R/€ = 17.02 Change: -0.53
R/$ = 15.47 Change: -0.90
Au 1324.64 $/oz Change: 7.89
Pt 977.50 $/oz Change: -7.50

Base Metals News

Alumina files counterclaim against Alcoa

By: Mariaan Webb     Updated 7 hours ago Australian company Alumina has filed a counterclaim against US group Alcoa, which last month turned to a Delaware court to prevent its partner in Alcoa Worldwide Alumina and Chemicals (AWAC) from blocking a demerger plan. Alumina said on Monday that its counterclaim sought court declarations to... 

Metallica completes sale of Boyne limestone project

By: Samantha Herbst     27th June 2016 ASX-listed bauxite developer Metallica Minerals has completed the sale of its noncore Boyne limestone project, near Gladstone, Queensland, after a private group paid the agreed balance of $900 000. The private purchaser sought to acquire the two granted mining leases that formed the Boyne project... 

Bellhaven stock rises 20% on closing oversubscribed offering

By: Henry Lazenby     25th June 2016 Panama and Colombia-focused explorer Bellhaven Copper & Gold’s shares listed on the TSX-V jumped 20% on Friday after the company announced that its nonbrokered private placement offering of C$500 000, which was later increased to $620 000, owing to better-than-expected investor demand, had... 

Anglo American advancing in wage talks at Chile copper mines

By: Henry Lazenby     25th June 2016 Global mining company Anglo American said on Friday that it is progressing with wage negotiations at its flagship Los Bronces copper mine, in Chile, and is looking to finalise talks with workers at other operations in the country. This year, Anglo American needs to negotiate contracts with seven... 

Peru's Segura says Brexit impacts would be indirect, medium-term

By: Reuters     24th June 2016 Peru's outgoing Finance Minister Alonso Segura said on Friday that he was monitoring local markets after Britain's vote to leave the European Union, but he said economic impacts would likely be indirect and felt in the medium-term. "It's unfortunate," Segura told Reuters in an emailed statement.... 

First shipment of WA bauxite en route to China

By: Samantha Herbst     24th June 2016 Lightweight metals manufacturer Alcoa is celebrating its first shipment of Western Australia bauxite as part of an export trial approved by the state government last year. Perth-based Alcoa Mining president Garret Dixon noted that the milestone shipment – a 47 000-t parcel of bauxite bound for an... 

Metallica gets green light to move forward with Urquhart sans EIS

By: Samantha Herbst     24th June 2016 The Commonwealth Department of the Environment has determined that ASX-listed Metallica Minerals’ Urquhart bauxite project, in north Queensland, does not require an environmental impact assessment (EIS), as the impact of the project is considered minimal. “This major milestone confirms that the... 

PanAust lodges special mining lease application for Frieda River

By: Mariaan Webb     24th June 2016 China-owned PanAust has applied for a special mining lease for the Frieda River copper/gold project, in Papua New Guinea. MD Dr Fred Hess said on Friday that the lodgement of the application represented a crucial milestone in PanAust’s pursuit of organic growth. 

Commodities reel in world market tumult as UK votes for Brexit

By: Bloomberg     24th June 2016 Commodities were swept up in global market turmoil as investors sold off growth-related assets including oil and copper and sought haven in precious metals as UK voters opted to leave the European Union after more than four decades. The Bloomberg Commodities Index fell as much as 2%, the most in... 

Embracing technology key to success of the mine of the future

By: Mia Breytenbach     24th June 2016 For mining to be part of the twenty-first century, it has to create a range of benefits as part of the business model, have access to realistic commodity pricing models and must embrace technology, says University of the Witwatersrand (Wits) Mining Institute director Professor Fred Cawood says.... 

Embracing technology key to success of the mine of the future
Photo by Bloomberg
FUTURE MINE The trends around key mining industry issues could lead to possible futures characterised by an African mining boom

The MSA Group

     24th June 2016 Local mining consultancy The MSA Group provides exploration, geology, mineral resource, mining and environmental consulting solutions to a client base that includes some of the world’s largest multinational mining companies, as well as private equity and sovereign wealth funds, banks, governments... 

The MSA Group

Imperial Metals cleared to restart full production at ill-fated Mount Polley mine

By: Henry Lazenby     23rd June 2016 The British Columbia government on Thursday gave the owner of the now infamous Mount Polley copper/gold mine the thumbs up to restart full production. The August 2014 Mount Polley mine disaster, considered the worst mine disaster in Canadian history, released more than 25-million cubic metres of... 

Chile's Congress approves minimum wage hike proposal

By: Reuters     23rd June 2016 Chile's Congress approved on Thursday the government's proposal to gradually increase the monthly minimum wage by 26 000 pesos, nearly $39, to 276 000 pesos ($412) within 18 months. With the Lower House of Congress' approval, the minimum wage hike proposal is ready to be signed into law. 

Copper hits seven-week peak on optimism Britain will stay in EU

By: Reuters     23rd June 2016 Copper prices rose to their highest in seven weeks on Thursday as opinion polls indicating that Britons favour staying in the European Union boosted sentiment that was also reinforced by a weaker dollar. Benchmark copper on the London Metal Exchange (LME) gained 1.6% to $4 774/t by 15:00 GMT. It... 

Call for bargaining council to protect workers amid mining accidents in Botswana 

By: African News Agency      23rd June 2016 The Botswana Mine Workers Union (BMWU) has urged the government to set up a bargaining council to safeguard the welfare of workers who suffer crippling and fatal injuries while working in the mines. The call came after one Bamangwato Concession Limited (BCL) worker suffered a broken hip bone... 

Copper is just a bystander in commodities’ best start since 2008

By: Bloomberg     23rd June 2016 The best start to a year for commodities since 2008 is leaving copper in the dust. The metal is one of the weakest of the 22 raw materials in the Bloomberg Commodity Index of returns this year and the worst of the major metals. 

Copper is just a bystander in commodities’ best start since 2008

Zambia expects copper output to double next year

By: Reuters     23rd June 2016 Zambia's copper output will rise by 5.5% to 750 000 t this year and output is expected to double to 1.5-million tonnes in 2017, Mines Minister Christopher Yaluma said on Thursday. Copper production in Africa's second-biggest producer of the metal was at 711 515 t in 2015. 

China's Minmetals signs $3bn copper purchase agreement with Poland's KGHM

By: Reuters     22nd June 2016 State-owned metals trader China Minmetals Corp has agreed to buy copper from Poland's KGHM with a total contract value of $3 billion, the Chinese firm said in a posting on its website on Tuesday. The company did not disclose the volume of the contract or how long it would run. 

Cyprium finds high-grade zinc at Potosi silver mine, Mexico

By: Henry Lazenby     21st June 2016 Quebec-based explorer Cyprium Mining on Monday reported that samples taken from an oxidised zinc body on Level 14 of its 53%-owned Potosi mine, in Santa Eulalia, Mexico, have returned assay results averaging 37% zinc over a sample width of 1.53 m. The TSX-V-listed company reported that the... 

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

Ivanhoe confirms Kamoa’s high-grade Kakula extension, decline progress ahead of plan

By: Henry Lazenby     20th June 2016 The first six holes drilled by Africa-focused project developer Ivanhoe Mines confirm an expanded, thick, flat-lying, bottom-loaded zone of high-grade copper mineralisation at the southern part of the Kakula discovery of the Kamoa copper project, in the Democratic Republic of Congo. Ivanhoe’s... 

Ivanhoe confirms Kamoa’s high-grade Kakula extension, decline progress ahead of plan
Photo by Ivanhoe Mines
Kamoa drilling, Democratic Republic of Congo

WA’s EPA recommends conditional approval for new nickel mine

By: Creamer Media Reporter      20th June 2016 The Environmental Protection Authority (EPA) of Western Australia on Monday recommended that the Environment Minister approve the Wingellina nickel project, which ASX-listed Metals X was developing. EPA chairperson Dr Ton Hatton said the mine’s proposal was assessed at a high level of... 

Nevsun, Reservoir shareholders approve sweetened offer

By: Henry Lazenby     17th June 2016 The TSX-listed stock of base metals producer Nevsun Resources fell nearly 10% on Friday after the company announced a sweetened bid for Reservoir Metals that would give it control of a portfolio of development projects in Africa and Europe, including the flagship Timok copper/gold project, in... 

Nevsun, Reservoir shareholders approve sweetened offer
Photo by Nevsun Resources
Nevsun's Bisha mine, Eritrea

Women in mining urged to overcome petty differences to achieve ‘great things’

By: Ilan Solomons     17th June 2016 Women in mining (WIM) must overcome their “petty” differences to ensure that they achieve great things in the local mining industry, states Limpopo-based copper miner Palabora Mining Company human resources development and training manager Sisiwe Mthethwa. She told delegates at training and... 

Women in mining urged to overcome petty differences  to achieve ‘great things’
UNITED STAND More needs to be done to ensure that women work together to advance themselves in the mining sector

DRC's Gecamines plans Chinese joint venture at main asset

By: Bloomberg     16th June 2016 Gecamines, the Democratic Republic of Congo’s (DRC's) State-owned miner, is in talks to give China Nonferrous Metal Mining Group a majority stake in its most prospective copper asset. CNMC will finance, build and operate a copper-processing facility at the Deziwa concession in return for a 51%... 

First gold/copper shipment leaves Deflector

By: Mariaan Webb     16th June 2016 Gold producer Doray Minerals has dispatched its first consignment of gold/copper concentrate from the Deflector project, which recently achieved its first production. The first shipment from the Western Australia-based mine totalled about 500 dry tonnes of concentrate produced from oxide material... 

Ambatovy JV defers principal payment, Sherritt continues not to fund cash calls

By: Henry Lazenby     15th June 2016 Canadian diversified miner Sherritt International has announced that the group of lenders to its 40%-owned Ambatovy nickel and cobalt mine, in Madagascar, have entered into temporary agreement to defer a principal repayment due on Wednesday, to August 5. The Toronto-headquartered company said an... 

Peruvian mining volumes continue to grow as new president takes helm

By: Simon Rees     15th June 2016 The Peruvian mining industry is expected to spur renewed growth in the country as output grows, prices stabilise and revive, several speakers told a recent Peruvian-Canadian Chamber of Commerce economic outlook seminar. The recent Peruvian election was so close that the winner Pedro Pablo... 

Peruvian mining volumes continue to grow as new president takes helm
Photo by Reuters
Incoming Peruvian president Pedro Pablo Kuczynski

Mirabela enters liquidation as Santa Rita fails to attract bid

By: Mariaan Webb     15th June 2016 The Santa Rita mine of collapsed Australian junior Mirabela Nickel in Brazil has failed to attract an acceptable bid, resulting in the company being placed in liquidation. Receivers of Mirabela, which entered administration in September last year, started a sale process for the mine in October... 

Oz Minerals agrees to A$24m class action settlement

By: Mariaan Webb     15th June 2016 Adelaide-based miner Oz Minerals has agreed to pay A$24-million to settle class action proceedings brought against it by former shareholders of Zinifex. Zinifex merged with Oxiana in 2008 to form Oz Minerals. Zinifex shareholders claimed that Oz Minerals had failed to disclose information to the... 

China firms to fund Congo hydropower plant to lift mining output

By: Reuters     14th June 2016 China's Sinohydro and China Railway Group will finance a $660-million hydroelectric plant in southeastern Democratic Republic of Congo which is being built to reduce the copper-mining region's power deficit. Congo is Africa's largest miner of copper and the 240 MW dam in the town of Busanga will... 

Turquoise Hill climbs on speculation Rio may take it private

By: Bloomberg     14th June 2016 Turquoise Hill Resources Ltd. soared amid speculation that its controlling shareholder  Rio Tinto Group is preparing for a commodity-price recovery by increasing its stake in the company. Rio Tinto has hired Goldman Sachs Group Inc. to advise it as the world’s second-largest miner looks into the... 

Turquoise Hill climbs on speculation Rio may take it private

Australian magnate Palmer sues Queensland Nickel administrator

By: Reuters     14th June 2016 Australian magnate Clive Palmer on Tuesday sued the administrators of his nickel business for holding on to assets that he says belonged to the Queensland Nickel operation when he took back management control of it in March. The Queensland Nickel operation went into voluntary administration in... 

Australian magnate Palmer sues Queensland Nickel administrator
Clive Palmer

Big boost for South African mining as old Comro reopens  

By: Martin Creamer     13th June 2016 The revitalisation of the South African mining industry through the resuscitation of research and development (R&D) is under way as an outcome of the Mining Phakisa, a strategy forged by 120 government, company, union and nongovernmental participants, who last year spent five weeks working... 

Big boost for South African mining as old Comro reopens
Photo by Creamer Media
CSIR mining manager Navin Singh

Mine superpower status awaits Peru if new leader can woo farmers

By: Bloomberg     10th June 2016 Arriving late to the mining boom helped Peru defy a global freeze on project spending as prices plunged. Now the pipeline’s drying up, and the country’s chances of joining neighbouring Chile as a copper superpower depend largely on the next president’s affinity with remote communities. For Pedro... 

Legal discretion dogging mine safety inquiries – Webber Wentzel 

By: Martin Creamer     10th June 2016 The only certainty about current enforcement of South Africa’s Mine Health and Safety Act is consistent uncertainty, says Webber Wentzel partner Kate Collier. Addressing a seminar on the way the Department of Mineral Resources (DMR) approaches senior mine management in the aftermath of serious... 

Legal discretion dogging mine safety inquiries – Webber Wentzel
Photo by Duane Daws
Webber Wentzel partner Kate Collier

Escondida mine, Chile

By: Sheila Barradas     10th June 2016 A copper mine in the Atacama desert, in northern Chile. 

Escondida mine, Chile

Improving froth pumping solution

By: Sascha Solomons     10th June 2016 Specialist slurry equipment solutions provider Weir Minerals is introducing the next- generation WARMAN horizontal froth pump, which features a continuous air removal system that can be applied to the company’s froth pumps already in the market. This is in line with Weir Minerals’ focus on... 

Improving froth pumping solution
RUI GOMES Being able to develop and implement changes to produce greater efficiency is important in the pumps industry
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