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Base Metals News

Botswana’s Mowana copper mine applies for provisional liquidation

By: Mariaan Webb     19th December 2018 Base and precious metals company Cradle Arc has applied for the provisional liquidation of its 60%-owned Leboam Holding subsidiary, which owns the now suspended Mowana copper mine, in Botswana, while talks on alternative funding arrangements continue. The mine is facing significant working... 

Platreef Shaft 1 reaches 850 m below surface

By: Creamer Media Reporter      18th December 2018 Shaft 1 at Ivanplats’ Platreef project, near Mokopane ,in South Africa, has reached a depth of 850 m below the surface and work has begun on the 850 m station – the second of three horizontal mining access stations planned for the shaft that is currently under construction. The first mining... 

Glencore billionaire among directors banned, fined by Canada

By: Bloomberg     18th December 2018 Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined. Mistakidis, who is retiring from Glencore at the end of this... 

Glencore billionaire among directors banned, fined by Canada

Orion shares jump on Prieska resource upgrade

By: Mariaan Webb     18th December 2018 Orion Minerals on Tuesday announced an updated mineral resource for its Prieska project’s total deep sulphide resource, sending the company’s stock on the JSE up nearly 22%. The junior, which is also listed on the ASX, reported a mineral resource of 28.73-million tonnes, grading 3.77% zinc and... 

Rio Tinto wraps up $500m sale of French smelter

By: Creamer Media Reporter      18th December 2018 Diversified major Rio Tinto has completed the sale of its aluminium smelter at Dunkerque, France, to Liberty House for $500-million. Liberty House, which is part of the GFG Alliance (Gupta Family Group), has committed to continuing operations at the smelter and has announced plans for the... 

Mason shareholders approve takeover by Hudbay

By: Mariaan Webb     18th December 2018 Shareholders in Mason Resources on Monday approved a plan of arrangement with Hudbay Minerals, whereby the diversified miner will acquire Mason for C$0.40 a share. At the meeting, the shareholders approved the arrangement resolution with about 97.43% of the votes cast being for the resolution,... 

India’s Nalco lines up $6.33bn expansion projects

By: Ajoy K Das     18th December 2018 Indian State-run National Aluminium Company (Nalco) has lined up $3.52-billion investments on brownfield expansion and another estimated $2.81-billion on greenfield projects over the next few years. According to Nalco chairperson, T K Chand, the company is expecting to close the current... 

Canadian regulator to consider Katanga settlement proposal Tuesday

By: Reuters     18th December 2018 A Canadian regulator will consider on Tuesday whether to accept a proposal from Katanga Mining to settle allegations related to the Glencore-controlled company's activities in Democratic Republic of Congo. Katanga said in a statement on Monday it could not give details of the proposal until... 

Newcrest raises stake in Ecuador copper/gold developer SolGold

By: Reuters     18th December 2018 Australian gold miner Newcrest Mining Ltd has raised its holdings in Ecuador gold and copper developer SolGold, nudging further ahead of the company's second biggest investor BHP Group . Newcrest International paid 11.148-million pounds for 27.87-million shares of SolGold at 0.40 pound a share,... 

Newcrest raises stake in Ecuador copper/gold developer SolGold
SolGold's CEO Nick Mather

Metal bulls cheer end to 'horrid' year; Goldman touts copper

By: Bloomberg     18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ

By: Reuters     17th December 2018 A Glencore-controlled mining company and some of its current and former executives have agreed to pay more than $22-million to settle Canadian allegations they hid the risks of doing business with an Israeli close to Congolese President Joseph Kabila, the Wall Street Journal reported. The... 

Canadian regulator to fine Glencore-controlled miner over Congo - WSJ
Katanga Mining's operations in the Democratic Republic of Congo.

Zambia threatens to expel foreign workers over mine job cuts

By: Bloomberg     17th December 2018 Zambia threatened to cancel work permits for some foreign workers at mines that it accuses of announcing job cuts to "arm-twist" the government over proposed tax changes. “They downsize the local workers, we also send back some of the foreign workers. And we decide who to send back,” Home... 

 Zambia threatens to expel foreign workers over mine job cuts

Imperial Metals hires BMO to speed up restructuring – sources

By: Reuters     15th December 2018 Canadian copper producer Imperial Metals has hired Bank of Montreal (BMO) to speed up a restructuring process that could include the sale of the company for up to $1-billion, two sources familiar with the matter said. Imperial Metals, backed by Canadian billionaire Murray Edwards, earlier this... 

Chinese battery firm halts purchases of cobalt from Glencore – sources

By: Reuters     14th December 2018 Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. GEM said in a March 14 regulatory filing that it would buy 52 800 tonnes of cobalt from... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners 

By: Simone Liedtke     14th December 2018 Junior mining in South Africa will finally see a new level of growth as a result of South Africa’s newly gazetted Mining Charter 3, base metals miner Orion Minerals CEO Errol Smart told Mining Weekly Online on Friday. Junior mining, which he says has been the “bottom-feeding sector” in the mining... 

Orion’s flagship Prieska project to be a beacon of hope for junior miners
Orion CEO Errol Smart

MOD granted renewals on all its Botswana prospecting licences

By: Marleny Arnoldi     14th December 2018 ASX- and Aim-listed MOD Resources reported on Friday that all its prospecting licences across the joint venture (JV) landholdings in the Botswana copperbelt have been granted two-year extensions. Additionally, a new licence has been issued for three years. 

Prieska project edging closer to construction

By: Nadine James     14th December 2018 Dual-listed base metals miner Orion Minerals will release an updated Joint Ore Reserves Committee- (Jorc-) compliant resource statement for its Prieska zinc/copper project later this month. The Northern Cape project has a Jorc-defined maiden resource of 1.1-million tonnes of contained zinc... 

Prieska project edging closer to construction
Photo by Creamer Media
BUILDING ON FORMER GLORY Prieska produced 47-million tonnes of sulphide over 20 years and Orion can use the same processes as Prieska, but optimised through modern equipment and newer methodologies achieve greater heights

Global association aims to build sustainable future for zinc 

By: Shannon de Ryhove     14th December 2018 Global association the International Zinc Association (IZA) was created in 1991 by a group of leading zinc producers who are guided by the principle of undertaking actions that positively influence the market and the image of zinc. IZA Africa regional director Hazvinei Munjoma spoke to Mining... 

Global association  aims to build sustainable  future for zinc
IZA-Africa regional director Hazvinei Munjoma discusses the association’s initiatives. Camerawork and Editing: Nicholas Boyd.

Cuba sees nickel output topping 50 000 t

By: Reuters     13th December 2018 Cuba's nickel plus cobalt sulfide production will top 50 000 t this year and earnings are up over 2017, the head of the country’s state monopoly Cubaniquel was quoted by local media as stating on Wednesday. Nickel is one of the cash-strapped Communist-run country’s most important exports, but... 

Orion Minerals to restart Prieska production in 2021 

By: Simone Liedtke     13th December 2018 Polymetallic minerals exploration and development company Orion Minerals’ flagship Prieska zinc/copper mine, in the Northern Cape, is expected to start production by 2021. This is notwithstanding any potential challenges and delays, Orion COO Walter Shamu said during a media briefing on Thursday. 

Orion Minerals to restart Prieska production in 2021
Orion Minerals COO Walter Shamu speaks to Mining Weekly Online about the miner's flagship Prieska project, located in the Northern Cape. Video & Editing: Nicolas Boyd

Codelco says Chuquicamata mine operating normally despite protests

By: Reuters     13th December 2018 Chile's Codelco said its sprawling Chuquicamata copper mine was operating normally after workers blocked access to the mine overnight Thursday. Unions at Chuquicamata, the state miner's second largest by output, have protested for months over plans to transform the century-old open pit into an... 

Resources Watch  

13th December 2018 Global association aims to build sustainable future for zinc And, Innovate and generate cash at same time 

Resources Watch
Resources Watch

Power Ore buys former Falconbridge copper complex

By: Mariaan Webb     13th December 2018 The Opemiska copper complex – a former Falconbridge asset – has a new owner, which intends to fast-track the two past-producing copper mines near Chapais, Quebec, as part of a strategy of investing in metals that stand to benefit from a move to battery-powered vehicles. TSX-V-listed Power Ore... 

Power Ore buys former Falconbridge copper complex

Anti-mine stance eases in second-largest copper producer

By: Bloomberg     12th December 2018 Voters in the world’s second-largest producer of mined copper and zinc cast out some fierce opponents of giant mines, ushering in a change of guard that could potentially lure investments to some of Peru’s most impoverished regions. Citizens in Cajamarca, the South American nation’s poorest... 

Germany secures access to vast lithium deposit in Bolivia

By: Reuters     12th December 2018 Germany and Bolivia on Wednesday sealed a partnership for the industrial use of lithium, a key raw material for battery cell production, in an important step to become less dependent on Asian market leaders in the dawning age of electric cars. Interest in battery metals such as cobalt, nickel... 

BHP stuck with small copper mine as would-be buyer backs out

By: Bloomberg     12th December 2018 The sale of BHP Group’s smallest copper mine in Chile has been called off after the would-be buyer, EMR Capital Advisors, failed to come up with the money on time. The two parties ended their agreement for the Cerro Colorado mine, with Melbourne-based EMR unable to meet a funding deadline for... 

BHP stuck with small copper mine as would-be buyer backs out

Greece seeks to avert nickel producer Larco shutdown

By: Reuters     12th December 2018 Greece is trying to avert the possible closure of Europe's biggest nickel producer Larco and is looking at ways to ensure there are no interruptions to its electricity supply, the country's energy ministry said on Wednesday. Larco, which is 55%-owned by the Greek state, owes about €280-million... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

Horizonte details economics of Araguaia expansion

By: Mariaan Webb     12th December 2018 An assessment of a second stage expansion of the planned Araguaia nickel project, in Brazil, has delivered compelling economic results, with a base case net present value (NPV) of $741-million and an internal rate of return (IRR) of 31.8%, Aim- and TSX-listed Horizonte Minerals reported on... 

Horizonte details economics of Araguaia expansion

Alcoa signs up more gas in WA

By: Esmarie Iannucci     12th December 2018 Aluminium major Alcoa has secured three new gas supply agreements that would supply 25% of the company’s Western Australian gas requirements from 2020. Alcoa has struck agreements with providers BHP, Woodside and Chevron, and coupled with existing supply contracts with Santos and Quadrant... 

Botswana’s Mowana copper mine suspends operations over working capital

By: Reuters     12th December 2018 Mowana Mine, Botswana's only operating copper mine, has suspended operations due to working capital constraints which has seen the company fail to pay salaries and suppliers, it said on Tuesday. Mowana had a conditional $4-million working capital facility from Fujax Minerals and Energy Limited,... 

Capstone to debottleneck Cozamin

By: Mariaan Webb     11th December 2018 The Cozamin mine, the foundation upon which Canadian base metals miner Capstone Mining has been built, is set for a 30% production increase by the end of 2020, at an investment of less than $5-million. Production is currently constrained by the mine’s ability to deliver ore to the surface, but... 

Thalanga output set to rise - Red River

By: Esmarie Iannucci     11th December 2018 Ore production from the Far West underground mine, at the Thalanga zinc project, in Queensland, is expected to start in the first quarter of 2019. Owner Red River Resources on Tuesday reported that ore from the Far West underground would augment the West 45 ore, and would increase production at... 

Zambian mines warn tax changes could lead to 21 000 job losses

By: Bloomberg     11th December 2018 Zambia’s planned mining royalty increases could lead to more than 21 000 job losses and operators cutting $500-million in capital spending over the next three years, an industry lobby group said. Members of the Chamber of Mines, which represents companies including Glencore, First Quantum... 

Yet another invasion at Aura's Honduras mine

By: Mariaan Webb     11th December 2018 Midtier gold and copper miner Aura Minerals has suspended mining operations at its San Andres mine, in Honduras, following another illegal invasion by a number of individuals. The illegal occupation follows a similar event earlier this year, which in July led to the company laying off 44... 

MOD anticipates promising copper mineralisation from T23 Dome in Botswana

By: Marleny Arnoldi     10th December 2018 ASX-listed MOD Resources has announced additional results from widely spaced drilling at the T23 Dome, of the company’s exploration joint venture project with Aim-listed Metal Tiger, in Botswana. The third drill hole at T23 has intersected zones of visible, finely disseminated copper sulphides... 

Gecamines increases stake in Boss Mining joint venture to 49% 

By: Reuters     10th December 2018 The Democratic Republic of Congo's State mining company Gecamines said on Monday it would increase its stake in its Boss Mining joint venture with ENRC Africa Holdings to 49% after the two companies renegotiated terms. The state miner is moving to increase its take from joint ventures with... 

Europa to progress Toral to full feasibility study

10th December 2018 Explorer Europa Metals is progressing its Toral project to full a full feasibility study to determine the economics, technical and environmental parameters for an underground mining operation in the Castilla y León region of Spain. This follows the outcomes of a positive scoping study, which... 

Europa to progress Toral to full feasibility study

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