarie Swanepoel     10th January 2017 ASX-listed Sumatra Copper & Gold has hit its production targets for 2016, with the miner producing 30 509 gold equivalent ounces from its Tembang gold/silver operation, in Indonesia. “Despite the considerable challenges experienced during 2016, meeting production guidance for our first full-year... 

MMG hedges on higher prices

By: Esmarie Swanepoel     10th January 2017 Metals miner MMG has taken advantage of the strong increase in copper prices during the fourth quarter of 2016, hedging some 112 000 t of copper at a net price of $2.50/lb. The company said this week that the decision to enter into the hedging was considered in the best interest of MMG, and was... 

Taseko rides ‘ideal scenario’ as output rises

By: Henry Lazenby     9th January 2017 Base metals producer Taseko Mines is finding itself in an “ideal scenario”, as higher full-year and fourth-quarter production, lower costs and higher copper prices conspire to boost its balance sheet. The Vancouver-based miner, which owns a 75% stake and operates the Gibraltar copper/molybdenum... 

Australia offers financial support for crippled Alcoa aluminium plant

By: Reuters     9th January 2017 The Australian government has offered "substantial" financial support to help repair Alcoa's aluminium smelter in Victoria that was crippled last month by a state-wide blackout, government Ministers said on Monday. The outage, which caused molten aluminium to solidify, disrupted some production... 

Refined nickel prices under pressure as output forecast to rise 

By: Henry Lazenby     7th January 2017 Refined nickel prices will remain under pressure in the coming weeks as the impending moderation of Indonesia's mineral ore export ban and consequent resumption of nickel exports will increase global nickel supply, new analysis by Fitch-affiliated BMI Research has shown. According to a report... 

Refined nickel prices under pressure as output forecast to rise
Photo by Reuters
Nickel ore

Glencore mulls bigger stake in Mutanda Mine in DRC

By: African News Agency      6th January 2017 Glencore said on Friday that it was considering options to take a bigger stake in the Mutanda Mine, a copper and cobalt mine in the Democratic Republic of Congo. The global mining company said the announcement to shareholders was being made in response to queries from the media. It said it would... 

Corboda Minerals reports maiden resource for Alacran copper/gold project, Colombia

By: Henry Lazenby     5th January 2017 Junior explorer Corboda Minerals, in collaboration with High Power Exploration (HPX), a private mineral exploration company indirectly controlled by billionaire mining entrepreneur Robert Friedland's Ivanhoe Industries, have announced a maiden resource estimate on the Alacran copper/gold project,... 

Corboda Minerals reports maiden resource for Alacran copper/gold project, Colombia

Central Asia Metals reports record FY copper output

By: Henry Lazenby     5th January 2017 Small-scale Aim-listed copper producer Central Asia Metals has reached a new full-year production record in 2016 as the Kounrad dump leach, solvent extraction and electro-winning copper recovery plant in Kazakhstan ramps up. The London, England-based company reported record output during 2016,... 

Central Asia Metals reports record FY copper output

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

Tough labour talks could lead to strike at Escondida copper mine – union

By: Reuters     4th January 2017 Workers at BHP Billiton-owned Escondida, the world's biggest copper mine, could go on strike in February if collective contract talks with the company are unsuccessful, union spokesperson Carlos Allende told Reuters on Wednesday. Allende said that "clearly the company is creating an open... 

Zambia Vedanta mine workers strike over delayed pay talks

By: Reuters     4th January 2017 Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources, in a dispute over the pace of wage talks, a union official said on Wednesday. The stoppage at the Konkola mine in Chililabombwe in northern Zambia began... 

Alcoa to permanently shutter Suriname smelter

By: Henry Lazenby     4th January 2017 Aluminium producer Alcoa said Tuesday it will permanently close the Suralco aluminium smelter in Suriname, which has been languishing fully curtailed since November 2015. Pending completion of negotiations with the Suriname government regarding the Suralco’s remaining activities in the South... 

Alcoa to permanently shutter Suriname smelter

Polish copper firm KGHM should keep its foreign assets – minister

By: Reuters     3rd January 2017 Poland's KGHM, which is one of the world's biggest copper producers, should not sell its foreign assets, Polish minister Henryk Kowalczyk said on Tuesday. The state-run and Poland-focused company invested overseas for the first time in 2011 when it bought Canada's Quadra FNX, for C$2.87-billion... 

Polish copper firm KGHM should keep its foreign assets – minister

US factory activity hits two-year high as orders surge

By: Reuters     3rd January 2017 US factory activity accelerated to a two-year high in December amid a surge in new orders and employment, suggesting some of the oil-related drag on manufacturing was fading. Other data on Tuesday showed construction spending hitting a 10-1/2-year high in November, which could provide a lift to... 

US factory activity hits two-year high as orders surge
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