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

Harmony Gold shows off growing portfolio quality in Denver

By: Martin Creamer     26th September 2018 Harmony Gold’s Moab Khotsong mine in South Africa and Hidden Valley mine in Papua New Guinea will together produce a third of the guided 1.5-million ounces in the 12 months to end June, with the projected 500 000 oz from these two operations being produced at an all-in sustaining cost of $950/oz,... 

Nickel Creek says Yukon project needs higher prices for development

By: Mariaan Webb     26th September 2018 Project developer Nickel Creek Platinum lost a third of its value on the TSX on Tuesday after the company announced that its flagship project in Yukon would not be advanced until prices strengthened and nickel settled in the range of $9/lb to $11/lb. Shares fell by as much as 44%, before closing... 

First Quantum falls as Panama court casts uncertainty on project

By: Bloomberg     26th September 2018 Canadian miner First Quantum Minerals headed for a one-week low after a ruling by Panama’s Supreme Court cast uncertainty over a major copper mine it’s developing in the central American country. Local media in Panama reported that the court ruled on Monday that Law 9 – used to approve a mining... 

Union says meeting with Alcoa again over strike at Australian aluminium project

By: Reuters     26th September 2018 The union at Alcoa's aluminium operations in the state of Western Australia said it was meeting with the company again on Wednesday to try to resolve a strike that has lasted more than six weeks, after the firm last week revised an earlier offer. Unionised workers at two alumina refineries and... 

Sibanye reaches significant milestones in transaction with Regulus

By: Simone Liedtke     25th September 2018 JSE- and NYSE-listed Sibanye-Stillwater has reached significant milestones in its arrangement agreement with Regulus Resources and a newly-formed Regulus subsidiary, Aldebaran Resources, to unlock value at the Altar copper/gold project, in Argentina. Sibanye in June entered into the agreement... 

Heron marks Woodlawn milestone

By: Creamer Media Reporter      25th September 2018 Base metals firm Heron Resources on Tuesday reported a significant milestone in the project development schedule of the Woodlawn zinc/copper project, in New South Wales, announcing that Pybar Mining has started underground activities. The company has a four-year underground mining contract with... 

Barrick and Shandong announce $300m cross investment

By: Creamer Media Reporter      25th September 2018 Gold major Barrick Gold, which on Monday announced a $18.5-billion merger with Randgold Resources, has reached a cross investment agreement with China’s Shandong Gold, which executive chairperson John Thornton said further deepened the partnership between the two companies. Under the agreement,... 

Luminex says Anglo American to earn into Ecuador project

By: Creamer Media Reporter      25th September 2018 Diversified miner Anglo American has signed a formal earn-in and joint venture agreement with Vancouver-based Luminex Resources, relating to Pegasus A, Pegasus B and Luz concessions in Ecuador. The agreement gives Anglo the right to earn a 60% ownership interest in a JV company indirectly... 

Barrick's Randgold acquisition may spur more gold mining deals

By: Bloomberg     25th September 2018 Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different. 

Barrick's Randgold acquisition may spur more gold mining deals
Mark Bristow says there are Australian investors interested in Barrick's Kalgoorlie mine.

Kalgoorlie nickel smelter shut after fire

By: Reuters     24th September 2018 HP Billiton said on Monday its Kalgoorlie nickel smelter has been closed after a fire that broke out over the weekend and the plant will remain shut while it assesses the damage. The fire had been put out, there were no injuries and efforts would focus on returning the plant to normal... 

Mongolian court says copper mine nationalisation broke laws

By: Reuters     21st September 2018 The Mongolian government broke laws during a controversial attempt to seize full control over the Erdenet copper mine, a local court said on Thursday, the latest ruling in a long-running ownership dispute over one of Asia's biggest deposits. The Mongolian Copper Corporation (MCC) has been... 

Taskforce outcomes to set basis of Australia’s first resources plan in 20 years

By: Nadine James     21st September 2018 Minister for Resources and Northern Australia Matt Canavan on Friday welcomed a report by the federal government’s Resources 2030 Taskforce, which he convened in March to ensure that the Australian resource sector remains globally competitive and sustainable The Minister will use the work of the... 

Taskforce outcomes to set basis of Australia’s first resources plan in 20 years
Resources and Northern Australia Minister Matt Canavan

US sanctions driving Russian billionaires into Putin’s arms

By: Bloomberg     21st September 2018 The Trump administration is helping Vladimir Putin achieve a goal that’s eluded him for almost two decades—getting Russia’s billionaires to start repatriating some of their assets. Relatively muted sanctions imposed during the Obama era over the conflict in Ukraine have only widened in scope and... 

US sanctions driving Russian billionaires into Putin’s arms

Australian miners spearheading disruptive technology movement – Fitch

By: Nadine James     21st September 2018 Australia’s strong information communications technology and energy infrastructure, highly skilled labour force and government support ensures that its miners will continue to be the frontrunners in implementing technology to cut costs, enhance efficiency and increase mine safety, the latest... 

Release of Odysseus DFS delayed by one month

By: Mariaan Webb     21st September 2018 Western Areas has reported a minor delay in the release of its definitive feasibility study (DFS) for the Odysseus nickel sulphide project, in Western Australia, citing an unplanned late receipt of certain key data. The company said that the DFS release date has been moved to the end of October,... 

Poseidon signs Black Swan ore tolling agreements

By: Mariaan Webb     21st September 2018 Base metals firm Poseidon Nickel has found two potential sources of third-party feed for its Black Swan concentrator, which the company is touting as an alternative processing facility for stranded nickel miners following the closure of BHP Billiton’s Nickel West Kambalda concentrator. Private... 

Centaurus resumes Salobo West licensing process

By: Mariaan Webb     21st September 2018 ASX-listed Centaurus Metals will resume the environmental licencing process for its maiden drilling programme at the Salobo West copper/gold project, in Brazil, after an earlier decision to deny the company a drilling and clearing licence was overturned. The key environmental agency responsible... 

Ramaphosa moves to revitalise mining, create certainty

By: Martin Creamer     21st September 2018 It is imperative that South Africa restores investment and exploration levels in the mining sector as mining and mineral beneficiation activities have significant potential to drive long term growth, exports and job growth, President Cyril Ramaphosa said in his economic stimulus and recovery plan... 

Ramaphosa moves to revitalise mining, create certainty
President Cyril Ramaphosa

South32's Cerro Matoso mine wins appeal, will not pay damages

By: Reuters     21st September 2018 Colombia's Cerro Matoso nickel mine, owned by Australian miner South32, will not be required to pay damages to indigenous and Afro-Colombian communities after winning an appeal in Colombia's constitutional court, a court spokesperson said on Thursday. The court had previously ruled that waste... 

South32's Cerro Matoso mine wins appeal, will not pay damages
Cerro Matoso

BHP's Spence copper mine in Chile partially closed following fire

By: Reuters     21st September 2018 Global miner BHP Billiton said on Thursday that a fire at its Spence copper mine in Chile had forced it to partially shut down operations. No one was injured in the fire, which has since been extinguished, the company said. 

Goldman backs commodities as trade war fury now met with shrugs

By: Bloomberg     21st September 2018 Commodity bull Goldman Sachs Group says raw materials are poised to gain into the end of the year as investors have now become used to trade-war tensions, growth in top economies remains strong, and consumers who’d put off purchases in recent months start buying again. Copper jumped. “This week... 

Versatile spin filters extend machinery, equipment life

By: Nadine James     21st September 2018 A compressor exposed to abrasive dust, such as those used in mining environments, could become increasingly inefficient and fail internal damage caused by clogged and compromised intake filters, notes RTS Africa Engineering MD Ian Fraser. Additionally, opencast mine dust frequently enters... 

Versatile spin filters extend machinery, equipment life
IAN FRASER Mining companies use spin filtration for effective dust extraction from compressors' air intake filters and for direct ventilation of variable speed drives

New products can improve safety, productivity

By: Nadine James     21st September 2018 Bidvest Commercial Products division Kelmeg Lifting Services (KLS) has expanded its service offering – aimed at improving safety and productivity, particularly with regard to working at height, and the associated lifting, rigging or lashing requirements. The new safety-focused products can assist... 

New products can improve safety, productivity
Photo by Creamer Media
RODNEY YOUNG Innovation is a pivotal focal point and Kelmeg invests considerably into research and development, every year

Manufacturer ready to commission plant

By: Donald Makhafola     21st September 2018 Fuel cell components manufacturer Isondo Precious Metals (IPM) hopes to commission its platinum-containing membrane electrode assembly (MEA) manufacturing plant in the upcoming months, pending the finalisation of the balance of funding. The state-of-the-art MEA manufacturing technology plant from... 

Manufacturer ready to commission plant
Photo by Creamer Media
VINAY SOMERA Our intention is to prove the business case that South Africa can produce the best-quality components for the fuel cell using platinum-group metals

Consolidated Zinc ships first ore from Plomosas

By: Creamer Media Reporter      20th September 2018 The first shipment of ore has left the Plomosas zinc/lead/silver project for processing at Grupo Mexico’s Santa Eulalia plant, ASX-listed Consolidated Zinc reported on Thursday. The company said it would deliver about 100 t/d to the concentrator for the rest of the month, where after it would... 

Axiom fully permitted for Isabel nickel project

By: Mariaan Webb     20th September 2018 Solomon Islands has formally granted Axiom Mining a lease over the San Jorge nickel deposit, paving the way for the ASX-listed company to start construction of the Isabel mine – one of the last known undeveloped world-class nickel laterite deposits. The news sent Axiom’s stock surging 44% to... 

Doray ‘firmly on path’ to 100 000 oz/y goal

By: Mariaan Webb     20th September 2018 The upgrade of Doray Minerals’ resource for the high-grade Da Vinci gold discovery in the Deflector gold/copper mine has set the company “firmly on the path” to reaching its ‘target 1-5-1’ strategic goal of producing 100 000 oz/y of gold, over a minimum of five years and at an all-in sustaining... 

With copper options, China steps up challenge to London, New York rivals

By: Reuters     20th September 2018 The Shanghai Futures Exchange (ShFE) will launch copper options trading on Friday, aiming to take a slice of a $270 billion global market in one of its biggest challenges yet to London and New York rivals. The product, which follows the launch of sugar and soymeal options last year, comes as... 

Anglo Asian declares first dividend, reports strong H1 results

By: Simone Liedtke     19th September 2018 Aim-listed Anglo Asian has declared a maiden interim dividend, following the company’s move into a net cash position subsequent to June 30. The gold and copper miner, which operates in Azerbaijan, would pay a 3c a share dividend, it said on Wednesday, releasing a strong set of half-year results. 

CITIC completes $556m equity deal with Ivanhoe

By: Marleny Arnoldi     19th September 2018 CITIC Metal Africa Investments, which is a subsidiary of CITIC Metal, has completed a major strategic equity investment of C$723-million, or $556-million, in TSX-listed Ivanhoe Mines. The investment was initiated by CITIC Metal in June.  

OceanaGold reports no operational impact from recent storms

By: Mariaan Webb     19th September 2018 Multinational OceanaGold’s Didipio operation, in the Philippines and the Haile mine, in the US, have managed to pull through the past weekend’s severe storms in the respective regions without reporting any injuries or a significant impact to production. In the Philippines, where super typhoon... 

Trevali refinances credit facility

By: Creamer Media Reporter      19th September 2018 Zinc miner Trevali has refinanced its credit facility and managed to secure an improved pricing, which should save the miner up to $5-million over a four-year term, it announced on Wednesday. Trevali entered into an amended and restated credit agreement with a syndicate of lenders for a... 

Central Asia Metals hunts for acquisitions

By: Reuters     19th September 2018 Base metals producer Central Asia Metals (CAML) on Wednesday reported a more than doubling in first-half revenue and profits following the acquisition of a mine in Macedonia and said it was actively looking for new opportunities to expand. Aim-listed CAML bought the Sasa zinc and lead mine in... 

Central Asia Metals hunts for acquisitions
The Sasa mine in Macedonia.

Activities restart at New Century’s port facility

By: Creamer Media Reporter      19th September 2018 Queensland miner New Century Resources has started stockpiling zinc concentrate in its 80 000 t storage shed at the Karumba port, paving the way for exports to start and first revenue to be received this month. “The successful refurbishment and restart of activities at New Century’s port... 

Metminco buys Solomon Islands nickel project, to delist from Aim

By: Mariaan Webb     19th September 2018 Share trading in Metminco resumed on the ASX on Wednesday as the miner announced the acquisition of the Jejevo nickel project, in the Solomon Islands, giving it exposure to the nickel market at a time of rising demand from the battery market. Metminco will buy Sunshine Metals in a scrip... 

Metminco buys Solomon Islands nickel project, to delist from Aim

Struggling Aldridge agrees to be bought by Virtus Mining

By: Mariaan Webb     19th September 2018 Troubled Turkey-focused junior Aldridge Minerals has agreed to be bought by Virtus Mining – a development-stage mining company in which Aldridge director Ahmet Taçyildiz will indirectly hold 70%. Virtus will acquire all the issued and outstanding common shares of Aldridge for C$0.10 in cash,... 

Eldorado claims €750m from Greek State over permit delays

By: Marleny Arnoldi     18th September 2018 Gold and base metals producer Eldorado Gold’s Greek subsidiary Hellas Gold has filed an application for payment with the Hellenic Republic, requesting about €750-million for damages suffered by the company, arising from delays in the issuance of permits for the Skouries project, in northern... 

Eldorado claims €750m from Greek State over permit delays

UK tax authority confirms Erris Resources EIS status

By: Marleny Arnoldi     18th September 2018 Aim-listed Erris Resources’ enterprise investment scheme (EIS) status has been confirmed by the UK tax authority. The EIS is a series of UK tax reliefs launched in 1994 in succession to the business expansion scheme. It is designed to encourage investments in small unquoted companies carrying on... 

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