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Base Metals News

Rio Q1 iron-ore output rises to record, coal, copper decline

By: Liezel Hill     16th April 2008 Diversified miner Rio Tinto, which is fending off a hostile takeover bid by rival BHP Billiton, reported record production of iron-ore for the first three months of the year, up 16% on the same period of 2007. However, coal production declined year on year, after thermal- and hard-coking coal... 

Anglo American sees commodities growing 4% to 5% for next ten years

By: Matthew Hill     15th April 2008 Diversified resources company Anglo American on Tuesday said that it anticipated that demand for most key commodities would grow at a rate of from 4% to 5% for the next decade, driven by China, India, and other developing economies. "We remain very positive on copper, bulk commodities,... 

Orezone reports moly/copper discovery near Essakane

By: Liezel Hill     15th April 2008 Ottawa-based Orezone Resourceshas discovered a large molybdenum/copper porphyry-style system, 30km from its flagship Essakane gold project, in Burkina Faso, the firm said on Tuesday. The system, which has been named the Kourki prospect, is located in Niger and forms part of Orezone's 2 275... 

Metorex's Ruashi II starts copper cathode production

14th April 2008 South Africa-based Metorex has started producing copper cathode at its Ruashi II hydrometallurgical plant in the Democratic Republic of Congo (DRC), it said on Monday. The plant was expected to reach its nameplate capacity of 45 000 t/y of copper cathode and 3 500 t/y of contained cobalt in ten... 

Teck clinches Chile deposit with Global Copper acquisition

By: Liezel Hill     14th April 2008 Canadian base-metals-miner Teck Cominco will pocket another large copper deposit, this time in Chile, after agreeing to buy Vancouver-based junior Global Copper. Global controls the Relincho copper/molybdenum deposit, which, based on current resource estimates, would increase Teck Cominco's... 

Freeport working 'aggressively' to stay on schedule in DRC

By: Liezel Hill     12th April 2008 US mining group Freeport McMoRan Copper & Gold is “working aggressively” to stay on schedule at its Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo, communication VP Bill Collier said on Friday. “We have not changed our 2009 target date for initial... 

UK panel sets May 16 deadline for Eurasian to announce Kazakhmys offer

11th April 2008 LSE-listed Eurasian Natural Resources (ENRC) must either announce a “firm intention” to make an offer for fellow Kazakh miner Kazakhmys by May 16 or walk away for six months, the UK Takeover Panel has ruled. 

Konkola’s resource more than doubled –Teal

By: Matthew Hill     11th April 2008 Copper and gold hopeful Teal Exploration & Mining, 65%-owned by African Rainbow Minerals, at the weekend announced that it had more than doubled its measured and indicated resources at Konkola North’s south and east limb to 51-million tons of copper. The TSX- and JSE-listed firm said... 

JSE is ‘sophisticated’ attraction for African metals explorer

By: Dennis Ndaba     11th April 2008 Aim-listed mining and exploration company, Kiwara, says its recent listing on the JSE will enable the company to gain direct access to the South African investment community, which, it believes is “sophisticated and understands the business that the company is in”. 

Zimbabwe nickel project at full steam

By: Guy Copans     11th April 2008 Pan African resources company Mwana Africa decided to press ahead with its Hunter’s Road nickel project in Zimbabwe, following the improved outlook for nickel price since April last year, says Mwana Africa technical director Ken Owen.  

First Quantum Q1 output up 63% y-on-y

10th April 2008 Vancouver-based First Quantum Minerals increased first quarter copper production by 63% over the same period in 2007, to a record 75 600 t, the firm said on Thursday.  

ZCI finally wraps up KCM sale

By: Matthew Hill     10th April 2008 JSE-listed ZCI on Thursday announced that the final hurdle in its long-delayed deal involving the sale of its stake in Zambian copper mine Konkola Copper Mines (KCM) had been cleared. The Government of the Republic of Zambia had removed this transaction from the jurisdiction of the Zambian... 

Antofagasta partners Teal on Zambia copper prospects

By: Liezel Hill     8th April 2008 JSE- and TSX-listed Teal Exploration & Mining has agreed to sell as much as 50% in two exploration licences it holds in Zambia to Antofagasta Minerals, the firm said on Tuesday. Antofagasta had paid Teal $5-million for an initial 30% and agreed to spend $4,5-million, including $2-million in... 

Sunridge commissions scoping study for Eritrea project

By: Liezel Hill     8th April 2008 Vancouver-based Sunridge Gold has appointed Wardrop Engineering to complete a scoping study for its Emba Derho zinc/copper/gold/silver project, in Eritrea, the firm said on Tuesday.  

Kazakhmys asks for 'put-up or shut-up' deadline on Eurasian bid

By: Liezel Hill     8th April 2008 LSE-listed copper producer Kazakhmys has asked the UK Takeover Panel to set a deadline by which fellow Kazakh miner Eurasian Natural Resources (ENRC) must either announce its “firm intention” to make an offer for the company or walk away for six months.  

Full steam ahead for Zambia cobalt project

By: Liezel Hill     7th April 2008 Toronto-based Caledonia Mining hopes to complete a feasibility study on its Nama cobalt project, in Zambia, by early June, and will continue to work towards starting production as early as posssible next year, CEO Stefan Hayden said on Monday. The firm, which announced on Monday it had signed... 

Baja in talks with 'number' of partners on funding for Mexico project

By: Liezel Hill     7th April 2008 Vancouver-based Baja Mining is in “confidential discussions with a number of industry partners” with regard to funding for its El Boleo copper/cobalt project, in Mexico, the firm said on Monday. The company issued a statement as a”clarification” in response to media... 

Zambia's Konkola on course with $1bn mining project

By: Reuters     7th April 2008 Zambia's Konkola Copper Mines (KCM) is on track to complete construction of a major mine by 2010 under plans to lift total annual finished copper output to about 500 000 t, a company official said on Monday. Sam Equamo, the KCM communications advisor, also said the firm would launch... 

Caledonia inks sales agreements for two SA mines

By: Liezel Hill     7th April 2008 Toronto-based Caledonia Mining has signed formal sales agreements for its subsidiaries that own the mothballed Barbrook and Eersteling mines, in South Africa, the firm said on Monday. Eastern Goldfields SA will pay R70-million for the Barbrook mine, near Barberton, in Mpumalanga, and... 

Vedanta Resources CEO to retire

4th April 2008 LSE-listed base-metals producer Vedanta Resources has appointed Mahendra S Mehta as CEO from September 30, when the group's current chief, Kuldip K Kaura, will retire.  

We'll meet July deadline, says Mopani Copper furnace supplier

By: Dennis Ndaba     4th April 2008 Electric arc furnace supplier Tenova Pyromet is confident that it will meet its July deadline for the installation of a furnace at Mopani Copper mine, in Mufulira, Zambia. On completion, the furnace will be used for converting copper matte produced by the mine's Isasmelt furnace into blister... 

SA cricket’s golden boy has copper roots

By: Matthew Hill     3rd April 2008 Lightning-fast pace bowler Dale Steyn, who racked up a whopping five wickets in South Africa's second cricket test against India on Thursday, has roots in mining, with his father being copper producer Palabora Mining (Palamin) shaft mechanical supervisor Schalk Steyn. Schalk said that he... 

JSE exploration newcomer sets sights on Zambia’s metals 

By: Matthew Hill     3rd April 2008 Copper and uranium hopeful Kiwara - the second Aim-listed miner to take up a primary listing in Johannesburg this week - plans to complete a prefeasibility study and a feasibility study of targets in Zambia during the next two years, and could be producing in 2010, CE Peter Vivian-Neal said after... 

Oz junior gets new chairperson

By: Matthew Hill     2nd April 2008 ASX-listed Aim Resources on Wednesday said that chairperson Marc Flory had resigned with immediate effect, and that current director Vic Bradley would replace him. Flory left to pursue other business interests, the company said. Aim is developing the Perkoa zinc project in Burkina Faso, and is... 

Jubilee to take bigger stake in Tjate project

By: Matthew Hill     2nd April 2008 Aim- and JSE-listed platinum exploration and development company Jubilee Platinum said on Wednesday that South Africa's government had given it the thumbs up to further elevate its stake in its flagship Tjate project in Mpumalanga, of which it would now own 63%. The Department of Minerals... 

African Copper heads for first production, finalises underground plans

By: Liezel Hill     1st April 2008 Emerging copper firm African Copper, which hopes to produce the first concentrate at its flagship mine in Botswana next month, will publish plans for underground mining at the operation in the coming weeks, CEO Joseph Hamilton said on Tuesday. The mine, formerly known as the Dukwe project, was... 

Lundin Mining boosted zinc reserves 61% last year, copper up 2,8%

By: Liezel Hill     28th March 2008 Base-metals miner Lundin Mining increased its proven and probable zinc reserves by 61,4% year on year in 2007, while copper reserves were 2,8% higher on December 31 than a year earlier, the firm said on Friday. The company reported copper reserves of 19,38-million tons, and zinc reserves of... 

Explorer Kiwara to list in Johannesburg

By: Liezel Hill     28th March 2008 Aim-listed exploration and development company Kiwara plc plans to list on JSE on April 3, the company announced on Friday.  

Camec expands fundraising to £100m

By: Matthew Hill     28th March 2008 Democratic Republic of Congo-focused (DRC-focused) cobalt and copper miner Camec has decided to more-than-double the amount of money it plans to raise through issuing paper to £100-million. Previously it said that it would raise £43,5-million by issuing 72,5-million shares at 60p a... 

BHP Billiton cancels business with Standard Bank after 'misplaced' comments

By: Matthew Hill     28th March 2008 Both mining giant BHP Billiton and South African banking group Standard Bank were on Friday tight-lipped over the name of a senior bank executive who made remarks that led to the diversified miner taking its business away from the firm. This came after financial daily Business Day reported that... 

FNX sticks to its knitting, but keeps an eye out for potential targets

By: Liezel Hill     27th March 2008 Toronto-based FNX Mining would continue to prioritise its internal operations and pipeline of prospects, but would not discount the possibility of acquisitive growth, chairperson Terry MacGibbon said on Thursday. The company, which produces nickel, copper, platinum-group metals, gold and cobalt... 

No decision on retrenchments – BHP Billiton

By: Sapa     27th March 2008 No decision has been made on retrenching workers from BHP Billiton's Bayside aluminium smelter in Richards Bay, a spokesperson said on Thursday. BHP Billiton’s Bronwyn Wilkinson said that no decision had been made on retrenchments and that the company was not planning to send out... 

Teck Cominco, Inmet agree to go ahead with Panama copper project

By: Liezel Hill     27th March 2008 Canadian miner Teck Cominco has opted into the Petaquilla project in Panama, confirming late on Wednesday that it would exercise its right to earn a 26% interest in the project. Teck has signed an agreement with fellow Canadian Inmet Mining for the next phase of the development of the project,... 

Norilsk's Breese to head gold-miner GBS

By: Liezel Hill     26th March 2008 TSX-listed gold-miner GBS Gold International has appointed Peter Breese as president and CEO, effective August 1, the company said on Wednesday. Breese was the COO of nickel-miner LionOre Mining International when it was acquired by Norilsk Nickel, and currently heads the group's... 

Turkish court halts development at Inmet's Cerattepe project

By: Liezel Hill     26th March 2008 An administrative court in Turkey has granted an injuntion against further development work at the Cerattepe copper project, owned by Canada's Inmet Mining, the firm said on Wednesday. The injunction was granted after two nongovernmental organisations applied to the court to cancel the... 

Angus & Ross expects output at Greenland zinc mine by year-end

By: Liezel Hill     26th March 2008 LSE-listed Angus & Ross (A&R) expects to receive a mining licence in June for its Black Angel zinc/lead mine, in western Greenland, and is confident that it will begin production this year, the firm said on Wednesday. The company submitted its mining licence application in February to... 

Yamana posts full-year profit on acquisitions, new mine

By: Liezel Hill     26th March 2008 Canadian gold-miner Yamana Gold has reported net earnings for 2007 of $157,2-million, compared with a loss of $70,2-million a year earlier. Fourth quarter net income rose to $47,1-million, from $6,14-million in the same period of 2006. 

Kazakh govt wants stake in Kazakhmys

By: Liezel Hill     25th March 2008 LSE-listed copper producer Kazakhmys has held preliminary talks with the government of Kazakhstan, including the possibility of the government taking a minority stake in the company in exchange for natural resource assets in the country, the firm said on Tuesday. The proposal was one of a... 

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