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Copper News

Higher output boosts Kaz Minerals' FY profit

By: Creamer Media Reporter      21st February 2019 Kazakhstan- and London-listed Kaz Minerals has reported an 11% jump in underlying profit to $530-million in 2018, as its revenue grew to $2.16-billion on the back of increased copper production and higher copper prices. The miner produced 14% more copper at 294 700 t and increased its sales by... 

Newmont posts Q4 adjusted profit

By: Mariaan Webb     21st February 2019 US gold miner Newmont Mining on Thursday reported stronger fourth-quarter results, aided by lower costs and production growth, which managed to offset lower metal prices. The company, which will soon merge with Canadian miner Goldcorp to become the world’s largest gold miner, reported adjusted... 

Newmont posts Q4 adjusted profit
Newmont CEO Gary Goldberg

Chile squeezing water rights for copper, lithium miners in north

By: Bloomberg     21st February 2019 In a belated response to falling fresh-water levels in desert areas, Chile is moving to protect a natural resource that has been depleted after decades of mining activity. With complaints from local communities rising and the effects of climate change worsening, the world’s largest copper... 

Chile squeezing water rights for copper, lithium miners in north

Broadway Gold Mining anticipates investment to return to precious, base metals

By: Marleny Arnoldi     21st February 2019 Amid a rising US dollar, precious and base metals have suffered, owing to investment focusing elsewhere; however, this will not last, says TSX Venture-listed Broadway Gold Mining CEO Thomas Smeenk, whose junior mining company explores for silver, gold and copper in south-western Montana. He... 

Broadway Gold Mining anticipates investment to return to precious, base metals
Broadway Mining president and CEO Thomas Smeenk

Northern Dynasty shares up as Pebble inches forward

By: Mariaan Webb     21st February 2019 The contentious Pebble project inched forward on Wednesday, as the US Army Corp of Engineers posted a draft environmental impact statement (DEIS) for the Alaska gold/copper project, sending developer Northern Dynasty’s TSX-listed stock up nearly 20%. Northern Dynasty subsidiary Pebble Limited... 

Northern Dynasty shares up as Pebble inches forward

Euro Sun details plan for Romania mine

By: Mariaan Webb     20th February 2019 TSX-listed Euro Sun Mining has completed a preliminary economic assessment (PEA) for the initial phase of development at the Rovina Valley gold/copper project, in Romania, detailing plans to produce 108 000 oz/y of gold and 13.3-million pounds a year of copper, or 139 000 oz/y gold equivalent.... 

Cornerstone partners with Newcrest in Ecuador

By: Mariaan Webb     20th February 2019 Australian miner Newcrest has entered into an option and farm-in heads of agreement with Canadian junior Cornerstone Capital Resources, focusing on two early-stage projects in south-central Ecuador. In terms of the agreement, a subsidiary of Newcrest has an option to earn up to a 75% interest in... 

Hudbay plans C$124m mill refurbishment to double Manitoba mine's gold output

By: Mariaan Webb     20th February 2019 Base and precious metals miner Hudbay Minerals has outlined a new mine plan for the Lalor mine, in Manitoba, which extends the mine life beyond ten years and transitions the operation to a primary gold mine, which will be one of the lowest-cost in Canada. The new mine plan includes the... 

Hudbay plans C$124m mill refurbishment to double Manitoba mine's gold output
The Lalor mine in Manitoba.

ERG will suspend copper, cobalt output at Congo mine this month

By: Bloomberg     20th February 2019 Eurasian Resources Group will halt production at a copper and cobalt mine in the Democratic Republic of Congo, as it considers future investment in new production methods. The shutdown at Boss Mining Sprl will curb cobalt supplies from a nation that accounts for three-quarters of global... 

Hudbay's No. 2 investor ratchets up pressure on miner

By: Bloomberg     20th February 2019 Hudbay Minerals’s second-biggest investor ratcheted up pressure on the Toronto miner ahead of its quarterly earnings, arguing the company’s shares could more than double if it changes its strategy. Hudbay could be worth about C$19 a share if it changes its leadership, reviews its portfolio and... 

Chile says rains have hurt productivity at Codelco copper mines

By: Reuters     20th February 2019 Intense rains at the start of this month in Chile, the world's top copper miner, likely hurt productivity at State-owned miner Codelco's Chuquicamata and Radomiro Tomic mines, the country's Mining Minister said Tuesday. Chile's mining industry has lost about $300-million due to the unusually... 

Arc raises £2.2m for Zambia copper project

By: Creamer Media Reporter      19th February 2019 Aim-listed Arc Resources has raised £2.2-million through the placing of 73.6-million units at 3p each. Proceeds of the placing will be used to fund the continuing exploration and development work on the company's Zamsort copper project, in Zambia, and for general working capital purposes. 

Handa mulls development of a copper processing plant in South Africa

By: Creamer Media Reporter      19th February 2019 TSX-V-listed mining and development company Handa Mining has signed a joint venture agreement to fund and build a processing plant to recover copper from broken rock lying on the surface of properties owned by O'Okiep Copper Company (OCC) and SHIP Copper in South Africa's Northern Cape. Handa... 

Platreef weighted basket price reaches three-year high – Ivanhoe

By: Nadine James     19th February 2019 Ivanhoe Mines co-chairpersons Robert Friedland and Yufeng Sun, as well as Ivanplats MD Dr Patricia Makhesha, on Monday announced that the weighted basket price of the metals contained in the Platreef palladium/platinum/rhodium/nickel/copper/gold project has risen to a new, three-year high.... 

Copper price hits Sandfire

By: Esmarie Iannucci     19th February 2019 Falling copper prices have resulted in producer Sandfire Resources reporting a softer interim period. The ASX-listed miner on Tuesday reported a profit after tax of A$48.3-million, compared with the A$59.5-million in the previous corresponding period, with total revenue reaching A$272.3-million,... 

Implats announces revised interim HEPS, EPS figures

By: Simone Liedtke     18th February 2019 Following the release of a trading statement earlier this month, Impala Platinum (Implats) on Monday said that it “now has reasonable certainty” that its headline earnings and headline earnings per share (HEPS) for the six-month period ended December 31, 2018, are likely to be between... 

Copper cops play game of cat and mouse around desert convoys

By: Bloomberg     18th February 2019 Just weeks after the police unit was formed, they caught their first glimpse of the copper thieves -- the silhouettes of a group of men on a hill overlooking the rail lines -- triggering a car chase at the dead of night across Chile’s Atacama desert. While the pursuit ended in failure, with the... 

Copper cops play game of cat and mouse around desert convoys

Taseko closes Yellowhead Mining acquisition

By: Simone Liedtke     18th February 2019 TSX- and NYSE-listed Taseko Mines has successfully added a near-shovel-ready copper project to its assets with the successful acquisition of  Yellowhead Mining. The company reported on Friday that the transaction had closed and that Yellowhead’s shares would be delisted from the TSX-V. 

Copper Mountain posts Q4 and FY loss

By: Creamer Media Reporter      18th February 2019 Vancouver-based Copper Mountain has reported a fourth-quarter and full-year net loss, despite a strong operational performance, which saw the miner increasing quarterly output by 9.7% and meeting its 2018 production guidance. Fourth-quarter production increased to 24.5-million pounds of copper... 

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Nevada like Witwatersrand of 1970s – Bristow
Barrick Gold CEO Dr Mark Bristow

ARM expects increase in H1 headline earnings

By: Simone Liedtke     15th February 2019 Diversified miner African Rainbow Minerals (ARM) expects its headline earnings a share for the six months ended December 31, to increase by between 8% and 15% to between R11 and R11.80, compared with the R10.23 reported for the first half of the prior financial year. This positive impact is as a... 

Yamana forecasts stable-to-positive production growth to 2020

By: Nadine James     15th February 2019 TSX-listed Yamana Gold expects stable-to-positive production growth, with gold and silver output forecast to increase to 955 000 oz and 12-million ounces, respectively, by 2020. In the fourth-quarter and full-year results announcement on Thursday, the company stated that gold production would... 

Lundin says Portugal project costs revised upward

By: Mariaan Webb     15th February 2019 Canada-headquartered Lundin Mining has announced a new cost estimate for its Neves-Corvo zinc expansion project (ZEP), in Portugal, with costs increasing to €320-million. This compares with an initial approved budget of €256.5-million for the project, which will double the mine’s production to... 

Lundin says Portugal project costs revised upward

Fortune says Whati all-season road construction to start this year

By: Creamer Media Reporter      15th February 2019 The Northwest Territories government has signed an agreement with North Star Infrastructure to construct the Tlicho all-season road to the community of Whati, 50 km south of TSX-listed Fortune Minerals’ proposed Nico cobalt/gold/bismuth/copper mine. As part of its proposed development, Fortune... 

Nico project positioned to help meet growing cobalt demand

By: Jessica Oosthuizen     15th February 2019 Development-stage mining company Fortune Minerals’ Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories, is one of the few cobalt development stage projects situated outside of the Democratic Republic of Congo (DRC) that can support near-term accelerating demand for cobalt,... 

Nico project positioned to help meet growing cobalt demand
ROBIN GOAD Fortune Minerals’ Nico asset is unique, as the cobalt produced is the primary metal in the deposit and the byproducts are gold and bismuth

Barrick advancing autonomous gold production – Bristow 

By: Martin Creamer     14th February 2019 Autonomous production systems and projects are being advanced across Barrick Gold as the group focuses on boosting mining efficiency, new Barrick president and CEO Dr Mark Bristow tells Mining Weekly Online. This is part of an all-out drive by Bristow to ensure that Barrick, into which Randgold... 

Barrick advancing autonomous gold production – Bristow
Barrick Gold CEO Dr Mark Bristow

Norway gives go-ahead to disputed Arctic copper mine

By: Reuters     14th February 2019 Norway's government approved on Thursday the building of a copper mine near Europe's northernmost point despite years of opposition from indigenous Sami herders and fishermen. "The mining project will strengthen the industrial base in the north," Industry Minister Torbjoern Roe Isaksen of the... 

Norway gives go-ahead to disputed Arctic copper mine

Peru agency rules out tailings spill at Southern Copper mine

By: Reuters     13th February 2019 Peru's environmental regulator OEFA has concluded that mining waste from Southern Copper Corp's Cuajone unit did not spill into the environment during heavy rains last week. OEFA said in a statement late Tuesday that it was still supervising operations at Cuajone but had ruled out any tailings... 

Bristow snaps into fast action wearing Barrick crown 

By: Martin Creamer     13th February 2019 Dr Mark Bristow has snapped into fast action wearing the Barrick crown. His Randgold Resources, which now falls under the Barrick Gold umbrella, on Wednesday bowed out with panache when it declared a 35% dividend increase to $2.69 a share, buoyed by record production of 807 000 oz of gold at the... 

Bristow snaps into fast action wearing Barrick crown
Barrick CEO Mark Bristow in the field.

Taseko posts FY loss, expects higher copper pricing in 2019

By: Mariaan Webb     13th February 2019 Canadian miner Taseko is expecting increased copper prices in 2019 and a rebound in gross revenues and margins, after the fluctuations of the copper price last year resulted in a “challenging” operating environment. The company reported weaker production at its Gibraltar mine, in British... 

Teck misses profit estimates on lower oil, metal prices

By: Reuters     13th February 2019 Canada's Teck Resources, the world's second-biggest exporter of steel-making coal, posted a lower-than-expected quarterly profit on Wednesday, hurt by weak prices for heavy crude and base metals. Transportation bottlenecks in the country have pushed prices of Canadian oil lower, hurting the... 

Teck misses profit estimates on lower oil, metal prices

Bezant outlines mining options for Mankayan project

By: Simone Liedtke     12th February 2019 Aim-listed Bezant Resources on Tuesday said that an independent study had found that the Mankayan copper/gold porphyry supported different robust routes for the future development of its Philippines-based project. This included, for the first time, a sub-level caving (SLC) ‘stepping stone’... 

Nzuri finds funding for Kalongwe

By: Esmarie Iannucci     12th February 2019 Copper junior Nzuri Copper has secured a loan facility of A$3-million from major shareholder Tembo Capital Mining, to advance its Kalongwe copper/cobalt project, in the Democratic Republic of Congo. The unsecured loan will have a maturity date of nine months once the definitive agreement has... 

Southern Copper says Peru plant to be partially suspended 3 to 5 days

By: Reuters     12th February 2019 Southern Copper Corp said on Monday that a key plant it uses to produce copper in Peru would not fully restart for another three to five days while work is done on its tailings and railway infrastructure following heavy rains. Peru's environmental regulator OEFA has been investigating a... 

Xtract concludes MoA to explore for copper/gold resource in Zambia

By: Tasneem Bulbulia     11th February 2019 Xtract Resources on Monday concluded a memorandum of agreement (MoA) with an unnamed consortium to jointly undertake exploration works on a small-scale copper/gold mining licence, in Zambia. The parties hope to identify a copper/gold resource at the licence within 24 months. 

Metal Tiger raises funds to support exploration in Botswana

By: Tasneem Bulbulia     11th February 2019 Aim-listed Metal Tiger on Monday announced the placing of 70.01-million shares, at a price of 1.45p each, with new and existing investors to raise gross proceeds of about £1-million. In addition to the placing, Metal Tiger also announced that it has signed a nonbinding term sheet with Sprott... 

Xolobeni judgment continues to confound 

By: Martin Creamer     11th February 2019 Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other.  But the... 

Xolobeni judgment continues to confound
Mineral Resources Minister Gwede Mantashe

Codelco plans to resume Chuquicamata mine operations after rains

By: Reuters     11th February 2019 Chilean State miner Codelco said on Saturday it hoped to soon restart operations at its northern Chuquicamata copper mine a day after heavy rains forced its suspension. Codelco said operations at its smaller Ministro Hales mine restarted late on Friday after several hours' suspension and that... 

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