R/€ = 14.76 Change: 0.01
R/$ = 11.94 Change: -0.01
Au 1347.50 $/oz Change: 1.32
Pt 944.00 $/oz Change: 0.37

Base Metals News

Burlington starts oil production from Algeria

     9th July 2003 US oil exploration company, Burlington Resources, said yesterday it has started production from its Menzel Lejmat North (MLN) oilfield in Algeria. 

Queensland copper prospect to be explored

     9th July 2003 Australian resources company Malachite has secured a new exploration copper-gold-silver prospect in north Queensland. 

Global copper output falls

     8th July 2003 A drop in Zambian copper output due to smelter repairs and losses in Serbia because of insufficient funds are partly to blame for cuts in Reuters Metal Production Database (MPD) copper output forecasts for Africa and Eastern Europe. 

Alcan may have to sell Pechiney assets in takeover

     8th July 2003 Canadian aluminium maker Alcan's takeover bid for Pechiney, if successful, could lead to the disposal of some of the French firm's European downstream assets to overcome competition concerns, analysts said yesterday. 

Copperbelt: where to now?

By: nkolola halwindi     7th July 2003 Arguably, the best thing about the privatisation of Zambia’s mines is that it appears finally to be drawing to a close. 

Australian alumina plant to increase output

     4th July 2003 Alcoa said yesterday it would spend A$400-million to expand its Pinjarra alumina refinery in Western Australia state by 2005. 

Copper-mine implements management system

     4th July 2003 The world’s largest openpit copper-mine in terms of production, Minera Escondida, has implemented Modular Mining’s IntelliMine integrated mine management system. 

Copperbelt: where to now?

By: nkolola halwindi     4th July 2003 Arguably, the best thing about the privatisation of Zambia’s mines is that it appears finally to be drawing to a close. 

Zambia says Swiss firm ups Ramcoz offer

     3rd July 2003 Zambia said yesterday that Swiss firm J and W Investments had raised its offer for the shuttered copper and cobalt group Roan Antelope Mining Corporation of Zambia (Ramcoz), initially priced at more than $7-million. 

Nigeria seeks to sell stake in aluminium smelter

     2nd July 2003 Nigeria said yesterday it was seeking to divest up to 70% of its equity stake in its Alscon aluminium smelter to one of two suitors who will be selected as a core investor next week. 

New Zambian copper-gold mine to be commissioned next year

     27th June 2003 Canadian miner First Quantum Minerals will commission its Kansanshi copper-gold deposit in Zambia in the fourth quarter of 2004, it said earlier this week. 

Financing announced for copper-gold drill in Alaska

     25th June 2003 Canadian miner Northern Dynasty Minerals announced this week that it had reached an agreement with private mining finance company to complete a $5-million private-placement deal, which will be used at the Pebble gold-copper exploration project in Alaska. 

Aluminium group targets 400 000 t from Asian unit

     24th June 2003 Canada-based Alcan's only aluminium rolled products maker in Asia said yesterday it would produce over 400 000 t this year, up 14% from 2002, with a target of 500 000 t in 2005. 

GM expects to use more copper in cars

     23rd June 2003 Automaker General Motors Corp's copper usage per vehicle is expected to increase at a modest pace as new electrical, communications and other systems require more wiring in its cars and trucks, especially in hybrids. 

Soft demand weighs down E Asian aluminium prices

     20th June 2003 Most South Korean and Taiwan aluminium importers have ended premium talks for long-term Western supply contracts, tracking their Japanese counterparts in trimming term premiums partly due to sluggish demand, traders said yesterday. 

Collahuasi copper mine upgrade on track

     20th June 2003 A $650-million expansion at the Collahuasi copper mine in Chile is 40% complete and on schedule for completion in June 2004, a senior company official said on Wednesday. 

Pechiney still keen on Corus aluminium assets

     19th June 2003 French metals company Pechiney said on Tuesday it was still interested in buying some of Corus Group's aluminium assets if the Anglo-Dutch company put them up for sale again. 

Copper miner in new Kansanshi funding deal

     19th June 2003 Canadian miner First Quantum Minerals announced this week that it has entered into an agreement with a syndicate of underwriters, which have agreed to purchase from and then sell to the public five-million common shares, resulting in gross proceeds of C$26,75-million. 

$400m Chile copper project announced

     18th June 2003 The joint venture partners in the Escondida copper mine in northern Chile have announced approval of the $400-million Escondida Norte project. 

US aluminium orders remain low

     13th June 2003 The Aluminum Association's latest figures show US aluminum orders for all categories rose a seasonally adjusted 19% in May over month-earlier figures, according to BB&T Capital Markets' research report citing the data on Wednesday. 

Nigeria to select aluminium smelter buyer in July

     10th June 2003 Nigeria will select its preferred buyer for the mothballed Aluminium Smelter Company of Nigeria (Alscon) in July, four years after it was shut down, a public enterprises official said yesterday. 

DRC in talks with Kinross on copper deal

     5th June 2003 Democratic Republic of Congo hopes to ramp up dwindling copper production through a deal involving Canada's Kinross Gold Corporation to refurbish its Kamoto mine with $135-million, a top official said. 

Kaiser’s Valco smelter to operate fully by 2006

     2nd June 2003 Kaiser Aluminum and Chemical Corporation said on Friday it signed a memorandum of understanding with Ghana and Volta River Authority for its 90% owned Volta Aluminum (Valco) smelter in Ghana to be fully operational by January 2006. 

Russian aluminium producer to raise output

     30th May 2003 Russia's top aluminium producer RusAl will raise production by 1,25-million tons within the next five years by building a new smelter, buying existing ones and expanding current capacity, a top official said yesterday. 

S Korea’s imports of Chinese aluminium rising

By: laurian clemence     29th May 2003 South Korea's imports of Chinese primary aluminium ingots have been soaring due to competitive prices and prompt shipments, and demand is expected to continue, traders said yesterday. 

Chinese zinc producer to raise output, capacity

     29th May 2003 to increase output to 80 000 t this year from 60 000 t in 2002, a company official said yesterday. Hongda, a top zinc producer in southwestern province of Sichuan, also planned to nearly triple its capacity to 300 000 t/yr in three years, which would make it one of the top zinc firms in China,... 

Negative outlook for zinc prices continues

     28th May 2003 World zinc prices, which during the last year fell to their lowest level in real terms since the Great Depression, are forcing miners to drive down their production costs – and, the outlook remains bleak. 

Chilean copper giant sees bright future for the metal

By: Keith Campbell     23rd May 2003 Giant Chilean copper-miner Codelco is strongly optimistic about the long-term future of copper & is making substantial investments to improve its competitiveness and add value. 

Copper set to rocket

By: Keith Campbell     23rd May 2003 Chilean copper mining giant Codelco is involved in what could reasonably be described as a prospecting joint venture (JV) that is out of this world. Quite literally. 

Zambia first quarter copper, cobalt output falls

     23rd May 2003 Zambian copper production fell to 74 310 t in the first quarter of 2003 from 77 813 t in the same period a year ago, Citibank Zambia said. 

Swiss miner on course with Zambian metals bid

     21st May 2003 Switzerland's J&W Investments Group remains on course with its bid for the majority holding in Zambian copper and cobalt producer Chambishi Metals, after conducting due diligence at the plant, J&W's chief financial officer said late on Monday. 

Zambia names Sterlite as KCM preferred bidder

     19th May 2003 Zambia said on Friday that India's Sterlite Industries was the preferred bidder for an equity stake in its Konkola Copper Mines (KCM), following the acrimonious exit of Anglo American as a partner last year. 

First zinc produced at Skorpion

By: Martin Czernowalow     19th May 2003 Mining giant Anglo American said on Friday that its wholly-owned Skorpion zinc mine has produced its first metal, after being completed within budget. 

Canadian miner eyes Tunisian zinc deposit

     12th May 2003 Canada's Breakwater Resources is in talks with Tunisia to develop an unmined zinc deposit, close to its existing Bougrine mine, southwest of the capital Tunis, its chief executive said. 

Copperbelt’s mining-to-farming diversification plan

By: Laura Franz     9th May 2003 Konkola Copper Mines (KCM) has taken a major step in the diversification of the Zambian Copperbelt from mining to agricultural and other sectors by embarking on a project to build a strong base of entrepreneurs. 

Konkola seeks to extend Nchanga lifespan

     9th May 2003 Zambia's Konkola Copper Mines (KCM) said on Thursday it had launched an exploration programme at its Nchanga open pit mine to try to extend its lifespan beyond the current three years. 

Gap between LME and China widens

     8th May 2003 China is reluctant to make spot export offers after the latest retreat in London Metal Exchange (LME) prices left domestic prices far above international levels, traders said on Wednesday. 

Swedish mining sees higher copper, zinc prices

     7th May 2003 Swedish mining sees higher copper, zinc prices "Inventories are low and demand from industry is on the rise," Jan Johansson told Reuters in a brief telephone interview after his company released its first-quarter results. 

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