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Base Metals News

Anglo finds returns outweigh risks as it renews Africa focus 

By: Bloomberg     7th November 2018 Anglo American is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns. The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent,... 

Large Canadian gold miners ‘to finish year strong’ despite lower prices – EY

By: Creamer Media Reporter      7th November 2018 Despite lower gold prices in the second and third quarters of the year, Canada’s large-cap gold companies are trending towards a stronger second half and most of them are looking to finish the year strong, EY Canada Mining and Metals transaction leader Jay Patel said on Tuesday. The gold price... 

Glencore's radioactive news may help give cobalt its buzz back  

By: Bloomberg     7th November 2018 Glencore’s sudden discovery that some of its cobalt is radioactive couldn’t come at a better time. After a surge in prices last year, enthusiasm for cobalt has been fading, partly because of a surge in new supply. But sentiment could be changing after Glencore’s unit in the Democratic Republic of... 

Glencore's radioactive news may help give cobalt its buzz back

Beowulf steps into new geography with Kosovo investment

By: Mariaan Webb     6th November 2018 Nordic-focused exploration company Beowulf Mining announced a £250 000 investment in private explorer Vardar Minerals to acquire a 14% stake, sending the London-listed miner’s stock up nearly 7%. The company has an option to make a further investment and increase its ownership in Vardar, which... 

Beowulf steps into new geography with Kosovo investment
The Mitrovica licence area in northern Kosovo.

AfriTin starts Phase 1 of drilling programme at flagship Uis mine

By: Simone Liedtke     6th November 2018 Aim-listed AfriTin Mining has started Phase 1 of the validation and drilling programme at its flagship asset, the Uis tin mine, in Namibia. Confirmatory drilling began on October 26, and is expected to continue until the first quarter of 2019. The planned programme is expected to comprise 3 950... 

Buxton adds to Merlin

By: Esmarie Iannucci     6th November 2018 Junior Buxton Resources has struck a deal with fellow-listed New World Cobalt to acquire its West Kimberley project, in Western Australia. The three tenements making up the West Kimberley project lie adjacent to Buxton’s own Merlin prospect, and are considered to be highly prospective for... 

Copper, gold mines now likely cheaper to construct than to buy

By: Reuters     5th November 2018 The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research. Data shared with Reuters support comments from major miners,... 

Rusal appoints CEO, Q3 profit up as sanctions postponed

By: Reuters     5th November 2018 Russian aluminium giant Rusal has appointed a chief executive, it said on Monday, after reporting a 42% jump in third-quarter recurring net profit on the previous quarter as sanctions imposed by Washington were postponed. The US Treasury Department in April blacklisted billionaire Oleg Deripaska... 

Rusal appoints CEO, Q3 profit up as sanctions postponed

Sibanye-Stillwater’s US operations in the midst of major growth phase 

By: Simone Liedtke     2nd November 2018 Sibanye-Stillwater’s Blitz project development area, which is adjacent to its Stillwater mine, in Montana, in the US, is in the midst of a significant growth phase, says executive VP for the US region Chris Bateman. He told the media in a conference call this week that the expanded Stillwater... 

Sibanye-Stillwater’s US operations in the midst of major growth phase

Zambia power system glitch cuts electricity supply to some mines

By: Reuters     2nd November 2018 Power supply to some mines in Africa's second-biggest copper producer was cut due to a technical fault, Zambian state power firm Zesco said on Friday. "We had a system disturbance which led to loss of power on the Copperbelt, including the mines," the utility's spokesman Henry Kapata said. 

South African company building new smelter in Zimbabwe

By: Victor Moolman     2nd November 2018 Foundry and engineering company Thos Begbie is working in the Great Dyke of Zimbabwe, close to the town of Shurungwi, where it is helping to construct the Unki platinum smelter, adjacent to a mining operation owned by platinum mining company Anglo American Platinum (Amplats). Thos Begbie was... 

South African company building new smelter in Zimbabwe
Photo by Duane Daws
ADVANCING UNKI SMELTER Thos Begbie has completed several parts of the Unki platinum smelter being constructed in Zimbabwe

Poor rail service strands Taseko copper

By: Mariaan Webb     2nd November 2018 Base metals miner Taseko increased its copper production by 28% quarter-on-quarter in the three months ended September 30, to 43-million pounds, but rail delays between the mine and the port terminal resulted in only 29-million pounds being shipped off. A total of 18.5-million pounds of copper... 

Shipping delay hits Copper Mountain Q3 results

By: Creamer Media Reporter      1st November 2018 The share price of Vancouver-based miner Copper Mountain fell to a 52-week low on Wednesday, after the company posted a third-quarter adjusted loss of C$8.31-million, after a shipping delay and lower prices hit revenue. The company explained that its revenue fell from C$77.15-million in the... 

Ecuador aims to more than double mining value to GDP by 2021

By: Reuters     1st November 2018 Ecuador, the world's shining light for copper prospects, aims to more than double the value of mining to its economy by 2021 and is seeking more joint venture partners for its state-owned mining company, a senior government official said on Thursday. Ecuador is being hailed as the biggest... 

Hudbay buys Nevada copper deposit despite shareholder pushback

By: Mariaan Webb     1st November 2018 Toronto-headquartered Hudbay Minerals has announced the acquisition of Mason Resources – the owner of the Mason Ann copper project in Nevada – for C$31-million, despite shareholder Waterton Global Resource Management previously requesting a moratorium on any near-term acquisitions. Announcing... 

Hudbay buys Nevada copper deposit despite shareholder pushback
Hudbay CEO Alan Hair

Mining veteran wants to build a $1bn battery metals giant

By: Bloomberg     1st November 2018 South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry. It’s still early days for his privately funded company, TechMet, which controls just a handful of assets from Canada to Rwanda. But he’s raising more... 

Mining veteran wants to build a $1bn battery metals giant
Photo by Reuters
Lithiium ion batteries

Nornickel says Q3 nickel output up 9% q/q

By: Reuters     31st October 2018 Russia's Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53 739 t in the third quarter of 2018, up 9% quarter-on-quarter. Nornickel, one of the world's largest nickel and palladium producers, also said its palladium production totalled 699 000 troy ounces,... 

Cradle Arc raises £396 000

By: Simone Liedtke     31st October 2018 Aim-listed Cradle Arc has raised £396 000, before expenses, by way of a conditional placing of 44-million new ordinary shares of 0.01p each in the capital of the company at a price of 0.90p a placing share. The proceeds of the placing will be used alongside the funding from the $2-million loan... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

Savannah restart under way

By: Esmarie Iannucci     30th October 2018 Nickel miner Panoramic Resources has inked a contract with ASX-listed Pacific Energy to restart an existing 12 MW diesel power station at the Savannah nickel/copper/cobalt mine, in Western Australia. The power station will be restarted from November 1, and will be immediately upgraded and... 

First Quantum lifts copper guidance, lowers gold forecast

By: Mariaan Webb     30th October 2018 Canada’s First Quantum Mines has upped its 2018 copper production guidance by 5% to 590 000 t, to reflect higher production from its two largest operations – Kansanshi and Sentinel, in Zambia. The Kansanshi mine increased its third-quarter output to 63 687 t, from 58 706 t in the prior-year... 

First Quantum lifts copper guidance, lowers gold forecast
First Quantum chairperson and CEO Philip Pascal

URU applies to renew Zebediela prospecting rights

By: Tasneem Bulbulia     29th October 2018 URU Metals has applied for the renewal of the prospecting rights that make up its Zebediela nickel project, in South Africa. The Department of Mineral Resources (DMR) has completed a site visit, a precondition of any prospecting rights renewal process and granted the renewal in principle for... 

Battery metal bulls fear China's big disrupter to hit nickel

By: Bloomberg     29th October 2018 Commodity traders expect nickel, the silvery-white metal used to make stainless steel, to be a winner from the electric-vehicle revolution -- it’s a key component of batteries. But a Chinese metals giant with a knack of upending markets is threatening to spoil the party. Tsingshan Holding Group... 

Horizonte focus shifts to funding as it ticks feasibility study box

By: Mariaan Webb     29th October 2018 Nickel company Horizonte Minerals has confirmed the economics of its Araguaia ferronickel project, in Brazil, with the completion of a feasibility study, setting up the company to advance offtake agreements and secure funding for the $443-million development. The Aim- and TSX-listed company aims... 

ERG forecasts strong metals price recovery

By: Marleny Arnoldi     29th October 2018 Diversified miner Eurasian Resources Group (ERG) forecasts a strong metals price recovery ahead, including for copper, cobalt, aluminium, ferrochrome and iron-ore. “Our view that commodities have fallen foul of wider macroeconomic concerns and the changing geopolitical landscape was confirmed... 

New Century readies for first shipment

By: Esmarie Iannucci     29th October 2018 Base metals miner New Century Resources has loaded the first zinc concentrate from its Century mine, in Queensland, for export. The first shipment will consist of 10 000 t of zinc concentrate, and will be delivered to smelters in China. 

Spend don't splurge, investors tell miners as M&A, capex surge

By: Bloomberg     29th October 2018 The world’s biggest miners are cranking up spending for the first time in half a decade as well as pursuing more takeovers – and investors are flashing hazard lights as commodities prices slide and as doubts swirl over the outlook. Capital expenditure among the ten largest metals and mining... 

Spend don't splurge, investors tell miners as M&A, capex surge

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments  

By: Terence Creamer     26th October 2018 President Cyril Ramaphosa declared an end to South Africa's proverbial 'investment strike', when he unveiled firm investment commitments of R290-billion across a diverse range of sectors, from mining and energy to infrastructure and manufacturing, at a well attended and vibrant investment... 

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments
President Cyril Ramaphosa

Metal Tiger, MOD JV prospecting licences extended

By: Marleny Arnoldi     26th October 2018 Aim-listed Metal Tiger’s joint venture (JV) with ASX-listed MOD Resources, situated in the Kalahari copperbelt in Botswana, has been granted two-year extensions on its prospecting licences by the Botswana licensing authority. These licences were due for renewal by December 31, and hold the T3... 

Glencore reports higher Q3 copper, cobalt output on Katanga restart 

By: Marleny Arnoldi     26th October 2018 Global diversified miner Glencore, which is led by CEO Ivan Glasenberg, produced 1.06-million tonnes of copper in the third quarter ended September 30 – a 12% year-on-year improvement. Additionally, the company produced 28 500 t of cobalt, which is 44% higher than that produced in the third... 

Glencore reports higher Q3 copper, cobalt output on Katanga restart
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Sibanye secures minimum 20% stake in Argentina copper/gold project 

By: Marleny Arnoldi     26th October 2018 JSE- and NYSE-listed precious metals miner Sibanye-Stillwater on Friday announced the conclusion of a transaction with Regulus Resources and the newly formed Argentinian subsidiary of Regulus, Aldebaran Resources, which was established to unlock value at its Altar copper/gold project, in San Juan... 

Nevsun ups guidance for Eritrea zinc/copper mine

By: Creamer Media Reporter      26th October 2018 Canadian base metals miner Nevsun Mining, which is being taken over by China’s Zijin Mining, has increased its 2018 zinc and copper guidance for the Bisha mine, following a strong third-quarter performance. The mine, in Eritrea, produced 69.6-million pounds of zinc in concentrate, compared with... 

Vedanta says investing $700m to $800m in South Africa smelter

By: Reuters     26th October 2018 Diversified miner Vedanta is investing up to $800-million in a zinc smelter in South Africa, the head of its zinc unit Deshnee Naidoo said at an investment summit in Johannesburg on Friday. Andile Sangqu, executive head of Anglo American South Africa, added at the same summit that his firm would... 

Saudi miner Ma'aden actively looking for overseas investments - CEO

By: Reuters     26th October 2018 Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, is actively looking for investment opportunities overseas that would complement and strengthen its business inside the kingdom, the company's CEO said on Thursday. Ma'aden, which mines gold and copper and has in recent years expanded... 

Vale expects jump in base metal performance in 2020

By: Reuters     26th October 2018 Brazil's Vale, the world's top iron-ore producer, is expecting major improvement in the performance of its base metals division in 2020 but said that production cuts would remain effect this year and next while prices remain low, executives said on Thursday. CEO Fabio Schvartsman forecast a... 

Surface miners drive up savings in coal mining

26th October 2018 Mine operators have been increasingly turning to an alternative to conventional rip-and-stack or drill-and-blast coal mining – the use of surface miners. Diverse studies and tests show that surface miners offer considerable advantages in terms of both economic efficiency and the final product. 

Surface miners  drive up savings  in coal mining
WIRTGEN 4200 SM Using Wirtgen surface miners delivers compelling improvements in final product quality, cost-efficiency, environmental protection and safety

Surface-mining opportunities lie in market-related commodities

By: Jessica Oosthuizen     26th October 2018 Johannesburg-based mining equipment distributor Vermeer Equipment Suppliers is starting to focus on certain market-related commodities and associated opencast mines to market its Surface Miner surface excavation machines, says mining and pipeline sales segment manager Gareth Cramond. The... 

Surface-mining  opportunities lie  in market-related  commodities
ALL ACCESS Vermeer’s surface excavation machines can access areas of opencast mines where drilling and blasting cannot be done

Some aspects of new Mining Charter ‘still need to be explained’

By: Nadine James     26th October 2018 The gazetting of South African Mining Charter 3, while welcomed as a step forward in creating certainty in the industry, has left gaps regarding its interpretation and its affects on mining communities, says black economic-empowerment advisory firm NPI Governance Consulting founder and CEO Israel... 

Some aspects of new Mining Charter ‘still need to be explained’
ISRAEL NOKO It will take some time for municipalities and tribal authorities to know and understand what role they would be playing according to the new charte

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