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Nevsun lifts Q3 copper output

By: Natalie Greve Dual-listed Nevsun Resources has posted a 19% quarter-on quarter increase in copper production, delivering 56.4-million pounds of the yellow metal in the quarter ended September 30. Cash costs at the group’s Bisha mine, in Eritrea, remained relatively flat, at $1.05/lb, while the company realised... 

Botswana mining output jumps 16.7% year-on-year in Q1

By: Reuters Botswana's mining production rose 16.7% year-on-year in the first quarter mainly due to the completion of maintenance at the Orapa diamond mine, the first set of industry figures from Statistics Botswana showed on Friday. Diamond output was the biggest contributor to growth in the first quarter,... 

Canada's First Quantum's earnings hurt by lower copper output

By: Reuters Canadian base metal miner First Quantum Minerals reported a bigger-than-expected drop in third-quarter earnings on Thursday, due in part to lower copper and nickel production. The company, which primarily mines copper but also produces nickel and gold, said earnings fell to $121.2-million, or... 

Newmont earnings fall on lower prices, beats Street

By: Henry Lazenby Gold producer Newmont Mining has reported lower earnings for the three months ended September 30, as lower sales and metals prices weighed on its balance sheet. However, the Denver, Colorado-based company’s financial results beat analyst forecasts, helped, in part, by lower costs. 

Newmont earnings fall on lower prices, beats Street

Palabora Copper awarded Level 4 BBBEE status

By: Chantelle Kotze Refined copper producer Palabora Copper (PC), a subsidiary of Palabora Mining Company (PMC), achieved a Level 4 broad-based black economic-empowerment (BBBEE) status earlier this month following an audit conducted by BBBEEE verification agency Edge Verification Solutions last month, for the year... 

Palabora Copper awarded Level 4 BBBEE status
Photo by Reuters
TRANSFORMATION AGENDA Palabora Copper’s 100% Level 4 broad-based black economic-empowerment status will be valid until October 2015

Vale reports increased production from African operations in third quarter

By: Keith Campbell Brazilian mining major Vale’s Moatize coal operation in the Tete province of Mozambique increased its output during the third quarter (3Q) of this year, in comparison to the second quarter (2Q). This was revealed by the group in its 3Q14 Production Report. During the third quarter, Moatize... 

Goldcorp stock falls on Q3 earnings miss

By: Henry Lazenby The NYSE-listed stock of miner Goldcorp on Thursday fell 10% after the world’s largest gold producer by market capitalisation swung to a net loss for the three months ended September 30. Vancouver-based Goldcorp had a loss for the third quarter of $44-million, or $0.05 a share, compared with net... 

Goldcorp stock falls on Q3 earnings miss

Zambia may be backing off steeper mine royalty rates – Barrick

By: Reuters There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the... 

PanAust expects to hit upper-end of 2014 guidance

By: Esmarie Swanepoel Copper/gold miner PanAust on Thursday told shareholders that the company was on track to meet its full-year production guidance, after reporting a solid quarter in the three months to September. During the quarter under review, the Phu Kham mine, in Laos, produced 16 562 t of copper in... 

Augusta acquisition adds to Hudbay’s Q3 profit

By: Henry Lazenby Canadian base metals producer Hudbay Minerals has generated a profit of $49.2-million, or $0.22 a share, for the three months ended September 30, up from $3-million for the same period in 2013, boosted by gains related to the C$555-million acquisition of Augusta Resource Corp in July. Hudbay... 

Chile's Codelco issues $980m bond to help fund investments

By: Reuters Chile's Codelco, the world's largest copper producer, said on Tuesday it has issued $980-million in 30-year senior unsecured notes to help finance an ambitious investment plan. The bond carries a 4.875% annual coupon and 4.966% yield. 

Southern Copper's net profit falls 5.8% in third quarter

By: Reuters Southern Copper's net income fell 5.8% in the third quarter from the same period a year earlier on higher sales costs and a new mining tax in Mexico, the global miner said on Tuesday.The company's reported third-quarter net income of $324.3-million, or $0.039 a share, came in slightly below... 

Freeport-McMoRan’s Q3 profit drops amid depressed prices

By: Henry Lazenby Diversified miner Freeport-McMoRan's profit fell nearly a third year-on-year for the three months ended September 30, as depressed copper and gold prices cancelled expected gains from improved sales. NYSE-listed Freeport reported net income attributable to shareholders of $552-million, or $0.53 a... 

Freeport-McMoRan’s Q3 profit drops amid depressed prices

Rambler Metals reports solid full-year performance

By: Henry Lazenby Having reported strong results for its financial year ended July 31 and with a fully repaid debt facility and a stack of cash in the bank, Aim- and TSX-V-listed Rambler Metals is looking towards the 2015 fiscal year to take the company to the next level. Rambler, which currently operates the Ming... 

Freeport Indonesia union plans one-month strike at copper mine

By: Reuters Workers at Freeport-McMoRan's giant Indonesian copper mine plan to go on strike for a month from next week, a union official said on Monday, after the company failed to make changes to local management following a fatal accident. Earlier this month, hundreds of angry protesters blocked access... 

Peru copper mine Antamina says weaker output to end over medium term

By: Reuters Antamina, Peru's top copper mine, said on Friday it expects a period of weaker production to subside in "the medium term." The mine, in which BHP Billiton and Glencore Xstrata each have 33.75% stakes, produced 246 851 t of copper in the first eight months of 2014, 14% less than in the same... 

SA group delivering components of 1 100 t headgear to Zambian mine

By: Chantelle Kotze Heavy engineering group of companies Steel Services & Allied Industries (SS&AI) is delivering the components to site for a 1 100 t steel headgear manufacturing project, which is expected to be erected at the end of the year at the Mopani copper mine, in Zambia. 

SA group delivering components of 1 100 t headgear to Zambian mine
LARGE UNDERTAKING The longest abnormal piece of steelwork used in the headgear project was more than 13-m-long and weighed about 30 t

Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby Diversified Brazil-based miner Vale on Thursday reported record iron-ore output for the third quarter ended September 30, boosted by quarter-on-quarter gains in all its business segments. Vale said iron-ore output was 85.7-million tonnes in the period, underpinned by the ramp-ups of Plant 2 at... 

Vale lifts Q3 iron-ore output to historic highs

Chile Congress gives green light to Codelco capitalisation

By: Reuters Chile's Congress approved late Wednesday the government's capitalisation plan for Codelco, which will see the state copper firm receive $4-billion over the next five years to help fund an ambitious investment programme. The Chilean government announced in August that it planned to give Codelco,... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

Nautilus Minerals steps closer to releasing PNG funding

By: Henry Lazenby Prospective seafloor miner Nautilus Minerals has satisfied one of the conditions precedent to releasing $113-million, which its project partner – the Papua New Guinea government – had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the... 

Chieftain Metals reports strong project feasibility optimisation

By: Henry Lazenby The proponent of the Tulsequah Chief polymetallic project, in British Columbia, Chieftain Metals, late on Monday published the results of an optimised feasibility study, aimed at improving the financeability of the project in the current difficult market. The 2014 feasibility update, prepared by... 

Chieftain Metals reports strong project feasibility optimisation

Tiger ups production as SX-EW plant hits nameplate

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a significant surge in production after its solvent extraction electrowinning (SX-EW) plant, at its Kipoi project in the Democratic Republic of Congo, reached nameplate capacity. First copper cathode was produced in May this year, and the... 

Tiger closes deal to fully acquire Kipoi copper play

By: Natalie Greve ASX-listed Tiger Resources has completed the acquisition of the remaining 40% shareholding in Société d’Exploitation de Kipoi (SEK), the owner of the Kipoi copper project, in the Democratic Republic of Congo (DRC). SEK was now a wholly-owned subsidiary of Tiger, with the deal having followed the... 

Hillgrove reports solid quarter

By: Esmarie Swanepoel Copper miner Hillgrove Resources has reported solid production in the third quarter, despite it being only a two-month quarter as the company aligned its financial year to the calendar year. For the two months ended September, Hillgrove’s Kanmantoo copper mine, in South Australia, delivered 4... 

China metals demand seen up in 2015, copper at least 6%

By: Reuters China's consumption of refined copper is expected to rise at least 6% in 2015, roughly in line with this year, supported by new investment in power networks and demand from rail projects, analysts and industry executives said. An expected slowdown in new residential and commercial building... 

Chile cuts copper production forecast for 2014

By: Reuters Chile reduced its forecast for production of copper in 2014 to 5.83-million tonnes, down from a previous prediction for 5.95-million tonnes. State copper commission Cochilco said on Friday that the country, the world's top copper producer, would likely produce a record 6.23-million tonnes in 2015. 

CAER refuses to rewrite Sandfire profile

By: Esmarie Swanepoel The Centre for Australian Ethical Research (CAER) on Friday rejected claims that it would rewrite its profile of copper miner Sandfire Resource, which resulted in the Australian National University (ANU) dumping its stock earlier this month. Following a review by CAER, the ANU took the decision... 

Burgess waves goodbye to Oz

By: Esmarie Swanepoel Terry Burgess stepped down as chief of ASX-listed Oz Minerals on Friday, to be replaced by Andrew Cole on December 3. In the interim, CFO Andrew Coles would be acting as CEO until Cole could take his position as MD and CEO. Burgess has also agreed to assist the company until the end of the year... 

Peru rules out tax breaks or subsidies to counter slowdown

By: Reuters Peru's government has ruled out cutting taxes or introducing subsidies to encourage investment and cushion export sectors from the worst economic slowdown in five years, the minister responsible for industry said on Thursday. The government said earlier this year that it was considering... 

Reliable temperature control solutions prevent lost time

By: Bruce Montiea Temporary power and temperature-control solutions supplier Aggreko can provide mining companies with reliable solutions, enabling them to continue their operations without interference such as equipment breakdowns or maintenance downtime, says Aggreko Southern Africa GM Martin Foster. “Our... 

Reliable temperature  control solutions  prevent lost time
COOLING SYSTEM Aggreko supplies a full range of water and air-cooled chillers, cooling towers and bulk air coolers, all utilising an environment-friendly refrigerant system
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