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Base Metals News

Glencore Congo deals are said to be part of latest offshore leak

By: Bloomberg     30th October 2017 Glencore could face renewed scrutiny of its business in the Democratic Republic of Congo after confidential information was released in the data breach of a major offshore law firm, according to people familiar with the matter. The documents relate to Glencore’s acquisition of Katanga Mining,... 

Wolf increases bridge facility to £55m

By: Esmarie Swanepoel     30th October 2017 ASX and Aim-listed Wolf Minerals has increased an existing bridge facility by £10-million to support short-term working capital as the company progressed operations at its Drakelands tungsten mine, in the UK. An existing bridge facility with Resource Capital Fund VI has been increased from... 

Orion raises cash to advance South African project

By: Esmarie Swanepoel     30th October 2017 Metals developer Orion Minerals will raise A$5.5-million in a share placement to progress its Prieska zinc/copper project, in South Africa. Some 229.1-million shares will be placed in two tranches to sophisticated and professional investors, priced at 2.4c each. 

PEA demonstrates ‘extremely compelling’ economics for Timok Upper Zone

By: Henry Lazenby     27th October 2017 Canadian base metals producer Nevsun Resources has reported strong economics for its proposed Timok Upper Zone project, in Serbia. The results of a preliminary economic assessment (PEA), completed by Vancouver-based SRK, has outlined a $630-million project that will produce 2.1-billion pounds of... 

Metals study groups appoint Paul White as new secretary general

By: Henry Lazenby     27th October 2017 The International Copper Study Group, the International Lead and Zinc Study Group (ILZSG) and the International Nickel Study Group have appointed Paul White as their new secretary general to replace Don Smale, who will retire on December 31. Assuming his new role on January 1, White is currently... 

Deep sea mining viability gets boost as prices rise, land-based ore depletes

By: Natasha Odendaal     27th October 2017 As demand for rare earths and precious minerals increase amid a drive towards a low-carbon economy, depleting land-based reserves are increasingly boosting the commercial viability and attractiveness of the “last frontier” of deep sea mining. With growing demand driving the prices for copper,... 

Battery boom relies on one African nation avoiding chaos of past

By: Bloomberg     27th October 2017 The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of... 

Panoramic updates feasibility study for WA base metals project

By: Esmarie Swanepoel     27th October 2017 An updated feasibility study (FS) into the Savannah base metals project, in Western Australia, has solidified project economics for project owner Panoramic Resources. The updated PFS found that Savannah could support production of 10 800 t/y of nickel, 6 100 t/y of copper and 800 t/y of cobalt,... 

Panoramic updates feasibility study for WA base metals project

Plomosas restart proves possible for Consolidated

By: Esmarie Swanepoel     27th October 2017 A scoping study into the restart of operations at the Plomosas base metals mine, in Mexico, has proved positive for ASX-listed Consolidated Zinc. The study focused on mining the Tres Amigos resource using existing infrastructure, while optimising and drilling to expand the remaining resource to... 

Sherritt narrows Q3 loss as higher commodity prices, lower costs boost the bottom line

By: Henry Lazenby     26th October 2017 Canadian diversified miner Sherritt International has reported improved headline earnings for the three months ended September, as higher realised prices for nickel, cobalt and oil and lower unit operating costs, mainly for nickel and electricity boosted earnings. Excluding special items, the net... 

KAZ lifts copper, gold and silver production guidance

By: Mariaan Webb     26th October 2017 Copper miner KAZ Minerals has increased its copper guidance for 2017 to between 250 000 t and 270 000 t, following a strong performance at its Aktogay mine, in eastern Kazakhstan. The mine produced 31 200 t of copper, comprising 23 300 t from the newly commissioned sulphide operations and 8 000 t... 

Freeport trades lower on earnings miss as production falls

By: Henry Lazenby     25th October 2017 The NYSE-listed equity of the world’s second-largest publicly traded copper miner by market capitalisation traded as much as 3.87% lower on Wednesday, despite confidently beating earnings forecasts as lower-than-expected output weighed on investor sentiment. For the three months ended September... 

Freeport trades lower on earnings miss as production falls
Photo by Freeport-McMoRan
SAG mills at Freeport's Grasberg mine, in Indonesia

Savannah raises £3.91m to advance pipeline of projects

By: Creamer Media Reporter      25th October 2017 Aim-listed Savannah Resources has raised about £3.91-million through the issue of about 74.43-million shares to new and existing investors at a placing pricing of 5.25p a share. It has also issued one warrant for every two new subscriptions shares, with each warrant having an exercise price of 6p. 

Govt eager to get mining parties back to the table – Gigaba

By: Natasha Odendaal     25th October 2017 With the implementation of the revised – and heavily contested – Mining Charter Three postponed to December, Finance Minister Malusi Gigaba on Wednesday said it was critical that the current impasse in the mining sector be resolved. Earlier this year, the Department of Mineral Resources (DMR)... 

Govt eager to get mining parties back to the table – Gigaba
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Deepening nickel deficit forecast as EV market booms

By: Creamer Media Reporter      25th October 2017 As the world is speeding ahead with a move towards more electric vehicles (EVs), including hybrids, plug-ins and full electric cars, the nickel market is heading for deepening deficits, falling stocks and rising prices. This is the view of Wood Mackenzie principal analyst Sean Mulshaw, who... 

Deepening nickel deficit forecast as EV market booms

Antas production up in Sept quarter

By: Esmarie Swanepoel     25th October 2017 Metals miner Avanco Copper has reported an increase in both copper and gold production for the three months to September. The ASX-listed company on Wednesday reported that copper-in-concentrate for the September quarter was up 3% on the June quarter, to 3 698 t, while gold-in-concentrate... 

Shared vision needed for mining to boost entire economy – Mgojo

By: Martin Creamer     24th October 2017 A collective national vision, which must be viable, inclusive and transformative, is urgently needed to unleash mining’s latent ability to energise the entire South African economy, Chamber of Mines president Mxolisi Mgojo said on Tuesday. Speaking at a media lunch, Mgojo emphasised the folly of... 

Shared vision needed for mining to boost entire economy – Mgojo
Photo by Duane Daws
Chamber of Mines president Mxolisi Mgojo

Weatherly’s Tschudi mine output rises 21% q/q in Sept quarter

By: Anine Kilian     24th October 2017 Copper cathode production at Aim-listed Weatherly International’s Tschudi mine, in Namibia, improved by 21% quarter-on-quarter to 4 105 t in the quarter ended September 30.  Tschudi C1 costs reduced by 15% to $5 402/t. “The company continues to experience lower-than-anticipated leach rates . . .... 

Mixed fortunes for Anglo’s copper, coal and nickel divisions

By: Ilan Solomons     24th October 2017 Diversified major Anglo American recorded increases in production at its copper units, while coal and nickel production decreased in the third quarter, ended September 30. The company on Tuesday posted a 6% year-on-year increase in production on a copper-equivalent basis in the third quarter of... 

Mixed fortunes for Anglo’s copper, coal and nickel divisions
Photo by Bloomberg
For the first nine months of the year, copper equivalent production increased by 8%, while copper production increased by 5% to 147 300 t

Eramet expects significantly higher operating profit

By: Mariaan Webb     24th October 2017 French multinational Eramet’s operating income for 2017 is expected to exceed that of the previous year, the nickel and manganese producer reported on Tuesday, citing higher prices and productivity gains. The Euronext Paris exchange-listed miner reported operating profit of €84-million in 2016... 

Eramet expects significantly higher operating profit

Arconic sinks on earnings miss; appoints former GE boss as CEO

By: Henry Lazenby     23rd October 2017 The New York-listed equity of alloy metals specialist Arconic dipped on Monday after the company reported disappointing third-quarter results. The New York-headquartered company revealed a headline profit of $132-million, or $0.25 a share, compared with $137-million in the comparable quarter of... 

Arconic sinks on earnings miss; appoints former GE boss as CEO

Chinese clamp down expected to support alumina, aluminium price strength

By: Henry Lazenby     23rd October 2017 The successful government-led rebalancing of several Chinese industries has supported alumina and aluminium prices globally. However, smelter restarts might undermine prices in 2018, according to a new report by Bank of America Merrill Lynch (BofAML) Global Research. The banking group pointed out... 

Jubilee expands footprint with Zambia zinc/lead JV

By: Anine Kilian     23rd October 2017 Jubilee Platinum has formed a joint venture (JV) with Aim-listed BMR Group to recover zinc, lead and vanadium at BMR’s Kabwe project, in Zambia.  Under terms of the deal, AltX- and Aim-listed Jubilee will have the right to earn into the Kabwe operations through a three-staged debt funding.... 

Jubilee expands footprint with Zambia zinc/lead JV
Photo by Duane Daws
Jubilee CEO Leon Coetzer

Energia appoints exploration manager in Italy

By: Creamer Media Reporter      23rd October 2017 Explorer Energia Minerals has appointed Fabio Granitzio to head up its exploration strategy in Italy, focusing on the flagship Gorno zinc project and other exploration assets, including the newly granted licence covering the historic Salafossa project. Prior to his appointment, Granitzio was... 

Southern Copper says Q3 profit doubled, expects Tia Maria permit

By: Reuters     23rd October 2017 Southern Copper Corp said on Friday that its net profit doubled to $401.8 million in the third quarter from the same period a year earlier as sales surged on higher copper prices. The Arizona-based company, controlled by Grupo Mexico , added that it expects Peru's government to issue a... 

Southern Copper says Q3 profit doubled, expects Tia Maria permit

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

Rio is said to hold talks with Indonesia on Grasberg mine exit
Grasberg gold and copper operation, Indonesia

Barclays sued by fund for $850m for copper market abuse

By: Bloomberg     20th October 2017 Red Kite Management, the world’s largest metals hedge fund, is suing Barclays Plc for alleged market abuse in the copper market that it claims cost the firm at least $850-million between 2010 and 2013. The case pits a $2-billion hedge fund against a bank that has been hit by a number of scandals... 

Nigeria seeks to boost mining reserves to lure investors

By: Bloomberg     20th October 2017 Nigeria plans to spend 15-billion naira ($42-million) over the next year to explore for minerals and attract investors into mining and reduce its dependence on oil, Solid Minerals Development Minister Kayode Fayemi said. “Because we are starting from a low base, we want to have a portfolio of... 

Rise in DRC exploration activity expected

     20th October 2017 With the improvements in the copper price, mining interest will soon be returning to the Democratic Republic of Congo (DRC), says mining consultancy SRK Consulting country manager Susa Maleba.   “In fact, for explorers wanting to initiate drilling programmes, time is running out,” says Maleba.... 

Rise in DRC exploration activity expected
EXTENDING LIFE The sulphide resources underlying the oxide resources at Kinsevere have the potential to extend the mine life to 2033

South Africa spending less than its peers on mining research and development

By: Mia Breytenbach     20th October 2017 While South Africa had increased its investment in mining research and development (R&D) since 2014, the country’s investment was still below that of its peers, delegates heard during a panel discussion on ‘Technological Innovation and Advancements in the Mining Industry’ at the Joburg Indaba... 

Gamsberg zinc project a thumbs up for South Africa amid investment slowdown

By: Mia Breytenbach     20th October 2017 Amid low levels of capital project activities in South Africa, the $400-million Gamsberg zinc and lead project, in the Northern Cape, has become the largest mining project under execution in the country. “Commentators have noted that this significant investment in the South African mining... 

Gamsberg zinc project a thumbs up for South Africa amid investment slowdown

General uptick in West Africa mining as commodity prices improve

By: Ilan Solomons     20th October 2017 There have been a number of recent positive developments in West Africa’s mining industry, such as in Mali, where two new mines are scheduled to be commissioned by the end of this year. This is according to engineering and scientific consultancy SRK Consulting Ghana country manager John Kwofie,... 

General uptick in West Africa mining as commodity prices improve
Photo by SRK Consulting
JOHN KWOFIE SRK has been engaged in aspects of iron-ore projects in Cameroon, bauxite in Guinea and diamonds in Sierra Leone and Guinea in recent years

Remove exploration red tape or mining will die, geologist warns 

By: Martin Creamer     19th October 2017 The excessive red tape around minerals exploration must be removed to prevent the demise of South Africa’s vital mining industry, consulting exploration geologist Allan Saad said on Thursday. Saad, who spent 18 years in geological roles with mining major Rio Tinto and who formerly represented the... 

Remove exploration red tape or mining will die, geologist warns
Consulting exploration geologist Allan Saad outlines current exploration constraints to Mining Weekly Online’s Martin Creamer. Photographs: Christo Greyling. Video and Video Editing: Nicholas Boyd.

BHP's chairperson holds first annual meeting, plans to review board

By: Bloomberg     19th October 2017 In  Ken MacKenzie’s first annual shareholder meeting at BHP Billiton, he emphasised that while the company will listen to investors, it is the board that makes decisions. For most companies, that’s a pretty unremarkable statement, but it carries extra weight at BHP, which is under pressure by... 

BHP's chairperson holds first annual meeting, plans to review board
BHP chairperson Ken Mackenzie

Horizonte Minerals files mine construction licence for Araguaia project

By: Anine Kilian     19th October 2017 Aim- and TSX-listed Horizonte Minerals has completed and filed a mine construction licence application for its Brazil-based Araguaia nickel project, marking a major milestone for the project as it moves towards a decision on construction, said CEO Jeremy Martin in a statement released Thursday.... 

Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

Sandfire holds steady in September quarter

By: Esmarie Swanepoel     19th October 2017 Copper/gold miner Sandfire Resources has reported a slight decline in copper production for the three months to September, compared with the June quarter, following planned maintenance shutdowns at its DeGrussa mill, in Western Australia. Copper production for the quarter under review reached 15... 

Sheffield to spin-out gold and base metal assets

By: Esmarie Swanepoel     19th October 2017 Mineral sands developer Sheffield Resources has announced plans to demerge its gold and base metals assets into an ASX-listed company. The assets, which are currently held by subsidiary Carawine Resources, include the Jamieson gold-copper-silver-zinc project, in Victoria, and the Oakover and... 

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