R/€ = 15.22 Change: -0.02
R/$ = 13.99 Change: -0.10
Au 1267.44 $/oz Change: 1.17
Pt 933.00 $/oz Change: -2.00

Copper News

Top copper miner gets reprieve as Chile signals more funding

By: Bloomberg     21st October 2016 Codelco’s prospect of remaining as the world’s biggest copper miner received a boost on Thursday as Chile signaled it will increase funding for the state company to overhaul aging mines and head off a slump in output. Chile is already investing a lot in Codelco and will have to provide “slightly... 

Oz lowers gold output forecast, copper on target

By: Esmarie Swanepoel     21st October 2016 Copper-gold miner Oz Minerals has downgraded its gold expectations for the full 2016, following the blackout at its Prominent Hill mine, in South Australia, in September, and the preferential treatment of copper ore. While the miner has previously warned that gold production would be at the... 

Oz lowers gold output forecast, copper on target

World Bank raises 2017 price outlook for oil and metals

By: Terence Creamer     20th October 2016 The World Bank has increased its 2017 price outlook for both metals and oil in its latest ‘Commodity Markets Outlook’, raising its October forecast for crude oil to $55/bl, from $53/bl in July. It has, however, sustained its forecast for an average oil price of $43/bl in 2016. Energy prices,... 

World Bank raises 2017 price outlook for oil and metals

Oyu Tolgoi sets all-time high for quarterly mined material in Q3

By: Samantha Herbst     20th October 2016 Rio Tinto subsidiary Turquoise Hill Resources’ Oyu Tolgoi mine, in Mongolia, set an all-time high of 25-million tonnes of quarterly mined material in the third quarter of 2016, including stripping for Phase 4 of the project, which is the next area of high-grade ore. CEO Jeff Tygesen said the... 

Oyu Tolgoi sets all-time high for quarterly mined material in Q3
Oyu Tolgoi, Mongolia

Groundwater inflow limits Tschudi’s Q1 copper production

By: Mia Breytenbach     20th October 2016 Aim-listed Weatherly International’s Tschudi openpit copper mine, in Namibia, delivered 3 641 t of copper cathode in the quarter ended September 30, in line with expectations informed by the excessive rates of groundwater inflow into the openpit. Although output for the first quarter of the 2017... 

Brazil to offer thousands of mineral rights areas in H1 2017

By: Reuters     20th October 2016 Brazil's government plans to sell rights to as many as 22 000 mineral exploration areas in the first half of 2017, the president of the country's geological service (CPRM) Leonardo Ledsham said on Wednesday. Brazil also plans to sell nine large, strategic mining projects, he said, including: the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told 

By: Martin Creamer     19th October 2016 Water-constrained Gauteng may see an acid mine drainage (AMD) quick-fix in order to save the fresh water from the Lesotho Highlands Water Project from being wasted on AMD dilution instead of being available to the economy, environmental adviser Dr Anthony Turton said on Wednesday. Delivering the... 

Acid mine water quick-fix possible as water deficit looms, Oppenheimer, De Beers told
Photo by Duane Daws
Environmental adviser Dr Anthony Turton

Mount Milligan crushing circuit almost on line

By: Megan van Wyngaardt     19th October 2016 North American mining company Thompson Creek Metals has started commissioning major equipment and components at its British Columbia-based Mount Milligan openpit copper and gold mine’s permanent secondary crushing circuit.  Routine testing and commissioning of all equipment and process circuits... 

Congo miner challenges Freeport sale of Tenke mine in international court

By: Reuters     19th October 2016 Democratic Republic of Congo state miner Gecamines has challenged Freeport McMoRan Inc's sale of its majority stake in the Tenke copper mine at the International Court of Arbitration in Paris, Gecamines said on Wednesday. Gecamines Secretary-general Deogratias Ngele told Reuters that Gecamines... 

Codelco unions say mulling company-wide strike at Chile's copper mines

By: Reuters     19th October 2016 Unionised workers at Chile's State-owned copper miner Codelco are mulling going on a company-wide strike, possibly by mid-November, if the government does not make progress on a number of demands, union leaders told Reuters on Tuesday. Codelco, the world No 1 copper producer, returns all its... 

Wetar to reach nameplate by year-end

By: Esmarie Swanepoel     18th October 2016 The Wetar copper project, in Indonesia, is expected to reach its nameplate capacity of 25 000 t/y of copper cathode by the December quarter, owner Finders Resources said on Tuesday. The company reported that the copper cathode solvent extraction and electrowinning (SX-EW) plant had plated over 4... 

Peru protester shooting death at MMG mine sparks police probe

By: Bloomberg     18th October 2016 Peru’s government is investigating police conduct during demonstrations against MMG Ltd.’s giant Las Bambas copper mine on Friday that left one protester dead. Interior Minister Carlos Basombrio said a man was shot in the head and 20 police officers were injured during clashes near the mine in... 

CuDeco ships first sulphide copper

By: Esmarie Swanepoel     17th October 2016 ASX-listed CuDeco has shipped its first sulphide copper concentrate from its Rocklands copper mine, in Queensland, to customers in China. The company on Monday reported that 4 635 t of sulphide copper concentrate was shipped through the Port of Townsville on October 15, under an existing offtake... 

OceanaGold loses compensation claim against El Salvador

By: Reuters     15th October 2016 OceanaGold has lost a claim seeking some $284-million in compensation from El Salvador for failing to issue permits allowing it to dig a gold mine in the Central American country, according to an arbitration decision announced on Friday. The World Bank's International Centre for Settlement of... 

Antofagasta says will defend against regulator's charges

By: Reuters     15th October 2016 Chile's Antofagasta Minerals said on Friday it would present a defence after Chilean regulators accused the company late Thursday of mismanaging water resources and nearby plant life at its Los Pelambres copper mine. The company said there were some errors in the information that led Chilean... 

Geoscience BC opens door to small-time project generator

By: Henry Lazenby     15th October 2016 A British Columbia-focused gold explorer has staked several claims and conducted sampling exercises as a direct consequence of nonprofit organisation Geoscience BC unveiling data early this year from the first phase of a systematic geomagnetic survey for the mapping of the province's public... 

Energy metal demand to outpace output in wake of $20bn battery build boom

By: Henry Lazenby     14th October 2016 “The megafactories are coming.” This is the mantra of market analyst, founder and MD of Benchmark Mineral Intelligence Simon Moores, citing research showing more than $20-billion currently committed to creating new, or expanding existing lithium- (Li-) ion battery cell plants.  

Energy metal demand to outpace output in wake of $20bn battery build boom
Photo by Reuters
Lithium-ion batteries being manufactured

Chile regulator draws up charges against Antofagasta's Los Pelambres mine

By: Reuters     14th October 2016 Chile's environmental regulator on Thursday drew up various charges against the Los Pelambres copper mine for mismanaging water resources and nearby flora, charges which could lead to stiff fines or even closure. "In all, nine charges have been brought for detected non-compliance relating to its... 

Global decrease in exploration activity

     14th October 2016 Lower commodity prices, market instability, reduced investment and increased environmental awareness, have been cited as reasons for the global decrease in exploration activity by scientific agency for natural sciences the US Geological Survey (USGS). The agency released its yearly report on... 

Global decrease in exploration activity
EXPLORATION EMPHASIS Global exploration activity last year predominantly comprised of gold and copper exploration

Ivanhoe releases maiden Kakula resource, confirms project as Africa’s largest-ever copper discovery

By: Henry Lazenby     13th October 2016 Following the release of a maiden resource statement for the Kakula discovery, which forms part of the larger Kamoa project, Africa-focused project developer Ivanhoe Mines has confirmed the Democratic Republic of Congo- (DRC-) based project as the largest copper discovery ever made on the... 

Ivanhoe releases maiden Kakula resource, confirms project as Africa’s largest-ever copper discovery

Mining juniors poised for recovery – PwC

By: Henry Lazenby     13th October 2016 Junior mining companies make up more than 50% of the total market capitalisation on the TSX Venture Exchange, up from 36% on June 30, 2015, a new report by professional services firm PwC has found. As evidenced in PwC Canada's 2016 Junior Mine report, titled ‘Signs of Life’, cash flows from... 

Four key themes to dominate mining in the Americas – report

By: Henry Lazenby     13th October 2016 Miners in both North and South America will remain focused on improving operational performance over the coming years, while divergent regulatory policies will either improve or worsen the industry’s welfare, recent analysis by market intelligence firm BMI Research shows. According to the think... 

Four key themes to dominate mining in the Americas – report

Chile copper output seen down 3.9% in 2016, up 5.5% in 2017

By: Reuters     12th October 2016 Chile's State copper commission Cochilco forecast on Wednesday that Chilean copper production would fall 3.9% in annual terms in 2016 to 5.4-million tonnes, before rising 5.5% in 2017 to 5.85-million tonnes. Both numbers are downward revisions from Cochilco's last forecast in July, when the body... 

BC govt approves exploration adit at Seabridge’s growing KSM mine

By: Henry Lazenby     12th October 2016 The Toronto-based developer of one of the world’s largest gold/copper mines Seabridge Gold has been given the go-ahead by the British Columbia provincial government to proceed with an exploration adit into the Deep Kerr gold/copper deposit at the KSM project, 65 km north-west of Stewart. The... 

In divergent strategy step-change, Denham targets later-stage projects

By: Henry Lazenby     11th October 2016 As the global mining markets turn a corner from what can be termed the biggest commodity downturn in living memory, private equity firm Denham Capital has changed tack, opting to invest in later-stage projects rather than driving exploration. Speaking to Mining Weekly Online from Houston, Texas,... 

In divergent strategy step-change, Denham targets later-stage projects

New mining money to be made as investment tide turns

By: Henry Lazenby     11th October 2016 There is a noted general perception among the investment community, including private equity firms and high-net-worth individuals, that there is some money to make again in the rebounding mining industry, PearTree Securities president Trent Mell tells Mining Weekly Online. “Following three years... 

New mining money to be made as investment tide turns

BHP JV partner reports positive drill results from Canada copper project

By: Samantha Herbst     11th October 2016 BHP Billiton joint venture (JV) partner Aston Bay Holdings has reported evidence of high-grade copper at the Storm copper project, in Nunavut, Northern Canada, following preliminary drill results from this year’s summer field season. TSX-V-listed Aston Bay, which owns 25% of the project, while... 

Atalaya on track to reach full-year guidance

By: Megan van Wyngaardt     11th October 2016 Europe-focused copper producer Atalaya Mining produced 8 752 t for the third quarter, ended September, indicating a 97% quarter-on-quarter increase, which is in line with its aim of producing between 23 500 t and 27 000 t before year-end. The miner’s recoveries also increased to 83.6% during the... 

BHP Billiton expects to thrive in a lower carbon emissions world

By: Reuters     10th October 2016 With the Paris climate accord set to come into force within weeks, top global miner BHP Billiton said it still expects its copper, oil and gas, iron-ore and coal businesses to thrive in a world with lower carbon emissions. The company, which favours a price on carbon, last year was one of the... 

SolGold turns down BHP proposal as interest in junior grows

By: Esmarie Swanepoel     10th October 2016 Mining giant BHP Billiton has offered to pay $30-million for a 10% interest in Aim-listed SolGold, but the Brisbane-based explorer has rejected the proposal and decided to stick with a $33-million financing deal with Maxit Capital and Newcrest Mining. In addition to a 10% shareholding in... 

Freeport reaches deal with workers to end Indonesia copper mine stoppage

By: Reuters     10th October 2016 Mining operations at Freeport-McMoRan's giant Grasberg openpit site in the Indonesian province of Papua "have returned to normal" after resolution of a labour dispute, the company said on Monday. "PT Freeport Indonesia and representatives of the PT Freeport Indonesia Chemical, Energy and Mining... 

Copper Mountain’s yearly guidance slightly ahead for 2016

By: Samantha Herbst     7th October 2016 Annual production is on track at TSX-listed copper and gold producer Copper Mountain Mining’s eponymous mine, in southern British Columbia, which produced 22-million pounds of copper, 8 170 oz of gold and 81 540 oz of silver in the third quarter, bringing production guidance slightly ahead for... 

Ivanhoe to publish maiden Kakula resource estimate soon

By: Megan van Wyngaardt     7th October 2016 Ivanhoe Mines expects to issue an initial mineral resource estimate for its Kakula discovery, which forms part of the Democratic Republic of Congo-based Kamoa copper project, by next week. The TSX-listed company, led by Lars-Eric Johansson, has been engaging in a 2016 drilling campaign at the... 

Rio Tinto awaits word on Mongolia's railway, power project investment 

By: Reuters     7th October 2016 Rio Tinto is waiting for word on the Mongolian government's efforts to attract investment for railway and power infrastructure projects that will boost the global miner's Oyu Tolgoi copper-gold mine, CE Jean-Sebastien Jacques said. The land-locked country sits on vast, untapped mineral wealth but... 

Rio Tinto awaits word on Mongolia's railway, power project investment
Oyu Tolgoi, Mongolia

Rio CEO says Mongolia won’t receive mine dividend for ten years

By: Bloomberg     7th October 2016 Rio Tinto Group said Mongolia won’t receive any dividend from the giant Oyu Tolgoi mine for ten years as the world’s second-biggest mining company prioritizes completing a $5.3-billion underground expansion. Oyu Tolgoi, which at its peak will be one of the top five copper mines in the world, is... 

Rio CEO says Mongolia won’t receive mine dividend for ten years
Rio Tinto CEO Jean Sebastien Jacques

Cerro Corona mine, Peru

By: Sheila Barradas     7th October 2016 A copper/gold mine, in northern Peru, on the eastern slope of the western mountain range of the Andes. 

Cerro Corona mine, Peru

Mechanical drives supplied for block cave mine development

By: Sascha Solomons     7th October 2016 Industrial components and technical expertise solutions provider Bearing Man Group (BMG) has supplied seven external mechanical drives for the Lift II extension project at Palabora Mining Company subsidiary Palabora Copper’s mine through South Africa-based project management and design... 

Mechanical drives supplied for block cave mine development
PALABORA COPPER MINES External mechanical drives for the lift II extension project have been delivered for the block-cave mine development

Chile's Codelco delays billions in investment as copper price bites

By: Reuters     5th October 2016 The world's biggest copper miner, Codelco, said it would delay some $2.25-billion worth of planned investment, as its profits have dried up due to weak prices globally for copper. The State-run company is part-way through an ambitious investment plan, with five major projects under way to expand... 

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