R/€ = 15.99 Change: 0.10
R/$ = 14.01 Change: 0.20
Au 1221.51 $/oz Change: 6.02
Pt 845.50 $/oz Change: 3.71

Base Metals News

Sunstone’s Viscara sale becomes binding

By: Esmarie Iannucci     3rd October 2018 ASX-listed Sunstone Metals has enacted an earlier letter of intent to divest of its Viscaria copper project, in Sweden, in a transaction valued at A$47.3-million. Under the terms of a binding share sale and purchase agreement with Swedish listed Copperstone Resources, Sunstone will receive an... 

Bunker Hill Mining in default of lease agreement

By: Creamer Media Reporter      3rd October 2018 Junior firm Bunker Hill Mining confirmed on Tuesday that it was in default of its lease with option to purchase agreement with Placer Mining, after it missed payments totalling $400 000. The option is to acquire 100% of the Bunker Hill mine, which once was the largest producing mine in the Coeur... 

Panoro partners with Jogmec in Peru

By: Creamer Media Reporter      3rd October 2018 Copper explorer Panoro Minerals has a new joint venture partner in Peru, with Japan Oil, gas and Metals National Corporation (Jogmec) entering an agreement to earn up to 60% indirect interest in the Humamantata property, in Peru. In terms of the option, Jogmec invest $8-million in the... 

Peru's mining investment boom leaves political woes behind

By: Bloomberg     3rd October 2018 Peru’s ability to post eight consecutive months of investment growth is calming fears that political woes would derail mining activity in the world’s second-largest producer of copper, zinc and silver. Mining investment in Peru jumped 6.3% August compared with last year, to $395-million,... 

Zambia mines to pay mineral royalties in dollars to stabilize kwacha

By: Reuters     3rd October 2018 Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency , its finance minister said on Tuesday. The kwacha gained more than 5% to close at 11.9500 per dollar on Tuesday after hitting 12.6750 on... 

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

Study confirms ‘quality, size’ of Copper Mountain’s Eva

By: Esmarie Iannucci     2nd October 2018 Dual-listed Copper Mountain Mining has estimated that its Eva copper project, in Queensland, would require a capital investment of $350-million to develop. A feasibility study, results of which were announced on Tuesday, found that the project would produce 334-million tonnes of ore and waste... 

AfriTin acquires additional exploration licences through Tantalum Investment

By: Simone Liedtke     2nd October 2018 Aim-listed AfriTin Mining will acquire the entire issued share capital of Namibia-based private company Tantalum Investment (TI), which holds two exploration licences for tin, tantalum and other associated materials, from Jan Jonathan Serfontein. TI is being acquired for £850 000, to be satisfied... 

Vedanta shareholders back London delisting amid protest

By: Reuters     2nd October 2018 Shareholders in Vedanta Resources, the UK arm of Indian miner Vedanta, on Monday backed the delisting of the company from London, where the miner has faced protests and legal action. Volcan Investments, the family trust of Vedanta chairman and founder Anil Agarwal, announced a roughly... 

Vedanta shareholders back London delisting amid protest
Anil Agarwal

Ivanhoe announces third major copper discovery in DRC

By: Simone Liedtke     1st October 2018 TSX-listed Ivanhoe Mines has made an important new discovery of high-grade copper on its 100%-owned Western Foreland licences, west of the Kamoa-Kakula mining licence in the Democratic Republic of Congo (DRC). This discovery, Makoko, is the first of multiple high-potential target areas identified... 

Ivanhoe announces third major copper discovery in DRC
Photo by Creamer Media
Ivanhoe executive co-chairperson Robert Friedland

Arc Minerals raises £2m for exploration, development at Zambia project

By: Simone Liedtke     1st October 2018 Aim-listed Arc Minerals will raise about £2-million to help fund exploration and development work on the company’s Kalaba copper/cobalt project, in Zambia, and for general working capital purposes. On Monday, the company placed more than 44-million units at 4.5p a unit, with each unit comprising... 

Norway to lift grid tariffs and halve discounts for big consumers by 2021

By: Reuters     1st October 2018 Norway's Statnett will lift electricity grid tariffs by 9% in 2019 and halve the discounts granted to its most power-intensive consumers within three years, it said in a statement on Monday. The grid operator is changing its tariff models in order to pay for investments in Norway's distribution... 

Lundin names new CFO as Inkster formally assumes CEO role

By: Mariaan Webb     1st October 2018 Canadian base metals miner Lundin has promoted VP of finance, Jinhee Magie, to the position of senior VP and CFO, succeeding Marie Inkster, who on Monday formally took over from Paul Conibear as president and CEO. Conibear, who announced his retirement in July, will continue as an adviser until... 

Rio Tinto and Freeport aim to close Grasberg deal in Q1

By: Esmarie Iannucci     1st October 2018 Mining major Rio Tinto has confirmed that it has signed a binding agreement to divest of its interest in the Grasberg mine, in Indonesia. In terms of the divestment agreement announced last week, State-owned enterprise PT Indonesia Asahan Aluminium (Inalum) will acquire all of Rio Tinto’s... 

Fitch Solutions revises zinc price forecast for 2018 downwards

By: Tasneem Bulbulia     28th September 2018 Fitch Solutions Macro Research has revised its forecast zinc price for this year down to an average $3 000/t, compared with the previously expected $3 100/t, after the zinc price fell by more than expected in the third quarter. The decrease in the zinc price is attributable to the escalating... 

Zambia hikes mining taxes in 2019 budget to rein in debt

By: Reuters     28th September 2018 Zambia will introduce new mining duties and increase royalties to help bring down mounting debt and narrow its fiscal deficit, Finance Minister Margaret Mwanakatwe said on Friday. Presenting a 86.8-billion kwacha ($7.10-billion) budget, Mwanakatwe said Zambia planned to trim its fiscal deficit to... 

Bezant pitching Philippines copper/gold project to large miners

By: Mariaan Webb     28th September 2018 Aim-listed copper/gold explorer Bezant Resources is actively marketing its Mankayan copper project, in the Philippines, to large mining groups and institutions that recognise the strength of copper fundamental, executive chairperson Colin Bird said on Friday. The project, which is now Bezant’s... 

SolGold CEO: High grades deliver independence

By: Mariaan Webb     28th September 2018 High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday. Responding to critics saying that Brisbane-based SolGold is too small to fund a... 

SolGold CEO: High grades deliver independence
The Cascabel project, in Ecuador.

Indian aluminium producers seek higher import barriers

By: Ajoy K Das     28th September 2018 Indian domestic aluminium refiners are seeking tariff and non-tariff barriers to stem the rising tide of imports of the base metal into the country, which has led to lower sales by local metal producers. Major integrated aluminium refiners in the country, including State-run National Aluminium... 

Indian aluminium producers seek higher import barriers

Constantine updates Palmer resource to indicated category at 11% zinc

By: Marleny Arnoldi     28th September 2018 TSX-listed Constantine Metal Resources (CMR) has updated its mineral resource estimate for the Palmer copper/zinc/gold/silver deposit, in Alaska, to an indicated resource of 4.6-million tonnes, grading 11.67% zinc equivalent and 3.84% copper equivalent. This mineral resource update represents... 

India copper imports surge

By: Ajoy K Das     28th September 2018 Almost a third of India’s domestic demand for copper is being met through imports with local copper refiners facing a challenge to meet this cheaper inflow of the base metal into the country. “There has been a surge in copper imports particularly from countries that have signed free trade... 

China battery firms set up $700m nickel JV in Indonesia

By: Reuters     28th September 2018 Chinese battery firm GEM on Friday said it was teaming up with four companies to invest a total of $700-million in a project to produce battery-grade nickel chemicals in Indonesia. The investment comes as several global metals producers have also set their sights on Indonesia's nickel reserves,... 

Union says reached wage deal with Alcoa Australia, will end strike

By: Reuters     28th September 2018 Unionised workers at aluminium producer Alcoa's Western Australian operations on Friday agreed to end a strike that lasted more than six weeks after securing better job security provisions in a new wage agreement. Workers at two alumina refineries and three bauxite mines walked out on August 8... 

Energy Fuels to start vanadium production in November

By: Marleny Arnoldi     28th September 2018 NYSE- and TSX-listed Energy Fuels expects to resume vanadium production at its White Mesa mill, in Utah, in mid-November, with saleable vanadium oxide ready by the end of December. When production starts, Energy Fuels will be the newest vanadium producer worldwide and the only primary producer... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine

By: Mariaan Webb     28th September 2018 The New Ingerbelle property, located about one kilometre from the Copper Mountain mine, in southern British Columbia, is a strong candidate to be incorporated into the current mine’s plan aimed at increasing yearly production. The New Ingerbelle deposit is expected to produce 768-million pounds... 

Copper Mountain publishes PEA for deposit adjacent to flagship mine
The Copper Mountain mine, near Princeton, British Columbia.

Digitalisation at Gamsberg project takes centre stage

By: Paige Müller     28th September 2018 Digitalisation in the mining industry is not something for the future – it is immediate, and is, or should be, the here-and-now of all the work mining companies do as an industry, says global diversified miner Vedanta’s Africa Base Metals CEO Deshnee Naidoo. “Digitalisation is not a threat to... 

Digitalisation at Gamsberg project takes centre stage
DESHNEE NAIDOO Vedanta Zinc International CEO Deshnee Naidoo will speak about the digitalisation of mining and mine operations at this year’s Joburg Indaba

Lifting-equipment orders from Zambia’s Mopani Copper Mines exceed R100m – Condra Cranes

By: Nadine James     28th September 2018 Condra Cranes shipment of lifting equipment despatched in late August to Zambia-based copper mine Mopani Copper Mines has raised Condra’s order intake from Mopani to more than R100-million. Comprising one electric travelling overhead crane, 38 hoists, two large, and seven smaller, jib cranes, the... 

Mitak liners improve overall performance

By: Nadine James     28th September 2018 Johannesburg-based high chrome white irons (HCWI) foundry Mitak produces hard-wearing, abrasion resistant mill and ore-chute linings that can improve the life and grinding-performance of mills, and assist in meeting Mining Charter III local procurement obligations, says Mitak business development... 

Mitak liners improve overall performance
Photo by Creamer Media
GRAHAM ANDERSON & KEVIN KEELING Mitak has the ability to reverse engineer existing liners using laser and optical technology

NMDC firms up capex for next two financial years

By: Ajoy K Das     27th September 2018 India’s largest iron-ore miner, NMDC, has earmarked a capital expenditure (capex) of $902-million over the next two financial years. NMDC has committed this investment even as the miner is on verge of starting commercial production of its three-million-ton greenfield steel plant in the central... 

Zinc explorer Erris Resources shines

By: Mariaan Webb     27th September 2018 Europe-focused exploration company Erris Resources received a share price boost on Thursday, after the company published its interim results, highlighting the high-grade mineralisation of its Abbeytown zinc project, in Ireland, and its strong cash position of €2.59-million at September 26.... 

Freeport seals deal with Indonesia on giant Grasberg copper mine

By: Bloomberg     27th September 2018 Freeport-McMoRan and Indonesia signed an agreement, paving way for the US miner to hand over majority control of the giant Grasberg copper and gold mine to a local State-owned company. Freeport CEO Richard Adkerson and PT Indonesia Asahan Aluminium president director Budi Gunadi Sadikin signed... 

Freeport seals deal with Indonesia on giant Grasberg copper mine

Tando speeds up drilling at SPD project, targets Jorc-compliant resource by end-October

By: Marleny Arnoldi     27th September 2018 ASX-listed junior exploration company Tando Resources has mobilised another diamond core rig at its SPD Vanadium project, in South Africa, with three rigs now drilling out the 513-million-tonne resource. This will contribute to the publication of a Joint Ore Reserves Committee- (Jorc-)... 

Inferred resource estimate released for Iron Creek cobalt project

By: Mariaan Webb     27th September 2018 The Iron Creek cobalt project in Idaho, US, has received its first NI 43-101-compliant inferred mineral resource estimate, TSX-V and ASX-listed First Cobalt announced on Wednesday. The inferred mineral resource is estimated at 29.6-million tons (26.9-million tonnes) grading 0.11% cobalt... 

Trafigura Group helps re-establish historic African trade route

By: Tasneem Bulbulia     26th September 2018 Independent commodity trading group Trafigura has successfully taken the first step towards reopening one of Africa’s most historic trade routes, with a train journey that ended in the Angolan port of Lobito on Saturday, September 22. A cargo of 800 t of copper blister, bought by Trafigura from... 

Sibanye highlights Lonmin, DRDGold deal attractions at Denver

By: Martin Creamer     26th September 2018 The progressing Lonmin acquisition and the already done DRDGold deal have been highlighted to the Denver Gold Forum by Sibanye-Stillwater, which is currently hosting investors and analysts at its Stillwater mine in Montana. The forum heard how the Lonmin acquisition would add significantly to... 

Sibanye highlights Lonmin, DRDGold deal attractions at Denver
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Illegal blockade temporarily halts Trevali’s Peru mine

By: Creamer Media Reporter      26th September 2018 Operations at the Santander zinc mine, in Peru, have been temporarily halted, owing to an illegal blockade by a group of community members claiming that the company has failed to satisfy its investment obligations. The blockade had stopped the delivery of scheduled supplies to the mine,... 

Elementos ups Tasmania project's tin/copper resources

By: Mariaan Webb     26th September 2018 ASX-listed Elementos has increased the Cleveland project’s tin resource estimate by 168% and the copper estimate by 164%, following a revised Joint Ore Reserve Committee study. The openpit resource now contains 17 955 t of tin and 4 624 t of copper, the owner of the Tasmania-based project... 

Tribunal rules in favour of group contesting Atalaya enviro declaration

By: Mariaan Webb     26th September 2018 Aim- and TSX-listed Atalaya Mining is considering its options at the Proyecto Riotinto mine, in Spain, after the Tribunal Superior de Justicia de Andalucía ruled in favour of an environmental group against the government of Andalucía (JdA). Atalaya was a co-defendant in the case, which stems... 

Tribunal rules in favour of group contesting Atalaya enviro declaration

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