R/€ = 15.68 Change: -0.03
R/$ = 13.46 Change: -0.03
Au 1268.34 $/oz Change: 0.24
Pt 878.00 $/oz Change: 13.83

Base Metals News

Great Panther to decide on Coricancha restart in early 2019

By: Simone Liedtke     1st June 2018 Vancouver-based Great Panther expects to be able to make a decision in early 2019 about restarting the past-producing Coricancha precious and base metals mine that it bought in June last year. The gold/silver/zinc/copper underground mine and mill complex, east of Lima, in Peru, has a 600 t/d... 

Congo Supreme Court rejects Glencore bid to move dissolution case

By: Reuters     1st June 2018 Congo's Supreme Court has rejected claims by a Glencore unit that a commercial court is not competent to hear a petition to dissolve it brought by State miner Gecamines, a Gecamines lawyer said on Friday. Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming majority-owner... 

Antofagasta reports its tax and fees payments to Chile and the US

By: Rebecca Campbell     1st June 2018 UK-domiciled, London Stock Exchange- (LSE-) listed mining group Antofagasta plc last year paid $316 833 000.00 to Chilean, and $206 000.00 to US, Government authorities in taxes and fees. The company released this information on Friday in its “2017 Report on Payments to Governments”. The release... 

Orion receives extended bridge loan term to progress Northern Cape projects

By: Marleny Arnoldi     1st June 2018 ASX- and JSE-listed exploration and development company Orion Minerals has received an extension on its $6-million bridge loan term from mining-focused private equity group Tembo Capital, from May 31 to September 30.  

Weatherly shares suspended as water ingress at Tschudi creates uncertainty

By: Anine Kilian     1st June 2018 Aim-listed Weatherly International has requested a suspension in the trading of its shares, effective Friday, owing to the uncertain position of its Namibia-based Tschudi mine, as a result of significant water ingress.  The Tschudi openpit mine had recently experienced a rapid increase in... 

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

Sumatra halts operations at Tembang

By: Esmarie Swanepoel     1st June 2018 Metals miner Sumatra Copper & Gold has temporarily suspended openpit mining activities at its Tembang gold/silver project, in Indonesia. The company said on Friday that with the Berenai openpit mine scheduled to be completed during June, the majority of the remaining openpit reserves were... 

Codelco retains CEO Nelson Pizarro at helm of world's top copper producer

By: Reuters     1st June 2018 Chile's Codelco, the world's top copper producer, said on Thursday its board of directors asked CEO Nelson Pizarro to stay at the helm and move forward with an ambitious, ten-year overhaul of its sprawling but aging mines. The board made the decision to retain Pizarro in its first meeting since... 

‘Law does not adequately protect pregnant women working in risk environments’

By: Nadine James     1st June 2018 The legislature should amend the Unemployment Insurance Act (UIA) to protect pregnant employees working in risk environments, says Cliffe Dekker Hofmyer employment practice director Fiona Leppan. She says South African legislation does not provide adequate protection for pregnant women working in... 

‘Law does not adequately protect pregnant women  working in risk environments’
FIONA LEPPAN If the Unemployment Insurance Act were to be amended, it should address situations where pregnant women would be prejudiced because of the work environment – not because they are pregnant

Sentiment dampens as Charter, MPRDA deadline commitments are postponed

By: Nadine James     1st June 2018 The positive sentiment stemming from the appointment of President Cyril Ramaphosa, and the subsequent appointment of Mineral Resources Minister Gwede Mantashe has dampened recently as Mantashe pushed out the finalisation of the Mining Charter and lodged an application for leave to appeal against... 

Sentiment dampens as Charter, MPRDA deadline  commitments are postponed
WARREN BEECH Hogan Lovells’ Mining head believes Minerals Resources Minster Mantashe’s credibility has been adversely impacted by some of his recent comments

Solution enhances use rates for mine fleet

1st June 2018 A total fuel-filtration solution from power and engine multinational Cummins’ Fleetguard has ensured that a haul-truck fleet at a large copper mine in Zambia has achieved use rates of between 85% and 90%, after previously experiencing operational difficulties relating to substandard fuel... 

Solution enhances use rates for mine fleet
TOTAL SOLUTION Fleetguard provides a comprehensive filtration solution

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

US hits EU, Canada and Mexico with steel, aluminum tariffs

By: Reuters     31st May 2018 The United States on Thursday said it was moving ahead with tariffs on aluminum and steel imports from Canada, Mexico and the European Union, ending a two-month exemption and potentially setting the stage for a trade war with some of America's top allies. US Commerce Secretary Wilbur Ross told... 

Bezant raises £800 000 for Philippines and Argentina projects

By: Creamer Media Reporter      31st May 2018 Copper/gold exploration and development company Bezant on Thursday announced that it had raised £800 000 before expenses through a subscription and placing of shares at 0.36p each. The price represented a discount of about 17.2% to the closing mid-market price of 0.43p a share on Wednesday. 

Congo copper production in Q1 rises 8%; cobalt output up 34%

By: Reuters     31st May 2018 Democratic Republic of Congo produced 296 717 t of copper in the first quarter of 2018, up 8.2% over the same period last year, the central bank said in a report on Thursday. Cobalt production in the first quarter of 2018 rose 34.4% to 23 921 t, the bank said. 

Ukrainian workers sweat over fate of Deripaska's alumina plant

By: Reuters     31st May 2018 Ukraine's decision to put sanctions on one of Russia's wealthiest tycoons worries Vira Dudnyk. A driver at an alumina plant in southern Ukraine, she fears a tug-of-war between Kiev and Moscow may leave her jobless and on the streets. "We are afraid if the plant is closed, what are we left with,... 

Peru's Buenaventura seeks deal with Southern on copper project

By: Reuters     31st May 2018 Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2-billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary... 

Heron draws down Woodlawn funding

By: Esmarie Swanepoel     31st May 2018 ASX-listed Heron Resources has drawn down the first $20-million from the $60-million financing provided by Orion Mine Finance to construct the Woodlawn zinc/copper project, in New South Wales. Heron said on Thursday that the remaining $40-million remained undrawn and would be available to the... 

Trevali appoints new CFO

By: Anine Kilian     31st May 2018 Gerbrand van Heerden has been appointed CFO of zinc-focused base metals company Trevali, taking over from outgoing CFO Anna Ladd-Kruger, effective June 1. “Van Heerden’s extensive base metals and finance experience will provide a solid foundation to the company as it continues to evolve into a... 

Nalco firms up capex for current financial year

By: Ajoy K Das     31st May 2018 Indian government-owned aluminium producer National Aluminium Company Limited (Nalco) has set a capital expenditure (capex) target of $164-million for the 2018/19 financial year. According to an agreement signed with the Mines Ministry, the capex will be increasing on adding a... 

Peru's Minsur lines up financing to start work on Mina Justa this year

By: Reuters     30th May 2018 Peruvian miner Minsur expects to secure $800-million to $900-million in financing from a group of banks in August that will put it on track to start building its $1.6-billion Mina Justa copper project toward the end of the year, the company said on Wednesday. The banks - from Germany, Canada,... 

EU, US trade envoys meet on tariffs, outcome unclear

By: Reuters     30th May 2018 European Trade Commissioner Cecilia Malmstrom and US Commerce Secretary Wilbur Ross met in Paris on Wednesday to discuss looming US import tariffs on EU steel and aluminium, the European Commission said, but declined to speculate on the final outcome. US President Donald Trump has imposed... 

Miners warn Congo it faces $3bn revenue loss over law

By: Bloomberg     30th May 2018 Mining companies in the Democratic Republic of Congo told the government it will lose more than $3-billion over a decade and face legal action if plans to implement a new industry code proceed. Miners including Glencore and Randgold Resources are demanding the government abandon aspects of the... 

Waterberg DFS progresses, updated resource model expected in Q3

By: Marleny Arnoldi     30th May 2018 The definitive feasibility study (DFS) for TSX-listed Platinum Group Metals’ (PTM’s) joint venture Waterberg Project, in the Bushveld Complex, is progressing well and remains on track for completion at the end of the first quarter of 2019.  

White Cliffs hikes Aucu resource

By: Esmarie Swanepoel     30th May 2018 Junior White Cliff Minerals has reported a 60% increase in the resource at its Aucu copper/gold project, in the Kyrgyz Republic. The Aucu deposit is now estimated to host some 2.95-million tonnes of ore, grading 5.1 g/t gold for 484 000 o z of gold, which was a 60% increase in ounces of... 

Nzuri raises funds for DRC project

By: Esmarie Swanepoel     30th May 2018 Base metals company Nzuri Copper has raised A$6-million through a share placement and convertible loan to advance its Kalongwe copper/cobalt project, in the Democratic Republic of Congo. The ASX-listed company told shareholders that it had received binding commitments to raise some... 

‘There is no knowing where the change will end’ – analyst

By: Henry Lazenby     30th May 2018 The wave of change that the electrification of automobiles brings is moving beyond electric vehicles (EV) to the micro, artificial intelligence and autonomous mobility options, which should increasingly be brought into the outlook for the burgeoning market. “Big gambles and bold leadership does... 

‘There is no knowing where the change will end’ – analyst

Exploration under way at Orion Minerals’ Northern Cape prospecting licences

By: Marleny Arnoldi     29th May 2018 Exploration and development company Orion Minerals has started fieldwork in the Areachap Belt, in the Northern Cape.  

Altus granted new zinc, copper licences in Morocco

By: Simone Liedtke     29th May 2018 Aim-listed Altus Strategies’ wholly-owned subsidiary Aterian Resource has been granted new exploration licences that target zinc and copper, in Morocco. The Ammas, Takzim Est and Arfa licences cover 87.55 km2. 

Insimbi achieves higher revenue, gross profit in FY18

By: Simone Liedtke     29th May 2018 JSE-listed Insimbi Refractory and Alloys Supplies will be adding a significant value uplift to its chrome and aluminium businesses when it starts supplying powder-makers with a lower-grade aluminium content powder. It will start taking orders for this product in July, Insimbi CEO Fred Botha told... 

Copper supply shock hits India as top plant ordered to close

By: Bloomberg     29th May 2018 India faces a copper supply shock after a state government ordered billionaire Anil Agarwal’s Vedanta to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company’s shares fell. The Tamil Nadu government directed... 

Phoenix raises funds for Idaho copper mine BFS

By: Creamer Media Reporter      29th May 2018 Aim-quoted, North American-focused Phoenix Global Mining on Tuesday announced that it would raise £3-million to further advance the historically producing Empire mine in Idaho, in the US. Phoenix would deploy the proceeds of the raising to build on the April 2018 preliminary economic assessment... 

Metalicity expands on spin-off details

By: Esmarie Swanepoel     29th May 2018 ASX-listed Metalicity on Tuesday revealed more details around the spin-off of its Admiral Bay, Napier Range and Emanuel Range zinc projects into a newly minted subsidiary. Metalicity told shareholders that the company would vend the zinc projects into Kimberley Mining in exchange for... 

Avanco cuts Antas production

By: Esmarie Swanepoel     29th May 2018 Plant operations and most mining activities have been suspended at the Antas openpit mine, in Brazil, as a strike by truck drivers drags on. ASX-listed Avanco Resources has previously warned that operations at Antas would be affected by the strike, as fuel and consumables failed to be delivered... 

Guinea retains mining minister in Cabinet reshuffle

By: Bloomberg     28th May 2018 Guinea’s President Alpha Conde appointed a new 33-member Cabinet in which Abdoulaye Magassouba was retained as mines and geology minister, according to a decree read on the West African country’s state-owned broadcaster on Saturday. Mamady Camara, who was Guinea’s ambassador to South Africa, was... 

Indian state leader says will take all steps to shut down Vedanta's copper smelter

By: Reuters     28th May 2018 India's Tamil Nadu state deputy head said on Monday his government would take all steps to permanently shut a copper smelter run by London-listed Vedanta Resources after deadly protests demanding its closure on environmental grounds. Residents and environmental activists say emissions from the... 

Independence sells Jaguar mine for A$73m

By: Esmarie Swanepoel     28th May 2018 Metals miner Independence Group on Monday announced plans to divest of its Jaguar copper/zinc mine, in Western Australia, for A$73.2-million to CopperChem. The purchase consideration would consist of A$25-million in cash on the completion of the transaction and a further A$48.2-million in... 

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