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Base Metals News

Artemis completes Radio Hill buy

By: Esmarie Swanepoel     Updated 3 hours ago ASX-listed junior Artemis Resources has completed the acquisition of the Radio Hill nickel/copper/cobalt project in Western Australia, along with $2-million of overseas institutional funding. In order to fund the Radio Hill acquisition, Artemis entered into a $2-million funding agreement by way... 

Consulting engineering’s viability proportional to mining’s growth

By: Nadine James     28th April 2017 The consulting engineering industry’s sustainability and growth are largely dependent on and proportional to the mining industry’s sustainability and growth respectively, says industry body Consulting Engineers South Africa (Cesa). Cesa CEO Christopher Campbell notes that the success or decline... 

Consulting engineering’s viability proportional to mining’s growth
CHRISTOPHER CAMPBELL The current impasse between South Africa’s government and its mining industry needs to be resolved

Greater emphasis on ensuring sustainability

By: Nadine James     28th April 2017 Engineering expertise can be used to generate socioeconomic gains for mining companies, particularly in jurisdictions that are dependent on the finite business of mineral extraction, states global engineering and infrastructure advisory firm Aurecon, an adviser to the African mining sector.... 

Greater emphasis on  ensuring sustainability
ECONOMIC TRANSFORMATION Engineering innovation could transform mining assets into new business opportunities

Heavy rainfall hits production at Namibia’s Tschudi copper mine

By: Ilan Solomons     28th April 2017 Copper mining company Weatherly International (WTI) CEO Craig Thomas has provided an update for copper cathode production in the March quarter for the company’s Tschudi openpit copper mine, in Namibia. He says that as the mine’s openpits have progressed deeper, the proportion of mixed oxide and... 

Heavy rainfall hits production at Namibia’s Tschudi copper mine
TSCHUDI MINE, NAMIBIA The mine’s openpits have progressed deeper with the proportion of mixed oxide and sulphide ore mined having increased as expected

Internship to benefit more students

By: Nadine James     28th April 2017 Alberton-based wear solutions company Rio-Carb plans to expand its internship programme, aimed at preparing second-year engineering students for their careers, in the near future. With two students having completed the internship programme, launched last year, the Chromium Carbide (CrC) plate... 

Internship to benefit more students
SOUND INVESTMENT Promising students will be offered an opportunity for full-time employment at Rio-Carb upon successful completion of their studies

Mining consulting outlook stable to positive – consultancy

By: Nadine James     28th April 2017 The short-term outlook for the mining consulting industry is “stable to positive”, says SRK Consulting, a firm of consulting engineers and scientists. SRK partner and principal consultant Andrew van Zyl stresses that the South African economy is still in a transitional phase which – combined with... 

Mining consulting outlook stable to positive – consultancy
ANDREW VAN ZYL Increasingly complex deposits will require thorough and expert technical knowledge, increasing the need for mining consultants

Optimisation tools up probability of success

     28th April 2017 In today’s world of constrained capital, engineering, procurement and construction consultant WorleyParsons notes that clients in the mining sector are seeking ways to improve returns while reducing their exposure to risk, particularly those companies who need to make strategic decisions on... 

Optimisation tools up probability of success
AIDING DEVELOPMENT Advisian acts as lenders’ independent technical and environmental adviser for nonrecourse project finance, export credit agency finance and structured trade commodity finance

Votorantim zinc smelter workers in Peru plan strike

By: Reuters     27th April 2017 Workers at Brazilian group Votorantim's Cajamarquilla zinc smelter, in Peru, plan to start an indefinite strike on May 6, demanding a bigger share of profits and better working conditions, a union leader said on Thursday. The union of 350 workers plans its first strike in 16 years, saying the... 

Kaz Minerals first quarter copper output more than doubles

By: Reuters     27th April 2017 Copper miner Kaz Minerals said its first-quarter copper production more than doubled from a year earlier, helped by output from its new Bozshakol and Aktogay mines, in Kazakhastan. The company's stock rose as much as 4.9% to £5.025 on the London Stock Exchange, making it the top FTSE midcap gainer. 

Vale stocks trade lower as slower sales offset improved iron pricing

By: Henry Lazenby     27th April 2017 The world’s most prolific producer of iron-ore, Vale, on Thursday reported first-quarter earnings that disappointed investors, sending its NYSE-listed stock falling as much as 5.4% in early trading. The Rio de Janeiro, Brazil-based diversified miner reported net income totalling $2.49-billion... 

Vale stocks trade lower as slower sales offset improved iron pricing
Photo by Vale
Physical progress on the doubling of the S11D project railway reached 66% in the first quarter

DeGrussa plant maintenance results in decreased production for Sandfire

By: Esmarie Swanepoel     27th April 2017 Copper-gold producer Sandfire Resources has reported a slight decline in production during the March quarter, on the back of two planned maintenance shut downs of the Sandfire plant, in Western Australia. Copper production during the March quarter declined form 18 130 t to 16 256 t, compared... 

Sherritt narrows Q1 headline loss

By: Henry Lazenby     27th April 2017 Canadian diversified miner Sherritt International has increased headline earnings in the March quarter as significantly higher nickel, cobalt and oil prices boosted the bottom line. The Toronto-based company reported a loss, adjusted for special items, totalling C$82.7-million, or C$0.25 a share... 

Arconic sheds Alcoa stake through debt-for-equity swap

By: Reuters     27th April 2017 Specialty metals maker Arconic Inc said on Wednesday it would exit its stake in Alcoa Corp through a debt-for-equity swap with two of its creditors. Arconic said it would exchange the nearly 13-million Alcoa shares it owns for debt held by Citigroup Global Markets and Credit Suisse Securities... 

Higher prices revive Capstone outlook for Minto mine

By: Henry Lazenby     27th April 2017 Vancouver-based base metals producer Capstone Mining believes that copper prices have risen and stabilised enough to warrant it keeping the Minto mine, in Canada’s Yukon Territory open until at least 2020, and perhaps beyond. The company has been threatening to close the mine because of low metal... 

South Deep output 43% down, costs 56% up – Gold Fields

By: Martin Creamer     26th April 2017 Quarter-on-quarter gold production at the South Deep gold mine fell 43% in the first three months of 2017, when costs soared 56%, Gold Fields reported on Wednesday. All-in costs (AIC) at the mechanised mine, located 45 km southwest of Johannesburg, rose to a high level of $1 821/oz in the first... 

South Deep output 43% down, costs 56% up – Gold Fields
Photo by Duane Daws
Gold Fields CEO Nick Holland

Riots hit major bauxite mining hub in Guinea

By: Reuters     26th April 2017 Riots have paralysed a major bauxite mining hub in Guinea, Africa's top producer, as residents erected barricades and burned tyres to protest against high pollution levels and power cuts, government and company officials said on Tuesday. The unrest broke out on Monday night in the city of Boke,... 

Western Areas hopes for stellar year

By: Esmarie Swanepoel     26th April 2017 Nickel miner Western Areas is tracking at the upper end of its full-year guidance following a strong March quarter, with the miner also reporting its lowest unit cash costs since June 2015. The total tonnes of nickel-in-concentrate produced during the March quarter dropped slightly from 5 844 t... 

Russian mining tycoons eyeing return to London's stock market

By: Bloomberg     26th April 2017 For three years, Russian companies retreated from the London stock market. Now, a pair of oil and mining-billionaires is hoping to break the drought. En+ Group, owned by aluminium magnate Oleg Deripaska, and Polyus PJSC, a gold producer controlled by the family of Suleiman Kerimov, are planning... 

Newmont’s Q1 results surprise to the upside as output, prices rise

By: Henry Lazenby     26th April 2017 US gold major Newmont Mining has surprised investors by beating average consensus estimates during the first quarter ended March, as the miner reported improved output and prices, which were slightly offset by higher costs. The Denver, Colorado-based miner reported net income from continuing... 

FCX stock rises on interim Indonesia export deal despite earnings miss

By: Henry Lazenby     26th April 2017 The NYSE-listed stock of US-based diversified miner Freeport-McMoRan (FCX) on Tuesday closed 7.11% higher despite the miner reporting earnings below analyst forecasts, as investors were pleased with the company reporting resumed copper concentrate exports from Indonesia following a three-month... 

FCX stock rises on interim Indonesia export deal despite earnings miss
Photo by Reuters
Freeport has taken actions to adjust its cost structure, reduce its workforce and slow significant investments in its underground development projects and new smelter at Grasberg, Indonesia

Elliott spurns offer, forging ahead with Arconic proxy fight

By: Reuters     25th April 2017 Tensions between Elliott Management and specialty metals maker Arconic Inc escalated on Tuesday, as the hedge fund spurned a truce offered by the company and urged shareholders to elect all four of its director nominees. Elliott's latest letter to shareholders came a day after Arconic said it was... 

Zambia said to near mine company stake sale to Israeli investor

By: Bloomberg     25th April 2017 Zambia, Africa’s second-biggest copper producer, is close to selling a stake in ZCCM Investments Holdings, a State controlled mine holding company, for more than $100-million, according to three people familiar with the matter. Sapir Capital, an Israeli private equity company that’s invested in... 

Africa urged to transform dependence on commodities

By: African News Agency      25th April 2017 Even as the world emerges from the worst of the global commodity price meltdown, African countries were urged on Tuesday to make the most of the next upward cycle to diversify and industrialise away from over-reliance on exports of raw materials. In a statement, Dr Martyn Davies, Deloitte... 

Teck’s earnings rise on higher coal price

By: Henry Lazenby     25th April 2017 Canadian diversified miner Teck Resources on Tuesday posted adjusted first-quarter profit of C$671-million, or C$1.16 a share, a significant increase on the C$18-million, or C$0.03 a share reported a year earlier, but falling short of analyst forecasts calling for earnings a share of C$1.29. The... 

Alcoa off to a strong start as independent firm

By: Mariaan Webb     25th April 2017 US aluminium producer Alcoa is off to a strong start as an independent company, with the firm on Monday reporting first-quarter revenue and profit growth on stronger alumina and aluminium prices. Alcoa posted net income of $225-million, or $1.21 a share, in the first quarter of 2017, compared... 

Barrick Gold cuts gold production forecast at Argentina mine

By: Mariaan Webb     25th April 2017 Toronto-based miner Barrick Gold’s shares fell nearly 4% in after-hour trade on Monday, after the group lowered its production forecast and increased its cost guidance at its Veladero mine, in Argentina. The mine, where authorities suspended the addition of cyanide to the heap leach process... 

Barrick Gold cuts gold production forecast at Argentina mine
The Veladero mine in Argentina

Miners told to move DRC HQs as provinces compete for revenue

By: Bloomberg     25th April 2017 The Democratic Republic of Congo told local units of Glencore, China Molybdenum, Ivanhoe Mines and four other mining companies to relocate their head offices as newly demarcated provinces fight over tax revenue and control of mineral projects. The companies, all headquartered in Lubumbashi, the... 

Jan Nelson heading up copper explorer

By: Mariaan Webb     24th April 2017 Former Xtract Resources and Pan African Resources CEO Jan Nelson has joined Handa Copper – a TSX-V-listed company focusing on prospects in Africa – as CEO. Nelson, who quit as Aim-listed Xtract CEO in September last year, will head up the exploration company’s new management team, which will be... 

Congo nears Eskom power-supply contract to boost copper output

By: Bloomberg     24th April 2017 The Democratic Republic of Congo (DRC) signed a provisional agreement to import power from South Africa that could boost copper production this year by as much as 20%, according to the country’s chamber of mines. State-owned power company SNEL proposed importing 200 MW from South African utility... 

Anglo American achieves strong Q1 operational performance

By: Megan van Wyngaardt     24th April 2017 Diversified major Anglo American, led by CEO Mark Cutifani, posted a strong operational performance in the quarter ended March 31, with higher output achieved for most of its products, except copper and nickel. South African coal production increased 9% to five-million tonnes in the first quarter... 

Anglo American achieves strong Q1 operational performance
CEO Mark Cutifani

Syndicated sells Barbara copper project to JV partner

By: Esmarie Swanepoel     24th April 2017 ASX-listed Syndicated Metals has agreed to sell its 50% interest in the Barbara copper project, in north Queensland, to its joint venture partner CopperChem for A$2.3-million in cash and a net smelter royalty of between 1% and 2% on the first 10 000 t of copper-in-concentrate produced, subject to... 

Freeport collects export permit after Pence visit

By: Reuters     23rd April 2017 Freeport McMoRan collected a permit to resume copper exports from Indonesia on Friday after a hiatus of more than three months, hours after a state visit by US Vice President Mike Pence, who discussed the copper miner's dispute with Jakarta. Indonesia's Trade Ministry issued Freeport with a... 

Freeport collects export permit after Pence visit
US Vice President Mike Pence and Indonesian President Joko Widodo

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

By: Henry Lazenby     22nd April 2017 ‘Big money’ investors are increasingly looking to invest in the relatively small ‘new-age metals’ space, comprising metals such as lithium, graphite and cobalt, as strengthening fundamentals for these minerals and an unprecedented high-impact investment opportunity draw the potential for bonanza... 

Strengthening fundamentals continue to bolster ‘new age’ metals outlook

BMI expects gradual price recovery for industrial metals

By: Megan van Wyngaardt     21st April 2017 Since bottoming out in early 2016 and staging an impressive, albeit largely speculative, rally over the past year and a half, industrial metals will experience a gradual price recovery over the coming years, as improving fundamentals support a stabilisation, rather than rebound, in prices,... 

Oz hikes Carrapateena budget to A$90m

By: Esmarie Swanepoel     21st April 2017 Copper and gold miner Oz Minerals has further cemented its plans for the Carrapateena copper/gold project, in Western Australia, increasing the project’s current budget to A$90-million. At the end of March, some A$53-million had already been spent, with a further A$37-million to be spent on... 

Las Bambas proves a winner for MMG

By: Esmarie Swanepoel     21st April 2017 The Las Bambas operation, in Peru, has set a new copper production record for base metals miner MMG, with production in the March quarter reaching 111 314 t. The March quarter production was a 6% improvement on the fourth quarter of 2016, and has delivered its third consecutive quarter of... 

Pence discusses barriers to US companies with Indonesian President

By: Reuters     21st April 2017 US Vice President Mike Pence said on Friday he discussed with Indonesian President Joko Widodo barriers to US companies operating in Southeast Asia's largest economy. Pence arrived in Jakarta late on Wednesday to boost a strategic partnership between the world's second- and third-largest... 

Despite adverse weather, Vale reports Q1 iron-ore record

By: Henry Lazenby     21st April 2017 The world’s largest iron-ore producer Vale has lifted production of the steel-making ingredient to a new record high in the first quarter ended March, touching 86.2-million tonnes despite inclement weather. The diversified miner boosted iron-ore output by 11.2% over the comparable quarter of... 

Despite adverse weather, Vale reports Q1 iron-ore record
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