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Copper News

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

BHP restarts Olympic Dam mine shut after power outage

By: Reuters     28th September 2016 BHP Billiton said its Olympic Dam copper, gold and uranium mine was temporarily shut before being restarted with back up generation following a power outage in South Australia state. "Following the loss of power in South Australia, Olympic Dam was able to safely shut down, and start back up... 

Mining Commissioner issues final order on Cliffs' bid over KWG rail claims

By: Henry Lazenby     28th September 2016 The Mining and Lands Commission of Ontario has made a final order, paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of KWG subsidiary Canada Chrome Corporation... 

Chile regulator approves $19m environment plan at KGHM copper mine

By: Reuters     27th September 2016 Chile's environmental regulator said on Tuesday it has approved a $19.1-million mitigation plan presented by KGHM's Sierra Gorda copper mine, after it found nine infractions at the operation. In March, the SMA environmental regulator pressed charges against Sierra Gorda, saying the copper mine... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise

By: Henry Lazenby     27th September 2016 Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its exposure to stronger steelmaking coal and zinc markets, as well as from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise
Photo by Bloomberg
The zinc, lead and silver smelter of Vancouver-based diversified miner, Teck Cominco, the world's largest zinc producer _ Bloomberg

Illegal mining out of control – Mine Rescue Services

By: Natasha Odendaal     27th September 2016 A surge in the number of mine rescues and recoveries at abandoned and disused operations is an indication that the illegal mining scourge is starting to spiral out of control, and the recorded incidents are just the tip of the iceberg. The Chamber of Mines and Mine Rescue Services (MRS) on... 

Illegal mining out of control – Mine Rescue Services
Photo by Duane Daws
Mine Rescue Services CEO Christo de Klerk

OceanaGold's shares hit on Philippine audit outcome

By: Mariaan Webb     27th September 2016 Shares in Melbourne-headquartered OceanaGold fell 8% on Tuesday before trading was halted, after the Philippine government’s nationwide environmental mine audit recommended the suspension of the company’s flagship Didipio gold and copper mine on the island of Luzon. The environmental check-up,... 

OceanaGold's shares hit on Philippine audit outcome
The Philippines government has recommended the suspension of Australian miner OceanaGold's Didipio mine.

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Teck submits regulatory application for $5bn Quebrada Blanca Phase 2

By: Henry Lazenby     27th September 2016 Canadian diversified miner Teck Resources is moving ahead with the $4.5-billion to $5-billion second-phase development of its Quebrada Blanca (QB) copper mine, in Northern Chile. The company has submitted the social- and environmental-impact assessment for the project to the Tarapacá... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

Fraser Alexander’s structured funding offering to revolutionise mining industry – CEO 

By: Mia Breytenbach     26th September 2016 Mining Services and construction company Fraser Alexander has, as part of repositioning its business value proposition, introduced a structured funding offering to its Integrated Mining Service (IMS) for its clients. CEO Velile Nhlapo believes this value proposition will “revolutionise the mining... 

Fraser Alexander’s structured funding offering to revolutionise mining industry – CEO
Mining Services and construction company Fraser Alexander has, as part of repositioning its business value proposition, introduced a structured funding offering to its Integrated Mining Service for its clients. Video and editing: Darlene Creamer 26.9.2016

PricewaterhouseCoopers gets buyer for liquidated Botswana mine

By: African News Agency      26th September 2016 PricewaterhouseCoopers (PwC) says it has finally identified a buyer for African Copper’s Mowana mine in Botswana, almost a year after it was liquidated over a P47-million debt. The closure of the mine, which is located in the Dukwi area of northern Botswana, led to the retrenchment of more than... 

Carbine delays Mt Morgan DFS to December quarter

By: Creamer Media Reporter      26th September 2016 ASX-listed carbine Resources has extended the delivery of the definitive feasibility study for its Mount Morgan project, in Queensland, to the December 2016 quarter to allow for additional time to assess the possible relocation of the processing plant. Relocating the plant from its original... 

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Gecamines says Lundin withdrawal from Congo would be problematic

By: Bloomberg     23rd September 2016 Gecamines, the Democratic Republic of Congo’s State-owned miner, warned that any decision by Lundin Mining to withdraw from the Tenke Fungurume copper mine could scupper Freeport McMoRan Inc.’s proposed sale of its stake in the project. By exiting at the same time as Freeport and transferring... 

Rambler ramps up output, meets or exceeds most 2016 targets

By: Henry Lazenby     22nd September 2016 Rambler Metals and Mining has met or exceeded most of its production targets for the 2016 fiscal year ended July 31 at its flagship Ming mine, in Newfoundland and Labrador. While copper concentrate grades at 26.9% fell just short of the lower end of its targeted 27% to 29% guidance, gold and... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables

By: Creamer Media Reporter      20th September 2016 Renewable-energy sources have reached the stage where they can reduce energy costs as well as emissions, Barrick Gold’s senior manager of energy and greenhouse gases (GHGs), Russell Blades, tells Energy and Mines. “We are seeing a ‘perfect storm’ brewing around renewables. Solar and energy... 

Barrick sees ‘perfect storm’ brewing around cost-effective renewables
Photo by Energy & Mines
Barrick's 20 MW Punta Colorada wind farm, Chile

Taseko in hot pursuit of Gibraltar’s high-grade copper core

By: Henry Lazenby     20th September 2016 The TSX-listed stock of copper producer Taseko Mines spiked up to 13.33% on Tuesday morning on news that the company has discovered a new high-grade copper deposit at its Gibraltar mine, in British Columbia. Vancouver-based Taseko has intersected more than 341.4 m of varying copper grades at its... 

Taseko in hot pursuit of Gibraltar’s high-grade copper core

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

South African gold and diamond miners shine, base metals face slow recovery

By: African News Agency      20th September 2016 Moody’s Investors Service on Tuesday said South African gold and diamond miners’ credit quality had good prospects to continue strengthening. Moody’s assistant VP Douglas Rowlings said the gold and diamond miners that the agency rated in South Africa had already re-set their operations to... 

Cost-conscious major miners look to agility of junior explorers

By: Reuters     20th September 2016 Tight budgets and nervous investors have convinced major miners that a cheap, timely way to ensure a strong pipeline of quality assets is to team up with junior, more nimble exploration firms. Miners have slashed costs by delaying projects, sold assets and cut exploration budgets to free up cash... 

Updated PFS shows Seabridge’s KSM profitable at current prices

By: Henry Lazenby     20th September 2016 British Columbia-focused Seabridge Gold has published an updated preliminary feasibility study (PFS) on its Kerr-Sulphurets-Mitchell (KSM) project, updating the project capital and operating costs to the 2016 economic environment. The company said on Monday that, building on a similar treatise... 

Nautilus pushes Solwara 1 production out by 12 months, revises work programme

By: Henry Lazenby     16th September 2016 Cash-strapped marine mining pioneer Nautilus Minerals has pushed out the start of production from the offshore Papua New Guinea (PNG) Solwara 1 project by about 12 months from the original schedule, citing a cash crunch. In providing an update on company activities Friday, CEO Mike Johnston... 

Nautilus pushes Solwara 1 production out by 12 months, revises work programme

Years-long copper glut can still flush out deals for Antofagasta

By: Bloomberg     16th September 2016 As metals from silver to zinc rally, copper is stuck in a glut that will probably last another two or three years, and that may flush out bargains, according to Antofagasta. Until now, the copper miner controlled by Chile’s wealthiest family hasn’t seen opportunities that are attractive enough... 

Years-long copper glut can still flush out deals for Antofagasta

Foundry and engineering company clinches several contracts

By: David Oliveira     16th September 2016 Foundry and engineering company Thos Begbie & Co received a number of orders recently to refurbish and manufacture furnace and smelting equipment, after orders from Southern Africa furnace operators dropped significantly from November last year to July this year. Thos Begbie & Co outgoing CEO... 

US mining industry in flux as policy, economic and enviro challenges force change

By: Henry Lazenby     16th September 2016 The outcome of the November 2016 US presidential election will not reverse the decline in the US mining industry value, as the beleaguered coal industry continues to face market headwinds. Rather, the results will determine the trajectory of environmental regulations and, therefore, raise or... 

US mining industry in flux as policy, economic and enviro challenges force change

Miners find investment boost in crowdfunding for venture capital

By: Creamer Media Reporter      15th September 2016 Crowdfunding is an innovation that is slowly catching up with the mining industry. Some old investors may think it's odd for the sector; some might typically associate it with young people raising funds online for worthy causes or to realise and sell inventions. 

Lundin gets another extension on right of first refusal to Freeport’s Tenke Fungurume

By: Henry Lazenby     15th September 2016 Diversified Canadian base metals miner Lundin Mining got a two-week extension to its right of first refusal on US diversified miner Freeport McMoRan’s (FCX’s) 70% indirect interest in TF Holdings, which holds 80% of the world-class Tenke Fungurume copper/cobalt mine, in the Democratic Republic of... 

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Finders cuts back on debts

By: Esmarie Swanepoel     15th September 2016 Copper miner Finders Resources has realised $42.5-million in debt reduction following the restructure of its copper hedge. The miner told shareholders on Thursday that it had completed a restructure of its current copper hedge book of 38 126 t, closing a total of 21 650.5 t, and adjusting a... 

Finders cuts back on debts

Fortune welcomes mining veteran Koropchuk to board

By: Henry Lazenby     15th September 2016 Cobalt project developer Fortune Minerals has appointed mining veteran Glen Koropchuk to its board. Koropchuk, with more than 30 years of mining experience, most recently served as COO of Anglo American affiliate De Beers Canada and was responsible for operations at the Snap Lake and Victor... 

Volvo places self-driving truck in operation at underground mine 

By: Irma Venter     14th September 2016 The Volvo Group has put a fully autonomous truck to the test at underground operations at the Kristineberg mine, 100 km from Arvidsjaur, in northern Sweden. The mine was opened in 1940 and is the oldest in operation in the Boliden area. A polymetallic ore containing zinc, copper, lead, gold and... 

Volvo places self-driving truck in operation at underground mine
The Volvo FMX self-driving truck enters operations at the Kristineberg mine

Alacer studies second mine in Turkey

By: Mariaan Webb     14th September 2016 TSX- and ASX-listed Alacer Gold is advancing a second project in Turkey to detailed study phase, following the completion of a prefeasibility study (PFS), which demonstrates the Gediktepe project’s technical and financial feasibility. The PFS established a maiden resource and reserve for the... 

First global rankings of renewables use by mining companies to be released

By: Creamer Media Reporter      14th September 2016 Renewable energy information provider to the mining industry Energy and Mines has released the initial results of the first global rankings of renewables used by mining companies, identifying that the top 21 mining companies use wind and solar energy to power their operations. The ‘Energy and... 

Ivanhoe starts supplying power from first of three DRC hydropower plant upgrades

By: Henry Lazenby     14th September 2016 Ivanhoe Mines has started supplying electricity to the Democratic Republic of Congo (DRC) national grid from the first of three hydropower plants it has agreed to upgrade in collaboration with its joint venture (JV) partners. Ongoing upgrading work at the Mwadingusha hydropower plant, financed by... 

Icahn endorses Freeport's efforts to reduce debt, explore options

By: Reuters     13th September 2016 Activist investor Carl Icahn, the third-largest shareholder in Freeport McMoran, said on Tuesday that he endorsed the US miner's efforts to reduce debt and explore strategic alternatives. Icahn's comments come a day after Freeport said it would sell its deepwater Gulf of Mexico oil and natural... 

Anadarko to buy Freeport’s deepwater Gulf of Mexico assets for $2bn

By: Henry Lazenby     13th September 2016 Anadarko Petroleum said Monday after market close that it would buy deepwater Gulf of Mexico assets from Freeport McMoRan for $2-billion. It will pay for the acquisition through a new stock offering of 40.54-million shares, including an overallotment option, which is valued at $2.34-billion at... 

Anadarko to buy Freeport’s deepwater Gulf of Mexico assets for $2bn

Mining needs disruptive digital change, Electra Mining conference hears

By: Martin Creamer     12th September 2016 The mining industry, which has a past of intervening with key technologies at critical times, is currently at an important leverage point that requires disruptive change. Envisaged is that disruptive change will be supported by the interaction of people, process and technology and definitely not... 

Mining needs disruptive digital change, Electra Mining conference hears
Photo by Duane Daws
Telstra Mining Services head Jeanette McGill
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