R/€ = 15.73 Change: 0.00
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Base Metals News

Zinc surplus widens – study group

By: Liezel Hill     16th June 2008 The global zinc market was in surplus by 78 000 t during the first four months of this year, compared with an oversupply of 43 000 t during the same period of 2007, according to estimates from the International Lead and Zinc Study Group (ILZSG). Mine output, which increased 9,2% year on year, to... 

Antofagasta may buy stake in Metallica's Chile project

By: Liezel Hill     16th June 2008 Toronto-based Metallica Resources has agreed to give copper miner Antofagasta an option to earn up to a 70% interest in Metallica's Rio Figueroa copper/gold project, in Chile, the company said in a statement on Monday. Antofagasta can earn an initial 30% stake in the project by paying $50... 

Zinifex investors OK Oxiana merger, to create new zinc No 2

By: Liezel Hill     16th June 2008 The shareholders of Australian base-metals miner Zinifex on Monday voted to approve the takeover of the company by Oxiana, to create the newly-christened OZ Minerals, which will be the third-largest diversified miner in Australia, and the world's second biggest producer of zinc in... 

Katanga chief Arthur Ditto quits, Glencore to nominate replacement

By: Liezel Hill     16th June 2008 The president and CEO of TSX-listed Katanga Mining, Arthur Ditto, will step down for “personal reasons”, the company said on Monday. Ditto's resignation will be effective July 10, but he has offered to continue in his role beyond this date to assist with the handover to the new... 

New gold-stream company on the prowl for deals

By: Liezel Hill     13th June 2008 “Friends, Romans, countrymen, bring us your byproduct gold!” were the ebullient last words in a presentation on Friday from a clearly enthusiastic David Cohen, the CEO and executive chairperson of the world's first gold-stream firm, Gold Wheaton. Modelled on the successful... 

Copper and zinc hopeful to start scoping studies at Namibian targets in June

By: Chanel de Bruyn     13th June 2008 Aim-listed mining exploration group Kalahari Minerals on Friday said exploration activities at its copper and base-metal projects in Namibia had shown good drill results, adding that the projects were making good progress. The group had continued its exploration programme to define in excess of... 

African Copper appoints Fredericks as CEO

By: Creamer Media Reporter      13th June 2008 Aim-listed exploration firm African Copper has appointed its former COO, Christopher Fredericks as CEO, to take over from Joseph Hamilton who had resigned. Fredericks had been involved in base-metal mining and exploration in Zambia, Botswana and South Africa for over 29 years, and joined African... 

First Quantum gets shareholder approval to buy Finnish nickel firm

By: Matthew Hill     13th June 2008 TSX-quoted miner First Quantum Minerals on Friday said that Finnish acquisition target Scandinavian Minerals' shareholders had voted in favour of its C$281-million cash and share offer, first unveiled in April. First Quantum said that the deal was expected to become effective on June 18,... 

Bacteria doing sensational 98% recovery job for Finland nickel entrant 

By: Martin Creamer     13th June 2008 Bugs are helping to a new Nordic nickel entrant to hit the recovery high spots and hold its share price high despite the world’s credit crunch. 

All systems go for Nunavik nickel project

By: Liezel Hill     12th June 2008 TSX-listed Canadian Royalties has received a mine lease from Quebec's Natural Resources Ministry, for the Expo deposit on its Nunavik nickel project in the province, and expects to receive individual leases on the remaining Mesamax, Ivakkak and Mequillon deposits “shortly”, the... 

Rio Tinto pours first metal at Oman aluminium smelter

By: Liezel Hill     12th June 2008 The Sohar aluminium smelter, in Sohar, Oman, has poured its first metal and is expected to reach full production, at an initial 360 000 t/y, in December, diversified miner Rio Tinto said on Thursday. 

BHP accelerates plans to refurbish Australian nickel smelter

By: Creamer Media Reporter      12th June 2008 Diversified mining giant BHP Billiton will immediately begin the rebuild of its Kalgoorlie nickel smelter furnace in Western Australia, which has experienced significant deterioration. Owing to the furnace rebuild, the Kwinana nickel refinery would be shutdown for the duration of the rebuild,... 

Teck Cominco seals wage agreement with Trail smelter unions

By: Liezel Hill     11th June 2008 Vancouver-based Teck Cominco has reached a four-year contract agreement with the unions at its Trail lead and zinc smelter and refinery operations, in British Columbia, the company said.  

Lundin CEO upbeat on Tenke Fungurume project

By: Liezel Hill     11th June 2008 While the purchase of a stake in the Tenke Fungurume copper/cobalt project last year has proved a “value-destroying exercise” for the company so far, Lundin Mining CEO Phil Wright is determined to see it through to production, scheduled to begin towards the end of next year.... 

Rio Tinto to build $270m molybdenum plant in Utah

By: Liezel Hill     11th June 2008 Diversified miner Rio Tinto will spend $270-million on the construction of a molybdenum processing facility at its Kennecott Utah Copper (KUC) operations, in the US, the group announced on Wednesday. The new molybdenum autoclave process plant will enable lower-grade concentrate to be processed... 

Angloplat man to head up Braemore Resources

By: Creamer Media Reporter      10th June 2008 Anglo Platinum head of process control and instrumentation, Leon Coetzer, would take over as MD and CEO of Aim-listed nickel and platinum-group metal (PGM) producer Braemore Resources on July 1, Braemore announced on Tuesday. The company said in a statement that Coetzer would initially divide... 

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Kazakhstan to swap shares in Eurasian for Kazakhmys stake

By: Liezel Hill     10th June 2008 LSE-listed miner Kazakhmys has agreed to buy a 7,66% stake in fellow Kazakh miner Eurasian Natural Resources (ENRC) from the government of Kazakhstan, in exchange for 15% of Kazakhmys, the company said on Tuesday. The exchange ratio will be 1 Kazakhmys share for 1,23 ENRC shares, and the deal... 

Inmet warns of possible production delays at Las Cruces

By: Liezel Hill     10th June 2008 TSX-listed Inmet Mining believes it has come up with a solution to the Spanish water authority's concerns over a water system at its Las Cruces project in the country, but cautioned on Monday evening that the start-up of the processing plant, and first cathode production, could be delayed.... 

Aura Minerals joins producers' ranks with Mexico mine acquisition

By: Liezel Hill     9th June 2008 Canadian junior Aura Minerals has completed the acquisition of the Aranzazau copper/gold/silver project, in Zacatecas, Mexico, and plans to increase production at the mine over the next two years, while moving its flagship development project, Arapiraca, in Brazil, through to feasibility study... 

Australian junior to explore for nickel at Barrick mine

By: Liezel Hill     6th June 2008 ASX-listed Apex Minerals has entered into a second joint venture (JV) with gold giant Barrick Gold, in which Apex and its partner Carey Mining can earn a 70% interest in the nickel rights on certain tenements owned by Barrick's Lawlers mine, in western Australia.  

Weaker demand conditions prevailing as world economy slows – NCM

By: Irma Venter     6th June 2008 There is a selective bull market at play in the industrial commodities market, reports London-based Natixis Commodity Markets (NCM) in its second quarter metals review. 

Norilsk shelves Botswana Tati Activox plan on cost worries

By: Liezel Hill     4th June 2008 The world's biggest nickel producer, Norilsk Nickel, has indefinitely postponed plans for a project to refine nickel using Norilsk's patented Activox technology at the Tati Nickel operation in Botswana, after deciding that the cost of the project would outweigh the benefits. Internal... 

Metorex enthused by ‘positive’ DRC developments

By: Matthew Hill     3rd June 2008 Diversified-miner Metorex on Tuesday welcomed positive comments that a Democratic Republic of Congo (DRC) government official made this week regarding the company's operations in the central African state, saying that the firm had had a "successful and satisfactory" meeting with... 

HudBay reports fatality at US mine

2nd June 2008 A miner was killed on Saturday as a result of a rockfall at Canadian miner HudBay Minerals' St Lawrence zinc mine, in Balmat, New York, the company said in a statement.  

Teal reports encouraging results from DRC copper prospect

By: Liezel Hill     30th May 2008 TSX- and JSE-listed Teal Exploration & Mining on Friday published additional high-grade drilling intersections from its Lupoto copper prospect, in the Democratic Republic of Congo (DRC).  

Teck Cominco working with officials after refinery spill, output unaffected

By: Liezel Hill     30th May 2008 US and Canadian government departments and agencies were monitoring potential human and environmental health effects on Friday, after diversified miner Teck Cominco reported that about 950 kg of lead in solution had spilled into the Columbia river, after a technical failure at its Trail lead and... 

Nickel Institute calls for more research to improve vehicle fuel efficiency, slash emissions

By: Leandi Kolver     30th May 2008 Nickel also makes the burning of fossil fuels more efficient by reducing leaks in the critical fuel delivery system of vehicles. Fuel filler tubes made of S30403 stainless steel (containing about 10% nickel), for example, are more corrosion resistant than carbon steel tubes, and using these tubes... 

Moly Mines finalising mine plan, expects increase in reserves at Aus project

By: Liezel Hill     29th May 2008 TSX- and ASX-listed Moly Mines is finalising a long term mine plan for its Spinifex Ridge project, in Western Australia, and expects to announce a “significant” increase in reserves from the current 315-million tons, the company said on Wednesday. 

FNX Mining hikes '08 cost forecasts

By: Liezel Hill     29th May 2008 Toronto-based base-metals-miner FNX Mining Company has increased its cost guidance for the year, because of steeper third-party processing costs and start-up costs at the company's newest operation, the Podolsky mine. Average mining and processing costs for 2008 are now forecast at $135/t,... 

Rio confirms SA aluminium smelter delayed to 2012

By: Christy van der Merwe     29th May 2008 Aluminium producer Rio Tinto Alcan on Thursday indicated that it expected its Coega aluminium smelter to only come on line in 2012. Rio Tinto Alcan Aluminium CEO Dick Evans said that South Africa's power constraints meant that the energy-intensive project on the country's South East... 

Albidon held ‘confidential’ talks with several parties as strategic review continues

By: Matthew Hill     29th May 2008 Nickel- and uranium-miner Albion has held "confidential discussions with a number of parties" as part of a strategic review of the company's growth options, after a shareholder said last month that it was putting its one-fifth holding up for sale. Australian media suggested... 

Metalloinvest may take stake in Norilsk, but merger talks called off

By: Liezel Hill     28th May 2008 The world's biggest producer of nickel and palladium, Norilsk Nickel, has called off discussions with Russian iron-ore and steel producer Metalloinvest. The company said in February that it was beginning a process of discussions with Metalloinvest, which is controlled by billionaire Alisher... 

Angus & Ross receives mining permit for Greenland zinc mine

By: Liezel Hill     28th May 2008 Aim-listed exploration and development firm Angus & Ross has been awarded a 30-year licence to mine zinc, lead and silver ore from its Black Angel mine, in western Greenland, opening the way for the company to restart the mine later this year, as planned. The company has started building a... 

Rio Tinto announces ‘substantial' nickel resource in Indonesia

By: Creamer Media Reporter      28th May 2008 Diversified-miner Rio Tinto has strengthened its presence in Indonesia with the reporting of a 162-million ton lateritic nickel resource at its Sulawesi nickel project, along with substantial potential to outline further mineralisation through additional exploration. The 162-million ton resource... 

Griffin agrees to repurchase 79,85m shares

By: Liezel Hill     27th May 2008 Aim-listed Griffin Mining gained 6,51% on Tuesday, after the company announced that it would buy back 79,85-million shares in the company from Citadel Equity Fund, at £0,765 each. 

Crowflight names new CFO

By: Liezel Hill     26th May 2008 TSX Venture Exchange-listed exploration and development company Crowflight Minerals has appointed Anna Ladd as the company's new CFO.  

Goldcorp backs development of BC copper/gold mine

By: Liezel Hill     26th May 2008 Canada's second-biggest gold-miner, Goldcorp, will guarantee a term credit facility of up to C$40-million, to fund the construction of the Mt Milligan copper/gold project, in British Columbia, Canada. Goldcorp holds 58% of junior Terrane Metals, which owns the project. 

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