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

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Platina finds site for Owendale plant

By: Esmarie Swanepoel     12th July 2018 ASX-listed Platina Resources has signed a lease for the site of its proposed Owendale scandium processing facility, in New South Wales. The site, a former abattoir, is some 70 km from the mine site and has road system capable of handling the trucks that will be used to transport ore from the... 

Superior Lake fast-tracks mine restart

By: Esmarie Swanepoel     12th July 2018 Junior base metals developer Superior Lake Resources has announced plans to fast-track the restart of its Superior Lake metals project, in Canada. The ASX-listed company said that following the completion of a maiden Joint Ore Reserves Committee compliant resource of 2.1-million tonnes, grading... 

New Century sets August start date

By: Esmarie Swanepoel     12th July 2018 The Century zinc mine, in Queensland, is on track to start production in August this year, ASX-listed New Century Resources said on Thursday. The company has completed the commissioning of the slurry concentrate pipeline, which is now filled and ready to receive first concentrate. 

BHP makes contract offer to union at Escondida mine in Chile

By: Reuters     12th July 2018 BHP Billiton handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23 000 bonus per worker, the company said on Wednesday. The offer falls short of fulfilling some of the demands laid out... 

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Indonesia reaches preliminary deal with Freeport on Grasberg

Barrick trims copper guidance, gold forecast intact

By: Mariaan Webb     12th July 2018 Toronto, Canada-headquartered Barrick Gold has maintained its gold production guidance for 2018 at between 4.5-million and 5-million ounces, but has slashed 40-million pounds off its copper production guidance, owing to operational challenges at its biggest copper mine – Lumwana, in Zambia. The... 

Barrick trims copper guidance, gold forecast intact
The Lumwana copper mine in Zambia.

Copper slides to 1-year low, zinc sinks in broad selloff

By: Reuters     11th July 2018 Copper prices slumped to their weakest level in a year and zinc fell to 13-month lows amid a broad selloff on Wednesday after the Trump administration said it would slap 10 percent tariffs on an extra $200-billion worth of Chinese imports. US President Donald Trump’s latest tariff threat... 

Trump started the metals rally, now he's the reason it's ending

By: Bloomberg     11th July 2018 The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper sunk to an almost one-year low and has fallen 16%... 

Trump started the metals rally, now he's the reason it's ending

Serbian copper miner attracts 11 possible buyers – report

By: Reuters     11th July 2018 Serbia's RTB Bor copper miner and smelter has drawn interest from 11 companies and the tender could take place this week or next, Belgrade daily Politika reported on Wednesday. Serbia has tried and failed three times since 2007 to sell the debt-laden mining complex, which suffered a long period... 

Arc lifts Zamsort stake to 66%

By: Creamer Media Reporter      11th July 2018 Aim-listed Arc Minerals has acquired a further 5% interest in Zamsort, the operator of the Kalaba copper/cobalt project, in Zambia. It now owns 66% of Zamsort, with the other 34% interest held by Kopara Investments. 

Collerina raises cash for alumina push

By: Esmarie Swanepoel     11th July 2018 ASX-listed Collerina Cobalt will raise some A$4-million through a one-for-ten rights issue, priced at 8c each. The company said the funds raised will advance the high purity alumina (HPA) First process, at its Collerina project in New South Wales. 

Pace change at Collerina Cobalt's NSW project

By: Esmarie Swanepoel     10th July 2018 ASX-listed Collerina Cobalt has placed plans for a nickel/cobalt project at its Collerina deposit, in New South Wales, on hold in lieu of a high purity alumina (HPA) project. The company this week told shareholders that prefeasibility study (PFS) testwork at the Collerina project has identified a... 

Kalahari Metals, Metal Tiger start exploration programme in Botswana

By: Marleny Arnoldi     10th July 2018 Aim-listed resources investor Metal Tiger announced on Tuesday an exploration programme at Kalahari Metals’ (KML’s) projects in the Kalahari copperbelt, in Botswana, has started and is aimed at identifying copper/gold mineralisation.  

White Rock and Sandfire strike Alaska base metals deal

By: Esmarie Swanepoel     10th July 2018 Copper miner Sandfire Resources has struck a deal with fellow listed White Rock Minerals to form a strategic relationship in relation to White Rocks’ Red Mountain zinc project, in Alaska. Sandfire will subscribe for A$2.5-million shares in White Rock, and will be issued more than 208.3-million... 

Katanga appoints new COO

By: Simone Liedtke     9th July 2018 TSX-listed Katanga Mining, which is a subsidiary of diversified miner Glencore, has appointed Samuel Rasmussen COO. Rasmussen, who holds a BSc in Chemical Engineering and Petroleum Refining from the Colorado School of Mines, has copper processing and mining experience in large-scale openpit and... 

Denham Capital closes Mining Fund at $558m

By: Marleny Arnoldi     9th July 2018 Resource and energy-focused global private equity firm Denham Capital has closed its first standalone mining fund, the Denham Mining Fund, at $558-million to expand its portfolio in Australia, Canada, South America and Africa.  

CITIC Metal gets internal green light to buy 19.5% stake in Ivanhoe

By: Marleny Arnoldi     9th July 2018 China State-owned investment company CITIC’s subsidiary CITIC Metal has completed its confirmatory due diligence and has received the necessary internal approvals to complete the long-term, strategic cooperation and investment agreement with TSX-listed Ivanhoe Mines.  

PEA supports staged expansion of Sierra Metals’ Bolivar mine

By: Marleny Arnoldi     9th July 2018 Hot on the heels of a positive preliminary economic assessment (PEA) for the expansion of its Yauricocha base and precious metals mine, in Peru, Toronto-based Sierra Metals on Monday announced the outcomes of its PEA for the expansion at the Bolivar mine, in Mexico.  

Metal Tiger, partner log significant visible copper sulphides at Botswana project

By: Simone Liedtke     9th July 2018 Significant visible copper sulphides have been logged in hole MO-A4-003D as part of the latest diamond drill hole testing at the A4 dome at Aim-listed Metal Tiger’s joint venture (JV) project with partner MOD Resources in the Kalahari copperbelt, in Botswana. The strong visible copper... 

Shareholders approve Canadian Zinc reorganisation

By: Simone Liedtke     9th July 2018 TSX-listed Canadian Zinc has received shareholder approval for the reorganisation of the company to complete financing for the construction of its flagship Prairie Creek project, in the Northwest Territories. The restructure, which was first announced in May and approved at an annual general... 

Oz closes Avanco offer

By: Esmarie Swanepoel     9th July 2018 ASX-listed Oz Minerals has closed its takeover for fellow listed Avanco Resources, with a 97.7% interest. The company previously started the compulsory acquisition process for the remaining Avanco shares after gaining a 90.46% interest in the takeover target. 

Independence’s Nova falls short of FY production guidance, Tropicana on target

By: Esmarie Swanepoel     9th July 2018 Preliminary metal production estimates from miner Independence Group has found that the Nova nickel mine, in Western Australia, has failed to meet its full year production target. ASX-listed Independence on Monday told shareholders that nickel production for the three months to June was up 23%... 

Chilean miner Mantos Copper seeks buyer to help finance expansion

By: Reuters     6th July 2018 Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said. The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought... 

Mining starts at Macy

By: Esmarie Swanepoel     6th July 2018 Base metals developer Symbol Mining has started mining at its Macy high-grade zinc project, in Nigeria, after receiving final approval for its mining lease. The company on Friday said that the mining lease and environmental protection and rehabilitation plan approvals concluded several months of... 

Tiger cancels sale of Kipoi to Chinese firm

By: Esmarie Swanepoel     6th July 2018 Copper miner Tiger Resources has pulled the plug on the divestment of its assets in the Democratic Republic of Congo (DRC) to a Chinese consortium. Tiger in January announced that it would sell its Kipoi mine and other assets in the DRC to special purpose vehicle Sinomine Fuhai (Hong Kong)... 

Tiger cancels sale of Kipoi to Chinese firm

Copper's collapse tops $1 000 as Trump picks a fight with China

By: Bloomberg     6th July 2018 Copper’s flashing a powerful warning about expectations for economic growth after US President Donald Trump chose to embark on a major escalation of his administration’s global trade war, imposing tariffs on $34-billion of imports from China, which vowed to respond in kind. The metal has lost... 

Copper's collapse tops $1 000 as Trump picks a fight with China

BHP, workers at Escondida mine in Chile 'far from agreement'

By: Reuters     6th July 2018 Negotiations between workers and BHP Billiton at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters on Thursday. The official, Carlos Allendes, said the union... 

ICMM welcomes two South American miners

By: Jessica Oosthuizen     6th July 2018 Two South American mining companies, Minera San Cristóbal and Minsur, have joined the International Council on Mining and Metals (ICMM). ICMM CEO Tom Butler notes that both companies have earned their membership of ICMM by complying with the council’s “rigorous” admission procedure, adding that... 

ICMM welcomes two South American miners
TOM BUTLER Both Minera San Cristóbal and Minsur have shown real leadership in their environmental and social performance and have valuable experience to share

First-quarter global copper production up 7.1%

By: Nadine James     6th July 2018 Global mined copper production is estimated to have increased by 7.1% in the first quarter of 2018, with concentrate production rising by 7% and solvent extraction-electrowinning (SX-EW) by 7.3%, the International Copper Study Group (ICSG) reported in its Copper Bulletin, last month. The ICSG... 

Junior miners against Mining Charter III, claim they haven’t benefited from previous iterations

By: Nadine James     6th July 2018 SRK Consulting principal geologist and partner Mark Wanless has suggested that despite government’s stated intention of nurturing a junior mining sector, feedback from last month’s Junior Mining Indaba demonstrated that this commitment has yet to be met.  “There is a strong sentiment among junior... 

Junior miners against Mining Charter III, claim  they haven’t benefited from previous iterations
MARK WANLESS There is a strong sentiment among junior mining companies that they are marginalised and excluded from the action,

Company expands South American service offering

By: Jessica Oosthuizen     6th July 2018 As part of its coordinated international strategy, minerals processing specialist Multotec is establishing a joint venture (JV) in Belo Horizonte, Brazil, which will enhance its presence in the South American region, says Multotec screening media VP Roy Roche. He tells Mining Weekly that the... 

Company expands South American service offering
PRODUCT STRATEGY Multotec is following a five-product strategy focussed on screening media, cyclones, samplers, spirals and ceramic linings in its targeting of South America

Vedanta starts commissioning activities at Gamsberg

By: Simone Liedtke     5th July 2018 Diversified mining company Vedanta Resources’ subsidiary Vedanta Zinc International (VZI) has started commissioning activities at its Gamsberg project, a greenfield mining project in the Northern Cape. Waste pre-stripping was completed by the end of June and ore production has started. 

First Quantum given time to solve $7.9bn Zambian tax row

By: Bloomberg     5th July 2018 Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister. The Vancouver-based company is challenging the assessment from Zambia’s... 

Centerra warns water shortage may slow Mt Milligan throughput in Q4

By: Mariaan Webb     5th July 2018 Toronto-headquartered Centerra Gold on Thursday warned that it might have to reduce the throughput level of its Mount Milligan operation, as the company continues to face water risks at the British Columbia mine. Centerra has applied for permits to access further groundwater and surface water,... 

Centerra warns water shortage may slow Mt Milligan throughput in Q4

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Latest News


Latest Videos


Press Office


Topics In These Articles

RSS Feed


Mining Weekly is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now