R/€ = 14.69 Change: 0.14
R/$ = 11.98 Change: 0.04
Au 1310.55 $/oz Change: 1.77
Pt 944.00 $/oz Change: 2.00

Base Metals News

Freeport-McMoRan reinstates quarterly dividend

By: Henry Lazenby     7th February 2018 The world's largest publicly listed copper producer Freeport-McMoRan has reinstated a cash dividend of $0.05 on its common stock, citing an improved balance sheet, stronger market conditions and a positive outlook for cash flow generation. That would add up to a yearly dividend of $0.20 a share,... 

Barrick to book $429-million Q4 charge on mired Pascua-Lama

By: Henry Lazenby     7th February 2018 Major miner Barrick Gold expects to book a pre-tax impairment in the fourth quarter ended December 31 of about $429-million at its stalled Pascua-Lama copper/gold project, which straddles the border between Chile and Argentina. The NYSE- and TSX-listed company advised that it is reclassifying... 

US Army Corps of Engineers selects third-party contractor to complete Pebble EIA 

By: Henry Lazenby     6th February 2018 The TSX-listed equity of copper/gold project proponent Northern Dynasty Minerals gained about 11% on Tuesday, after the US Army Corps of Engineers (USACE) announced that it had appointed a third-party contractor to undertake an environmental-impact assessment for the controversial Pebble project,... 

US Army Corps of Engineers selects third-party contractor to complete Pebble EIA
Photo by Northern Dynasty Minerals
An environmental assessment is underway on Northern Dynsaty Minerals' Pebble low-grade copper/gold project, in South-West Alaska

Many big new copper mines likely to be needed – Anglo

By: Martin Creamer     6th February 2018 Based on two relatively moderate and reasonable growth assumptions, the world will need the equivalent of another 22 Collahuasi copper mines to meet expected copper demand by 2030, Anglo American base metals marketing head Alex Schmitt said on Tuesday. Collahuasi, which Schmitt described as the... 

Many big new copper mines likely to be needed – Anglo
Photo by Martin Creamer
Anglo American base metals marketing head Alex Schmitt

Investment poised to increase in Chile – central bank survey

By: Reuters     6th February 2018 Chile's economy is poised to improve by mid-year as rebounding copper prices and President-elect Sebastian Pinera's promise of business-friendly policies increase optimism among investors, according to a central bank survey released on Tuesday. The study, which surveyed the perceptions of more... 

Zambia sees 1.5Mt copper output on improved power, easing tensions

By: African News Agency      6th February 2018 Zambia expects to increase its annual copper output to 1.5-million tonnes, boosted by improved electricity supply and eased tensions with producers over policy, mines minister Christopher Yaluma said on Tuesday. "The outlook for Zambian mining looks very very positive," he told the African News... 

Anglo Asian plans higher production this year

By: Creamer Media Reporter      6th February 2018 Azerbaijan-focused gold, copper and silver miner Anglo Asian is forecasting higher production for 2018, on the back of last year’s optimisation initiatives at the Gedabek mine and the continuation of production from the Ugur openpit and Gadir underground mines. The Gedabek main openpit will also... 

Jubilee exercises 40% Kabwe option

By: Natasha Odendaal     6th February 2018 AltX- and Aim-listed Jubilee Metals Group intends to exercise its option to earn a 40% interest in BMR Group’s Kabwe lead/zinc project, in Zambia, after a comprehensive technical, financial and legal due diligence. This increases Jubilee’s effective interest in the Kabwe project to 57.41%,... 

Cape Lambert appoints consultant for Kipushi engineering review

By: Megan van Wyngaardt     6th February 2018 ASX-listed resource and investment company Cape Lambert has appointed South Africa-based engineering consulting firm GWCH Consulting to complete the detailed engineering review of the Kipushi copper processing plant in the Democratic Republic of Congo (DRC). The Kipushi operation is run by... 

US stocks sink most since 2011 as rout deepens: markets wrap

By: Bloomberg     6th February 2018 US stocks plunged the most in 6 1/2 years, with the Dow Jones Industrial Average sinking more than 1 100 points, as the equity selloff reached a fever pitch amid rising concern that inflation will force interest rates higher. Treasuries rallied and gold rose on haven demand. Volatility roared... 

US stocks sink most since 2011 as rout deepens: markets wrap

Centerra partially restarts Mt Milligan mill

By: Henry Lazenby     5th February 2018 Canadian midtier miner Centerra Gold has partially restarted its Mount Milligan operation, in British Columbia, after unexpectedly cold weather in December caused a water shortage, halting operations. Toronto-based Centerra said in a statement on Monday that the mill is using a single ball mill... 

Congo's Gecamines wants to revise contracts with mining partners

By: Reuters     5th February 2018 Democratic Republic of Congo's state mining company Gecamines said on Monday it wanted to renegotiate contracts with its international partners this year to give the state a bigger share of the revenues. Congo is Africa's biggest copper and cobalt producer and also mines gold and diamonds, but it... 

Maiden resource for Orion’s Prieska project

By: Anine Kilian     5th February 2018 The maiden mineral resource for dual-listed base metals company Orion Minerals’ Prieska zinc/copper project has exceeded expectations. The company on Monday announced a maiden mineral resource of 24.2-million tonnes, containing 873 655 t of zinc and 297 129 t of copper, for the Northern Cape... 

Weatherly buys additional 65% of Berg Aukas project

By: Simone Liedtke     5th February 2018 Aim-listed Weatherly International has entered into a binding agreement to increase its ownership of private Namibian company China Africa Resources Namibia (CARN) from 25% to 90%. CARN, which owns 100% of the high-grade Berg Aukas underground zinc/lead/vanadium project near Grootfontein, in... 

Heron awards port services contract for Woodlawn mine

By: Simone Liedtke     5th February 2018 Base metals firm Heron Resources has awarded the port services contract for its Woodlawn zinc/copper project, in New South Wales, to Australia-owned and -operated private company Port Kembla Gateway (PKG). The port services contract encompasses provision of receival, storage and ship loading... 

CoM sees resurgence in hope, green shoots in South African mining industry

By: Mia Breytenbach     5th February 2018 There is new sense of hope in the mining industry and in South Africa, says Chamber of Mines (CoM) CEO Roger Baxter. “It gives us a new confidence that a resurgence is taking place in the industry for the year ahead,” said Baxter, who spoke at a media briefing at the Investing in African Mining... 

CoM sees resurgence in hope, green shoots in South African mining industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter

Southern Copper closes lower on surprise loss

By: Henry Lazenby     2nd February 2018 Base metals miner Southern Copper has reported a surprise loss of $287.5-million in the fourth quarter ended December 31, saying a $743.3-million one-time payment related to US tax reforms weighed on its financial results. Excluding special items, the company would have reported earnings of... 

Centerra approves further funding for European JV partner on 2017 success; gets more credit

By: Henry Lazenby     2nd February 2018 Canadian miner Centerra Gold has approved expenditures of $1.85-million for this year to fund exploration campaigns in Sweden by its joint venture partner (JV) Erris Resources, following encouraging 2017 results. Results of the drill programmes undertaken in the second half of 2017 at the Klippen... 

Strong zinc output from Black Mountain, Skorpion – Vedanta

By: Martin Creamer     2nd February 2018 Diversified mining company Vedanta Resources said on Friday that its Vedanta Zinc International subsidiary had delivered strong zinc production at Black Mountain in the Northern Cape and at Skorpion in Namibia in the three months to the end of December, and that the $400-million Gamsberg zinc... 

Strong zinc output from Black Mountain, Skorpion – Vedanta
Photo by Creamer Media
Vedanta Zinc International CEO Deshnee Naidoo

Intrepid shareholders approve sale of Zambia project to Weatherly

By: Simone Liedtke     2nd February 2018 Shareholders of ASX-listed Intrepid Mines have voted in favour of Weatherly International's acquisition of the Kitumba copper project, in Zambia. The proposed A$4.75-million deal was announced in December. 

Assessments confirm integrity of main hoisting shaft at Prieska project

By: Simone Liedtke     2nd February 2018 Detailed visual and mechanical inspections of the barrel and steelwork of the Hutchings shaft at Orion Minerals' Prieska zinc/copper project, in the Northern Cape, have confirmed that the shaft steelwork and wall integrity have been well preserved. The shaft has been inoperable and submerged for... 

Goldman's most bullish on commodities since supercycle ended

By: Bloomberg     2nd February 2018 Goldman Sachs Group is more bullish on commodities than any time since the end of the supercycle in 2008. As economies around the world pick up, factories are humming, eating into stockpiles of raw materials and driving demand at miners and oil producers already facing limits on output. Copper,... 

Seabridge mulls mining Iron Cap deposit sooner

By: Henry Lazenby     2nd February 2018 Continuous successful exploration drilling over the past two years has prompted TSX- and NYSE-listed precious metals explorer Seabridge Gold to re-evaluate its approach to mining at the flagship Kerr, Mitchell and Sulphurets project (KSM), in north-western British Columbia. Based on the... 

Explorer changes name as it targets production of cobalt, other battery metals in DRC

By: Mia Breytenbach     2nd February 2018 Multicommodity exploration and development company Sula Iron & Gold, which has changed its name to African Battery Metals (ABM), will now focus on developing its cobalt exploration licences in the Democratic Republic of Congo (DRC). Trading in the company’s shares under its new name started last... 

Explorer changes name as it targets production of cobalt, other battery metals in DRC
ALLURING POTENTIAL African Battery Metals will continue to advance the Ferensola gold project in Sierra Leone

Aligning business, stakeholder expectations a lingering challenge

By: Nadine James     2nd February 2018 There is renewed impetus for the private sector to contribute to societal sustainable development and demonstrate impact, especially against the United Nations’ Sustainable Development Goals. However, aligning business and stakeholder expectations to create shared value remains a challenge, says... 

Important high-grade gold/copper intersection drilled at Orion's Prieska project

By: Simone Liedtke     1st February 2018 A thick, high-grade massive sulphide intersection with particularly high-grade copper, gold and silver mineralisation that was discovered at Orion Minerals' Prieska project, in the Northern Cape, provides encouragement for the discovery of further extensions to the already extensive... 

Thor to update DFS for NT tungsten project

By: Schalk Burger     1st February 2018 Aim- and ASX-listed Thor Mining on Thursday announced that it had approved an upgraded definitive feasibility study (DFS) for its Molyhil tungsten project, in Northern Territory, Australia. The company is preparing to review capital and operating expense parameters for the upgraded Molyhil DFS,... 

Analysts okay Glencore’s 2017 production downs

By: Martin Creamer     1st February 2018 Analysts on Thursday okayed last year’s production performance of diversified mining and marketing company Glencore, which on Thursday reported lower 2017 production for many commodities owing to the impact of disposals, maintenance work and weather. Barclays analysts Amos Fletcher, Ian Rossouw... 

Analysts okay Glencore’s 2017 production downs
Koniambo nickel mine, New Caledonia, where full-year production was 29% up

Kefi welcomes senior managers to executive committee

By: Megan van Wyngaardt     1st February 2018 Aim-listed gold and copper exploration and development company Kefi Minerals has expanded its senior management team as part of preparations for its development and operations. This includes the appointment of David Munro as head of operations, Eddy Solbrandt as head of systems and Brian Hosking... 

DRC to have biggest growth story in mining this year, despite risks - BMI

By: Megan van Wyngaardt     1st February 2018 Research firm BMI expects the Democratic Republic of Congo (DRC) to be the fastest-growing major mining market in the world this year. In its latest industry trend analysis, the firm outlined that this growth would be driven by rising prices of key commodities, which would improve mining... 

Orefinders works towards becoming battery metals company with new acquisition

By: Megan van Wyngaardt     1st February 2018 TSX-listed Orefinders Resources on Thursday said it was upbeat about its newly acquired 100%-owned Mann silver and cobalt mine, in the Cobalt-Gowganda District of Ontario, through which it plans to create a pure play battery metals public company. "The Mann Mines have high-grade silver and cobalt... 

Nevsun to invest up to $60m at Serbia project in 2018

By: Simone Liedtke     1st February 2018 New York Stock Exchange-listed Nevsun Resources will invest between $50-million and $60-million this year to advance its Timok Upper Zone copper/gold project, in Serbia. The company on Wednesday released its guidance for this year, with zinc production forecast to reach between 210-million and... 

Ivanhoe notes possible changes to DRC mining laws

By: Anine Kilian     1st February 2018 TSX-listed Ivanhoe Mines has taken note of proposed changes to the mining code in the Democratic Republic of Congo (DRC). Lawmakers in the DRC have reportedly voted in favour of new mining laws that lifts a provision which exempted licence holders from compliance with the new code for ten years. 

OceanaGold sets out production, capex plans for 2018

By: Mariaan Webb     1st February 2018 Australia-based OceanaGold on Thursday published its 2018 production guidance, stating that its four mines in the Philippines, New Zealand and the US would produce between 480 000 oz and 530 000 oz of gold and 15 000 t to 16 000 t of copper. The Didipio and Waihi mines, in the Philippines and... 

OceanaGold sets out production, capex plans for 2018
The Waihi mine on New Zealand's North Island.

Katanga gaining traction at KOV mine in DRC

By: Megan van Wyngaardt     1st February 2018 TSX-listed Katanga Mining mined 433 169 t of ore, at an average grade of 2.18%, to produce 9 459 t of copper, at its KOV mine, in the Democratic Republic of Congo (DRC), during the fourth quarter of 2017. In 2016, ore mined at KOV reached 825 t and was related to incidental ore mined during waste... 

Orvana appoints interim CEO

By: Anine Kilian     1st February 2018 Gold and copper miner Orvana Minerals Corp has appointed Juan Gavidia as interim CEO, effective immediately. He will succeed chairperson and CEO James Gilbert, who has resigned. 

Independence to cease mining at Long nickel mine in May

By: Mariaan Webb     1st February 2018 The Long nickel mine, near Kambalda, Western Australia, is set for closure this year, Independence Group announced in its December quarter results. Mining will cease on May 31, after which the underground mine will enter care and maintenance. The Long mine produced 1 374 t of contained nickel and... 

Testwork at Orion's Prieska project sets stage for next phase

By: Megan van Wyngaardt     31st January 2018 JSE-listed minerals explorer Orion Minerals on Wednesday said detailed metallurgical test work will be conducted at its Prieska zinc/copper project, using 1 583 kg of diamond drill core samples obtained from mineralised intersections in 21 holes drilled across the mineralised zones of the deposit... 

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