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

Emirates Global Aluminium signs bauxite supply contract with Vedanta

By: Marleny Arnoldi     4th July 2018 Industrial company Emirates Global Aluminium (EGA) has signed an agreement to supply metals miner Vedanta Limited with bauxite from its mining operation in Guinea from 2019.  

Drilling resumes at Oldcastle zinc project in Ireland

By: Creamer Media Reporter      4th July 2018 A new drill programme at the Oldcastle zinc project, in Cavan and Meath, Ireland, has been launched, with about 1 800 m of drilling planned, gold and zinc explorer Connemara reported on Wednesday. The Oldcastle project is a joint venture between Connemara and Teck Resources subsidiary Teck... 

NGEx to fast-track study on Josemaria

By: Mariaan Webb     4th July 2018 Canadian mining company NGEx has announced that it will conduct a prefeasibility study (PFS) on the Josemaría copper project, in San Juan, Argentina, evaluating the potential to develop an openpit mine and process plant. The deposit is currently part of the company’s Project Constellation... 

Oposura gets 2.9mt initial resource

By: Esmarie Swanepoel     4th July 2018 ASX-listed Azure Minerals has reported an initial resource of 2.9-million tonnes, grading 5% zinc and 2.8% lead at its Oposura zinc/lead/silver project, in Mexico. The company told shareholders that 75% of the contained metal was within the indicated mineral resource category, with the resource... 

US probe darkens Glencore's horizons from Africa to Americas

By: Bloomberg     4th July 2018 The US corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world’s largest commodity trader and its billionaire CEO Ivan Glasenberg. The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss... 

Cradle Arc disposes of Burkina Faso subsidiary owing to deteriorating security

By: Simone Liedtke     4th July 2018 Africa-focused base and precious metals exploration and production company Cradle Arc has disposed of its operating subsidiary Société Miniére de Kerboulé (SMK), in Burkina Faso, which holds the wholly-owned exploration licences of Arae and Gassel-Manere, together comprising the Kerboulé gold... 

Indonesia extends permit for giant Freeport copper mine as talks continue

By: Reuters     4th July 2018 Indonesia has extended a temporary operating permit for Freeport McMoRan's Grasberg project, the world's second-biggest copper mine, until the end of the month while discussions continue over long-term rights. Freeport's local unit, PT Freeport Indonesia (PTFI), has been given a temporary... 

Indonesia extends permit for giant Freeport copper mine as talks continue
The Grasberg mine, in Indonesia.

Anil Agarwal faces shareholder resistance to $1bn Vedanta bid

By: Reuters     4th July 2018 Billionaire Anil Agarwal faces investor resistance to his $1-billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private. Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were... 

Anil Agarwal faces shareholder resistance to $1bn Vedanta bid
Anil Agarwal

Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

By: Simone Liedtke     3rd July 2018 China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China... 

Weatherly appoints new Ongopolo mining CEO

By: Simone Liedtke     3rd July 2018 Aim-listed copper miner Weatherly International has appointed John Sisay CEO of Ongopolo Mining – its 97.5%-owned subsidiary which holds the mining licences for the Tschudi mine and the Otjihase project. He has also been appointed to the boards of a number of other Weatherly subsidiaries. 

Orion surveys confirm nickel, copper potential in Areachap Belt

By: Marleny Arnoldi     3rd July 2018 ASX- and JSE-listed Orion Minerals has reported positive initial fixed-loop electromagnetic survey results over nickel and copper targets on the Disawell prospecting right, in the Areachap Belt, in South Africa’s Northern Cape province.  

Alara awarded first mining licence in Oman since 2004

By: Simone Liedtke     3rd July 2018 The awarding of the first mining licence in 14 years in Oman marks a new chapter for copper mining in the Sultanate, Mineral Investment Affairs director-general Dr Salim Al Mahrougi has said. According to Australian junior Alara Resources, Al Mahroughi said at an event marking the official launch... 

Havilah moves closer to closure of Portia sale

By: Simone Liedtke     3rd July 2018 South Australian copper junior Havilah Resources on Tuesday said that the transaction to divest North Portia was expected to close within the next two weeks, despite delays experienced with the completion of the required documentation and approvals. The transaction to divest North Portia is... 

Metro Mining ups Bauxite Hills mining rate

By: Marleny Arnoldi     3rd July 2018 ASX-listed bauxite miner Metro Mining on Tuesday reported an average mining rate of 8 167 wet metric tonnes (wmt) a day for June, which compares with May’s mining rate of 5 194 wmt/d and April’s 2 768 wmt/d.  

Rox exercises option over strategic gold and nickel tenements

By: Simone Liedtke     3rd July 2018 ASX-listed junior Rox Resources has exercised an option to purchase two tenements at its Fisher East nickel and Mt Fisher gold projects, in Western Australia. Under the terms of the option, the exercise price is $600 000 in cash. 

Congo court suspends hearing on Glencore-owned cobalt mine

By: Bloomberg     2nd July 2018 A court in the Democratic Republic of Congo suspended a hearing about a lawsuit brought by a former shareholder of a Glencore-owned cobalt and copper mine. The case was put on hold pending a decision by the country’s Court of Appeal on whether the High Court should have jurisdiction over the... 

Construction of Jubilee’s Kabwe zinc recovery circuit under way

By: Marleny Arnoldi     2nd July 2018 Johannesburg- and London-listed Jubilee Metals said on Monday that construction of the zinc recovery circuit at its Kabwe project, in Zambia, was under way, while development work around testing of the lead and vanadium circuit design parameters continued. “Our process development teams have... 

Poland's copper producer KGHM ends maintenance at Glogow smelter

By: Bloomberg     2nd July 2018 Poland's KGHM, one of the world's biggest copper and silver producers, has finished a two-and-a-half month maintenance at its copper smelter in Glogow, the company said on Monday. "Production restarted eight days earlier than envisaged in the initial assumptions," KGHM said in a statement. 

Commodity powerhouse warns of risks to growth from trade war

By: Bloomberg     2nd July 2018 Commodity powerhouse Australia delivered a double-barreled warning that rising trade protectionism will hurt global growth, adding its voice to a chorus of alarm just days before the US and China slap duties on each other, risking a spiral of tit-for-tat tariffs. “Trade tensions between the US... 

Commodity powerhouse warns of risks to growth from trade war

MOD reports 44% increase in T3 resource

By: Esmarie Swanepoel     2nd July 2018 Copper explorer MOD Resources has reported a 44% increase in the T3 mineral resource, in Botswana, following recent exploration at the planned pit. The mineral resource at T3 is now estimated at 60-million tonnes, grading 0.98% copper and 14 g/t silver, for 590 000 t of copper and 27-million... 

Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine

By: Reuters     1st July 2018 Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia's eastern-most province of Papua, Grasberg, the world's... 

Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine
The Grasberg mine in Indonesia.

Orion issues shares to its BEE partner

By: Marleny Arnoldi     29th June 2018 ASX- and JSE-listed Orion Minerals has issued additional shares to its South African black economic empowerment (BEE) partner to the value of $250 000.  

Sibanye enters into strategic exploration partnership to unlock value in Argentina

By: Nadine James     29th June 2018 Precious metals miner Sibanye-Stillwater has entered into an agreement with TSX-listed Regulus Resources, and its newly formed subsidiary Aldebaran Resources, to create a strategic partnership to unlock value at the Altar copper/gold project, in San Juan province, Argentina. Under the terms of... 

Sibanye enters into strategic exploration partnership to unlock value in Argentina
Photo by Creamer Media
Sibanye CEO Neal Froneman

Commodities face a twin threat, Morgan Stanley says

By: Bloomberg     29th June 2018 Commodities face a twin threat in the coming months, according to Morgan Stanley, which flagged burgeoning risks to consumption from a potential escalation in global trade tensions, especially for metals, as well as any slowdown in China. “Escalating global trade tensions bring a risk of demand... 

New offtake agreement brings Savannah restart one step closer

By: Esmarie Swanepoel     29th June 2018 Base metals company Panoramic Resources has inked a new four-year concentrate sales agreement for all of the concentrate to be produced at its Savannah nickel/copper/cobalt project, in Western Australia. The offtake agreement with Sino Nickel, a joint venture between Chinese firm Jinchuan and... 

Sierra Metals plans 66% production expansion at Peru mine

By: Mariaan Webb     29th June 2018 Toronto-based Sierra Metals has delivered a preliminary economic assessment (PEA) for a 66% production expansion at its Yauricocha base and precious metals mine, in Peru. The production expansion will expand the Yauricocha mine through stages from its current 3 000 t/d to 3 600 t/d in the first... 

Amur updates Kun-Manie estimates

By: Mariaan Webb     28th June 2018 London-listed nickel/copper-sulphide mineral explorer Amur Minerals on Thursday provided a mining potential update for its Kun-Manie project, in Russia’s Far East, focusing on the Ikenskoe/Sobolevsky (IKEN) and Kubuk (KUB) deposits. The update follows the 2017 drilling programme, which... 

Canada rejects proposed Ajax gold mine in British Columbia

By: Reuters     28th June 2018 The Canadian government said on Wednesday it had rejected the proposed Ajax openpit gold and copper mine in the Pacific province of British Columbia, citing what it said were significant adverse environmental effects. The plan to develop the site had been put forward by KGHM International, a... 

Mining investors spooked as African dispute payments multiply

By: Bloomberg     28th June 2018 Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. A $150-million payment by Glencore’s Katanga Mining to the Democratic Republic of Congo’s Gecamines earlier this month followed Freeport McMoRan’s separate... 

Alara expects more revenue from Oman

By: Esmarie Swanepoel     28th June 2018 ASX-listed Alara Resources has updated the economics of its Al Hadeetha copper project, in Oman, which resulted in higher forecast revenues and earnings before interest, taxes, depreciation and amortisation (Ebitda), but also an increase in preproduction capital costs. Alara on Thursday said... 

Abra proves economical for Galena

By: Esmarie Swanepoel     28th June 2018 A scoping study into the Abra base metals project, in Western Australia, has confirmed the project to be economically and technically robust, ASX-listed Galena Mining said. Based on an annual throughput of one-million tonnes, the project is expected to deliver 91 000 t/y of lead and 450 000 oz a... 

London court backs Deripaska in battle of Russian tycoons 

By: Reuters     28th June 2018 Russian tycoon Oleg Deripaska got a boost on Wednesday in a long-running battle for control of Norilsk Nickel when a high court judge ruled fellow investor Roman Abramovich did not have the right to sell shares in the miner to a third businessman. Deripaska, who controls aluminium giant Rusal,... 

London court backs Deripaska in battle of Russian tycoons
Oleg Deripaska

UK court: Abramovich did not have right to sell stake in Nornickel to Potanin

By: Reuters     27th June 2018 Russian billionaire Roman Abramovich, best known in Britain as the owner of Premier League soccer club Chelsea, did not have the right to sell a stake in a Norilsk Nickel to another businessman, Vladimir Potanin, a London High Court judgment said on Wednesday. The ruling follows a long battle... 

Hot Maden project moves into next stage of development

By: Mariaan Webb     27th June 2018 The Hot Maden gold and copper project in Turkey will advance to the feasibility study level, after a prefeasibility study (PFS) has confirmed the viability of mining a total of 2.6-million ounces of gold equivalent over 11 years. The Hot Maden project, which was discovered only three years ago,... 

Oz Minerals moves to take Avanco in full

By: Esmarie Swanepoel     27th June 2018 Copper/gold miner Oz Minerals will start the compulsory acquisition of the remaining shares in takeover target Avanco, after gaining a 90.46% shareholding in the company. Oz Minerals’ offer of 8.5c in cash and 0.009 of its own shares for every Avanco share held will close on July 6.  

Copper remains globally undersupplied, but production to pick up in next decade – BMI

By: Marleny Arnoldi     27th June 2018 BMI Research expects the global copper market to experience a persistent undersupply over the coming years, as global consumption growth, driven by China's power and infrastructure sectors and increasingly by rising electric vehicle (EV) production, continues to outpace supply growth.  

Copper remains globally undersupplied, but production to pick up in next decade – BMI

Arc sells holding in noncore Andiamo

By: Anine Kilian     26th June 2018 Aim-listed Arc Minerals has sold its interest in Andiamo Minerals to Africa-focused mining private equity group AMED Funds for $532 000. Arc chairperson Nick von Schirnding said in a statement on Tuesday that the sale represented a major step forward in delivering on the company’s stated strategy... 

Nevsun announces inferred resource for Timok Lower Zone

By: Creamer Media Reporter      26th June 2018 The Timok (Cukaru Peki) Lower Zone deposit contains 31.5-billion pounds of copper and 9.6-million ounces of gold, TSX-listed Nevsun Resources said on Tuesday, announcing an initial resource estimate for the project in Serbia. The Timok Lower Zone – a joint venture with Freeport-McMoRan – has a... 

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