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Hudbay stock on the move as sales, cash flows rise

By: Henry Lazenby     Updated 6 hours ago The TSX-listed stock of base metals producer Hudbay Minerals jumped as much as 17% on Friday to C$6.22 a share, following the company reporting strong sales growth despite lower metals prices during the March quarter. The Toronto-based miner, with operations in Peru and Canada’s Manitoba... 

Chile data paints mixed picture for economy

By: Henry Lazenby Economic data published on Friday painted a mixed picture for Chile's economy, the world's No 1 copper producer, as factory output and copper production jumped while retail sales remained soft and the national jobless rate rose. "This is data that reflects the complexities faced by the economy... 

Companies bought to enhance training offering

Training, supply and management group Workforce Holdings announced in January that it had acquired the various operating companies comprising outsourcing solutions providers Quyn Outsource Solutions. Workforce has predominantly placed staff in nontechnical positions and adding Quyn to its service... 

Companies bought to  enhance training offering
Photo by Bloomberg
SKILLS OFFERING EXPANDED Quyn Outsource Solutions’s e provision of technical skills to clients across a range of industries represents diversification for Workforce

Company to exhibit highly resilient pipe at Copperbelt expo

Two trading arms of complete pipeline solutions provider Rare, Rare Plastics and Rare Pipeline Services (which incorporates Rare Construction Zambia), will be exhibiting at this year’s Copperbelt Mining Trade Expo and Conference (CBM-TEC) from May 12 to 13. Rare will be showcasing their new Rare... 

MetSkill

By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Mineworkers empowered

By: Kimberley Smuts If workers in the mining, energy and construction industries want to improve their financial situation, it is important that they take advantage of the financial literacy programmes currently being rolled out by financial assistance provider Mineworkers Investment Trust (MIT), which supports... 

Mineworkers empowered
Photo by Bloomberg
INVESTING FOR THE FUTURE The Mineworkers Investment Trust's financial literacy training started in Mpumalanga as a pilot study in June 2015 with more training expected to take place this year

Nambian operation delivers improved copper cathode production

By: Mia Breytenbach Aim-listed mining company Weatherly International’s Tschudi mine, in Namibia, has achieved a production of copper cathode of 4% above the mine’s nameplate production rate of 17 000 t/y. The mine produced 4 442 t of copper cathode in the quarter ended March 31, the company reported in a statement... 

Nambian operation delivers improved copper cathode production
Photo by Bloomberg
PRINCIPAL ASSET The Tschudi openpit copper mine achieved better than its nameplate production of 17 000 t/y in December

Society aims to integrate more students into mining sector

By: Kimberley Smuts The University of Witwatersrand's Students Mining Engineering Society (SMES) aims to increase the integration of mining engineering graduates into the mining industry this year, as well as to encourage mining engineering students to have an opinion on mining-related issues in South Africa. SMES... 

Society aims to integrate more students into mining sector
FORTUNE MSIBI Mining engineering students face the challenge of a lack of available jobs in the sector, as a result of South Africa’s financial crisis

Technological advancements continue despite mining sector’s downturn

By: Sascha Solomons Beneficial trends and technological advancements in the mining industry are being introduced regardless of the depressed market conditions that the sector faces, says environmental management company I-CAT Environmental Solutions technical manager Morne van Wyk. One such trend is recycling water... 

Technological advancements continue despite mining sector’s downturn
HYFLUX KRISTAL HOLLOW-FIBRE Ensure the effective and environmentally safe reduction of excess wastewater in the mining industry

ZCCM seeks to diversify assets as it reports 2015 loss

By: Ilan Solomons Zambian investments holding group ZCCM reported a full year loss after tax of K987-million for the year ended March 31, 2015. At the company level the loss was K639-million in 2015, which was a significant reversal from the profit of K893-million it made in 2014. 

ZCCM seeks to diversify assets as it reports 2015 loss
Photo by Bloomberg
Konkola Mine Konkola Copper Mines reported a net loss of $178.5-million for the financial year ended March 31, 2015, compared to a $89.2-million loss in 2014

First Quantum swings to Q1 profit as production rises

By: Henry Lazenby Canadian base metals producer First Quantum Minerals has swung to a first-quarter profit as strong production at all its continuing operations underpinned rising revenues. Net earnings from continuing operations attributable to TSX- and LSE-listed First Quantum shareholders was $49-million in the... 

Southern Copper's net profit dropped 34.5% in first quarter

By: Reuters Southern Copper's net profit dropped 34.5% to $185.1-million, or $0.24 a share, in the first quarter on slumping metal prices, the company said Thursday. The result was better than the mean market estimate of $139.76-million, according to Thomson Reuters I/B/E/S. 

Mexican miner Penoles' profit falls on financial costs

By: Reuters Mexican miner Penoles on Thursday reported a 65% drop in first-quarter net profit compared to the same period a year earlier, hit by higher financial costs on options it owned. The miner and metals processor which runs the world's largest primary silver producer, Fresnillo, posted a profit... 

Freeport's Chile-based El Abra mine, union seal wage agreement

By: Reuters Unionised workers at Chilean copper mine El Abra, controlled by Freeport-McMoran, accepted a wage contract offered by the company, union president Juana Mejias said on Thursday. Tensions between the union and Arizona-based Freeport, the world's biggest listed copper producer, have been high since... 

Covenant violation risk diminishes for Capstone

By: Henry Lazenby Copper producer Capstone Mining has reported a narrower first-quarter adjusted loss of $1.5-million, or nil per share, year-on-year, despite rising costs at its Minto mine, in the Yukon Territory of Canada. For the period ended March 31, Capstone reported operating cash flow before changes in... 

Chile seen producing 5.77m tonnes copper in 2016 – Cochilco

By: Reuters World No 1 copper exporter Chile is expected to produce 5.77-million tonnes of the metal in 2016 and prices for the industrial metal are seen averaging $2.15/lb for the year, state copper commission Cochilco said on Wednesday. Copper prices are expected to average $2.20/lb for 2017, it added. 

Indonesia estimates value of Freeport unit two-thirds below offer

By: Reuters Indonesia has proposed a value for a 10.64% stake in Freeport-McMoran's local unit that is about two-thirds below the figure the company proposed in January. Copper miner Freeport's unit is valued at about $630-million and the US-based parent has been asked to revise its offer, an Indonesian... 

Teck reports surprise profit as steelmaking coal, zinc prices turn north

By: Henry Lazenby Canada’s largest diversified miner Teck Resources has reported a surprise profit for the three months ended March 31, reporting headline earnings attributable to shareholders of $18-million, or $0.03 a share, compared with a forecast loss of $0.03 a share. Vancouver-based Teck, the largest... 

Freeport loss doubles as low prices bite

By: Henry Lazenby US diversified miner Freeport McMoRan has booked a $3.8-billion write-down of the carrying value of its oil and gas properties, on the back of lower West Texas Intermediate prices. The company reported a net loss attributable to common stock totalling $4.2-billion, or $3.35 a share, for... 

Nevsun Reservoir deal shows M&A appetite for quality mines – execs

By: Reuters A tussle for control of a promising copper project in Serbia shows there is appetite for high quality mining assets in stable countries and may be a harbinger of further industry mergers and acquisitions, executives involved in the deal said on Monday. Nevsun Resources Ltd said on Sunday it had... 

Another proxy advisory firm rubbishes RRC claims

By: Henry Lazenby Canadian base metals miner Taseko Mines on Monday reported that a second independent proxy advisory firm has recommended that shareholders vote against all proposals made by dissident shareholder Raging River Capital (RRC) during the special meeting scheduled for May 10. Institutional Shareholder... 

Nevsun, Reservoir merge to create new midtier base metals company

By: Samantha Herbst Dual-listed base metals miner Nevsun Resources has agreed to acquire TSX-listed Reservoir Minerals for about $365-million to create a new, diversified midtier base metals mining company. 

Codelco expects to recover lost copper production from El Teniente

By: Reuters Chile's state-owned Codelco said on Friday it expects to recover its El Teniente copper mine's lost production during a five-day stoppage by the end of the year through different mitigation measures at its mines. "As such, this situation will not provoke a material or significant impact on... 

Anglo bettering North American safety benchmark

By: Martin Creamer Safety improvement at Anglo American mines has put the diversified mining company ahead of the North American mining industry, the leading point of reference. While in full production mode, the London- and Johannesburg-listed business achieved a fatality-free fourth quarter (Q4), which on top of... 

Anglo bettering North American safety benchmark
Photo by Duane Daws
Mark Cutifani

Codelco Andina mine still at 65% after tailings duct ruptures

By: Reuters World No 1 copper producer Codelco said on Thursday its Andina mine in central Chile was still operating at 65% capacity after a tailings duct had ruptured and caused a temporary leak after storms over the weekend. A mudslide caused by torrential downpours had ruptured the duct, the company said... 

Expo ‘highly valuable’, says supplier

By: Robyn Wilkinson Mining products manufacturer and supplier Osborn Engineered Products says this year’s Copperbelt Mining Trade Expo and Conference (CBM-TEC) will provide it with an opportunity to find a Zambian representative agent or dealer for its products. Sales director Noel Bessler says that this will help... 

Expo ‘highly valuable’, says supplier
FLEXIBLE OFFERING Osborn’s modular crushing plants are designed to be fully containerised for transportation and thus can be easily moved from one site to another

Govt support imperative to develop downstream copper mining activities

By: Robyn Wilkinson The lack of downstream development in Zambia’s copper mining industry is a concern that nonprofit organisation Copper Development Association Africa (CDAA) is seeking governmental support to address, reports CDAA director Evert Swanepoel. 

Govt support imperative to develop downstream copper mining activities
EVERT SWANEPOEL The Copper Development Association Africa urges the Zambian government to develop downstream business activities for the copper industry

Zambian mining services boost means to unlocking industry wealth

By: Robyn Wilkinson To bridge the information gap between local businesses and the copper mines operating in Zambia, the Zambian Association of Manufacturers (ZAM) will launch a new Web-based facility – Zamb2b.com – at the Copperbelt Mining Trade Expo and Conference (CBM-TEC) in Kitwe next month. 

Zambian mining services boost means to unlocking industry wealth
DEVELOPING INDUSTRY Local businesses need assistance to increase the opportunities associated with copper mining in Zambia

Nevsun profit falls 40% despite beating Q1 production, cost guidance

By: Henry Lazenby Eritrea-focused Canadian miner Nevsun Resources has reported a 40% decline in net income attributable to shareholders for the three months ended March 31, as metal output at its flagship Bisha mine declined and the realised copper price fell 12% year-over-year. Net income attributable to Nevsun... 

Proxy advisory firm Glass Lewis sides with Taseko board

By: Henry Lazenby Proxy battle target Taseko Mines has reported that it had received a report from independent proxy advisory firm Glass Lewis & Co, recommending that shareholders oppose all proposals made by dissident Raging River Capital (RRC). According to Taseko, Glass Lewis made its recommendation in a... 

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall

By: Martin Creamer Diversified mining company Anglo American has produced less diamond, copper, coal, manganese alloy and niobium in the three months to March 31. Diamond production fell by 10%, copper production by 19%, export thermal coal by 13%, export metallurgical coal by 9%, Eskom coal by 8% and niobium by 13%. 

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall
Mark Cutifani

Tiger's costs climb as production falls

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has reported a slight decrease in production during the first quarter of 2016, which resulted in higher cash operating costs. Copper production during the three months to March reached 6 162 t, compared with the 6 557 t produced in the fourth quarter of... 

Oz on track after solid first quarter

By: Esmarie Swanepoel ASX-listed Oz Minerals was on track to meet its full year production expectations following a solid first quarter. The miner on Thursday reported that copper production during the three months to March had reached 31 018 t, compared with the 32 636 t produced in the previous quarter, while gold... 

Vale reports record output in Q1 as iron-ore price rallies

By: Henry Lazenby Brazilian diversified miner Vale has reported record iron-ore production at 77.5-million tonnes in the first quarter of 2016, marking the highest first-quarter production rate ever, despite output lowering 12% from the December quarter. Carajás, the world’s largest iron-ore mine, locate in... 

Key aspect of Chilean labour bill faces court battle – lawyers

By: Reuters A landmark labour reform bill in Chile is facing last minute roadblocks, and key parts will likely be gutted in court despite passing through both houses of Congress, lawyers say. The law, containing new rules intended to give unions more power, was passed by Chile's Senate in March after a... 

Rio Tinto’s Oyu Tolgoi lifts gold guidance after strong start to 2016

By: Henry Lazenby Rio Tinto subsidiary Turquoise Hill Resources, which owned a 66% interest in the significant Oyu Tolgoi copper/gold mine, in Mongolia, on Tuesday said the mine’s first quarter performance was so strong, that it hiked its full-year production guidance. For the three months ended March 31,... 

Arizona issues temporary permit for Taseko’s Florence in situ copper project

By: Creamer Media Reporter TSX-listed Taseko Mines had last week received a temporary aquifer permit for the company’s Florence Copper in situ project, in Arizona. Vancouver-based Taseko commented on Thursday that the decision by Arizona’s Department of Environmental Quality to move the permit amendment forward into a... 

Denham Capital seeks upside advantage during downturn

By: Simon Rees With most metals reaching a bottom, and many of the ‘zombie juniors’ finally laid to rest, opportunities for private-equity companies to find value and upside potential in the mining space have continued to grow. Seeking to tap into these opportunities, private equity firm Denham Capital was... 

Denham Capital seeks upside advantage during downturn
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