R/€ = 15.99 Change: 0.10
R/$ = 14.01 Change: 0.20
Au 1221.51 $/oz Change: 6.02
Pt 845.50 $/oz Change: 3.71

Base Metals News

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... 

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

Trafigura's bold bet on zinc-maker Nyrstar keeps getting uglier

By: Bloomberg     25th October 2018 For nearly a decade, Trafigura Group chairman Claude Dauphin coveted a zinc deal with Europe’s top smelter. The commodities trader finally got across the threshold in 2015, months after its co-founder’s sudden death. Just a few years later, it’s become one of Trafigura’s biggest headaches. 

KAZ Minerals Q3 output up; 2018 guidance maintained

By: Creamer Media Reporter      25th October 2018 Benefitting from a smooth ramp up and high copper grades at its newest mine, Aktogay, Kazakhstan miner KAZ Minerals is on track to achieve its 2018 copper guidance and will likely touch the upper-end of its gold guidance. London- and Kazakhstan Stock Exchange-listed company produced 77 200 t of... 

Newmont adjusted income falls on lower prices, production

By: Mariaan Webb     25th October 2018 Colorado-based Newmont Gold on Thursday reported weaker adjusted net income of $175-million, as its revenue decreased along with gold prices and lower production at various sites. The third-quarter income adjusted for impairments and a write-down in North America, came to $0.33 a diluted share,... 

Newmont adjusted income falls on lower prices, production
Newmont CEO Gary Goldberg

South32 foresees short-term volatility, but long-term growth, sustainability 

By: Schalk Burger     25th October 2018 Diversified mining and metals company South32 on Thursday forecast short-term price volatility for the commodities it produces, but also highlighted its strong cash position and its work to further optimise its global portfolio of assets. In a speech delivered at the company’s 2018 annual general... 

Strong interest received for South32’s South African energy coal assets 

By: Esmarie Iannucci     25th October 2018 Diversified miner South32 has received nearly 40 expressions of interest for its energy coal assets in South Africa. Speaking on the sidelines of the company’s annual general meeting, South32 CEO Graham Kerr told Mining Weekly Online that, while the talks thus far have been confidential, the... 

Strong interest received for South32’s South African energy coal assets
Photo by Bloomberg
South32 CEO Graham Kerr

Vale reports Q3 miss on forex, base metals

By: Reuters     25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Barrick takes $405m write-down on Peru mine, adjusted earnings fall

By: Mariaan Webb     25th October 2018 Gold major Barrick Gold, which has agreed to a $6.1-billion deal to buy Randgold Resources, has posted a third-quarter net loss of $412-million, or $0.35 a share, reflecting a $405-million impairment charge at the Lagunas Norte mine, in Peru. The net loss is significantly wider than the... 

Barrick takes $405m write-down on Peru mine, adjusted earnings fall
Barrick's Nevada operations in the US

Sandfire reports steady Sept quarter production results

By: Esmarie Iannucci     25th October 2018 Copper/gold miner Sandfire Resources has reported solid September quarter results, with copper production remaining steady at 17 924 t, compared with 17 867 t in the June quarter. Gold production over the same period increased from 9 548 oz to 11 141 oz.  

Zijin’s bid for Nevsun jumps two regulatory hurdles

By: Creamer Media Reporter      24th October 2018 The $1.41-billion friendly takeover of Nevsun by Zijin Ming has cleared two regulatory hurdles – one in China and the other in Canada. The Canadian firm, which has assets in Serbia and Eritrea, reported on Wednesday that the takeover had received approval from China’s National Development and... 

Antofagasta narrows 2018 guidance, targets higher output next year

By: Mariaan Webb     24th October 2018 Copper miner Antofagasta has taken 15-million tonnes off the top-end of its production guidance for the year, but maintained its positive outlook for 2019 despite trade tensions clouding the market outlook. The London-listed miner narrowed its copper production guidance to between 705 000 t and... 

Norsk Hydro Q3 beats forecast, Alunorte outlook still uncertain

By: Reuters     24th October 2018 Norwegian aluminium producer Norsk Hydro's third-quarter earnings far exceeded forecasts on Wednesday amid rising metals prices, but the company is still in the dark over when its key Brazilian alumina plant can return to full production. The company won permits from Brazilian authorities... 

South32's Cerro Matoso said to owe more than $56m in royalties

By: Reuters     24th October 2018 The Cerro Matoso nickel mine, owned by Australian miner South32, owes more than $56-million in unpaid royalties to Colombia, the country's comptroller said on Tuesday. The company, which produced 40 600 t of ferronickel in 2017, applied incorrect discounts to its royalty payments over several... 

Third diamond hole intersects sulphide stringer veins at Rok Optel nickel/copper target

By: Simone Liedtke     24th October 2018 The Rok Optel nickel/copper target, in the Northern Cape, which forms part of ASX- and JSE-listed Orion Minerals’ regional exploration programme, is continuing to emerge as a very promising nickel sulphide project, MD and CEO Errol Smart said on Wednesday. Diamond drill hole OROD003, which was... 

AfriTin pilot production plant to achieve first material by end-2018

By: Simone Liedtke     24th October 2018 Aim-listed AfriTin Mining looks forward to achieving its target of processing the first material through the pilot plant at its Uis mine, in Namibia, by the end of this year, after having achieved a number of important milestones in the six-month period ended August 31. Construction of the pilot... 

Hudbay expresses disappointment at shareholder meeting requisition

By: Mariaan Webb     24th October 2018 The board of TSX- and NYSE-listed miner Hudbay has expressed its disappointment at the special shareholders meeting called by private equity firm Waterton Global Resource Management, which on Tuesday delivered its requisition. In a statement, Hudbay said that the requisition was delivered... 

Hudbay expresses disappointment at shareholder meeting requisition
Hudbay chairperson Alan Hubben

US Justice Dept demands details from Glencore on intermediary firms – sources

By: Reuters     23rd October 2018 The US Department of Justice is seeking documents from Glencore about intermediary companies that the commodities firm has worked with in the Democratic Republic of Congo, Venezuela and Nigeria, sources familiar with the matter said. The investigation is not directed at Glencore's own activities... 

Sipa starts ‘extensive’ Uganda nickel exploration programme

By: Nadine James     23rd October 2018 Australia-based exploration company Sipa Resources on Tuesday announced that an “extensive” nickel exploration programme was under way at the Kitgum Pader joint venture (JV) project, in Uganda. The Kitgum-Pader project contains two new mineral discoveries, Akelikongo nickel/copper sulphide and... 

Anglo’s portfolio performs well in Q3  

By: Nadine James     23rd October 2018 Diversified miner Anglo American’s focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes for the third quarter 1% higher year-on-year, Anglo CE Mark Cutifani commented on Tuesday. “Production per employee has increased by 5% [so far this... 

Anglo’s portfolio performs well in Q3
Photo by Bloomberg
Anglo American CE Mark Cutifani

Trevali lowers Caribou mine guidance

By: Mariaan Webb     23rd October 2018 TSX-listed Trevali Mining has lowered its zinc and lead production guidance for the Caribou mine in Bathurst, New Brunswick, but the company remains on track to achieve its consolidated zinc production guidance. The Caribou mine’s zinc guidance has been lowered from a range of 86-million to... 

Black Mountain sees exploration potential at Lanfranchi

By: Esmarie Iannucci     23rd October 2018 Privately held Black Mountain Metals on Tuesday told delegates at the Australian Nickel conference, in Perth, that the company would focus on exploring its recently-acquired Lanfranchi nickel operation, in Western Australia, before planning a restart. Black Mountain in September acquired the... 

Terramin flags higher output at Algeria zinc/lead mine

By: Esmarie Iannucci     23rd October 2018 An initial optimisation study into the Tala Hamza zinc/lead project, in Algeria, has flagged a substantial increase in production rates, ASX-listed Terramin Australia said on Tuesday. Terramin, which owns a 65% interest in the project, reported that the initial optimisation study had identified... 

BHP powering ahead with plans to lift Nickel West production

By: Esmarie Iannucci     23rd October 2018 Mining major BHP’s Nickel West division is powering ahead with plans to increase production at its Leinster operation, in Western Australia. Nickel West head of integrated operations, Karl Stokes, told delegates at the Australian Nickel conference, in Perth, on Tuesday that the division’s... 

BHP powering ahead with plans to lift Nickel West production

Orion completes follow-up metallurgical testwork at its Prieska project

By: Simone Liedtke     22nd October 2018 ASX- and JSE-listed Orion Minerals has completed the follow-up locked-cycle metallurgical testwork on the deeper mineralised domains at its Prieska zinc/copper project, in the Northern Cape. The Prieska deep sulphide zone is currently the subject of a bankable feasibility study (BFS) targeted for... 

Glencore CEO said to tell investors he'll retire in 3 to 5 years  

By: Bloomberg     22nd October 2018 Ivan Glasenberg, who built Glencore into a dominant force in commodities trading and became the face of the industry, told investors he plans to retire in three to five years, according to people familiar with the matter. Glasenberg discussed his succession plan in recent meetings and said he has... 

Glencore CEO said to tell investors he'll retire in 3 to 5 years
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

BASF and Norilsk Nickel sign nickel and cobalt supply agreement

By: Creamer Media Reporter      22nd October 2018 Chemicals and cathode giant BASF has locked in a local source of feedstock for its European battery materials business, announcing on Monday that it had signed a long-term, market-based agreement with Russian miner Norilsk Nickel (Nornickel) for nickel and cobalt supply. The German group also... 

BASF and Norilsk Nickel sign nickel and cobalt supply agreement

Western Areas gives go-ahead for Odysseus nickel mine

By: Esmarie Iannucci     22nd October 2018 The board of nickel miner Western Areas has given the green light to the Odysseus project, following a positive definitive feasibility study (DFS). The DFS into the Cosmos Odysseus project, in Western Australia, confirmed that the project would produce on average 13 000 t/y of... 

Western Areas gives go-ahead for Odysseus nickel mine

Waterton to call special meeting of Hudbay Minerals shareholders

By: Reuters     19th October 2018 Private equity firm Waterton Global Resource Management said on Friday it would call a special meeting of Hudbay Minerals' shareholders after the Canadian miner refused its proposal for changes to its board. Waterton, which said it owns a 7% stake in Hudbay, had also asked the miner to avoid any... 

Bosnian government to help keep Aluminij smelter on power grid

By: Reuters     19th October 2018 A Bosnian regional government will help to keep aluminium smelter Aluminij Mostar running, a Minister said on Friday, after heavy debt brought it to the brink of closure. Management at Bosnia's sole aluminium smelter had called for the Bosniak-Croat Federation to intervene after the business was... 

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

China's Shandong Zhaojin seeks South American mining assets

By: Reuters     19th October 2018 Shandong Zhaojin Group, one of China's biggest gold miners, is scouring assets in South America as it looks to invest in its first overseas mining project, its general manager said on Friday. The company has set up a representative office in Machala, capital of Ecuador's El Oro province,... 

Flow of LME nickel to hidden storage dents bull story

By: Reuters     19th October 2018 The bulk of nickel moving out of London Metal Exchange-approved warehouses in Asia is showing up in hidden facilities in Europe, analysts said, denting a bullish scenario of potential shortages. LME nickel stocks have shrunk by about 40% this year, largely from warehouses in Malaysia, Taiwan... 

Arc exits Indonesia JV to focus on Ontario project

By: Esmarie Iannucci     19th October 2018 ASX-listed junior Arc Exploration has inked a binding sales agreement to divest of its joint venture (JV) interest in the Trenggalek copper/gold project, in East Java, Indonesia. The company has sold its interest to JV partner PT Sumber Mineral Nusantara for A$100 000, saying on Friday that the... 

Marginal increases in lead, zinc demand expected in 2019

By: Nadine James     19th October 2018 In a report released last week, the International Lead and Zinc Study Group forecast that there would be marginal increases in demand for lead and zinc in 2019.  The ILZSG forecasts that global lead demand will  rise by  0.7% to 11.79-million tonnes in 2019, compared with the 11.71-million tonnes... 

Marginal increases in lead, zinc demand expected in 2019
Photo by Bloomberg
USURPER Lead demand is expected to fall on the back of increased lithium-ion battery penetration and slower growth in the automotive sector

SRK Ghana expanding into other West African markets

By: Nadine James     19th October 2018 As the economic mood in the global mining industry turns towards the better, SRK Consulting’s Accra office, in Ghana, has been making inroads into new markets in Côte d’Ivoire and Togo, SRK Ghana country manager John Kwofie noted in a release last week. He believes that there is potential for... 

SRK Ghana expanding into other West African markets
JOHN KWOFIE The Ghana office is a springboard to other countries in the region

Major equipment for Guinea bauxite project delivered

By: Rebecca Campbell     19th October 2018 United Arab Emirates (UAE) group Emirates Global Aluminium (EGA) has announced that the single biggest piece of equipment for its Boké bauxite project has arrived in the Republic of Guinea, in West Africa. Boké is being developed by EGA subsidiary Guinea Alumina Corporation (GAC). The... 

MOD gets approval for new exploration project

By: Donald Makhafola     19th October 2018 Australian-listed copper exploration and development company MOD Resources has received approval from the Department of Environmental Affairs in Botswana to drill within a 700 km2 area in the northern section of the T20 dome complex. The approval is subject to the standard four-week public review... 

MOD gets approval for new  exploration project
EXPLORATION MOD Resources has no plans to explore outside the Kalahari Copperbelt in Botswana at this stage

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