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Base Metals News

Freeport McMoRan president, COO Tim Snider to retire

By: Liezel Hill     13th December 2007 The world's biggest publicly-traded copper producer, Freeport McMoRan said on Thursday that its president and COO, Tim Snider, would retire on April 1, 2008. 

DRC blocked copper shipments to Zambia - First Quantum

By: Liezel Hill     12th December 2007 Democratic Republic of Congo (DRC) focused copper-miner First Quantum Minerals will soon begin transporting copper concentrate from its Frontier mine to smelter facilities in Zambia, after a government order halted the shipments last month, the company said on Wednesday.  

London-listed miner reports 46% increase in Botswana copper resource

By: Olivia Soraya Spadavecchia     10th December 2007 Aim-listed Discovery Metals Limited reported a further 46% increase in the total inferred resource in the company's wholly owned Maun copper project in north-west Botswana. 

Production back to normal at Honduras zinc mine

By: Liezel Hill     7th December 2007 TSX-listed Breakwater Resources said on Friday that milling operations at its Mochita zinc mine, in Honduras, had returned to normal levels. 

Xstrata has 36,12% of Jubilee Mines, extends offer to Jan 31

By: Liezel Hill     7th December 2007 Xstrata Nickel Australia, a wholly owned subsidiary of Xstrata, has extended its recommended takeover offer for Australian nickel-producer Jubilee Mines to January 31, the group said on Friday.  

Anglo-linked company scours the ocean floor for precious and base metals

By: Irma Venter     7th December 2007 There is quite a bit more underneath the sea than diamonds and oil. 

Firestone takes control of Canadian gold project

By: Liezel Hill     6th December 2007 Canada-based exploration and development company Firestone Ventures has excercised its option to earn an 80% interest in the Sonora gold/silver/copper/molybdenum project, in Canada's Yukon Territory. 

First Quantum lifts stake in Equinox to 17,27%

By: Liezel Hill     6th December 2007 Zambia-focused copper-miner First Quantum said on Thursday that it had bought an additional 7,32% of rival Equinox Minerals, bringing its holding in the company to 17,27%. 

Palamin to spend R200m on studies to boost copper reserves, iron-ore output

By: Liezel Hill     6th December 2007 JSE-listed Palabora Mining (Palamin) has approved R200-million for a study of additional underground copper reserves (R150-million) and a prefeasibility study into expanding iron-ore outputt, the firm said in a statement on Thursday. 

Anglo American may get new neighbours in Peru

By: Liezel Hill     6th December 2007 Two Chinese companies - one publicly listed and the other State-owned - have offered to buy TSX-listed Northern Peru Copper, which owns the Galeno project in Peru, for C$13,75 a share in cash. 

Norilsk appoints Oleg Lobanov finance director

6th December 2007 World-number-one nickel and palladium producer Norilsk Nickel has appointed Oleg Lobanov to the position of deputy general director for finance, effective January 9, the company said on Thursday. 

Namibian copper-miner stops dewatering campaign after power cuts

6th December 2007 Aim-listed integrated base metals producer Weatherly International, which owns copper mining and smelting operations in Namibia, has its dewatering campaign below the water at its Kombat underground mine. 

African Eagle starts drilling at Zambian copper prospect

6th December 2007 African Eagle Resources, which recently listed in the JSE, has started diamond drilling at its Mokambo copper project, which it jointly explores with Copperbelt Minerals, in Zambia, the company said on Thursday.  

Oz firm agrees to buy BHP's Snowbird nickel project in Canada

By: Liezel Hill     6th December 2007 Australian exploration company Western Metals has agreed to buy diversified mining giant BHP Billiton's Snowbird nickel project, in Canada's Northwest Territories, for $1,5-million, the company said on Thursday. 

Metorex offers to buy rest of Copper Resources

By: Liezel Hill     5th December 2007 As promised, diversified miner Metorex has offered to pay cash or shares for the shares in Copper Resources Corporation (CRC) that it does not already own. 

Geovic receives feasibility study for Cameroon cobalt/nickel project

By: Olivia Soraya Spadavecchia     5th December 2007 TSX-listed Geovic Mining's subsidiary Geovic Cameroon (GeoCam) has received a feasibility study on the Nkamouna cobalt/nickel project, in Cameroon, which indicated that yearly cobalt production has increased by 26% to 9,2-million pounds and nickel production by 17% to 7-million pounds, it... 

Xstrata announces additional resources at nickel, copper projects

By: Christy van der Merwe     5th December 2007 Diversified-miner Xstrata on Wednesday announced increased inferred resources for two of its projects, namely Xstrata Nickel's Raglan operation in northern Quebec, and Xstrata Copper's Tampakan operation in the Phillipines. 

Zambian copper prefeasibility study nearing completion – African Eagle

4th December 2007 Africa-focused exploration company African Eagle Resources said on Tuesday that the prefeasiblity study for its Mkushi joint-venture (JV) copper project, in Zambia, would be completed by the end of January 2008. 

Mwana expects Zim unit to report loss on currency depreciation

By: Liezel Hill     3rd December 2007 LSE-listed Mwana Africa could post a loss of up to £4-million for the six months ended September 30, as a result of the "severe impact" of the depreciation of the Zimbabwean dollar, the company said on Monday. 

Nikanor halts production at Kolwezi

3rd December 2007 Copper-miner Nikanor said on Monday that it had suspended production at its Kolwezi plant in the Democratic Republic of Congo, after equipment had been damaged. 

AIM Resources announces A$25m financing plan for exploration, development

By: Olivia Soraya Spadavecchia     3rd December 2007 ASX-listed AIM Resources has finalised the details of a revised A$25-million convertible debenture offering, the company reported on Monday. 

Japan helping South Africa towards creating technology-based economy

By: Esmarie Iannucci     30th November 2007 South Africa and Japan this month signed a joint statement on minerals.  

DRC needs sound legal systems, says World Bank

By: Bloomberg     30th November 2007 The Democratic Republic of Congo (DRC), which has a tenth of the world's copper reserves, must create sound legal systems, if it is to attract more private investors and kick-start growth, the World Bank says. 

Miner targets platinum, coal and nickel expansion

30th November 2007 Diversified mining group Xstrata Resources (Xstrata) is targeting the platinum, coal, and nickel sectors in a move to achieve company growth.  

Sepon mine, Laos

By: Carla Thomaz     30th November 2007 Location: The Sepon copper mine is situated 40 km north of the town of Sepon, in Savannakhet province, south-central Laos. 

Diversified miner to develop New Caledonia project

30th November 2007 Diversified mining company Xstrata plc has approved the development of the Koniambo project, a major long-life, low-cost, openpit nickel mine, metallurgical plant and associated infrastructure, located in the North Province of New Caledonia last month.  

Xstrata gain access to Australian nickel

30th November 2007 The world's fourth largest nickel miner Xstrata has agreed to buy Jubilee Mines NL for A$3,1-billion ($2,9-billion) to gain access to the metal in Australia. 

$3,2bn in place for Ambatovy nickel/cobalt project

By: Innocent Madawo     30th November 2007 Production at one of the world's largest nickel- and cobalt-mining and processing ventures, the Ambatovy project, in the Indian Ocean island nation of Madagascar, is set to begin in 2010. 

Anglo American approves $1,7bn copper mine

By: Christy van der Merwe     28th November 2007 Diversified mining giant Anglo American on Wednesday announced the approval of $1,7-billion, to fund the expansion of the company’s Los Bronces copper project in Chile.  

Katanga Mining begins cold commissioning at DRC plant

By: Matthew Hill     27th November 2007 TSX-listed copper-miner Katanga Mining has started cold commissioning its Luilu plant, and that the refurbishment of the concentrate roaster was complete, it said on Tuesday. 

Canadians rope in Koreans to raise capital for Namibian uranium venture

By: Felix Njini     23rd November 2007 Toronto Stock Exchange-listed Forsys Metals Corporation has roped in Korean nuclear energy firm Korea Hydro & Nuclear Power Company (KHNP) to help raise capital for its Namibian uranium venture which, company officials say, is to take off in 2009. 

Albidon to start drilling for nickel in Botswana

20th November 2007 Australia-based exploration company Albidon said on Tuesday that it would start a drilling at the Sunnyside and Kgwedi nickel prospects, in Botswana, in the next two weeks.  

Africo, IFC conclude financing deal for DRC project

By: Olivia Soraya Spadavecchia     19th November 2007 Canadian minerals company Africo Resources has concluded a C$4-million financing arrangement with the International Finance Corporation (IFC) to support the development of the company's Kalukundi project. 

Metal accounting code of practice necessary for mining industry, says professor

By: Brindaveni Naidoo     16th November 2007 Establishing a Code of Practice for metal accounting is necessary in the mining industry, as it aims to create a set of standard generic procedures and guidelines for obtaining credible figures of metal quantities processed and produced, and to obtain a metal balance over an operation. 

Chile quake hits BHP copper mines

By: Matthew Hill     15th November 2007 The world's biggest mining company, BHP Billiton, on Thursday said that operations at three of its Chilean copper mines had halted after a massive earthquake shook parts of the country.  

‘Responsible’ mining firms welcome in Katanga – governor

By: Matthew Hill     14th November 2007 A top official in the Democratic Republic of Congo (DRC) has reiterated that responsible mining companies need not fear the review the country is doing on mining permits. 

Over 98% of Alcan shares tendered as Rio Tinto’s offer expires

By: Matthew Hill     9th November 2007 Global diversified miner Rio Tinto, which has become a target of bigger peer BHP Billiton, on Friday said that over 98% of the Alcan shares it offered to buy on July 12, had been tendered by the closing date, on Thursday. 

Mining giant donates R1m to rebuild burnt KZN old-age home

By: Matthew Hill     9th November 2007 A South African division of the world's biggest mining group, BHP Billiton, has donated R1-million to rebuild the KwaZulu Natal old age home that was damaged by fire this week. 

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