R/€ = 16.48 Change: 0.18
R/$ = 14.04 Change: 0.11
Au 1276.32 $/oz Change: -13.68
Pt 922.00 $/oz Change: -26.00

Copper News

Copper Mountain to acquire Altona in A$93m deal

By: Megan van Wyngaardt     20th November 2017 TSX-listed Copper Mountain Mining Corporation (CMMC) on Monday announced that it would buy ASX-listed Altona Mining for A$93-million, giving the company access to the undeveloped Cloncurry copper project, in Queensland. The project holds a measured and indicated mineral resource containing more... 

Queensland’s Capricorn copper mine reopens

By: Creamer Media Reporter      20th November 2017 he Capricorn copper mine, in near Mount Isa, in Queensland, has produced its first copper concentrate and has officially been declared open. The mine, jointly owned by private equity fund EMR Capital and mining group Lighthouse Minerals, will produce about 30 000 t/y of copper in concentrate over... 

Finders expects lower Dec quarter copper output, higher costs

By: Esmarie Swanepoel     17th November 2017 Copper miner Finders Resources reported on Friday that a delay at its Wetar copper project, in Indonesia, would see quarterly production remain below par. The company lowered its copper cathode production for the December quarter to be between 4 000 t and 5 000 t, from a previous estimate of... 

Finders expects lower Dec quarter copper output, higher costs

Fire hits Freeport Indonesia port facility in Papua

By: Reuters     17th November 2017 A fire broke out at the main port used by copper miner Freeport-McMoRan Inc in Papua, Indonesia, on Thursday night, the company said. The fire occurred at the Amamapare port in a plant where copper concentrate from the giant Grasberg copper mine is processed before loading onto vessels for... 

Cobalt hedging not mining the route for VW in EV drive

By: Reuters     17th November 2017 Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said. Demand for cobalt is expected to soar as carmakers rush to embrace electric vehicles (EVs) in response to governments... 

Zambian mining sector edging closer to ‘zero harm’

By: Nadine James     17th November 2017 The atmosphere at the Zambian mining industry’s third annual Health and Safety Conference, held in Ndola on November 2 and 3, was particularly positive as, at the time, the industry was firmly on course for a fatality-free year, the Zambia Chamber of Mines (ZCM) reports. This was significant, as... 

Zambian mining sector edging closer to ‘zero harm’
KANSANSHI MINE A woman truck driver from Kansanshi mine sustained fatal injuries when the heavy-duty truck she was driving collided with another truck in the sole fatality in Zambia’s mining industry so far, this year

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA
Photo by Duane Daws
PAUL MILLER A significant volume of additional capital needs to be earmarked for every new mining project to account for risk associated with policy uncertainty

Orion initiates hitech regional exploration in Northern Cape

By: Martin Creamer     16th November 2017 Sydney- and Johannesburg-listed company Orion Minerals will from November 26 initiate an airborne survey across a large area of South Africa’s Northern Cape as part of a regional exploration programme that will make use of the latest available technology in an area last explored in the 1980s.... 

Orion initiates hitech regional exploration in Northern Cape
A SkyTEM survey operation.

Investor TCI demands UK's LSE answer more questions in board tussle

By: Reuters     16th November 2017 Activist investor TCI has demanded the London Stock Exchange answer a series of questions ahead of a shareholder meeting called by the fund to oust the chairperson over his handling of the planned replacement of its chief executive. Among the questions TCI wants answered by the LSE board before... 

Orion’s shares rise on Prieska metallurgical testwork update, loan facility extension

By: Megan van Wyngaardt     15th November 2017 Dual-listed base metals miner Orion Minerals’s share price on the JSE was trading 6.15% higher on Wednesday after the company announced the positive results from initial metallurgical test work at its Prieska zinc/copper project and the extension of a loan facility. Orion and mining-focused,... 

Savannah secures enviro permits for Oman copper projects

By: Creamer Media Reporter      15th November 2017 Aim-quoted Savannah Resources has been granted environmental operating permits for the first two of a series of planned copper mine developments in Oman, marking a “major breakthrough” for its development plans, CEO David Archer announced on Wednesday. The Ministry of Environment and Climate... 

Polish copper producer KGHM cuts 2017 investment and output targets

By: Reuters     15th November 2017 Polish copper producer KGHM cut its 2017 capital investment to around 510-million zlotys ($141.88-million) from an expected 1.02-billion due to the improving results of its foreign assets, the company said on Wednesday. The state-run firm also said that this year's output of electrolytic copper... 

Apple leads way in tracing cobalt from Congo, Microsoft lags – Amnesty

By: Reuters     15th November 2017 Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group's conclusions published on Wednesday. 

China's copper smelters insist no concentrate deficit after surprise Shanghai meeting

By: Reuters     15th November 2017 China's top copper smelters held an unscheduled meeting in Shanghai on Tuesday to reaffirm their position that there will be no shortage of copper concentrate supply in 2018 as the key contract renegotiation season hots up. The 10 companies on the China Smelters Purchase Team (CSPT) met to... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

Glencore is said close to creating mining royalty company
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Winmar withdraws from Spain JV, reduces salaries by 50%

By: Mariaan Webb     14th November 2017 Australia’s Winmar Resources has slashed its staff salaries and directors fees by half to minimise cash outflows until it has secured a new lead project. The announcement on Tuesday comes a day after the company said that it had withdrawn from the Lomero joint venture project with Kimberly... 

Namibia Rare Earths expands metals portfolio

By: Henry Lazenby     10th November 2017 TSX-V-listed project developer Namibia Rare Earths has signed an agreement with private firm Gecko Namibia to acquire a controlling interest in a portfolio of seven metals properties, thereby expanding its focus from heavy rare earths to include cobalt, copper, zinc, lithium, graphite, tantalum,... 

Miner Vedanta continues its recovery with robust first-half profits

By: Reuters     10th November 2017 Diversified miner Vedanta Resources said it sees further upside for zinc prices as it announced a 37.4% rise in half-year profit on Friday. A rebound in metals prices has prompted the miner to expand production of zinc and aluminium, enabling it to continue its recovery after being particularly... 

New Alliance to ensure responsible cobalt supply from Africa

By: Robyn Wilkinson     10th November 2017 Joining other international businesses and organisations at the inaugural World Economic Forum Sustainable Development Impact Summit, held in New York from September 18 to 19, diversified miner Eurasian Resources Group (ERG) helped launch the Global Battery Alliance. 

New Alliance to  ensure responsible cobalt supply  from Africa
CONFLICT-FREE OPERATION ERG’s Metalkol Roan Tailings Reclamation project will supply 14 000 t/y of responsibly mined cobalt to the global market in 2018

Political tension slows mining activity in Tanzania

By: Victor Moolman     10th November 2017 Despite the fact that political tension in Tanzania has impacted the mining industry, with several operations subsequently closing, SEW-EURODRIVE continues to have a strong presence in the country, with Tanzania as its main hub for East Africa. SEW-EURODRIVE South Africa national sales manager... 

Political tension  slows mining activity in Tanzania
NORMAN MALEKA There will be demand for after-sales support in Tanzania, owing to new industries established in the country

Zambian chamber lauds Chile as model of what mining can achieve with the right policies

By: Ilan Solomons     10th November 2017 A two-person team from Chile’s mining industry recently visited Zambia and met with the Zambian Chamber of Mines (ZCM), the Presidency, the Zambia Revenue Authority’s Mineral Value Chain Monitoring Project and Zambia Consolidated Copper Mines Investment Holdings. The ZCM believes that Zambia can... 

Zambian chamber lauds Chile as model of what mining can achieve with the right policies
Photo by Codelco
LONG-TERM VISION Chile place’s great emphasis on due process and the rule of law, when it comes to their mining industry; even where it might not be to the country’s short-term benefit

Mining technology gets boost from new Wits-Sibanye partnership

By: Martin Creamer     9th November 2017 Mining technology is being given a Fourth Industrial Revolution boost through the new partnership struck between precious metals mining company Sibanye-Stillwater and the Wits Mining Institute. Wits Mining Institute director Professor Fred Cawood outlined in a news release on Thursday that... 

EY's Canadian Mining Eye Index trends positively in Q3

By: Creamer Media Reporter      9th November 2017 The EY Canadian Mining Eye index gained 2% during the third quarter, following a 7% decline in the prior period. The gain was driven by increases across the board in precious and base metals. "As commodity prices continue to increase, appetite for investment in existing projects is expected to... 

Prieska zinc/copper project delivers further positives

By: Creamer Media Reporter      8th November 2017 Dual-listed Orion Minerals on Wednesday reported further positive results from its ongoing drilling programme at the Prieska zinc/copper project, in the Northern Cape. The company said in a drilling update that the assay results received confirm significant zinc and copper mineralisation over the... 

KGHM considers $246m loan from European Investment Bank

By: Reuters     8th November 2017 Polish copper producer KGHM is considering taking a loan from the European Investment Bank (EIB) worth 900-million zlotys ($246.37-million) to invest in making production more effective, the company said on Tuesday evening. The loan agreement could be signed for 12 years in Polish zloty, US... 

Phoenix Global embarks on ambitious plan to restart Empire copper mine, Idaho

By: Henry Lazenby     8th November 2017 Aim-listed copper junior Phoenix Global Mining has formulated an ambitious growth strategy to restart mining at the brownfields Empire copper mine, in Idaho, by 2020. The company made its debut on the LSE's Aim market late in June, with the aim of bringing the historic mine back into production,... 

Phoenix Global embarks on ambitious plan to restart Empire copper mine, Idaho
Photo by Phoenix Global Resources
Drilling underway at Phoenix Global Resources' Empire mine, Idaho

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate
Photo by Creamer Media
Investing in African Mining Indaba MD Alex Grose (right) and Martin Creamer

Harmony ups output, cuts costs, improves margins

By: Martin Creamer     7th November 2017 Gold-mining company Harmony produced 14% more gold in the three months to September 30, when it cut unit costs by 8% and improved the margins of profit at its South African operations. Excellent operational performance was responsible for the margin improvement and last month’s acquisition of the... 

Harmony ups output, cuts costs, improves margins
Photo by Duane Daws
Harmony Gold CEO Peter Steenkamp

China urged to ease reliance on DRC for cobalt

By: Reuters     7th November 2017 China is depending too much on the Democratic Republic of Congo (DRC) for cobalt, a crucial component in electric vehicle (EV) batteries, and should take steps to ensure security of supply, delegates said at an industry conference on Tuesday. China, the world's top cobalt consumer, is... 

Canadian junior mining sector riding renewed wave of confidence

By: Henry Lazenby     7th November 2017 Despite signs of improved investor confidence in Canada's prolific junior mining sector – mainly driven by rising consumer technology demand for resources – analysts are warning that the market recovery is in a delicate phase and will require discipline to survive until more substantial commodity... 

Canadian junior mining sector riding renewed wave of confidence

Copper Mountain swings to Q3 headline profit as mine performs above plan

By: Henry Lazenby     7th November 2017 The TSX-listed stock of British Columbia-focused miner Copper Mountain Mining has jumped more than 12% on Monday trading, after the company reported a higher-than-expected headline profit, on account of the mine performing above plan. The Vancouver-headquartered miner that operates its flagship... 

DRC’s State mining company hiding revenues – Carter Center

By: Martin Creamer     6th November 2017 Certain revenues of Democratic Republic of Congo (DRC) State mining company Gécamines are not directed to the public treasury and are largely beyond the realm of public oversight, resulting in the DRC and its people being deprived of many of the benefits of its rich minerals endowment, the Carter... 

DRC’s State mining company hiding revenues – Carter Center
Former US President Jimmy Carter

Congo copper production up 9% in first nine months of year

By: Reuters     6th November 2017 Copper production in Democratic Republic of Congo, Africa's top producer of the metal, was up by 9.3% this year through September, at 831 000 tonnes, the central bank said on Monday. The bank also said in a monthly report that cobalt production increased by 18% to 59 000 tonnes and gold... 

CAML the new owner of Macedonia’s Sasa mine as takeover is completed

By: Creamer Media Reporter      6th November 2017 London-based Central Asia Metals Limited (CAML) is officially the new owner of the Sasa mine in Macedonia, after the company on Monday concluded the acquisition of Lynx Resources and was readmitted to trading on Aim. The $402.5-million acquisition has diversified CAML’s base metal production... 

Orion issues first tranche of shares in capital raising

By: Natasha Odendaal     3rd November 2017 ASX- and JSE-listed Orion Minerals on Friday issued the first tranche of shares as part of a two-tranche capital raising. The company aims to raise $5.5-million at an issue price of 2.4c an ordinary fully paid share to fund the resource drilling campaign at the Prieska zinc/copper project, to... 

Congo State miner failed to log $740m in revenues, report says

By: Reuters     3rd November 2017 Democratic Republic of Congo's State mining company failed to internally register $740-million in income between 2011-2014, much of which is now untraceable, the Carter Center said in a report on Friday. The amount makes up two-thirds of the $1.1-billion that the copper producer was entitled to... 

Kyrgyzstan reverses Bozymchak suspension

By: Creamer Media Reporter      3rd November 2017 The Kyrgyzstan government has cancelled the suspension of operations at the Bozymchak mine and full production has resumed, KAZ Minerals reported on Friday. The London-listed company announced on Thursday that the government had suspended operations at the gold and copper mine for three months.... 

BHP aims for more copper, oil; steers away from EV minerals

By: Reuters     3rd November 2017 The world's biggest miner BHP's response to the electric vehicle debate is to hunt for new reserves of copper and oil, while seeking a buyer for its assets to produce battery-grade nickel and steering clear of lithium and cobalt. Arnoud Balhuizen, chief commercial officer at BHP, has said 2017... 

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