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Base Metals News

Russia may buy aluminium for state stocks to support Rusal

By: Reuters     28th August 2018 Russia has a plan to support world No.2 aluminium producer Rusal against US sanctions put in place in April, including by purchasing the metal for state stocks, Industry Minister Denis Manturov told reporters on Tuesday. The US Treasury Department placed Russian businessman Oleg Deripaska and... 

Codelco makes new offer to striking Andina workers

By: Reuters     28th August 2018 Chile's State-owned Codelco, the world's largest copper producer, said on Monday it offered a new contract proposal to striking workers in hopes of ending a small strike at its Andina mine. The 83 unionised workers of the Plantas de Andina union went on strike a week ago after talks with the... 

Chilean copper miner Sierra Gorda receives environmental greenlight for expansion

By: Reuters     28th August 2018 The Chilean copper miner Sierra Gorda, which is controlled by Poland's KGHM, has received environmental approval for a $2-billion expansion and upgrade plan, the country's environmental authority told Reuters on Monday. The upgrades are expected to extend Sierra Gorda's lifespan by 21 years and... 

Equus soars as Chile backs Los Domos

By: Esmarie Swanepoel     27th August 2018 The share price of ASX-listed Equus Mining increased by nearly 17% on Monday, after the company announced that its Los Domos gold/silver/zinc/lead project had been identified as a key investment project by the Chilean Ministry of the Economy. The company told shareholders that Chilean government... 

Australian Mines pulls trigger on Flemington buy

By: Esmarie Swanepoel     27th August 2018 ASX-listed Australian Mines has exercised its option to acquire the Flemington cobalt/nickel/scandium project, in New South Wales, from fellow listed Jervois Mining. Jervois in late 2016 optioned the Flemington project to a wholly owned subsidiary of Australian Mines, for A$6-million in cash, of... 

Chinese miner to start copper output in Eritrea by next year

By: Bloomberg     24th August 2018 A unit of Sichuan Road & Bridge Co. will start producing copper, zinc, gold and silver at a mine in Eritrea by early next year, helping diversify the country’s agrarian economy, a mines ministry official said. The project will add to two operating mines in the Horn of Africa nation, which is... 

The head of Polish copper producer KGHM expects metal price to rise

By: Reuters     24th August 2018 The CEO of copper producer KGHM Polska Miedz, Marcin Chludzinski, said he expected copper prices to rise to levels seen in the first half of this year, as geopolitical situations are expected to calm down. "We assume stabilisation of the geopolitical situation, which means that the copper price... 

Superior Lake raises funds for Canada feasibility studies

By: Esmarie Swanepoel     24th August 2018 ASX-listed Superior Lake Resources has raised A$5-million through a share placement to institutional and sophisticated investors, to advance the feasibility study at its namesake project, in Canada. More than 142.8-million shares were placed at a price of 3.5c each under the company’s existing... 

Poseidon unveils A$75m capital raising

By: Esmarie Swanepoel     24th August 2018 ASX-listed Poseidon Nickel is hoping to raise about A$75-million through a fully underwritten entitlement offer to restart its Silver Swan and Black Swan mines, and bring the Black Swan processing plant back into production. Poseidon on Friday said that an initial placement will be made to... 

PGMs producer focuses on palladium in Limpopo

24th August 2018 Platinum and palladium mining company Platinum Group Metals is refocusing its business on the large-scale, bulk mineable Waterberg project in Limpopo, South Africa which is dominated by palladium and has reserves in platinum, rhodium, gold, copper and nickel. “Our key business objectives are to... 

PGMs producer  focuses on palladium  in Limpopo
Photo by Bloomberg
INCREASING IN VALUE The price of palladium has nearly doubled since 2015 as a result of its primary use in catalytic converters and limited market supply

SRK models sustainable solutions for brine from tailings

By: Nadine James     24th August 2018 SRK Consulting’s Cape Town office, in conjunction with SRK Consulting’s Vancouver office, has conducted preliminary groundwater modelling to assist a South American mining client in finding an environmentally sustainable solution for tailings-based brine management. SRK principal hydrogeologist... 

SRK models sustainable solutions for brine from tailings
GROUNDWATER MODELLING The groundwater modelling evaluated the likely pressure increases and brine plume migration associated with deep aquifer injection

Platinum producer optimistic about Limpopo project

By: Donald Makhafola     24th August 2018 Platinum producer Ivanplats, a subsidiary of Canadian mining company Ivanhoe Mines, is focusing on bringing its Tier 1 Platreef project, in Limpopo, into production in 2022, says Ivanplats VP and executive head of projects Gerick Mouton. The mine will produce platinum, palladium, rhodium, nickel,... 

Platinum producer optimistic about Limpopo project
PHASED PROGRESSION Ivanplats' primary objective is to reach steady-state production of four-million tons a year in Phase 1 of the Platreef project

X-ray technology enabling real-time analysis of gold ore samples Down Under

By: Esmarie Swanepoel     24th August 2018 Australian gold explorers have been given the world-first option to access x-ray technology to detect and analyse unseen gold, cutting turnaround times significantly. The photon assay technology was developed by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) over a... 

X-ray technology enabling real-time analysis of gold ore samples Down Under

South32 to consider South African energy coal ownership options in Sept

By: Marleny Arnoldi     23rd August 2018 Diversified miner South32 will start a process to broaden the ownership of its South Africa Energy Coal (SAEC) business, in September. “We have been very clear that we don’t plan to own an interest in energy coal in the long term, and it has never been a better time in terms of where South... 

Tethyan completes drilling at recently acquired Serbia

By: Creamer Media Reporter      23rd August 2018 Gold and base metals explorer Tethyan Resources has completed its first drill programme at the recently acquired Kizevak zinc/lead/silver project, in Serbia. The Kizevak project is situated on an exploration licence held by Tethyan’s Serbian subsidiary Taor and is located 1 km south-east along... 

Chinese firm launches $832m Zambia copper mine

By: Reuters     23rd August 2018 NFC Africa, majority owned by China Non-ferrous Metals Company Limited (CNMC), on Wednesday launched output at a new $832-million Zambian copper mine, extending the firm's lifespan by over 20 years. Zambia, Africa's second-largest producer of the metal, saw output rise 10.6% in the first half of... 

Zambia copper output up 10.6% in first half of 2018 – central bank

By: Reuters     22nd August 2018 Zambian copper output rose 10.6% to 402 222 t in the first half of the year, the central bank governor Denny Kalyalya said on Wednesday. Zambian copper mining industry has been increasing production of the metal thanks to stable power supply and relatively higher metal prices in recent months. 

Free gold on cards at Harmony’s Wafi-Golpu project 

By: Martin Creamer     22nd August 2018 South Africa’s Harmony Gold is now in the next significant special-mining-lease milestone on the journey towards the co-development of the rich Wafi-Golpu project in Papua New Guinea (PNG), 65 km south-west of the Port of Lae, PNG’s industrial hub and second largest city. Harmony owns 50% of this... 

Free gold on cards at Harmony’s Wafi-Golpu project
Mining Weekly Online Editor Martin Creamer interviewing Harmony Gold CEO Peter Steenkamp. Video & Video Editing: Darlene Creamer. Photograph: Creamer Media Chief Photographer Dylan Slater.

Lumina Gold spins out Luminex

By: Mariaan Webb     22nd August 2018 Shareholders in TSX-V-listed Lumina Gold have voted in favour of spinning out the company’s assets, other than the Cangrejos project, in Ecuador, into Luminex Resources, which will be listed on the same stock exchange. Luminex will hold all the concessions and properties previously held by... 

Ivanhoe says not aware of reason for share price decline

By: Mariaan Webb     21st August 2018 Canada-based Ivanhoe Mines, which has lost about 20% of its market share since the end of July, said on Tuesday that it was not aware of any company-specific reason for the recent decline in its share price. The Southern Africa-focused miner’s TSX shares have fallen from C$2.59 apiece on July... 

Panoro to expand drilling programme in Peru

By: Creamer Media Reporter      21st August 2018 The Peru Mines and Energy Ministry has approved a second modification of the semi-detailed environmental-impact assessment for the Cotabambas project, allowing TSX-V-listed Ponoro Minerals to extend its exploration drilling programme into highly prospective areas of Cluster 2. Cluster 2 has been... 

Global copper mine production up 5.7% in first five months of 2018 – ICSG

By: Marleny Arnoldi     21st August 2018 The International Copper Study Group (ICSG) says global mine production of copper in the first five months of this year increased by 5.7% year-on-year to about 450 000 t, while concentrate production increased by 5.5% year-on-year and solvent extraction and electrowinning (SX-EW) increased by 6%... 

Three companies from Canada, China, Russia bid for Serbian copper mine

By: Reuters     21st August 2018 Three companies have placed bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, the Economy Ministry said. In July, Serbia's government said it was seeking a partner to invest at least $350-million in debt-laden RTB Bor, but did not say how big a stake it would... 

Osisko announces management changes

By: Creamer Media Reporter      21st August 2018 TSX-V-listed Osisko Metals has appointed geologist Robert Wares, currently the chairperson of the board, as executive chairperson. Wares has more than 35 years’ experience in mineral exploration and development, and was one of the three original founders of Osisko Exploration/Osisko Mining. 

Symbol shares stumble on shareholder fears

By: Esmarie Swanepoel     21st August 2018 The share price of ASX-listed Symbol Mining fell by 8% on Tuesday despite the company’s attempts to allay shareholder fears over the volatility of the zinc price. Symbol on Tuesday told shareholders that while the current zinc price was below the $2 800/t ‘low case’ scenario considered in the... 

Harmony enters 1.5m oz gold production realm

By: Martin Creamer     21st August 2018 The growth aspiration of Harmony Gold to produce at a rate of 1.5-million ounces of gold a year is within a hair’s breadth of becoming a foregone conclusion as production at Hidden Valley in Papua New Guinea and Moab Khotsong in South Africa click in optimally during the current financial year.... 

Harmony enters 1.5m oz gold production realm
Photo by Creamer Media
Harmony Gold CEO Peter Steenkamp

Tyranna acquires US base metals project

By: Esmarie Swanepoel     21st August 2018 ASX-listed Tyranna Resources has inked an agreement to acquire privately held US Cobalt, in order acquire the Goodsprings cobalt and base metals project, in the US. Tyranna in March entered into an option agreement to acquire US Cobalt as part of its diversification strategy aimed at... 

BHP’s underlying profit jumps 33%, pays record dividend

By: Esmarie Swanepoel     21st August 2018 Diversified miner BHP has reported a 33% increase in underlying attributable profit for the financial year ended June, as well as a 10% increasing in operating cash flows. Underlying attributable profit, which excludes one-time gains and losses, was reported at $8.9-billion for the 2018... 

BHP’s underlying profit jumps 33%, pays record dividend
BHP CEO Andrew Mackenzie

First Quantum reports fatality at Cobre Panama

By: Creamer Media Reporter      20th August 2018 TSX-listed miner First Quantum said on Monday that a worker at its Cobre Panama project had passed away and that a second worker was injured while constructing an electrical transmission line in the tailings management facility. The second worker has been transferred to hospital. 

Oposura scoping study nears completion

By: Creamer Media Reporter      20th August 2018 ASX-listed Azure Minerals is nearing completion of a scoping study for its Oposura zinc/lead/silver project, in Mexico. The study remains on schedule for completion in the third quarter of this year. 

Black Mountain warns Poseidon about ‘highly dilutive’ capital raising

By: Mariaan Webb     20th August 2018 US group Black Mountain Metals on Monday warned Poseidon Nickel that it would terminate its takeover proposal if the company pursued a “highly dilutive” capital raising. This is in response to Poseidon’s request that the ASX halted trading in its shares to “discuss and announce a material fund... 

Workers at Chile's Escondida, world's top copper mine, ink contract

By: Reuters     18th August 2018 The union representing workers of Chilean copper mine Escondida signed a new collective labor contract on Friday, ending the risk of a strike that could have paralyzed the world's biggest copper mine. Mine operator BHP had said earlier in the week that terms had been reached but the union needed... 

Union for Chilean mine Caserones accepts revised contract, averting strike

By: Reuters     17th August 2018 The main union for Chilean mine Caserones has accepted a revised contractual offer from the copper company, which averted the threat of a strike, according to an internal memo sent to workers early on Friday. An agreement between the union and the mining company, controlled by JX Holding and... 

Poland's KGHM optimistic of meeting 2018 output plan

By: Reuters     17th August 2018 Poland's KGHM, one of the world's biggest copper and silver producers, will achieve its 2018 copper production plan despite a fall in output in the first half of the year, the company's chief executive said on Friday. "Looking at the results planned for 2018 we are optimistic and we assume that... 

Rusal says board backs change of domicile to Russia

By: Reuters     17th August 2018 Russia's sanctions-hit aluminium giant Rusal said on Friday its board had discussed and approved a change of domicile from Britain's Jersey to Russia in order to take advantage of new special tax regulations. Rusal, which was hit with US sanctions in April that seriously disrupted aluminium... 

Sweden's Granges halts plans for US aluminium joint venture

By: Reuters     17th August 2018 Sweden's Granges put on ice on Friday plans to form an aluminium manufacturing joint venture in the United States with Japan's Mitsubishi Aluminum Co, saying that the project was less attractive in "current circumstances". It did not specify what circumstances it was referring to though a Granges... 

Sweden's Granges halts plans for US aluminium joint venture

Commodity price increases lack conviction – IHS

By: Nadine James     17th August 2018 Commodity analysts IHS Markit on Thursday reported that the Materials Price Index (MPI) had risen by 0.5% in the last week, but that the index’s ten subcomponents were evenly split between those showing increases and those showing declines, highlighting the uncertainty in markets. The MPI... 

Poseidon gets conditional proposal

By: Esmarie Swanepoel     17th August 2018 ASX-listed Poseidon Nickel has received a conditional proposal from Perth-based Black Mountain Metals. Poseidon told shareholders on Friday that while no formal bid price per share has been offered or agreed upon, Black Mountain has made an informal proposal of 6c a share 

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