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Base Metals News

Congo's 9-mth copper output up 8.7%, cobalt nearly doubles

By: Reuters     23rd November 2018 Copper output in Democratic Republic of Congo rose 8.7% year on year through the first nine months of 2018 to 908 695 tonnes while cobalt production jumped 92.5% to 115 116 tonnes, the central bank said on Thursday. Congo is Africa's top copper producer and the world's leading miner of cobalt,... 

BASF makes low-nickel wager amid scramble for battery metals

By: Reuters     23rd November 2018 German chemicals giant BASF is betting on a new recipe for electric car batteries which stretches the time between charges while cutting dependence on nickel to help shave costs and grab more of a growing market. It is part of flurry of activity in the sphere of cathodes materials, a major... 

South African infrastructure better suited to transporting precious metals than base metals 

By: Nadine James     23rd November 2018 South Africa’s (SA’s) transport infrastructure was built for and remains suited to the movement of precious metals and diamonds, Herbert Smith Freehills (HSF) consultant Biddy Faber told attendees of the roundtable on Exploring comparisons between SA and Brazilian mining and infrastructure... 

SolGold CEO excited by prospects for Ecuadorian copper/gold

By: Reuters     23rd November 2018 SolGold's coveted Ecuadorian copper-gold prospect may be 20 percent bigger than the mining group said earlier this week, its chief executive Nick Mather said on Thursday. SolGold, in which Mather has a near 5% stake, said on Tuesday that its Alpala project in Ecuador's Cascabel region was... 

SolGold CEO excited by prospects for Ecuadorian copper/gold
Solgold CEO Nick Mather

Atalaya posts higher profit as sales tick up

By: Creamer Media Reporter      22nd November 2018 European copper miner Atalaya Mining increased its third-quarter revenue to €42.8-million, from €35.7-million in the same quarter of 2017, as its sales volumes increased and prices improved. The miner, which operates the Riotinto mine in Spain maintains listings on the Aim and TSX exchanges,... 

Initial indications from T23 Dome drilling show promise for copper – Metal Tiger

By: Marleny Arnoldi     22nd November 2018 Aim-listed Metal Tiger on Thursday said diamond drilling in the first two widely spaced holes at the T23 Dome, in Botswana, has intersected visible copper mineralisation at shallow depth, which may be of significant potential. The T23 Dome is the first drilling target on the T20 exploration... 

Alufer successfully delivers first bauxite shipment to China

By: Simone Liedtke     22nd November 2018 Independent mineral exploration and development company Alufer Mining has delivered its first Capesize shipment of bauxite, which totals 203 009 metric tonnes, to the Port of Qingdao, in China. From the port, it will be delivered to China’s largest alumina and primary aluminium producer, Chalco... 

Minera Alamos receives permit for Fortuna project

By: Creamer Media Reporter      22nd November 2018 Toronto-based Minera Alamos has received an environmental permit for the La Fortuna gold project, in Mexico, which now allows the company to advance the project on several fronts. Minera Alamos said on Wednesday that it would initiate applications for other state/local permits, including permits... 

Trafigura locks in Nyrstar with $650m rescue deal

By: Bloomberg     21st November 2018 By handing a $650-million lifeline to Nyrstar, Trafigura Group cemented its power over the troubled zinc producer and raised its standing in a possible restructuring. Trafigura granted extra cash to keep Nyrstar running smoothly as the company, the world’s second-largest zinc producer, faced a... 

Trafigura locks in Nyrstar with $650m rescue deal

Doubts cast on plans for deluge of new nickel supply 

By: Reuters     21st November 2018 Expectations of a supply avalanche hitting the nickel market next year due to new capacity in Indonesia have sent prices to seven-month lows, but analysts doubt the plans spearheaded by Chinese firms can be carried out so quickly. Benchmark nickel on the London Metal Exchange nearing $11 000/t... 

Rambler widens Q3 loss despite much-improved output

By: Mariaan Webb     21st November 2018 Copper and gold producer Rambler Metals and Mining has widened its third-quarter net loss to $2.2-million, as higher production expenses offset an increase in revenue. Revenue rose from $7.3-million in the third quarter of 2017, to $9-million, while cash production expenses increased from... 

Zambia's copper output up 10.4% y/y in September

By: Reuters     21st November 2018 Zambia's annual copper output rose 10.4% in September to 631 359 tonnes, the central bank in Africa's second-biggest producer of the industrial metal said on Wednesday. Some mining companies operating in Zambia include NFC Africa, majority owned by China Non-ferrous Metals Company Limited (CNMC),... 

Canadian junior to fast-track San Juan copper/gold project

By: Mariaan Webb     21st November 2018 The Josemaria copper/gold project in the Andes mountains of San Juan, Argentina, will be on an accelerated development schedule, as Canadian junior NGEx Resources moves to elevate the project to construction-ready level amid a global scarcity of such projects. With the long-term copper... 

Rio forecasts new aluminum capacity will be needed outside China

By: Bloomberg     21st November 2018 Aluminum producers will need to build additional smelting capacity outside of China as inventories run down in the coming two to three years, according to Rio Tinto Group. “We see aluminum demand growth being extremely healthy,” Alf Barrios, Rio’s aluminum chief executive officer, said in an... 

Pebble project secures access for construction

By: Mariaan Webb     21st November 2018 The Pebble Limited Partnership (PLP) has secured the right to use portions of the Alaska Peninsula Corporation (APC) land for the construction and operation of transportation infrastructure associated with the proposed mine. PLP, a wholly owned subsidiary of Canadian junior Northern Dynasty,... 

Pebble project secures access for construction

Solgold doubles Ecuador deposit’s mineral resource estimate

By: Mariaan Webb     20th November 2018 LSE- and TSX-listed Solgold has delivered a new resource estimate for the Alpala porphyry copper/gold deposit, in northern Ecuador, of 2.95-billion tonnes in the indicated and inferred categories. The resource estimate contains 10.9-million tonnes of copper and 23.2-million tonnes of gold at a... 

MOD to list on the LSE

By: Marleny Arnoldi     20th November 2018 The UK Listing Authority has approved ASX-listed MOD Resources’ prospectus, which is a prerequisite for the company’s intended secondary listing on the LSE. MOD will start trading its shares on the LSE on or around November 26.  

EPA backs Nickel West's Mt Keith plans

By: Esmarie Iannucci     20th November 2018 The Western Australian Environmental Protection Authority (EPA) has approved diversified miner BHP’s Nickel West division’s proposal to build the Mt Keith nickel sulphide mine. The propsed Mt Keith satellite project is located near the existing Mt Keith operation, and will produce some... 

Sconi BFS puts $974m pricetag on project

By: Esmarie Iannucci     20th November 2018 A bankable feasibility study (BFS) on the Sconi cobalt/nickel/scandium project, in Queensland, has estimated a capital cost of $974-million, ASX-listed Australian Mines told shareholders. The capital cost estimates included an estimated $730-million for the processing plant, $31-million for the... 

Collerina's HPA First process proves feasible

By: Esmarie Iannucci     20th November 2018 he prefeasibility study (PFS) into the high purity alumina (HPA) First process, at its Collerina project in New South Wales, has delivered a compelling business case, said Collerina Cobalt. The HPA First route represents an opportunity to fast-track production of HPA as the dominant revenue... 

Winning Teck's copper mine prize may come down to more than cash

By: Bloomberg     20th November 2018 With the second round of bids to secure a piece of Teck Resources’ $4.7-billion copper expansion expected in the coming weeks, victory may come down to more than price. Teck, which owns 90% of Quebrada Blanca in northern Chile, would like to sell a 30% to 40% stake to an outside investor. With... 

Winning Teck's copper mine prize may come down to more than cash

Amur unveils strategic plan for Kun-Manie

By: Simone Liedtke     19th November 2018 Aim-listed Amur Minerals’ Kun-Manie nickel/copper sulphide project has now been sufficiently explored, with numerous studies having confirmed its technical and economic potential to produce class-one nickel suited for the expected growth of the electronic vehicle market. To build on its... 

Cradle Arc secures working capital extension for Mowana

By: Simone Liedtke     19th November 2018 The holding company of the Mowana copper mine has secured a $4-million working capital extension from Fujax Minerals and Energy, which Aim-listed Cradle Arc has hailed as a “vote of confidence” in the Botswana operation. Leboam Holdings, a 60%-owned subsidiary of Cradle Arc, negotiated a 24-month... 

Brazil court orders Vale to pay damages to indigenous tribes

By: Reuters     19th November 2018 Brazilian court has ordered Vale, Brazil's largest miner, to stop its nickel-extracting operations in the northern state of Pará and pay damages to two indigenous tribes that live in the area. Vale, one of the country's biggest companies, will not be able to resume mining iron or nickel at its... 

Chile copper production seen growing by 4% next year

By: Marleny Arnoldi     19th November 2018 Chile is set to deliver steady production growth of 4% next year, as the risk of labour strikes decreases and mines are upgraded, Fitch Solutions Macro Research says in a report, also warning that declining grades pose a downside risk to its long-term forecast. Fitch states that Chile’s copper... 

Chile copper production seen growing by 4% next year
Photo by Bloomberg
BHP Billiton's Escondida copper mine, in Chile

TopTung makes a play for Canadian neighbour

By: Esmarie Iannucci     19th November 2018 ASX-listed junior TopTung has moved to acquire Canadian Nickel Corporation (CNC) to more than double its landholding in Quebec. CNC has previously entered into conditional agreements to acquire three advanced nickel/copper sulphide projects that are in the same district as TopTung’s own Alotta... 

Nespresso to use Rio Tinto’s responsibly-sourced aluminium in coffee capsule production

By: Marleny Arnoldi     19th November 2018 Nespresso, an operating unit of Nestlé Group, will be the first company to use responsibly-sourced aluminium from global miner Rio Tinto to produce its coffee capsules. The two companies have signed a memorandum of understanding (MoU) to work together with Nespresso’s capsule manufacturers to... 

Nespresso to use Rio Tinto’s responsibly-sourced aluminium in coffee capsule production
Nespresso using Rio Tinto's responsibly-sourced aluminium in coffee capsule production

Lundin confirms job cuts at Chile's Candelaria copper mine

By: Reuters     18th November 2018 Canadian miner Lundin confirmed on Friday it was cutting 106 jobs at its Candelaria copper mine in Chile to "improve competitiveness and productivity", amid reports that workers had begun a 48-hour strike. In a statement sent to Reuters, the company said the job cuts represented less than 2% of... 

Barrick Gold eyes assets, exploration as it plots new phase 

By: Bloomberg     17th November 2018 Barrick Gold, soon to become the world's largest bullion miner, is interested in adding more copper assets as long as the red metal is accompanied by bullion, executives said on Friday. Barrick, which expects to complete its $6.1-billion takeover of Randgold Resources January 1, outlined plans... 

Barrick Gold eyes assets, exploration as it plots new phase
Mark Bristow

India’s Nalco to bid for bauxite blocks at auctions, readies to foray into merchant mining

By: Ajoy K Das     16th November 2018 With various Indian state governments readying to put 21 bauxite mines up for allocation, State-run National Aluminium Company Limited (Nalco) will put in bids at the auctions for captive consumption and foray into merchant mining of the raw material. The 21 bauxite blocks will be auctioned by... 

Teck to announce Chile project partner in December

By: Mariaan Webb     16th November 2018 Canadian miner Teck Resources is making good progress with the process of bringing a partner into its northern Chile copper development project and plans to announce a transaction next month, CEO Don Lindsay said on Thursday. The company sees the Quebrada Blanca Phase 2 expansion as its most... 

NWT govt selects proponent to build Tlicho road

By: Creamer Media Reporter      16th November 2018 The Northwest Territories government has selected its preferred proponent to fund, construct, operate and maintain the Tlicho all-season road, which TSX-listed Fortune Minerals will use for its Fortune cobalt/gold/bismuth/copper mine project. The preferred proponent is North Star Infrastructure,... 

DRC lifts export ban on Glencore's copper and cobalt unit 

By: Bloomberg     16th November 2018 A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone.... 

MOD completes T3 buy

By: Esmarie Iannucci     16th November 2018 Copper developer MOD Resources has completed the acquisition of the remaining 30% interest in its flagship T3 copper project, in Botswana. MOD in July this year signed a binding agreement with its joint venture (JV) partner Metal Tiger to acquire its share of the project for A$26.6-million. 

Instil portable skills to assist economic development post closure – consultancy

By: Nadine James     16th November 2018 Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.... 

Instil portable skills to assist economic development post closure – consultancy
JANINE EPSIN ompanies should approach closure with economic sustainability in mind

Orion clears another significant hurdle at Prieska project

By: Natasha Odendaal     16th November 2018 The receipt of the final assay results from the recently completed deep sulphide mineral resource drill-out at the Prieska zinc/copper project, in the Northern Cape, has paved way for the updated mineral resource due mid-December, says ASX-listed Orion Minerals MD and CEO Errol Smart. The... 

Now export duty dispute halts Katanga’s copper exports 

By: Mariaan Webb     15th November 2018 Merely a week after Glencore subsidiary Katanga Mining halted cobalt exports from its Kamoto mine, in the Democratic Republic of Congo (DRC), its copper exports have also been suspended as a result of an alleged failure to declare and pay duties on 6 650 t of copper in late 2015, early 2016. In... 

Now export duty dispute halts Katanga’s copper exports

Antofagasta approves $1.3bn Chile copper expansion

By: Mariaan Webb     15th November 2018 The Los Pelambres copper mine is set for a $1.3-billion expansion, with London-listed Antofagasta on Thursday announcing that production at the Chile mine would be increased by an average 60 000 t/y. The project, owned 60% by Antofagasta and 40% by consortiums led by Nippon and Mitsubishi, will... 

Antofagasta approves $1.3bn Chile copper expansion
Antofagasta CEO Ivan Arriagada
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