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Base Metals News

Nautilus secures $34m loan to progress Solwara 1 project

By: Marleny Arnoldi     11th June 2018 TSX-listed Nautilus Minerals has entered into a loan agreement with Deep Sea Mining Finance, formalising the previously disclosed secured structured credit facility of up to $34-million.  

Bellzone starts exploratory discussions to maximise Guinea assets’ value

By: Marleny Arnoldi     11th June 2018 Aim-listed Bellzone Mining has started discussions with a number of parties to explore options to potentially maximise the net present value (NPV) of its major assets, including the Konta port, its ferronickel project and the Kalia iron-ore project, all in Guinea.  

Pembridge, Japanese trading house enter into $30m offtake financing arrangement

By: Simone Liedtke     11th June 2018 LSE-listed Pembridge Resources has signed definitive heads of terms with a global Japanese trading house to receive $30-million in prepayment financing through an offtake financing agreement for 125 000 t of copper concentrate to be produced at the Minto copper/gold/silver mine, in Canada. The... 

BMR sells Jubilee shares to repay creditor

By: Marleny Arnoldi     11th June 2018 Aim- and JSE-listed Jubilee Metals has completed a placing of existing shares held by Aim-listed lead and zinc mine developer BMR Group to institutional shareholders.  

Beneficiation opportunities in zinc, fuel cells – Oliphant

By: Martin Creamer     11th June 2018 Deputy Minerals Minister Godfrey Oliphant is engaging with companies on local value-addition opportunities in zinc and platinum-catalysed fuel cells, and would like mining companies to make these and other locally mined commodities available at developmental prices to facilitate... 

Beneficiation opportunities in zinc, fuel cells – Oliphant
Photo by Wynand van der Merwe
Deputy Mineral Resources Minister Godfrey Oliphant (right) with Mining Weekly Online's Martin Creamer

Entrée Resources sells Cañariaco royalty

By: Nadine James     8th June 2018 TSX- and NYSE-listed Entrée Resources has sold its 0.5% net smelter return royalty on Candente Copper’s Cañariaco copper project, in northern Peru, to TSX- and LSE-listed natural resources royalty and streaming company Anglo Pacific Group. Under the terms of the agreement with Anglo Pacific,... 

Farellon copper/gold mine on track to meet 5 000 t/m in June

By: Nadine James     8th June 2018 TSX-listed mineral exploration company Altiplano Metals has improved capacity at its Farellon copper/gold mine, in Chile, which was now on track to meet its targeted extraction rate of 5 000 t/ m later this month.   "Through professional management of extraction methods and operations, our team... 

Mustang Minerals changes name to Grid Metals

By: Nadine James     8th June 2018 Mustang Minerals has changed its name to Grid Metals. Grid will begin trading on the TSX-V under the symbol GRDM effective June 8. 

Escondida union to copper investors: bet on quick wage deal

By: Bloomberg     8th June 2018 The world’s largest copper mine probably will avoid a repeat of last year’s prolonged strike as the two sides reign in expectations, according to a union leader. The main union at Escondida in Chile presented its demands to owner BHP Billiton on Friday, and the company has until the weekend to... 

Escondida union to copper investors: bet on quick wage deal

Glencore faces new legal challenge against Congo cobalt mine  

By: Bloomberg     8th June 2018 For Glencore in the Democratic Republic of Congo, problems don’t form an orderly queue: they pile up on top of each other. In the latest example of the commodity giant’s deteriorating relationships in the country, a convicted fraudster has resurrected a legal claim the company considered dead,... 

Glencore faces new legal challenge against Congo cobalt mine

NFC invests $70m into KAZ Minerals’ Koksay project

By: Simone Liedtke     8th June 2018 China Nonferrous Metal Industry’s Foreign Engineering and Construction Company (NFC) will be investing $70-million into high-growth copper company KAZ Minerals’ Koksay project, in Kazakhstan. Following the investment, which is subject to certain conditions precedent, including regulatory... 

Murchison Minerals expands prospective area in Canada

By: Marleny Arnoldi     8th June 2018 TSX-listed zinc/copper/silver miner Murchison Minerals has acquired more ground near its Brabant-McKenzie property, in Saskatchewan, Canada, by staking and is planning additional ground geophysics at the property.  

Hannan Metals to raise C$1m for Irish project

By: Marleny Arnoldi     8th June 2018 TSX-listed base metals miner Hannan Metals will raise about C$1-million through a nonbrokered private placement of up to 6.7-million units of the company at a price of C$0.15 apiece.  

Callinex files technical report for updated resource estimate at the Nash Creek project

By: Anine Kilian     8th June 2018 Canadian zinc miner Callinex has filed an updated technical report for its 100% owned Nash Creek project, in New Brunswick, outlining a major increase in contained zinc, lead and silver mineralisation within indicated and inferred categories. A 2018 maiden preliminary economic assessment (PEA) on... 

Sandfire to buy Talisman’s stake in Springfield JV for A$72.3m

By: Esmarie Swanepoel     8th June 2018 Copper miner Sandfire Resources has struck an agreement with joint venture (JV) partner Talisman Mining to acquire its 30% interest in the Springfield JV. Under the terms of the agreement, Talisman will receive A$72.3-million in cash in return for its subsidiary Talisman A, which holds the... 

Sandfire to buy Talisman’s stake in Springfield JV for A$72.3m

Anglo-Chilean miner reports tax and fees payments

By: Rebecca Campbell     8th June 2018 UK-domiciled, London Stock Exchange- (LSE-) listed mining group Antofagasta plc last year paid $316 833 000.00 to Chilean, and $206 000.00 to US, Government authorities in taxes and fees. The company released this information at the start of this month in its “2017 Report on Payments to... 

BlueBird to acquire Oberon Gold to expand Australia portfolio

By: Marleny Arnoldi     7th June 2018 TSX-listed BlueBird Battery Metals has entered into a binding letter of intent to acquire 100% of Australian exploration company Oberon Gold from Providence Gold and Minerals.  

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

Congo mining regulations to be signed into law on Friday – mines minister

By: Reuters     7th June 2018 Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the... 

Rio Tinto inks exploration agreement with China's Minmetals

By: Reuters     7th June 2018 Global miner Rio Tinto inked a joint venture agreement with China Minmetals Corp on Thursday, as the companies look to explore mineral deposits in China. The 50:50 joint venture with State-owned Minmetals follows a technical agreement signed in November when both parties committed to a... 

Rio Tinto inks exploration agreement with China's Minmetals
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastien Jacques

Oz declares Avanco offer unconditional

By: Esmarie Swanepoel     7th June 2018 Copper/gold miner Oz Minerals has declared its takeover offer for fellow listed Avanco Resources unconditional. Oz Minerals is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418-million. 

Nifty to reach production targets by year end – Metals X

By: Esmarie Swanepoel     7th June 2018 Base metal miner Metals X on Thursday said that it remained on track to reach its strategic objective of increasing output at the Nifty copper mine, in Western Australia, to 40 000 t/y of copper in concentrate by the end of 2018, despite the delay in the timing of the production ramp-up at the... 

Mandela Mining Precinct partner boasts simulation capabilities, serves as ‘test-bed’ for Mining 4.0 technologies 

By: Nadine James     7th June 2018 SiMINE @ Mandela Mining Precinct, located at Carlow Road in Johannesburg, effectively offers two core services – experiential mining simulation as well as a “test bed” for Mining 4.0 principles and systems – for the betterment of the industry, says SiMINE director Gary Lane. He explains that... 

Mandela Mining Precinct partner boasts simulation capabilities, serves as ‘test-bed’ for Mining 4.0 technologies
Gary Lane, Harry Sinko and Antony Mello discuss SiMINE's official launch.

LME says plans to launch about 15 new contracts in January 2019

By: Reuters     7th June 2018 The London Metal Exchange (LME) plans to launch around 15 new contracts from next January, including cash-settled cobalt and hot-rolled coil steel contracts, an executive said on Wednesday. "We will put in place the technical capabilities by November and then we'll launch them from January,"... 

Key shareholder urges Canadian miner Nevsun to engage with suitors

By: Reuters     7th June 2018 Nevsun Resources, a Canadian miner which has been approached regarding a takeover, should enter "good-faith negotiations with any suitor," Adrian Day Asset Management, one of Nevsun's top ten shareholders, said in an open letter to the company's board on Wednesday. "We would urge the company to... 

Battery metals industry dependent on ‘flavour of the month’

By: Simone Liedtke     6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. 

Battery metals industry dependent on ‘flavour of the month’
Photo by Dylan Slater
IDC senior project development manager Bertie Strydom

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

Metal Tiger to acquire 50% of Kalahari Metals

By: Marleny Arnoldi     6th June 2018 Aim-listed resources investor Metal Tiger has signed a binding investment agreement to acquire up to 50% of Botswana-focused explorer Kalahari Metals (KML) for $1.6-million.  

Metal Tiger to acquire 50% of Kalahari Metals

Congo mining revenues triple in Q1; oil revenues down 11%

By: Reuters     6th June 2018 Democratic Republic of Congo's (DRC's) revenues from its mining sector tripled year-on-year in the first quarter of 2018 to $397.86-million, finance ministry data showed. Revenues from the oil and gas sector dropped 10.87 percent year-on-year in the first quarter to $29.45-million, according to... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Nevsun starts exploration decline construction at Serbia copper project

By: Marleny Arnoldi     6th June 2018 TSX-listed Nevsun Resources has started construction of the exploration decline at its Timok Upper Zone copper project in Bor, Serbia.  

Trevali intersects high-grade zinc mineralisation 240 m below Perkoa mine

By: Anine Kilian     6th June 2018 Zinc-focused base metals company Trevali has reported that recent drilling at its Perkoa mine, in Burkina Faso, confirms mineralisation remains open at depth, after drilling 240 m below the current modelled mining level. The company said in a drilling exploration update on Wednesday that, since... 

LME says looking at expanding eligibility for Rusal metal

By: Reuters     5th June 2018 The London Metal Exchange (LME) is working to see if it can expand access to Rusal's aluminium, which is under suspension due to US sanctions, but the exchange needs to be cautious, Chief Executive Matthew Chamberlain said on Tuesday. "We are working very closely with all the parties involved to... 

South Africa’s commodity sector continues to suffer, despite favourable market conditions

By: Simone Liedtke     5th June 2018 While favourable market conditions, higher commodity prices and strong internal discipline will produce increased liquidity and balance sheet strength for miners this year, advisory firm PwC Africa energy, utilities and resources leader Michal Kotzé believes South Africa’s commodity sector will... 

Rusal's May aluminium exports up threefold – Interfax 

By: Reuters     5th June 2018 United Company Rusal, the world's second biggest aluminium producer, in May increased aluminium exports to 197 000 tonnes, up almost threefold from April, Interfax news agency reported. Citing Russian Railways data, Interfax said January-May aluminium exports totalled 972 000 tonnes, down 16% on... 

ABM completes two auger programmes at DRC project

By: Simone Liedtke     5th June 2018 Aim-listed African Battery Metals (ABM), which has set its sights on becoming a significant explorer, developer and miner of battery minerals, has completed two auger programmes that collected soil samples at its 53 km2 Kisinka permit area, in the Democratic Republic of Congo (DRC). After... 

Arc Minerals lifts Zamsort stake to 55%

By: Simone Liedtke     5th June 2018 Aim-listed Arc Minerals has increased its interest in Zamsort, which is developing a copper/cobalt project in north-west Zambia, to 55% following the acquisition of a 6% interest from Terra Metals. The company will issue 17.5-million new ordinary shares, which are also subject to a hard lock-in... 

Giant waste-spewing mine turns to battleground in Indonesia

By: Bloomberg     5th June 2018 Every year, Freeport-McMoRan dumps tens of-millions of tons of mining waste into the Ajkwa River system in Indonesia. The company has been doing it for decades, and is demanding the right to keep at it for decades to come. The discharge of what are called tailings, the leftovers of mineral... 

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