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Base Metals News

Goldman backs commodities as trade war fury now met with shrugs

By: Bloomberg     21st September 2018 Commodity bull Goldman Sachs Group says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in top economies remains strong, and consumers who’d put off purchases in recent months start buying again. Copper jumped. “This week... 

Versatile spin filters extend machinery, equipment life

By: Nadine James     21st September 2018 A compressor exposed to abrasive dust, such as those used in mining environments, could become increasingly inefficient and fail internal damage caused by clogged and compromised intake filters, notes RTS Africa Engineering MD Ian Fraser. Additionally, opencast mine dust frequently enters... 

Versatile spin filters extend machinery, equipment life
IAN FRASER Mining companies use spin filtration for effective dust extraction from compressors' air intake filters and for direct ventilation of variable speed drives

New products can improve safety, productivity

By: Nadine James     21st September 2018 Bidvest Commercial Products division Kelmeg Lifting Services (KLS) has expanded its service offering – aimed at improving safety and productivity, particularly with regard to working at height, and the associated lifting, rigging or lashing requirements. The new safety-focused products can assist... 

New products can improve safety, productivity
Photo by Creamer Media
RODNEY YOUNG Innovation is a pivotal focal point and Kelmeg invests considerably into research and development, every year

Manufacturer ready to commission plant

By: Donald Makhafola     21st September 2018 Fuel cell components manufacturer Isondo Precious Metals (IPM) hopes to commission its platinum-containing membrane electrode assembly (MEA) manufacturing plant in the upcoming months, pending the finalisation of the balance of funding. The state-of-the-art MEA manufacturing technology plant from... 

Manufacturer ready to commission plant
Photo by Creamer Media
VINAY SOMERA Our intention is to prove the business case that South Africa can produce the best-quality components for the fuel cell using platinum-group metals

Consolidated Zinc ships first ore from Plomosas

By: Creamer Media Reporter      20th September 2018 The first shipment of ore has left the Plomosas zinc/lead/silver project for processing at Grupo Mexico’s Santa Eulalia plant, ASX-listed Consolidated Zinc reported on Thursday. The company said it would deliver about 100 t/d to the concentrator for the rest of the month, where after it would... 

Axiom fully permitted for Isabel nickel project

By: Mariaan Webb     20th September 2018 Solomon Islands has formally granted Axiom Mining a lease over the San Jorge nickel deposit, paving the way for the ASX-listed company to start construction of the Isabel mine – one of the last known undeveloped world-class nickel laterite deposits. The news sent Axiom’s stock surging 44% to... 

Doray ‘firmly on path’ to 100 000 oz/y goal

By: Mariaan Webb     20th September 2018 The upgrade of Doray Minerals’ resource for the high-grade Da Vinci gold discovery in the Deflector gold/copper mine has set the company “firmly on the path” to reaching its ‘target 1-5-1’ strategic goal of producing 100 000 oz/y of gold, over a minimum of five years and at an all-in sustaining... 

With copper options, China steps up challenge to London, New York rivals

By: Reuters     20th September 2018 The Shanghai Futures Exchange (ShFE) will launch copper options trading on Friday, aiming to take a slice of a $270 billion global market in one of its biggest challenges yet to London and New York rivals. The product, which follows the launch of sugar and soymeal options last year, comes as... 

Anglo Asian declares first dividend, reports strong H1 results

By: Simone Liedtke     19th September 2018 Aim-listed Anglo Asian has declared a maiden interim dividend, following the company’s move into a net cash position subsequent to June 30. The gold and copper miner, which operates in Azerbaijan, would pay a 3c a share dividend, it said on Wednesday, releasing a strong set of half-year results. 

CITIC completes $556m equity deal with Ivanhoe

By: Marleny Arnoldi     19th September 2018 CITIC Metal Africa Investments, which is a subsidiary of CITIC Metal, has completed a major strategic equity investment of C$723-million, or $556-million, in TSX-listed Ivanhoe Mines. The investment was initiated by CITIC Metal in June.  

OceanaGold reports no operational impact from recent storms

By: Mariaan Webb     19th September 2018 Multinational OceanaGold’s Didipio operation, in the Philippines and the Haile mine, in the US, have managed to pull through the past weekend’s severe storms in the respective regions without reporting any injuries or a significant impact to production. In the Philippines, where super typhoon... 

Trevali refinances credit facility

By: Creamer Media Reporter      19th September 2018 Zinc miner Trevali has refinanced its credit facility and managed to secure an improved pricing, which should save the miner up to $5-million over a four-year term, it announced on Wednesday. Trevali entered into an amended and restated credit agreement with a syndicate of lenders for a... 

Central Asia Metals hunts for acquisitions

By: Reuters     19th September 2018 Base metals producer Central Asia Metals (CAML) on Wednesday reported a more than doubling in first-half revenue and profits following the acquisition of a mine in Macedonia and said it was actively looking for new opportunities to expand. Aim-listed CAML bought the Sasa zinc and lead mine in... 

Central Asia Metals hunts for acquisitions
The Sasa mine in Macedonia.

Activities restart at New Century’s port facility

By: Creamer Media Reporter      19th September 2018 Queensland miner New Century Resources has started stockpiling zinc concentrate in its 80 000 t storage shed at the Karumba port, paving the way for exports to start and first revenue to be received this month. “The successful refurbishment and restart of activities at New Century’s port... 

Metminco buys Solomon Islands nickel project, to delist from Aim

By: Mariaan Webb     19th September 2018 Share trading in Metminco resumed on the ASX on Wednesday as the miner announced the acquisition of the Jejevo nickel project, in the Solomon Islands, giving it exposure to the nickel market at a time of rising demand from the battery market. Metminco will buy Sunshine Metals in a scrip... 

Metminco buys Solomon Islands nickel project, to delist from Aim

Struggling Aldridge agrees to be bought by Virtus Mining

By: Mariaan Webb     19th September 2018 Troubled Turkey-focused junior Aldridge Minerals has agreed to be bought by Virtus Mining – a development-stage mining company in which Aldridge director Ahmet Taçyildiz will indirectly hold 70%. Virtus will acquire all the issued and outstanding common shares of Aldridge for C$0.10 in cash,... 

Eldorado claims €750m from Greek State over permit delays

By: Marleny Arnoldi     18th September 2018 Gold and base metals producer Eldorado Gold’s Greek subsidiary Hellas Gold has filed an application for payment with the Hellenic Republic, requesting about €750-million for damages suffered by the company, arising from delays in the issuance of permits for the Skouries project, in northern... 

Eldorado claims €750m from Greek State over permit delays

UK tax authority confirms Erris Resources EIS status

By: Marleny Arnoldi     18th September 2018 Aim-listed Erris Resources’ enterprise investment scheme (EIS) status has been confirmed by the UK tax authority. The EIS is a series of UK tax reliefs launched in 1994 in succession to the business expansion scheme. It is designed to encourage investments in small unquoted companies carrying on... 

Orion nears drilling completion at Prieska project

By: Marleny Arnoldi     18th September 2018 ASX- and JSE-listed Orion Minerals’ Prieska project drill-out programme is nearing completion, with continued high-grade results being returned at the deep sulphide target. The company has drilled more than 83 000 m since May 2017, across 94 intersections, including 15 intersections drilled for... 

MMG slashes Las Bambas copper forecast

By: Mariaan Webb     18th September 2018 Hong Kong- and Australia-listed MMG has lowered its 2018 copper concentrate production guidance for the Las Bambas mine, in Peru, to between 375 000 t and 395 000 t, from an earlier guidance of 410 000 t to 430 000 t. The lower production forecast is as a result of wall instability restricting... 

Top miner sees US-China trade tensions limiting global growth

By: Bloomberg     18th September 2018 Rising US-China trade tensions threaten to curb consumer purchasing power, crimp productivity growth and limit global economic expansion, according to the world’s biggest mining company. The confrontation between the world’s top two economies, “along with an increasingly unpredictable policy... 

Top miner sees US-China trade tensions limiting global growth

Imperial exploring ‘strategic alternatives’ as it restructures

By: Mariaan Webb     18th September 2018 Troubled Vancouver-based Imperial Metals Corporation has embarked on a restructuring process, which will entail exploring “all strategic alternatives” for the company, the owner of the Red Chris, Mount Polley and Huckleberry copper and gold mines in British Columbia announced on Monday.... 

Imperial exploring ‘strategic alternatives’ as it restructures
Mount Polley Hazeltine Creek

W boosts board with Madrid-based directors

By: Creamer Media Reporter      17th September 2018 Tungsten, copper and gold mining company W Resources has appointed two Madrid-based directors, Pablo Neira and James Argalas, as nonexecutive directors. Neira brings over 30 years of international experience specialising in managing listed industrial manufacturing companies and family office... 

Russian giant copper project aims to raise $1.25bn in 2018

By: Reuters     17th September 2018 Baikal Mining Company, operator of Russia's biggest untapped copper deposit Udokan, plans to raise $1.25-billion in project financing from a Russian bank by the start of 2019, its chairperson Valery Kazikayev told Reuters. Spurred by high global appetite for cooper, which many expect to be in... 

New Voisey’s Bay royalty calculation agreed on

By: Marleny Arnoldi     17th September 2018 TSX-listed Altius Minerals and Nasdaq-listed Royal Gold have entered into an agreement with Vale Canada to settle litigation related to the calculation of the royalty in respect of all concentrates produced from the Voisey’s Bay mine, in Newfoundland and Labrador. The Voisey’s Bay 3% net... 

Metminco plans acquisition and funding announcement

By: Creamer Media Reporter      17th September 2018 Australia-headquartered Metminco requested a voluntary suspension from the ASX on Monday, pending an announcement about a proposed capital raising and acquisition. The company, which requested a trading halt last week, said that an announcement would be made on Tuesday. 

Nexa says to invest $1.17bn in Peru, Brazil in five years

By: Reuters     17th September 2018 Brazilian mining company Nexa Resources plans to invest some $1.17-billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday. About $816-million will be invested in Peru, including $555-million in copper projects... 

How Anglo quietly built a commodity trader in Glencore's shadow

By: Bloomberg     17th September 2018 Anglo American has quietly become a commodities trader. In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking... 

How Anglo quietly built a commodity trader in Glencore's shadow

Centerra secures short-term water sources for Mt Milligan

By: Mariaan Webb     14th September 2018 British Columbia regulators have granted TSX-listed Centerra Gold approval to pump additional water – although limited volumes – for its Mount Milligan mine. The approvals, which were received earlier than anticipated, allow Centerra to pump from groundwater wells within Mount Milligan’s... 

Centerra secures short-term water sources for Mt Milligan
Mt Milligan mine

Chilean lawmakers study extra tax for copper, lithium mines

By: Reuters     14th September 2018 Chile's congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters. The initiative, which was put forward by opposition legislators... 

Hydro withdraws bid for Rio Tinto Iceland plant

By: Mariaan Webb     14th September 2018 Norwegian aluminium company Hydro has dropped its offer to buy Rio Tinto’s ISAL aluminium plant, in Iceland. The $345-million offer, announced in February and initially expected to close in the second quarter, also entailed a 53.3% share in Rio Tinto’s Aluchemie anode plant, in the Netherlands,... 

Congo Mines Minister sees strategic-metals decision 'very soon'

By: Bloomberg     14th September 2018 The Democratic Republic of Congo’s government will soon announce which minerals are to be designated “strategic” and subject to a 10% royalty rate, the mines minister said. Congo’s updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in... 

Cradle Arc renews prospecting licences near flagship Mowana copper mine

By: Schalk Burger     14th September 2018 Africa-focused base and precious metals exploration and production company Cradle Arc on Friday announced that it had renewed prospecting licences to the north of its flagship Mowana copper mine, in Botswana, along the same Bushman Lineament that hosts the current resource estimate for Mowana.... 

Apollo now owns 100% of Couflens

By: Creamer Media Reporter      14th September 2018 ASX-listed Apollo Minerals said on Friday that it had completed the acquisition of the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France, increasing its ownership to 100%. The company initially bought an 80% interest in 2017, and... 

Anglo American asks Angola for permission to explore for metals

By: Reuters     14th September 2018 Anglo American, one of the world's largest commodities miners, has asked Angola for permission to explore for base metals, the country's Ministry for Mines said on Friday. Anglo, which operates diamond, copper, platinum mines around the world, submitted a letter of intent to invest in the... 

Nickel producers eye Indonesia to plug into EV battery market

By: Reuters     14th September 2018 Several global metals producers have set their sights on Indonesia's nickel reserves to tap an expected surge in demand for the metal for electric vehicle batteries. Sumitomo Metal Mining (SMM) said on Thursday that it and nickel miner PT Vale Indonesia are conducting a feasibility study to... 

Myanmar unveils Bawdwin ‘starter pit’ scoping study

By: Mariaan Webb     14th September 2018 ASX-listed junior Myanmar Metals has unveiled the results of a scoping study for the Bawdwin polymetallic mine, in Myanmar, demonstrating the viability of developing a 13-year “starter pit” that will fund the life-of-mine infrastructure. Based on the indicated and inferred resources from the... 

New Century brings new life to former Queensland mine

By: Mariaan Webb     14th September 2018 Praise is pouring in for New Century Resources’ zinc tailings project at a former mine site north-west of Mount Isa, Queensland, with Mines Minister Anthony Lynham declaring it an “exciting new approach” and Queensland Resources Council CEO Ian Macfarlane labelling the project “ingenious”. The... 

New Century brings new life to former Queensland mine
The New Century zinc mine.

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