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Base Metals News

Peru agency rules out tailings spill at Southern Copper mine

By: Reuters     13th February 2019 Peru's environmental regulator OEFA has concluded that mining waste from Southern Copper Corp's Cuajone unit did not spill into the environment during heavy rains last week. OEFA said in a statement late Tuesday that it was still supervising operations at Cuajone but had ruled out any tailings... 

Bristow snaps into fast action wearing Barrick crown 

By: Martin Creamer     13th February 2019 Dr Mark Bristow has snapped into fast action wearing the Barrick crown. His Randgold Resources, which now falls under the Barrick Gold umbrella, on Wednesday bowed out with panache when it declared a 35% dividend increase to $2.69 a share, buoyed by record production of 807 000 oz of gold at the... 

Bristow snaps into fast action wearing Barrick crown
Barrick CEO Mark Bristow in the field.

Taseko posts FY loss, expects higher copper pricing in 2019

By: Mariaan Webb     13th February 2019 Canadian miner Taseko is expecting increased copper prices in 2019 and a rebound in gross revenues and margins, after the fluctuations of the copper price last year resulted in a “challenging” operating environment. The company reported weaker production at its Gibraltar mine, in British... 

Teck misses profit estimates on lower oil, metal prices

By: Reuters     13th February 2019 Canada's Teck Resources, the world's second-biggest exporter of steel-making coal, posted a lower-than-expected quarterly profit on Wednesday, hurt by weak prices for heavy crude and base metals. Transportation bottlenecks in the country have pushed prices of Canadian oil lower, hurting the... 

Teck misses profit estimates on lower oil, metal prices

Bezant outlines mining options for Mankayan project

By: Simone Liedtke     12th February 2019 Aim-listed Bezant Resources on Tuesday said that an independent study had found that the Mankayan copper/gold porphyry supported different robust routes for the future development of its Philippines-based project. This included, for the first time, a sub-level caving (SLC) ‘stepping stone’... 

Independent review confirms Sconi's importance

By: Esmarie Iannucci     12th February 2019 An independent nickel and cobalt sulphate market study has flagged the planned Sconi project, in North Queensland, to be one of the most competitive producers in the world, once operational. Construction of the A$1.4-billion Sconi project is expected to start this year, with the operation... 

Nzuri finds funding for Kalongwe

By: Esmarie Iannucci     12th February 2019 Copper junior Nzuri Copper has secured a loan facility of A$3-million from major shareholder Tembo Capital Mining, to advance its Kalongwe copper/cobalt project, in the Democratic Republic of Congo. The unsecured loan will have a maturity date of nine months once the definitive agreement has... 

Southern Copper says Peru plant to be partially suspended 3 to 5 days

By: Reuters     12th February 2019 Southern Copper Corp said on Monday that a key plant it uses to produce copper in Peru would not fully restart for another three to five days while work is done on its tailings and railway infrastructure following heavy rains. Peru's environmental regulator OEFA has been investigating a... 

Connemara mulls name change to ‘Arkle Resources’

By: Simone Liedtke     12th February 2019 Gold and zinc explorer Connemara Mining on Tuesday announced a proposed name change to Arkle Resources. The name change, while reflecting the company’s heritage as an Ireland-based business established to focus on zinc assets, would better reflect its diversified position in gold and zinc... 

Xtract concludes MoA to explore for copper/gold resource in Zambia

By: Tasneem Bulbulia     11th February 2019 Xtract Resources on Monday concluded a memorandum of agreement (MoA) with an unnamed consortium to jointly undertake exploration works on a small-scale copper/gold mining licence, in Zambia. The parties hope to identify a copper/gold resource at the licence within 24 months. 

Metal Tiger raises funds to support exploration in Botswana

By: Tasneem Bulbulia     11th February 2019 Aim-listed Metal Tiger on Monday announced the placing of 70.01-million shares, at a price of 1.45p each, with new and existing investors to raise gross proceeds of about £1-million. In addition to the placing, Metal Tiger also announced that it has signed a nonbinding term sheet with Sprott... 

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

Red River tips start at Far West

By: Esmarie Iannucci     11th February 2019 Base metals miner Red River Resources is expecting to produce its first production ore from the Far West underground mine, in Queensland, by the third quarter of this year. To date, some 3 500 t of high-grade development ore has been delivered to the run-of-mine pad at the Thalanga operations,... 

Codelco plans to resume Chuquicamata mine operations after rains

By: Reuters     11th February 2019 Chilean State miner Codelco said on Saturday it hoped to soon restart operations at its northern Chuquicamata copper mine a day after heavy rains forced its suspension. Codelco said operations at its smaller Ministro Hales mine restarted late on Friday after several hours' suspension and that... 

Cornerstone tells SolGold that its proposed offer will not succeed

By: Mariaan Webb     11th February 2019 TSX-V-listed Cornerstone has told its potential suitor that it will not be successful in a takeover of the company, after LSE- and TSX-listed explorer SolGold on Friday announced for the second time its intention to make an offer for Cornerstone. SolGold said on Friday that it believed all... 

Green light for Taseko’s BC copper project buy

By: Mariaan Webb     11th February 2019 The shareholders of development stage company Yellowhead Mining have approved a takeover by base metals miner Taseko Minerals, giving the larger company full ownership of the Harper Creek copper/gold/silver project, in British Columbia. The acquisition was approved by 99.98% of Yellohead’s... 

Peru's environmental watchdog reports tailings spill from Southern Copper mine

By: Reuters     11th February 2019 Peru's environmental watchdog said on Sunday it was investigating a tailings spill from a unit of Southern Copper Corp, one of the world's largest copper producers, into a river in an area that has been inundated by heavy rains. The Agency of Evaluation and Environmental Enforcement (OEFA) said... 

Codelco part-suspends operations amid heavy rain

By: Reuters     8th February 2019 Chilean State miner Codelco said on Friday heavy rains had forced suspension of operations at its northern copper mines Chuquicamata and Ministro Hales. Codelco said it had sent its daytime shift of workers home as a preventative measure and would evaluate whether to cancel its night shift as well. 

Glencore's Zambian unit suspends operations after three workers die in fire 

By: Reuters     8th February 2019 Glencore's Zambian unit Mopani Copper Mines said on Friday it had suspended operations at its Mindola north shaft after three workers were killed in a fire accident. Mopani is one the biggest mining companies in Zambia – Africa's No. 2 producer of the metal – with an output of around 100 000 t/y.... 

Shares in Russia's Rusal jump 12% on upbeat aluminium demand outlook

By: Reuters     8th February 2019 Russian aluminium giant Rusal expects demand for aluminium to grow in 2019 and sees potential for prices to rise, it said on Friday, sending its Hong Kong-listed shares up 12% to a 10-month high. Shares in Rusal, the world's largest aluminium producer outside China, hit their highest since April... 

SolGold disappointed by Cornerstone’s quick snub

By: Mariaan Webb     8th February 2019 Australian company SolGold on Friday expressed its frustration at the rejection of its planned bid for Canadian firm Cornerstone – a company that holds 15% of the Cascabel copper/gold project in Ecuador. Cornerstone rejected the intended offer meant to consolidate SolGold’s ownership in Cascabel... 

SolGold disappointed by Cornerstone’s quick snub
SolGold CEO Nick Mather

Demand for impeller, agitator tech in DRC increasing

By: Jessica Oosthuizen     8th February 2019 Demand for more effective and efficient impeller and agitator technology is on a dramatic upward trend in the Democratic Republic of the Congo (DRC), says industrial agitator and mixer manufacturer Mixtec sales and projects manager Rudi Swanepoel. He notes that the company sees a significant... 

Demand for  impeller, agitator tech in DRC increasing
MIXTEC MIXER Mixtec retrofits pre-existing mixers with modern custom designs

Infrastructure, energy supply continue to hamper DRC mining operations

By: Jessica Oosthuizen     8th February 2019 Infrastructure and energy supply issues continue to hamper mining and processing operations, as well as the broader economy, in the Democratic Republic of Congo (DRC), says international metals and minerals consultancy Roskill director Jack Bedder. Despite the country having significant... 

Infrastructure, energy  supply continue to hamper DRC mining operations
POWER PROBLEM The energy sector remains a major inhibitor to economic development and social inclusion in the Democratic Republic of the Congo

Tin mining poised to become a significant mining play in DRC 

By: Jessica Oosthuizen     8th February 2019 Tin mining is poised to become a significant factor in the Democratic Republic of Congo (DRC), especially in North Kivu, as it can contribute to the country’s socioeconomic wellbeing, says tin exploration and mining company Alphamin Resources CEO Boris Kamstra. Alphamin Resources is developing... 

Tin mining poised to become a  significant mining play in DRC
Alphamin Resources CEO Boris Kamstra discusses his prospects for the mining industry in the Democratic Republic of Congo. Camerawork and Editing: Nicholas Boyd.

DRC’s new President an ‘unknown factor’ as far as mining is concerned

By: Rebecca Campbell     8th February 2019 The Democratic Republic of Congo (DRC), lying pretty much in the centre of Africa, is geographically the 11th biggest country in the world and is well-known for its mineral riches. In its most recent (2014) report “The Mineral Industry of Congo (Kinshasa)”, the US Geological Survey (USGS) noted... 

DRC’s new President an ‘unknown factor’ as far as mining is concerned

First Quantum announces refinancing

By: Creamer Media Reporter      7th February 2019 Canadian miner First Quantum has signed a new $2.7-billion term loan and revolving credit facility, replacing the existing $1.5-billion revolving credit facility. Underwritten by three core relationship banks, the new $2.7-billion facility, with an accordion feature to increase it up to... 

Anglo Asian announces highest-ever production guidance

By: Creamer Media Reporter      7th February 2019 Aim-listed gold, copper and silver producer Anglo Asian has announced its highest-ever production guidance, forecasting metal production of between 82 000 and 86 000 of gold-equivalent ounces (GEOs) for 2019. The guidance compares with a target range of 78 000 GEOs to 84 000 GEOs in 2018 and... 

Norsk Hydro's Q4 hit by restricted Brazil output, lowers dividend

By: Reuters     7th February 2019 Norwegian metals producer Norsk Hydro warned it will miss its 2019 savings targets after falling well short of fourth-quarter earnings expectations hit by restricted output in Brazil and higher costs. Underlying operating profit fell 85% to 534-million Norwegian crowns ($62.48-million) versus... 

Namibia Critical Metals signs deal for Kunene small-scale mining initiative

By: Natasha Odendaal     7th February 2019 TSX-V-listed Namibia Critical Metals has signed a deal with a private, undisclosed Namibia-based group for the development of a small-scale manganese mine at its wholly-owned subsidiary Kunene Resources Namibia’s operations. The agreement allows the local Namibian group to produce manganese... 

Zimbabwe lithium project wins the Mining Indaba’s Investment Battlefield competition 

By: Kim Cloete     7th February 2019 Junior mining company, Prospect Resources, has won the 2019 Mining Indaba Investment Battlefield for its lithium project located in Zimbabwe. Prospect Resources executive director Harry Greaves scooped the first prize at the Investing in African Mining Indaba, in Cape Town, after pitching the... 

Lesedi to assist Mozal in its aluminium expansion project

By: Kim Cloete     7th February 2019 South African engineering, procurement and construction (EPC) company Lesedi has recently been awarded a contract to assist South32’s Mozal aluminum plant in its expansion project. The $38-million AP3XLE energy efficiency project was approved in the third quarter of 2017 and started the rollout... 

Congo 2018 copper output up 12.9% to 1.2Mt – Chamber of Commerce

By: Reuters     6th February 2019 Copper production in Democratic Republic of Congo, Africa's top producer, rose 12.9% in 2018 to 1.2-million tonnes, the Chamber of Commerce said in a presentation on Wednesday. Output of cobalt, a key component of electric car batteries, rose 43.8% to 106 439 t, while gold production increased by... 

Ascendant secures OPIC loan for Honduras expansion

By: Creamer Media Reporter      6th February 2019 Toronto-based miner Ascendant Resources has secured financing from a US government agency that helps businesses invest in emerging markets to expand its El Mochito zinc/lead/silver mine in Honduras. The nonbinding term sheet with Overseas Private Investment Corporation (OPIC) is for a... 

Working together can deliver mining’s massive benefits – Friedland 

By: Martin Creamer     6th February 2019 Mining can and will deliver massive benefits if all stakeholders work together, Ivanhoe Mines executive co-chairperson and founder Robert Friedland said on Wednesday Speaking on the third day of the Investing in African Mining Indaba, he outlined the huge potential of collaborative government,... 

Working together can deliver mining’s massive benefits – Friedland
Ivanhoe Mines executive co-chairperson and founder Robert Friedland speaks about the winds of change blowing in South Africa and the DRC and the benefits mining companies, African governments and communities can reap if all parties work together. Video and editing: Nicholas Boyd.

Australia miner Independence says in talks with potential buyers of battery chemicals

By: Reuters     6th February 2019 Independence Group, an Australian miner looking to move into making chemicals used in electric vehicle batteries, on Wednesday said it was in talks with a range of potential buyers of those products. The mid-tier miner trialled production of battery chemical nickel sulphate in December and... 

Sumitomo books $137m one-off losses on Ambatovy nickel project

By: Reuters     6th February 2019 Japanese trading house Sumitomo Corp booked one-off losses of about 15-billion yen ($137-million) on the Ambatovy nickel/cobalt project in Madagascar in the October to December quarter and cut its nickel output estimate for the current year for the project. The losses include about 10-billion... 

Zambia receives bids for stake in State mining investment arm

By: Reuters     5th February 2019 Zambia has received bids from Canada's First Quantum Minerals (FQM) and others for a 17% stake in state mining investment arm ZCCM-IH, the finance minister said on Tuesday. "There are multiple unsolicited offers on the table, including from FQM, which are based on preferential share conversions,"... 

Zinc One unveils maiden resource estimate for Peru project

By: Simone Liedtke     5th February 2019 TSX-V-listed Zinc One Resources has announced a maiden initial resource estimate for the Bongará zinc mine project, in north-central Peru. The estimate consists of an indicated mineral resource of 812 000 t averaging 18.9% zinc containing 339-million pounds of zinc at a 10% zinc cut-off and an... 

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