R/€ = 14.67 Change: -0.03
R/$ = 11.96 Change: 0.01
Au 1314.38 $/oz Change: -0.19
Pt 945.50 $/oz Change: -6.51

Base Metals News

Norway's Hydro reveals additional spills from Brazil plant

By: Reuters     13th March 2018 A Norsk Hydro plant's spill of waste water in Brazil last month was more extensive than previously reported, and the company still lacks overview of the situation, it said on Tuesday. Authorities in late February ordered Alunorte, the world's largest alumina refinery, to cut output in half... 

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

As copper booms, miners take hunt to Mongolian dunes
Photo by Rio Tinto
Ancient petroglyphs from Javkhlant rock, near the Oyu Tolgoi project area in Mongolia.

Investors hunting cobalt deals approached Sherritt, CEO says

By: Bloomberg     13th March 2018 Sherritt International has been approached by investors seeking to buy a share of its cobalt production as a way of gaining exposure to the red-hot battery metal, the Canadian miner’s CEO said. Cobalt is rapidly becoming an investor darling as expectations of a shortage driven by the growth of... 

China's Zijin Mining interested in Serbian copper mine RTB, Belgrade says

By: Reuters     12th March 2018 China's Zijin Mining Group has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade. President Aleksandar Vucic on Monday met representatives of the Chinese firm, who expressed an intention to invest... 

EU says expects contacts, no formal talks with US on tariffs this week

By: Reuters     12th March 2018 The European Commission said it expected to be in contact with the US over steel and aluminium tariffs this week, but added that no formal talks were scheduled. "No meetings as such are planned at the moment between US and EU authorities," a spokesman for the European Commission told a regular... 

Congo's Kabila signs into law new mining code

By: Reuters     12th March 2018 Democratic Republic of Congo President Joseph Kabila signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement. International mining companies that operate in Congo, Africa's top copper producer, have vigorously opposed the new... 

Heron completes Woodlawn draw-down

By: Esmarie Swanepoel     12th March 2018 ASX-listed metals developer Heron Resources has completed the draw-down of a $16-million silver stream prepayment from Orion Mine Finance, to help fund the development of the Woodlawn zinc/copper project, in New South Wales. The silver stream prepayment forms part of a A$240-million project... 

St George raises funds for nickel exploration

By: Esmarie Swanepoel     12th March 2018 Nickel explorer St George Mining has raised A$4-million through a share placement to institutional and sophisticated investors to fund exploration and drilling programmes at the Mt Alexander nickel/copper sulphide project, in Western Australia. Some 22.2-million shares, priced at 18c each, will... 

Creditors approve Banro's recapitalisation plan

By: Creamer Media Reporter      11th March 2018 Affected creditors have approved Banro Corporation's proposed recapitalisation plan. Banro, which operates the Twangiza and Namoya mines, in the Democratic Republic of Congo (DRC), on Friday said the creditors' approval was a key step towards its implementation and the emergence of the company... 

Chile's Codelco inks deal on Ecuador copper project

By: Reuters     11th March 2018 Chile's State-run mining company Codelco, the world's largest copper miner, signed a deal with Ecuador on Saturday for joint development of the Llurimagua copper project near Quito. The project could become the first mine Codelco operates abroad following years of efforts to expand... 

Vast extends completion date for Mercuria agreement

By: Megan van Wyngaardt     9th March 2018 Aim-listed copper and zinc miner Vast Resources said on Friday that, while it continued to make good progress with Mercuria Energy Group to finalise a $9.5-million prepayment offtake agreement for the construction of the metallurgical complex near the Manaila mine, and in restarting the mining... 

WTO says there is still time to discuss US tariff move

By: Reuters     9th March 2018 World Trade Organization (WTO) members still have time to discuss the US tariffs on steel and aluminium imports signed by President Donald Trump on Thursday, and it is up to them what happens next, WTO spokesperson Dan Pruzin told reporters on Friday. "Certainly there is still time to discuss... 

Drilling gets under way at Stonepark zinc project

By: Creamer Media Reporter      9th March 2018 Drilling at the Stonepark zinc joint venture (JV) project, in Limerick, is set to start in the next few weeks, 23.44%-owner Connemara Mining reported on Friday. The London-listed company said that the drilling was aimed at determining if exploration success at the adjacent Pallas Green project of... 

New power line to keep OZ Minerals connected

By: Megan van Wyngaardt     9th March 2018 Copper/gold miner OZ Minerals on Friday unveiled its power strategy, which includes a new high voltage power transmission line to secure electricity for the Prominent Hill and Carrapateena mines, as well as any future developments in South Australia. “Infrastructure in the region does not support... 

New power line to keep OZ Minerals connected

Thor zones in on three projects

By: Megan van Wyngaardt     9th March 2018 Dual-listed Thor Mining on Friday said it would intensify its focus on its Pilot Mountain tungsten/silver/copper project, in the US; as well as the Kapunda copper project and the Molyhill tungsten project, in Australia. “Our main business investment decisions will be strictly focused on [these]... 

Botswana pays Russia's Norilsk Nickel $45m to settle mine sale dispute

By: Reuters     9th March 2018 Botswana has paid Norilsk Nickel $45-million to settle a dispute after its State-run mining company pulled out of buying a stake in a South African mine from the Russian firm, the minerals minister said on Friday. Botswana's state-run BCL Mine pulled out of a 3-billion pula ($281-million) deal in... 

Mauritania encourages new gold prospects

By: Tasneem Bulbulia     9th March 2018 Mauritania-based mining and exploration company Suricate Minerals is capitalising on the unexplored territories and the investor-friendly climate of the country to pioneer the development of gold deposits in north Mauritania, Suricate Minerals executive director Ahmed Hertani tells Mining Weekly.... 

Mauritania encourages new gold prospects
GOLDEN PROSPECTS Suricate Minerals has permits for prospecting in north Mauritania in the Archaean Reguibat shield, recognised by geologists as highly prospective for gold and base metals exploration

Roads agency intensifies mining-sector engagement

By: Nadine James     9th March 2018 Following its successful participation at the 2018 Investing in African Mining Indaba, the Roads Agency Limpopo (RAL) hosted a stakeholder engagement and fundraising session with the mining industry in the Sekhukhune district municipality last month at Lapeng Guest Lodge in Burgersfort, Limpopo.... 

BASF opens new lab in Joburg

By: Nadine James     9th March 2018 Specialised chemicals company BASF Mining Solutions South Africa, last month opened its new agglomeration laboratory, based at research organization Mintek’s premises, co-located with BASF Mining Solutions’ existing sample preparation and solid-liquid separation laboratory. Following the... 

BASF opens new lab  in Joburg
NATURAL PROGRESSION The agglomeration lab was a natural progression for the company, which has been exploring means of enhancing recoveries for the last five years

Study elevates importance of Orion’s Jacomynspan deposit

By: Megan van Wyngaardt     8th March 2018 A geological reevaluation of the ultramafic intrusive hosted Jacomynspan nickel/copper/cobalt deposit, undertaken on behalf of dual-listed Orion Minerals, has highlighted important findings that elevate the importance of this district as a compelling target for exploration. Orion MD and CEO Errol... 

Parties in Nornickel dispute allow share sale, but deal could be unwound – lawyer

By: Reuters     8th March 2018 Russian billionaires Vladimir Potanin and Roman Abramovich and aluminium producer Rusal have agreed to allow the sale by Abramovich of a 4% stake in mining giant Norilsk Nickel on a pro rata basis to Potanin and Rusal, a lawyer for Rusal said on Thursday. The three sides of the dispute reached... 

Apollo will now hold 100% in Couflens project

By: Megan van Wyngaardt     8th March 2018 ASX-listed Apollo Minerals has entered into an agreement to acquire the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France from ASX-listed Variscan Mines. Apollo would then own 100% of the Couflens project, which covers a 42 km2 licence... 

Amur kicks off Kun-Manie access road programme

By: Creamer Media Reporter      8th March 2018 Aim-listed Amur Minerals has started the development process for its 350 km access road that will link its Kun-Manie project site to the Ulak rail station on the Baikal-Amur rail line. The company has engaged Cevi Constuzioni (CC) to undertake the inaugural step in the design of the road.... 

Congo's Kabila to sign new mining code soon after meeting with miners

By: Reuters     8th March 2018 Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country's mining companies said on Wednesday. The code has been vigorously opposed by the miners. The announcement followed a nearly six-hour meeting between Kabila and mining... 

Congo's Kabila to sign new mining code soon after meeting with miners
Photo by Reuters
DRC President Joseph Kabila

A$150m raised to accelerate New South Wales cobalt/nickel project

By: Mariaan Webb     8th March 2018 ASX-listed Clean TeQ has raised A$150-million in an underwritten institutional placement at A$1.15 a share to fund early works and long-lead items for the Sunrise nikel/cobalt/scandium project, in New South Wales. The company is pursuing an expedited development timetable to take advantage of... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

By: Henry Lazenby     7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

Pending toll milling, Bunker Hill ready to roll in as little as 60 days

By: Henry Lazenby     7th March 2018 The 'crown jewel' of the Coeur D'Alene zinc, lead and silver mining district, in northern Idaho, could be in initial production in as little as 60 days pending finalisation of a toll milling agreement, after the US Environmental Protection Agency (EPA) signed an agreement releasing owner Bunker... 

Pending toll milling, Bunker Hill ready to roll in as little as 60 days
Photo by US Environmental Protection Agency
A file photo of the Bunker Hill smelter operating in winter snow during the 1970s.

Kazakh miner ERG revives sale of Congo copper mine – sources

By: Reuters     7th March 2018 Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400-million, two banking sources said. The company, which is working with VTB Capital and Rothschild to spin off... 

Multimillion-rand processing plant reinvigorates the old Zincor Refinery

By: Nadine James     7th March 2018 Vele Private Equity (VPE), a wholly owned subsidiary of Vele Investments, on Wednesday officially launched a multimillion-rand zinc processing plant aimed at processing one of four remaining tailing dumps at the old Zincor Refinery, in Springs, east of Johannesburg. The launch was attended by... 

Multimillion-rand processing plant reinvigorates the old Zincor Refinery
Photo by Nadine James
EBM raised R140-million from international investors for the construction of the plant. VPE will be contributing R20-million to cover the remaining plant cost.

Hydro says no time set for restart of Brazil's Alunorte plant

By: Reuters     7th March 2018 Norwegian aluminium maker Hydro is still unable to set a date for the restart of production at Brazil's Alunorte alumina refinery, the world's largest, the company said on Wednesday. The plant, a key supplier to Hydro's aluminium smelters, was ordered to halve production last week over fear of... 

Tanga starts drilling for zinc in Namibia

By: Anine Kilian     7th March 2018 ASX-listed Tanga Resources, which is exploring for gold in Tanzania, has now also started a search for zinc in Namibia, with the company announcing the start of drilling at its recently acquired Joumbira project. A diamond drilling programme is planned for four holes, totalling about 600 m,... 

UBS warns of 'deep trade war' as commodity giant sees no winners

By: Bloomberg     7th March 2018 Raw materials are at great risk as Donald Trump’s White House prepares to pull the trigger on tariffs. UBS Group warned metals to energy will be hurt should US levies spark a global trade war, while commodity powerhouse Australia forecast only a damaging race to the bottom. “Obviously, going... 

UBS warns of 'deep trade war' as commodity giant sees no winners

Daimler's R&D chief sees nickel rich batteries gaining traction

By: Reuters     7th March 2018 The car industry is moving towards making electric car batteries with a higher ratio of nickel, Ola Kaellenius, Daimler board member responsible for research and development, said on Tuesday. High cobalt prices have been pushing manufacturers to adjust the recipe for the batteries used to power... 

Australia's Lowe warns Trump tariffs could shock global economy

By: Bloomberg     7th March 2018 Australian central bank Governor Philip Lowe slammed President Donald Trump’s tariffs proposal, warning escalation and retaliation could develop into a “very big shock for the global economy.” In unusually strong language for the Reserve Bank of Australia chief, Lowe described Trump’s proposed... 

 Australia's Lowe warns Trump tariffs could shock global economy
Australian central bank governor Philip Lowe

Pushback on Trump tariffs gathers steam, Mexico rejects bid to split NAFTA

By: Reuters     6th March 2018 Republican lawmakers stepped up calls for President Donald Trump to pull back from proposed tariffs on steel and aluminium imports as key trading partner Mexico rejected a bid by Washington to drive a wedge between it and Canada in talks to renegotiate the North American Free Trade Agreement.... 

Brazil court denies Norsk Hydro request to resume production

By: Reuters     6th March 2018 A Brazilian court denied a request by Norwegian aluminium maker Norsk Hydro to resume full operations at its unit Hydro Alunorte, the court said in a statement, in the latest setback after allegations it had contaminated water in the area. Norsk Hydro had appealed to a higher court after a judge... 

Nexa a pioneer of the new future of mining – Tito Martins

By: Henry Lazenby     6th March 2018 Recently rebranded Brazilian miner Nexa Resources is at the forefront of innovating in the mining industry with progressive policies and innovative technologies, an audience attending the keynote session during the Prospectors and Developers Association of Canada's 2018 convention has heard.... 

Nexa a pioneer of the new future of mining – Tito Martins
Photo by Henry Lazenby
Nexa Resources president and CEO Tito Martins addresses the audience during the PDAC 2018 keynote session, in Toronto

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom

By: Terence Creamer     6th March 2018 South African steel and aluminium firms remain watchful and uncertain about the effects that a proposed increased US trade protection will have. However, the companies also indicate that they will seek to mitigate the risk through export diversification, as well as a continued focus on markets... 

South African steel, aluminum firms watchful, but not overly anxious, as US tariff hikes loom
US President Donald Trump

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