R/€ = 16.71 Change: 0.04
R/$ = 14.58 Change: 0.06
Au 1189.29 $/oz Change: 12.39
Pt 794.50 $/oz Change: 13.67

Base Metals News

Most unions at Chile's El Teniente copper mine accept contract

By: Reuters     10th August 2018 Four of the five labor unions representing workers at the El Teniente copper mine in Chile have accepted the latest contract offer from state mining company Codelco, union leaders told Reuters. "The contract was approved by an ample margin after the company improved its offer," said Guillermo... 

Trevali lifts Q2 zinc output

By: Simone Liedtke     10th August 2018 TSX-listed Trevali Mining saw achieved higher zinc production in the second quarter, ended June 30, and remains on track to achieve its full-year production and cost guidance, president and CEO Dr Mark Cruise said on Friday. Production guidance for the year remains unchanged at 400-million to... 

Strong sales growth lifts Silvercorp earnings

By: Nadine James     10th August 2018 In its financial and operating results for the first quarter ended June 30, Canada-based, China-focused Silvercorp Metals on Thursday reported a net income of $10.9-million and a 25% increase in cash flow on the back of a 14% increase in sales. The company achieved sales of $45.1-million, up... 

Consolidated Zinc moves forward Mexico mine plans to this year

By: Esmarie Swanepoel     10th August 2018 ASX-listed Consolidated Zinc has flagged the start of production from its Plomosas zinc/lead/silver mine, in Mexico, before the end of 2018. The company had initially targeted a large production facility to start in 2019/20; however, Consolidated Zinc said on Friday said that the results from... 

Consolidated Zinc moves forward Mexico mine plans to this year

MOD adjusts T3 feasibility

By: Esmarie Swanepoel     10th August 2018 Copper developer MOD Resources has incorporated a lager process plant for its T3 resource, in Botswana, into the project’s feasibility study, following a 44% increase in the project’s resource estimate. The feasibility study will now be based on a plant throughput rate of 3-million tonnes a... 

Nevsun CEO says several companies expressed interest in miner

By: Bloomberg     10th August 2018 Nevsun Resources says companies in China, Japan and Western countries are among potential white knights that have expressed interest in buying the miner as it seeks to ward off a hostile takeover by Lundin Mining. “Several companies have indicated an interest,” Nevsun CEO Peter Kukielski said... 

Barrick says China partner for copper 'makes all kinds of sense'

By: Bloomberg     10th August 2018 Barrick Gold executive chairman John Thornton says the Canadian miner is looking at its copper assets “very seriously” to see if it makes sense to form a copper company with one or two partners, most likely from China. “The question for us on copper is, ‘Can you take the copper assets, combine... 

Barrick says China partner for copper 'makes all kinds of sense'
Barrick Gold executive chairperson John Thornton

Unisa, Mintek officially launch shared imaging facility

By: Nadine James     10th August 2018 The University of South Africa (Unisa) and Mintek officially launched their shared Materials Imaging Laboratory, and specifically their recent acquisition of an X-ray microscope (XRM), which enables both institutions to carry out advanced mineral and material research. In 2017, Unisa and Mintek... 

Barloworld Equipment launches next-generation excavators in the Southern African market

By: Nadine James     10th August 2018 Southern African dealer for Cat earthmoving equipment Barloworld Equipment officially launched three new Cat excavator models – the 320, 320GC and 323 – at an event held at the Nasrec Exhibition Centre, last week. All three boast increased operating efficiency, lower fuel and maintenance costs as... 

Barloworld Equipment launches next-generation  excavators in the Southern African market
CAT 323 Delivering high production performance, the new Cat 323 boasts standard integrated Cat Connect Technology and the most power and lift capacity in the line

Explorer pursues manganese opportunities

10th August 2018 Perth-based explorer Bryah Resources is looking towards mining manganese in Western Australia, as it assesses development opportunities at the Horseshoe South manganese mine. The company has locked in an exclusive one-year option to purchase the mining lease covering the historical Horseshoe... 

Explorer pursues manganese opportunities
EXPLORATION INTEREST Bryah Resources MD Neil Marston at Horseshoe South mine near Meekatharra in Western Australia

Increased exploration spend boosts services demand

By: Donald Makhafola     10th August 2018 Mining activities and the number of exploration projects in Australia have been steadily increasing since 2017, and this has, subsequently, resulted in an increased demand for South African airborne geophysics technology provider Spectrem Air’s services, says Spectrem Air GM Louis Polomé.... 

Increased exploration spend boosts  services demand
INTERNATIONAL ATTENTION Spectrem Air is focused on international projects, especially in Australia, where exploration spend is steadily increasing

Feasibility study supports nickel project restart

10th August 2018 Nickel sulphide development company Poseidon Nickel has completed the feasibility study for its Black Swan nickel operations located about 600 km east of Perth and 50 km northeast of Kalgoorlie, Western Australia which confirms that the operations can be brought back into operation. The... 

Feasibility study supports  nickel project restart
OPTIMISTIC Poseidon believes that the positive market outlook for nickel will improve and Black Swan mine will offer attractive returns

Miner pours first gold, progresses exploration

10th August 2018 Australian junior Mincor Resources’ wholly-owned Widgiemooltha gold project, in Western Australia, has poured first gold. Mincor holds nickel and gold assets with estimated mineral resources and ore reserves for each commodity, in the Kambalda district of Western Australia, which is a major... 

Miner pours first gold, progresses exploration
Photo by Bloomberg
GO FOR GOLD Mincor Resources pours first gold at its Widgiemooltha gold project in Western Australia

Vedanta's suspends operations at Zambian unit after worker killed in accident

By: Reuters     9th August 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine was stopped after one miner was killed in an underground accident to allow for investigations into the incident, the company said. In July production was halted at the same shaft, shaft 4, after a miner died in an... 

Miner Trevali reports worker death at Burkina Faso mine

By: Reuters     9th August 2018 Zinc miner Trevali Mining Corp said on Thursday an accident at its Perkoa Mine in Burkina Faso resulted in the death of a worker. The miner was hired by a contractor, the company said. 

Mining starts at Century

By: Esmarie Swanepoel     9th August 2018 Hydraulic mining operations have started at the Century zinc mine, in Queensland. “This is a fantastic achievement by the New Century team and our business partners to deliver the restart of operations at Century both on time and budget,” said ASX-listed New Century Resources MD Patrick Walta on... 

Sunstone to divest of Viscaria

By: Esmarie Swanepoel     9th August 2018 ASX-listed Sunstone Metals has signed a letter of intent (LoI) which could see the company divest of its Viscaria copper project, in Sweden, in exchange for a 30% shareholding in Swedish company Copperstone Resources AB. The proposed transaction will be completed in two stages, with the initial... 

Alcoa output not affected by strike

By: Esmarie Swanepoel     9th August 2018 Aluminium major Alcoa said that industrial action at its Western Australian operations were expected to last until August 17, but would have no effect on production. The Australian Workers’ Union (AWU) on Wednesday said that Alcoa workers had walked out over an enterprise agreement dispute with... 

Union at Caserones mine in Chile says no deal in labour talks, strike imminent

By: Reuters     9th August 2018 The main union at Chile's Caserones copper mine said on Wednesday that a last round of labor negotiations with mine operator Lumina Copper had broken down and that a strike was imminent. The 300-member worker's union said Lumina, which is controlled by a partnership of JX Holding and Mitsui... 

Aurubis Q2 profit falls more than expected

By: Reuters     9th August 2018 Aurubis AG, Europe's biggest copper smelter, on Thursday posted a fall in quarterly profit but confirmed its forecast of higher earnings in its current year. Aurubis said its operating earnings before taxes (EBT) fell 16% to 78-million euros in its fiscal third quarter to end-June, below... 

Teck gets approval to expand Quebrada Blanca mine in Chile

By: Reuters     9th August 2018 Teck Resources said on Wednesday it had received regulatory approval for its $4.8-billion Phase 2 project at its Quebrada Blanca copper mine in northern Chile, a sprawling expansion that will boost production from the deposit to 300 000 t/y of copper. The environmental approvals will allow the... 

Glencore closing in on oil deal, transacting with Eskom

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Glencore closing in on oil deal, transacting with Eskom
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

AFC welcomes completion of, first shipment from Guinea bauxite mine

By: Nadine James     8th August 2018 Infrastructure development finance institution Africa Finance Corporation (AFC) on Wednesday announced the on time completion of the Bel Air mine, in Guinea, and its first shipment of high-grade bauxite to China.  The construction of the mine was completed on time and within budget.  

AFC welcomes completion of, first shipment from Guinea bauxite mine

Copperstone and Sunstone to team up on Scandinavia copper

By: Creamer Media Reporter      8th August 2018 Publically traded company Copperstone Resources on Wednesday announced that it had signed a nonbinding letter of intent to acquire the Viscaria copper project in Kiruna, northern Sweden, from ASX-listed Sunstone Metals. The transaction is proposed as a scrip and share deal and will make Sunstone... 

Katanga’s H1 copper, cobalt revenues rise

By: Anine Kilian     8th August 2018 TSX-listed Katanga Mining on Wednesday reported that its copper revenue for the first half of this year increased to $350.86-million, compared with $3 000 in the first half of 2017, while its cobalt revenue increased to $141.1-million, from zero revenue in the first half of the prior year. “The... 

Humiliated for years, women are fighting back in mines of Chile

By: Bloomberg     8th August 2018 he first time Karen Requena entered the cafeteria at BHP Billiton’s massive Escondida mining operation in northern Chile, she couldn’t help feeling countless eyes fixed on her body as she walked across the vast hall. “It can’t get worse than that,” she thought. Then as Requena looked for a place... 

Humiliated for years, women are fighting back in mines of Chile

ABM to acquire Cameroon, Côte d’Ivoire base metals assets

By: Nadine James     8th August 2018 Aim-listed African Battery Metals (ABM) has conditionally agreed to acquire Cobalt Blue Holdings (CBH) and Regent Resources Interests Corporation (RRIC), which hold highly prospective base metals exploration assets in Cameroon and Côte d’Ivoire, respectively. CBH holds four prospecting licences... 

CITIC Metal another step closer to acquiring a stake in Ivanhoe

By: Marleny Arnoldi     8th August 2018 China State-owned investment company CITIC's subsidiary CITIC Metal has completed its confirmatory due diligence and has received internal approvals necessary to complete the long-term, strategic cooperation and investment agreement with Canadian miner Ivanhoe Mines. This followed a high-level... 

Taseko posts Q2 net loss, but output rises

By: Nadine James     8th August 2018 TSX-listed Taseko Mines on Tuesday reported a net loss of C$4.67-million for the quarter ended June 30, compared with net income of C$5.25-million in the second quarter of 27. Adjusted net income of C$2.34-million was also lower than the net income of C$14.31-million reported for the prior... 

Indonesia issues new tax rules as Freeport seeks fiscal guarantee

By: Reuters     8th August 2018 Indonesia's president has issued new tax regulations aimed at providing clarity for mining companies shifting their current contracts to special mining permits, in a move that could help cement a $3.9 billion deal with Freeport McMoran Inc. Freeport last month signed a heads of agreement to sell... 

Alcoa's W.Australia workers walk out over labour agreement - union

By: Reuters     8th August 2018 Alcoa workers in Western Australia have walked out indefinitely over an enterprise agreement dispute with the aluminium maker, the Australian Workers' Union (AWU) said on Wednesday. The strike comes after Alcoa applied to Australia's workplace regulator to terminate its current agreement,... 

ALCORE gets global licence for technology

By: Esmarie Swanepoel     8th August 2018 ASX-listed Australian Bauxite has told shareholders that its ALCORE subsidiary would have the global licence rights for bauxite refining using the ALCORE technology. The global licence will allow ALCORE to build multiple plants in any location to meet the growing demand for aluminium fluoride... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Ink dries on Sandfire-Talisman deal

By: Esmarie Swanepoel     8th August 2018 Copper/gold miner Sandfire Resources has signed a binding conditional sale and purchase agreement with fellow-listed Talisman Mining to acquire its 30% interest in the Springfield exploration and mining joint venture (JV), in Western Australia, for A$72.3-million. The two companies in June this... 

Copper Mountain mine’s Q2 output jumps

By: Mariaan Webb     7th August 2018 Canadian miner Copper Mountain has reported higher production at its 75%-owned namesake mine, in British Columbia, with the operation producing 20-million pounds of copper, 6 500 oz of gold and 68 400 oz of silver in the second quarter of this year. The production compares with 17.2-million... 

Seafloor miner Nautilus says CEO quits

By: Creamer Media Reporter      7th August 2018 TSX-listed ocean floor miner Nautilus on Tuesday announced that president and CEO Mike Johnston had resigned with immediate effect and that independent director John McCoach had taken over as interim CEO. Nautilus chairperson Tariq Al Barwani thanked Johnson for his long service with the... 

Tasmanian nickel mine to restart, Transamine secures offtake

By: Reuters     7th August 2018 Privately held Dundas Mining is restarting its Avebury nickel mine in Tasmania early next year and Swiss trading house Transamine has secured the offtake, a source familiar with the matter said on Tuesday. Avebury, which had most recently been owned by China-backed MMG, was sold to Dundas last... 

Russia's Rusal shuts down Nadvoitsky plant due to US sanctions

By: Reuters     7th August 2018 ussia's Rusal, the world's largest aluminium producer outside China, has started shutting down production at one of its smaller plants as a result of US sanctions on the company, Rusal representatives said on Monday. Operations at the Nadvoitsky aluminium smelter in Russia's Karelia region... 

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