R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.31 $/oz Change: -12.55
Pt 794.99 $/oz Change: -8.87

Base Metals News

Nickel price to weaken during 2019, but strengthen again thereafter

By: Rebecca Campbell     30th November 2018 Analysis and consultancy company Fitch Solutions Macro Research (part of the Fitch Group but separate and distinct from sister company Fitch Ratings) has reduced its forecast nickel price for 2019, while remaining confident that it will thereafter trend upwards again. Its previous nickel price... 

Fortescue taps new tech to step up copper hunt across Australia

By: Reuters     30th November 2018 Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike. The world's fourth-largest iron ore miner raised its... 

Artemis raises A$5.4m

By: Esmarie Iannucci     30th November 2018 ASX-listed junior Artemis Resources has secured some A$5.4-million in funding from a UK-based institutional investor to fund exploration in the Patersons Range, in Western Australia. “This new funding allows Artemis to start exploration at Armada and finalise the next resource upgrade and... 

Todd River raises A$4.9m for Mt Hardy exploration

By: Esmarie Iannucci     30th November 2018 Base metals explorer Todd River Resources has completed a A$4.9-million capital raise to fund exploration work at its Mt Hardy zinc/copper project, in the Northern Territory. The ASX-listed company said on Friday that some 57.05-million shares would now be issued, of which fellow-listed S2... 

Chile's Codelco copper output, profit falls as costs rise

By: Reuters     30th November 2018 Chile's Codelco, the world's largest copper producer, said on Thursday that mine output fell 3% in the first nine months of the year as ore grades sharply declined, leading to a 12% drop in pretax profit. The state-run copper miner earned $1.42-billion pretax between January and September as... 

Canadian govt introduces measures to boost mining

By: Nadine James     30th November 2018 Measures included in the 2018 Fall Economic Statement (FES) will provide an “important boost for Canadian mining competitiveness”, industry organisation Mining Association of Canada (MAC) noted in a statement released last week. The mining industry is a major sector of Canada's economy,... 

Canadian govt introduces measures to boost mining
Photo by Reuters
BILL MORNEAU The Canadian finance minster proposed several measures to enhance the investment competitiveness of Canada's mining and metal manufacturing sectors

Congo State miner blames foreign investors for underdevelopment

By: Bloomberg     29th November 2018 The Democratic Republic of Congo's State mining company blamed international investors and anti-corruption activists for the country’s lack of progress despite its vast mineral wealth. Nongovernmental organisations including the Atlanta-based Carter Center and London-based Global Witness have... 

Norsk Hydro sees weaker aluminium demand growth in 2019

By: Reuters     29th November 2018 Norwegian metals maker Norsk Hydro expects global primary aluminium demand to grow by 2% to 3% in 2019, down from the 4% seen for 2018, it said on Thursday. Trade sanctions and tariffs are impacting global flows of aluminium and increasing uncertainty on economic growth. 

Group Eleven announces resource estimate for Ireland zinc project

By: Creamer Media Reporter      29th November 2018 Canadian junior Group Eleven has announced a new mineral resource estimate for its 60%-owned Ballinalack zinc project, in Ireland. The Ballinalack project contains estimated inferred mineral resources of 5.4-million tonnes grading 8.7% zinc and lead combined (7.6% zinc and 1.1% lead) and 9.0 g/t... 

Lundin refines three-year production outlook

By: Mariaan Webb     29th November 2018 Canadian base metals miner Lundin Mining has updated its guidance for 2019 to 2010, announcing an increase to its three-year production outlook for copper, owing to a refinement to the guidance of Candelaria, in Chile, and an expected early completion of Eagle East, in the US. The group’s 2019... 

Lundin refines three-year production outlook
The Neves-Corvo mine, in Portugal.

ARM shares start trading on A2X

By: Creamer Media Reporter      29th November 2018 Diversified miner African Rainbow Minerals' (ARM's) shares started trading on the A2X on Thursday.   ARM, which will retain its primary listing on the JSE, is the first mining company to list on the A2X.   A2X CEO, Kevin Brady says, “We are pleased to welcome African Rainbow Minerals onto our... 

Troilus buys more land north-east of past-producing mine

By: Creamer Media Reporter      29th November 2018 Quebec-focused exploration and early-development company Troilus has significantly expanded its land position through the acquisition of the Troilus North project, located north-east of the Val-d’Or mining district. The Toronto-based company is focused on restarting the former Troilus mine,... 

Fed's Powell shakes gold out of its doldrums, energises copper

By: Bloomberg     29th November 2018 Dovish comments from the Federal Reserve’s Jerome Powell suggesting slower-than-anticipated interest-rate hikes awakened gold from its recent slumbers and boosted most base metals. The Fed chairman said interest rates are “just below” the so-called neutral range, softening previous comments... 

Chile's Spence copper mine back in operation after strike

By: Reuters     29th November 2018 BHP´s Spence copper mine was operating normally again following a union strike announced earlier on Wednesday, the company said. Union President Ronald Salcedo told Reuters early on Wednesday that about 50 workers had been laid off, in addition to eight supervisors, raising safety concerns for... 

Workers at BHP's Spence copper mine in Chile strike - union president

By: Reuters     28th November 2018 The workers union at BHP's Spence copper mine in Chile started a strike after layoffs earlier this week, the union leader said on Wednesday, shutting down operations at the northern Chilean deposit. Union President Ronald Salcedo told Reuters that about 50 workers had been laid off, in addition... 

Orion finds new copper/zinc massive sulphide body near Prieska project

By: Creamer Media Reporter      28th November 2018 ASX- and JSE-listed Orion Minerals has discovered a new copper/zinc-bearing massive sulphide body located near its flagship Prieska zinc/copper project, in the Areachap Belt, in the Northern Cape.   The discovery hole, OAXD002, was drilled at the Ayoba prospect, a satellite exploration target,... 

Nigeria awards mining exploration contract to ten mining, consulting firms

By: Reuters     28th November 2018 Nigeria has awarded a mining contract to ten exploration and consulting companies as part of the country's efforts to develop the sector, the mining and steel development minister said on Tuesday. Abubakar Bawa Bwari did not say how much the contracts were worth but in July he had said eight... 

Potanin to appeal UK court decision in battle of billionaires

By: Reuters     28th November 2018 Russian businessman Vladimir Potanin plans to appeal a London court decision to block him from buying shares in mining company Norilsk Nickel from fellow investor Roman Abramovich, representatives at Potanin's investment firm said on Tuesday. The ruling, taken in June, was considered to be... 

Anglo American increases Chile copper guidance, sets sights on 1Mt/y

By: Mariaan Webb     27th November 2018 Global mining group Anglo American has refined its copper production forecast for its mines in Chile, affirming a 660 000 t/y forecast for 2018 and announcing new targets for the following three years. The company raised the bottom range of its 2019 guidance to 630 000 t, from 600 000 t, while... 

Anglo American increases Chile copper guidance, sets sights on 1Mt/y
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Eurasian Resources Group secures electricity supply for DRC copper mine

By: Creamer Media Reporter      27th November 2018 Diversified natural resources group Eurasian Resources Group (ERG) has concluded an agreement with electricity company Société Nationale d’Électricité (SNEL) for the supply of 41 MW of electricity for its Frontier mine, in the Democratic Republic of the Congo (DRC). SNEL will source the... 

BHP flags new copper discovery near Olympic Dam

By: Esmarie Iannucci     27th November 2018 Mining major BHP has reported a potential new iron-oxide/copper/gold (IOCG) mineralised system near its Olympic Dam operation, in South Australia. The miner on Tuesday said that four diamond drill holes, totaling 5 346 m, had intersected copper, gold, uranium and silver mineralisation, with... 

Kibo concludes sale of Kibo Nickel

By: Creamer Media Reporter      27th November 2018 Aim- and AltX-listed Kibo Energy's Kibo Mining subsidiary has concluded the sale of Kibo Nickel to Katoro Gold. Kibo Energy announced in June that it would sell Kibo Nickel to Katoro for 15.39-million shares valued at about £200 000 as part of its strategy to focus on its energy projects. 

Peru stops miners from exploring Rainbow Mountain tourist area

By: Bloomberg     26th November 2018 Clashes between tourism and mining are not rare in Peru, a country peppered with historic and touristic sites that’s also the world’s second-largest producer of copper, zinc and silver. But in the case of Rainbow Mountain, those in favor of conservation appear to have won out. Late Friday, the... 

Capstone explores alternatives for Chile project, including selling stake

By: Mariaan Webb     26th November 2018 Canadian base metals miner Capstone Mining is aiming to cash in on the shortage of high-quality, large-scale copper projects by selling a portion of its Santo Domingo iron oxide-copper/gold project, in Chile. The Vancouver-based company on Monday announced the start of a strategic process to... 

Capstone explores alternatives for Chile project, including selling stake

Saudi Arabia targets $64bn in mining revenue by 2030

By: Reuters     26th November 2018 Saudi Arabia aims to raise the kingdom's mining revenues to $64-billion from $17-billion by 2030, Energy Minister Khalid al-Falih said on Monday. Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from... 

Anglesey Mining shares soar on optimisation announcement

By: Mariaan Webb     26th November 2018 Shares in the developer of the Parys Mountain base and precious metals project soared on Monday, as the company announced that a division of Irish firm QME would carry out design, engineering and optimisation studies for the future development of the project on the island of Anglesey, in north... 

Anglesey Mining shares soar on optimisation announcement
The Parys Mountain project, in north Wales.

MOD starts trading on LSE

By: Esmarie Iannucci     26th November 2018 Copper developer MOD Resources has started share trading on the London Stock Exchange (LSE). The company on Monday said that more than 248.5-million ordinary shares would be admitted to the official list, under the ticker MOD. 

Thor looks at copper options for Molyhil

By: Esmarie Iannucci     26th November 2018 ASX- and Aim-listed junior Thor Mining has announced an initial inferred mineral resource of 230 000 t grading 2% copper for 4 600 t of copper at its Bonya copper mine, in the Northern Territory. The Bonya deposit lies within the Bonya tenement, which is jointly held with ASX-listed Arafura... 

Former Grupo Mexico workers plan to block copper mine access

By: Reuters     26th November 2018 Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on December 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts. The planned industrial action is part of a longstanding... 

Mexico miners extend drop on policy angst; Southern Copper sags

By: Bloomberg     24th November 2018 Mining companies operating in Mexico extended a sell-off, with Southern Copper falling the most since 2011, even as a Mexican lawmaker attempted to calm market worries over the prospect of tougher regulation under incoming President Andres Manuel Lopez Obrador. Large Mexico-based mining... 

Mexico miners extend drop on policy angst; Southern Copper sags
Andres Manuel Lopez Obrador

Zinc smelter bottlenecks propping up prices, for now

By: Reuters     23rd November 2018 An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia, putting the brakes on an eye-watering price fall. Benchmark zinc tumbled over 35% in the seven months to mid-September, with prices of the metal used mainly to... 

Congo's 9-mth copper output up 8.7%, cobalt nearly doubles

By: Reuters     23rd November 2018 Copper output in Democratic Republic of Congo rose 8.7% year on year through the first nine months of 2018 to 908 695 tonnes while cobalt production jumped 92.5% to 115 116 tonnes, the central bank said on Thursday. Congo is Africa's top copper producer and the world's leading miner of cobalt,... 

BASF makes low-nickel wager amid scramble for battery metals

By: Reuters     23rd November 2018 German chemicals giant BASF is betting on a new recipe for electric car batteries which stretches the time between charges while cutting dependence on nickel to help shave costs and grab more of a growing market. It is part of flurry of activity in the sphere of cathodes materials, a major... 

South African infrastructure better suited to transporting precious metals than base metals 

By: Nadine James     23rd November 2018 South Africa’s (SA’s) transport infrastructure was built for and remains suited to the movement of precious metals and diamonds, Herbert Smith Freehills (HSF) consultant Biddy Faber told attendees of the roundtable on Exploring comparisons between SA and Brazilian mining and infrastructure... 

SolGold CEO excited by prospects for Ecuadorian copper/gold

By: Reuters     23rd November 2018 SolGold's coveted Ecuadorian copper-gold prospect may be 20 percent bigger than the mining group said earlier this week, its chief executive Nick Mather said on Thursday. SolGold, in which Mather has a near 5% stake, said on Tuesday that its Alpala project in Ecuador's Cascabel region was... 

SolGold CEO excited by prospects for Ecuadorian copper/gold
Solgold CEO Nick Mather

Atalaya posts higher profit as sales tick up

By: Creamer Media Reporter      22nd November 2018 European copper miner Atalaya Mining increased its third-quarter revenue to €42.8-million, from €35.7-million in the same quarter of 2017, as its sales volumes increased and prices improved. The miner, which operates the Riotinto mine in Spain maintains listings on the Aim and TSX exchanges,... 

Initial indications from T23 Dome drilling show promise for copper – Metal Tiger

By: Marleny Arnoldi     22nd November 2018 Aim-listed Metal Tiger on Thursday said diamond drilling in the first two widely spaced holes at the T23 Dome, in Botswana, has intersected visible copper mineralisation at shallow depth, which may be of significant potential. The T23 Dome is the first drilling target on the T20 exploration... 

Alufer successfully delivers first bauxite shipment to China

By: Simone Liedtke     22nd November 2018 Independent mineral exploration and development company Alufer Mining has delivered its first Capesize shipment of bauxite, which totals 203 009 metric tonnes, to the Port of Qingdao, in China. From the port, it will be delivered to China’s largest alumina and primary aluminium producer, Chalco... 

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