R/€ = 14.84 Change: 0.04
R/$ = 12.09 Change: 0.01
Au 1333.95 $/oz Change: -7.15
Pt 926.00 $/oz Change: -5.99

Base Metals News

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. 

Ample supply to keep aluminium in surplus

     5th May 2003 Expansions to aluminium capacity in the next few years will keep the metal in significant supply surplus and prices weak, as demand fails to match rising output, but analysts say this has not deterred producers from planning the next wave of projects. 

Cash-flow woes threaten empowerment tin hopeful

By: Joanne Delaurentis     2nd May 2003 Cash-flow problems experienced by black-controlled resources company Phamine Mining Holdings have resulted in the company’s Leeuwpoort smelter standing idle, CEO Johan de Witt informs Mining Weekly. 

China launches giant aluminium group

     30th April 2003 China formally launched this week a giant aluminium group called the Aluminium Industry Group of China, in an effort to boost competition and rein in the country's overheated aluminium expansion. 

Glencore leads charge for premier Zambian mines

     29th April 2003 Swiss trader Glencore International is leading four other bidders seeking to purchase a stake in Zambia's premier Konkola Copper Mines (KCM), industry sources said yesterday. 

Zambia shortlists four bidders for Konkola

     25th April 2003 Zambian authorities have named four companies on the short-list for the purchase of a stake in Konkola Copper Mines, as Zambia seeks investment to ensure its largest mining company is modernised. 

BHPB’s oil slide offset by mineral rises

     24th April 2003 The world's largest diversified miner, BHP Billiton, said yesterday third quarter oil and condensate production fell 22% over the same period a year ago, as output from mature fields declined. 

First Quantum revises 2003 output for Zambia mine

     23rd April 2003 Canada's First Quantum Minerals said yesterday its Bwana Mkubwa copper mine in Zambia would reach full capacity in May, but the mine's 2003 output would be lower than expected. 

Kansanshi copper project

     18th April 2003 Name of the project and location Kansanshi copper project, located in the North-western Province of Zambia, approximately 15 km north of the town of Solwezi and 16 km south of the Democratic Republic of Congo border. Project description The project involves the construction of the Kansanshi which... 

Swiss group begins African safari in Zambia

By: Martin Zhuwakinyu     18th April 2003 The planned acquisition of copper/cobalt assets in Zambia by J&W Holding AG could be a stepping stone into Africa by the Swiss group, which has extensive mining and natural-resources interests in the former Soviet Union. 

Study on new Zambian copper project by July

     18th April 2003 A bankable feasibility study (BFS) for the Lumwana copper-cobalt project in north west Zambia is on schedule and on budget for completion in July 2003. 

Chinese zinc refiners protest low margins

     17th April 2003 Dismal treatment charges are pressuring China's key zinc firms to trim output targets and limit imports of raw material this year, company officials and analysts said yesterday. 

Ample supply to keep aluminium in surplus

     16th April 2003 Expansions to aluminium capacity in the next few years will keep the metal in significant supply surplus and prices weak as demand fails to match rising output, but analysts say this has not deterred producers from planning the next wave of projects. 

WMC Resources on track for profit target

     16th April 2003 Australian miner WMC Resources said yesterday it was on track to achieve its 2003 production and profit forecasts despite a first-quarter slip in copper and nickel output. 

Glencore seen as leading bid for Konkola

     15th April 2003 Swiss trader Glencore International AG is leading four other bidders seeking to purchase a stake in Zambia's premier Konkola Copper Mines (KCM), industry sources said on Monday. 

Zambia expects copper output to rise in 2003

     11th April 2003 The Bank of Zambia said this week total monthly copper production dropped to 22 286 t in February this year from 23 785 t a year earlier, but predicted annual output would rise in 2003. 

Mozal II produces first aluminium

     9th April 2003 The world’s largest diversified miner, BHP Billiton, announced yesterday that the first aluminium was cast at its expansion project at the Mozal II aluminium smelter near Maputo, in Mozambique. 

Chinese aluminium output climbs strongly

     8th April 2003 The faster-than-expected expansion of China's aluminium industry is the major driving force behind rising global aluminium smelter capacity and output forecasts this year and next, the Reuters Metal Production Database (MPD) shows. 

Konkola posts $159m loss for 2002

     8th April 2003 Zambia's Konkola Copper Mines (KCM) yesterday posted a consolidated loss of $159-million for 2002, the year that saw the exit of its key shareholder, diversified mining giant Anglo American. 

China to offer tax rebates on copper concentrates

     7th April 2003 China will offer rebates for taxes on copper concentrate imports to producers this year, to help ease the pain caused by a chronic shortage of raw materials, smelter officials said on Friday. 

Smelter repairs slow first quarter output at Konkola

     7th April 2003 The closure in December of units of the Nkana smelter for repairs slowed copper and cobalt production at Zambia's premier Konkola Copper Mines (KCM) in January and February, the firm said last week. 

Guinea concerned about drop in bauxite revenues

     4th April 2003 Guinea's bauxite revenues have fallen by about 30% between 1998 and 2002 because of deteriorating quality and a drop in world prices, a senior official at the mines ministry said this week. 

Zambian mine’s rock-winder refurbished

     4th April 2003 The refurbishment and upgrade of a Koepe rock winder underground at Mopani Copper Mines in Zambia is currently being completed. 

Underground rolling-stock production increasing due to mining expansion

By: candice haase     4th April 2003 The increased activity in the mining sector in Southern Africa continues to stimulate growth in the production of underground mine rolling stock. 

Nigeria completes aluminium smelter equity restructure

     3rd April 2003 Nigeria said yesterday that shareholders of its mothballed aluminium smelter ALSCON have agreed on a new equity structure for the company, paving the way for its planned sale in May. 

China aluminium smelters to close old lines – report

     2nd April 2003 Eight major Chinese aluminium smelters plan to close older production lines with combined capacity of 450 000 t/y by the end of 2005, the official Xinhua news agency said yesterday. 

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