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Base Metals News

Euro Sun amends Nevsun proposal to include cash and shares

By: Simone Liedtke     5th June 2018 TSX-listed Euro Sun Mining (ESM) has amended its portion of the joint proposal with multinational minerals company Lundin Mining to acquire midtier base metals company Nevsun Resources for C$1.5-billion. ESM is now offering C$150-million in cash and C$150-million in ESM stock, compared with the... 

Cruz to acquire base metals projects in Norway

By: Creamer Media Reporter      4th June 2018 TSX-V-listed Cruz Cobalt has signed a letter of intent with EMX Royalty and Fennoscandian Investment Group to acquire two cobalt/nickel/copper projects in Norway. “We are pleased to have the opportunity to acquire these projects. The properties are 

BMR enters into agreements with Blue Square, Jubilee

By: Simone Liedtke     4th June 2018 Minerals processing company BMR Group has entered into an agreement with Blue Square, under which it will pay Blue Square a performance fee of $500 000 relating to work performed, to date, at its Kabwe project, in Zambia.   

Potential exploration target of 485 000 t identified at Galileo’s Star Zinc project

By: Simone Liedtke     4th June 2018 The results of an independent conceptual grade and tonnage estimate at Galileo Resources’ Star zinc project, in Zambia, has highlighted a potential exploration target of 485 000 t. The estimate, which was based on modelling the results from the company’s recently completed 26-diamond drill hole... 

Chinalco starts $1.3bn expansion of Peru copper mine

By: Reuters     4th June 2018 Aluminum Corp of China, known as Chinalco, at the weekend said it had started work on a $1.3-billion expansion of its Toromocho copper mine in central Peru. The investment will increase the mine's copper output by 45% by 2020, with the value of production exceeding $2-billion annually, Chinalco... 

Altus Strategies lists on TSX-V, retains Aim-listing

By: Simone Liedtke     4th June 2018 Exploration project generator Altus Strategies is now dually listed on the London Stock Exchange’s Aim and the TSX-Venture Exchange, with ordinary shares expected to start trading on TSX-V on June 6. As at the listing date, the company had just over 176-million shares in issue and had granted... 

Havilah sells Portia and Portia North

By: Mariaan Webb     4th June 2018 South Australian copper junior Havilah Resources on Monday announced that it would sell its Portia and Portia North projects to Broken Hill-based Consolidated Mining and Civil (CMC), freeing up the company’s time and financial resources to focus on its core projects. Havilah CEO Walter Richards... 

Trump metal tariffs send corporate Canada reeling in disbelief

By: Bloomberg     2nd June 2018 To get a sense of the disbelief gripping Canadian manufacturers since the U.S. imposed metal import tariffs, have a chat with Marc Dutil. “I just want to scream,” the CEO of structural-steel maker Canam Group said Friday by phone. “All this is doing is creating uncertainty. It’s the last thing... 

Trump metal tariffs send corporate Canada reeling in disbelief
Rio Tinto sends about 1.4-million tonnes a year of aluminium from Canada to the US.

Brazil says US tariffs and quotas unjust, still open to negotiate

By: Reuters     2nd June 2018 The Brazilian government said US quotas and tariffs that went into effect on Friday on Brazil's steel and aluminum exports to the United States were unjustified, but said it remains open to negotiate a solution that benefits industries in both countries. Under the new quota-based system agreed... 

BHP Escondida mine workers in Chile start new wage talks

By: Reuters     2nd June 2018 The union of workers at BHP's Escondida copper mine in Chile said on Friday it had kicked off the latest round of labor negotiations with a contract proposal that includes a bonus of about $34,000 per worker at the world's largest copper mine. The closely-watched talks come little more than one... 

Trump blasts Canada over trade, hints at lumber action

By: Reuters     1st June 2018 US President Donald Trump on Friday fired back at Canada after Ottawa and other American allies retaliated against Washington's steel and aluminum tariffs, and appeared to threaten possible action against Canada's lumber industry. "Canada has treated our Agricultural business and Farmers very... 

Southern has copper giants in the crosshairs with Peru expansion

By: Bloomberg     1st June 2018 Southern Copper is preparing to scale the ranking of global producers by spending more than $10-billion in Peru and Mexico, taking advantage of rising prices underpinned by years of industry belt-tightening. The fifth-largest copper producer hopes to start work on its Tia Maria project in Peru... 

RNC secures $13m loan; strategic focus shifts to Dumont project

By: Anine Kilian     1st June 2018 TSX-listed miner RNC Minerals has entered into a $13-million bridge financing facility with Auramet International that will eliminate most debt repayment commitments for the rest of the year, as its focus shifts to the “shovel-ready” Dumont base metals project, in the Abitibi region of Quebec.... 

EU initiates WTO case against US steel, aluminium tariffs – WTO official

By: Reuters     1st June 2018 The European Union on Friday submitted a request for consultations with the United States on steel and aluminium tariffs announced by Washington, a first step in the WTO dispute settlement process, a World Trade Organization official said. "The WTO Secretariat has received the EU request for... 

Great Panther to decide on Coricancha restart in early 2019

By: Simone Liedtke     1st June 2018 Vancouver-based Great Panther expects to be able to make a decision in early 2019 about restarting the past-producing Coricancha precious and base metals mine that it bought in June last year. The gold/silver/zinc/copper underground mine and mill complex, east of Lima, in Peru, has a 600 t/d... 

Great Panther to decide on Coricancha restart in early 2019

Congo Supreme Court rejects Glencore bid to move dissolution case

By: Reuters     1st June 2018 Congo's Supreme Court has rejected claims by a Glencore unit that a commercial court is not competent to hear a petition to dissolve it brought by State miner Gecamines, a Gecamines lawyer said on Friday. Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming majority-owner... 

Antofagasta reports its tax and fees payments to Chile and the US

By: Rebecca Campbell     1st 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 on Friday in its “2017 Report on Payments to Governments”. The release... 

Orion receives extended bridge loan term to progress Northern Cape projects

By: Marleny Arnoldi     1st June 2018 ASX- and JSE-listed exploration and development company Orion Minerals has received an extension on its $6-million bridge loan term from mining-focused private equity group Tembo Capital, from May 31 to September 30.  

Weatherly shares suspended as water ingress at Tschudi creates uncertainty

By: Anine Kilian     1st June 2018 Aim-listed Weatherly International has requested a suspension in the trading of its shares, effective Friday, owing to the uncertain position of its Namibia-based Tschudi mine, as a result of significant water ingress.  The Tschudi openpit mine had recently experienced a rapid increase in... 

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

Sumatra halts operations at Tembang

By: Esmarie Swanepoel     1st June 2018 Metals miner Sumatra Copper & Gold has temporarily suspended openpit mining activities at its Tembang gold/silver project, in Indonesia. The company said on Friday that with the Berenai openpit mine scheduled to be completed during June, the majority of the remaining openpit reserves were... 

Codelco retains CEO Nelson Pizarro at helm of world's top copper producer

By: Reuters     1st June 2018 Chile's Codelco, the world's top copper producer, said on Thursday its board of directors asked CEO Nelson Pizarro to stay at the helm and move forward with an ambitious, ten-year overhaul of its sprawling but aging mines. The board made the decision to retain Pizarro in its first meeting since... 

‘Law does not adequately protect pregnant women working in risk environments’

By: Nadine James     1st June 2018 The legislature should amend the Unemployment Insurance Act (UIA) to protect pregnant employees working in risk environments, says Cliffe Dekker Hofmyer employment practice director Fiona Leppan. She says South African legislation does not provide adequate protection for pregnant women working in... 

‘Law does not adequately protect pregnant women  working in risk environments’
FIONA LEPPAN If the Unemployment Insurance Act were to be amended, it should address situations where pregnant women would be prejudiced because of the work environment – not because they are pregnant

Sentiment dampens as Charter, MPRDA deadline commitments are postponed

By: Nadine James     1st June 2018 The positive sentiment stemming from the appointment of President Cyril Ramaphosa, and the subsequent appointment of Mineral Resources Minister Gwede Mantashe has dampened recently as Mantashe pushed out the finalisation of the Mining Charter and lodged an application for leave to appeal against... 

Sentiment dampens as Charter, MPRDA deadline  commitments are postponed
WARREN BEECH Hogan Lovells’ Mining head believes Minerals Resources Minster Mantashe’s credibility has been adversely impacted by some of his recent comments

Solution enhances use rates for mine fleet

1st June 2018 A total fuel-filtration solution from power and engine multinational Cummins’ Fleetguard has ensured that a haul-truck fleet at a large copper mine in Zambia has achieved use rates of between 85% and 90%, after previously experiencing operational difficulties relating to substandard fuel... 

Solution enhances use rates for mine fleet
TOTAL SOLUTION Fleetguard provides a comprehensive filtration solution

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

US hits EU, Canada and Mexico with steel, aluminum tariffs

By: Reuters     31st May 2018 The United States on Thursday said it was moving ahead with tariffs on aluminum and steel imports from Canada, Mexico and the European Union, ending a two-month exemption and potentially setting the stage for a trade war with some of America's top allies. US Commerce Secretary Wilbur Ross told... 

Bezant raises £800 000 for Philippines and Argentina projects

By: Creamer Media Reporter      31st May 2018 Copper/gold exploration and development company Bezant on Thursday announced that it had raised £800 000 before expenses through a subscription and placing of shares at 0.36p each. The price represented a discount of about 17.2% to the closing mid-market price of 0.43p a share on Wednesday. 

Congo copper production in Q1 rises 8%; cobalt output up 34%

By: Reuters     31st May 2018 Democratic Republic of Congo produced 296 717 t of copper in the first quarter of 2018, up 8.2% over the same period last year, the central bank said in a report on Thursday. Cobalt production in the first quarter of 2018 rose 34.4% to 23 921 t, the bank said. 

Ukrainian workers sweat over fate of Deripaska's alumina plant

By: Reuters     31st May 2018 Ukraine's decision to put sanctions on one of Russia's wealthiest tycoons worries Vira Dudnyk. A driver at an alumina plant in southern Ukraine, she fears a tug-of-war between Kiev and Moscow may leave her jobless and on the streets. "We are afraid if the plant is closed, what are we left with,... 

Peru's Buenaventura seeks deal with Southern on copper project

By: Reuters     31st May 2018 Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2-billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary... 

Heron draws down Woodlawn funding

By: Esmarie Swanepoel     31st May 2018 ASX-listed Heron Resources has drawn down the first $20-million from the $60-million financing provided by Orion Mine Finance to construct the Woodlawn zinc/copper project, in New South Wales. Heron said on Thursday that the remaining $40-million remained undrawn and would be available to the... 

Trevali appoints new CFO

By: Anine Kilian     31st May 2018 Gerbrand van Heerden has been appointed CFO of zinc-focused base metals company Trevali, taking over from outgoing CFO Anna Ladd-Kruger, effective June 1. “Van Heerden’s extensive base metals and finance experience will provide a solid foundation to the company as it continues to evolve into a... 

Nalco firms up capex for current financial year

By: Ajoy K Das     31st May 2018 Indian government-owned aluminium producer National Aluminium Company Limited (Nalco) has set a capital expenditure (capex) target of $164-million for the 2018/19 financial year. According to an agreement signed with the Mines Ministry, the capex will be increasing on adding a... 

Peru's Minsur lines up financing to start work on Mina Justa this year

By: Reuters     30th May 2018 Peruvian miner Minsur expects to secure $800-million to $900-million in financing from a group of banks in August that will put it on track to start building its $1.6-billion Mina Justa copper project toward the end of the year, the company said on Wednesday. The banks - from Germany, Canada,... 

EU, US trade envoys meet on tariffs, outcome unclear

By: Reuters     30th May 2018 European Trade Commissioner Cecilia Malmstrom and US Commerce Secretary Wilbur Ross met in Paris on Wednesday to discuss looming US import tariffs on EU steel and aluminium, the European Commission said, but declined to speculate on the final outcome. US President Donald Trump has imposed... 

Miners warn Congo it faces $3bn revenue loss over law

By: Bloomberg     30th May 2018 Mining companies in the Democratic Republic of Congo told the government it will lose more than $3-billion over a decade and face legal action if plans to implement a new industry code proceed. Miners including Glencore and Randgold Resources are demanding the government abandon aspects of the... 

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