R/€ = 16.71 Change: 0.04
R/$ = 14.58 Change: 0.06
Au 1189.29 $/oz Change: 12.39
Pt 794.50 $/oz Change: 13.67

Base Metals News

Ground water in Vedanta's Indian smelter contains heavy metals – Minister

By: Reuters     23rd July 2018 Ground water in Vedanta Resources' south Indian copper smelter contains heavy metals exceeding limits for drinking water, India's junior Minister for Water Resources, Arjun Ram Meghwal, told lawmakers on Monday. The smelter was shut down in May under order of the Tamil Nadu state government... 

RNC selects preferred bidder for WA mine

By: Creamer Media Reporter      23rd July 2018 Canadian miner RNC has completed the second phase of the sales process of its Beta Hunt gold and nickel mine, in Western Australia, with the selection of a preferred bidder. RNC has granted exclusivity to the bidder, which was not named, to allow for completion of the final phase of the sale... 

Weatherly progresses with Tschudi dewatering plan

By: Marleny Arnoldi     23rd July 2018 Aim-listed copper miner Weatherly International expects production levels at its Tschudi copper mine, in Namibia, to normalise by December, following a massive water ingress on May 11. Weatherly has since progressed with a recovery plan that entails dewatering the mine.  

Western Areas hits full year targets

By: Esmarie Swanepoel     23rd July 2018 Nickel miner Western Areas has delivered a solid fourth quarter during the three months to June, with the miner hitting its production targets in the full-year. Western Areas produced 6 381 t of nickel during the June quarter, up from the 6 236 t produced in the previous quarter, with full year... 

Poseidon gets new CEO

By: Esmarie Swanepoel     23rd July 2018 ASX-listed Poseidon Nickel has appointed Robert Dennis as MD and CEO, effective from August 1. Dennis is currently a non-executive director of the company, and was formerly the COO before taking up a role as COO of Independence Group in 2014. 

Trade war could knock 3% off global GDP – Bank of France study

By: Reuters     20th July 2018 An international trade war with wide-ranging tariff hikes could cut global gross domestic product by as much as three percent, according to a study by the French central bank on Thursday. The direct impact of a generalised 10 percentage point increase in import tariffs could alone knock 1% off... 

AngloGold chairperson warns South Africa on 'reckless' mining rules

By: Bloomberg     20th July 2018 South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among... 

AngloGold chairperson warns South Africa on 'reckless' mining rules
Photo by Creamer Media
AngloGold chairperson Sipho Pityana

Lawyer not ‘distressed’ by possibility of Mining Charter being finalised in October

By: Nadine James     20th July 2018 The successful two-day Mining Summit – proposed by Minerals Resources Minister Gwede Mantashe previously – provided a platform for stakeholders to voice their concerns during, substantive discussions on nearly all aspects of the revised Mining Charter, says Hogan Lovells partner and mining head... 

Lawyer not ‘distressed’ by possibility of Mining Charter  being finalised in October
Photo by Creamer Media
WARREN BEECH The summit, and what has resulted from it, has resulted in a different, more positive, scenario

Construction project boosts services demand

By: Melissa Zisengwe     20th July 2018 Multidisciplinary engineering service provider TDS Projects Construction has secured an integrated construction project, which has significantly boosted the company’s order book and the demand for construction services in the local mining sector. In June, TDS was awarded two distinct, but... 

Construction project boosts services demand
PROJECT OFFTAKE The Matla project is expected to start in September this year

Commodity contagion spreads as raw material crash threatens calm

By: Bloomberg     19th July 2018 Don’t be fooled by the relative calm across financial markets: The inputs in the global supply chain are flashing warning signs. Commodities have tumbled into correction territory Thursday, sliding again in the face of the resurgent dollar and lingering global trade tensions. Among the recent... 

Oyu Tolgoi in deals with Chinese contractors for power station

By: Mariaan Webb     19th July 2018 Mongolia copper and gold miner Oyu Tolgoi, which is controlled by Rio Tinto, has entered into agreements with three Chinese contractors to submit bids for the engineering, design and construction of a power station at the mine site. The company has refreshed previous plans to develop its own... 

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

EU mulls coal, pharma, chemicals tariffs if US hits cars – Wiwo

By: Reuters     19th July 2018 The European Union (EU) will consider introducing tariffs on coal, pharmaceuticals and chemical products from the United States if President Donald Trump imposes restrictions on European cars, Germany's Wirtschaftswoche magazine reported on Thursday. "Depending on progress made during the visit... 

Anglo reports production growth across all commodities in Q2

By: Marleny Arnoldi     19th July 2018 Global diversified miner Anglo American reported a 6% year-on-year increase in total production on a copper equivalent basis for the second quarter. Anglo CE Mark Cutifani remarked in a statement on Thursday that higher copper and metallurgical coal production reflected the company’s consistent... 

Anglo reports production growth across all commodities in Q2
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Oz reports a solid June quarter

By: Esmarie Swanepoel     19th July 2018 Copper miner Oz Minerals has reported another solid quarter during the three months to June in its bid to reach full-year production of between 100 000 t and 110 000 t of copper. During the second quarter, Oz produced 27 131 t of copper, which was in line with the 27 466 t produced in the first... 

URU continues with exploration at Limpopo project

By: Anine Kilian     18th July 2018 The successful completion of a two-stage six-hole drill programme completed in 2017 on URU Metals’ Limpopo-based Zebediela nickel/platinum group element (PGE) project has resulted in mineralised intersections that exceeded the company's expectations. The company said in an update on Wednesday... 

MOD consolidates ownership of Botswana’s T3 project

By: Esmarie Swanepoel     18th July 2018 ASX-listed MOD Resources has signed a binding agreement with its joint venture (JV) partner, Metal Tiger, to acquire its 30% interest in the T3 project, in Botswana, for A$26.6-million. MOD has also acquired the rights to purchase Metal Tiger’s 30% interest in all other JV exploration assets... 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

Serbia seeks investors for copper mine

By: Reuters     18th July 2018 Serbia published a tender on Wednesday looking for a strategic partner to invest $350-million in its ailing copper mine and smelter RTB Bor. In a tender published in the Politika daily, the Economy Ministry did not say how big a stake it would give to the partner in return for its investment. 

LME to launch monthly 'implied pricing' to attract funds

By: Reuters     17th July 2018 The London Metal Exchange (LME) will launch a new set of synthetic monthly prices to make it easier for investors and funds to invest in base metals as the LME battles competition from other exchanges such as those operated by CME Group Inc.. The world's oldest and largest market for industrial... 

Union calls for mine bosses to be prosecuted for deaths of mineworkers 

By: African News Agency      17th July 2018 The National Union of Metalworkers of South Africa (Numsa) on Tuesday called for mine bosses to be prosecuted for the deaths of six miners in Limpopo at the Phalaborwa Mining Company's copper mine. The men died after they became trapped underground when a fire broke out in the early hours of... 

Anglo Asian’s production remains on upward trajectory

By: Creamer Media Reporter      17th July 2018 Production from Azerbaijan-focused Anglo Asian Mining’s Gedabek gold, copper and silver mine is continuing on an upward trajectory, instilling confidence that the full-year guidance of 78 000 oz to 84 000 oz of gold equivalent will be achieved. The Gedabek mine produced 19 042 oz of gold... 

Lundin makes another move to buy Nevsun

By: Mariaan Webb     17th July 2018 Keen to bring the Timok copper project, in Serbia, into its fold, Canadian firm Lundin Mining has announced that it will take a C$1.4-billion offer directly to Nevsun Resources shareholders, after unsuccessful attempts to engage with the company over the past five months. Lundin, which earlier... 

Lundin makes another move to buy Nevsun
Photo by Nevsun
The first blast for the exploration decline at Timok Upper Zone at the Timok copper project in Serbia, which Lundin Mining is keen to acquire.

The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Orion on track for completing Prieska BFS

By: Anine Kilian     16th July 2018 JSE-listed Orion Minerals is on track to complete its bankable feasibility study into the Prieska zinc/copper project, in the Northern Cape, by the end of the year. The company on Monday reported positive assay results from a further 13 drilled intersections at the project. 

Atalaya produces record quarterly copper production in Spain

By: Marleny Arnoldi     16th July 2018 Aim- and TSX-listed copper miner Atalaya Mining produced 10 446 t copper at its Proyecto Riotinto mine, in Spain, in the second quarter of the year, beating its first quarter production record.  

Symbol secures offtake and financing for Macy

By: Esmarie Swanepoel     16th July 2018 ASX-listed Symbol Mining has inked an offtake and marketing agreement with Noble Resources international for its Macy zinc project, in Nigeria. The offtake and marketing agreement also secured the final funding requirements for the development of the Macy project, with a short-term $3-million... 

MOD could increase plant throughput at T3

By: Esmarie Swanepoel     16th July 2018 ASX-listed MOD Resources has reported a 13% increase in the indicated resource of its T3 deposit, in Botswana, which could support a potential increase in the planned design throughput. MOD on Monday said that a reclassification of the T3 resource has seen the indicated mineral resource estimate... 

Six die in underground fire at Palabora copper mine  

By: Marleny Arnoldi     16th July 2018 Mining company Palabora Copper confirmed on Monday that six people have died at its copper mine in Phalaborwa, following a fire that broke out at its underground conveyor belt operation during the early hours of Sunday.  

How mining tycoons are trying to foil a big UK bribery probe

By: Bloomberg     16th July 2018 It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation. 

How mining tycoons are trying to foil a big UK bribery probe
Alexander Machkevitch

Copper trains ransacked by 'moles' in full-moon desert heists

By: Bloomberg     13th July 2018 On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile’s Atacama desert, before throwing 80-kg slabs of copper to the ground and disappearing into the dark. It’s a tactic known as “the cat” and the robbers are “moles” because no one knows where they come... 

Copper trains ransacked by 'moles' in full-moon desert heists

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

SSR Mining reports mixed bag in June quarter

By: Esmarie Swanepoel     13th July 2018 TSX- and New York-listed metals producer SSR Mining Inc has reported a mixed bag from its three operating mines during the three months to June Gold production from the Marigold operation increased by more than 15% during the quarter, to 49 436 oz, compared with the 42 960 oz delivered in the... 

Copper Mountain production up

By: Creamer Media Reporter      13th July 2018 The Copper Mountain mine, in British Columbia, has delivered a solid performance in the second quarter, with production increasing by 13% year-on-year, the operation’s eponymous owner reported on Thursday. The mine produced 23.1-million pounds of copper equivalent, including 20-million pounds of... 

Mining pursuing optimisation, innovation to increase profits

By: Erin Steenhoff-Snethlage     13th July 2018 Sandton-based chemical reagent supplier and distributor Axis House believes mining in Africa is moving towards process optimisation through innovation to reduce costs and increase profits, explains Axis House group general manager Justine Stubbs. “Mines are optimising various processes to achieve... 

Joburg to host ‘safe drilling’ event this month

By: Nadine James     13th July 2018 The DrillSafe initiative will host its inaugural Drill Safe Drill Rig & Safety Innovation Forum at the Glen Hove Conference Centre, in Johannesburg, on July 20.  The forum will explore innovations in to drilling equipment and the exploration work environment, explains DrillSafe founder and Colin... 

Joburg to host ‘safe drilling’ event this month
Photo by Creamer Media
SAFETY IS PARAMOUNT Colin Rice notes that almost every accident in an exploration drilling environment is related to human error

Mintek, Unisa acquire 3D X-ray microscopy system

By: Marleny Arnoldi     12th July 2018 Minerals beneficiator Mintek and Unisa’s College of Science, Engineering and Technology have jointly acquired a three-dimensional (3D) X-ray microscopy system, which the companies will launch on July 24 at Unisa’s Florida science campus.  

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