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Copper News

Anglo American sees no output impact from Los Bronces mine leak

By: Reuters     Updated 2 hours 29 minutes ago Anglo American said on Tuesday that a milling plant at its Los Bronces copper mine, in Chile, remained closed after a leak was detected over the weekend, but that it did not foresee any impact on production from the stoppage. The leak was found on farmland close to the capital Santiago during a... 

Taseko expects to benefit from BC’s power cost deferral programme

By: Henry Lazenby     Updated 6 hours ago Base metals producer Taseko Mines expects to benefit from recently announced planned support for struggling mining companies in British Columbia. Premier Christy Clark recently revealed that government was working on a plan to enable struggling mining companies to defer some of their “very... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures

By: Kim Cloete In light of tumbling commodity prices, global diversified metals and mining company Vedanta Resources has had to restructure costs across all of its businesses, including South Africa-based Gamsberg zinc project .  Vedanta Resources CEO Tom Albanese told delegates at the Investing in African... 

Vedanta rephases capex at Gamsberg as part of cost-cutting measures
Vedanta Resources CEO Tom Albanese

Copper loses its shine, for now

By: Kim Cloete Plunging copper prices have pushed the copper industry into a quandary, with global demand deteriorating to an even worse extent than many people realise, Bernstein senior research analyst Paul Gait told delegates at the 2016 Investing in African Mining Indaba this week. Gait noted, however, that... 

Chile copper production flat in 2015 – Cochilco

By: Reuters Copper production in Chile was largely flat in 2015 compared to the previous year, figures from state copper commission Cochilco showed on Monday, as production cuts in the face of falling market prices started to bite. Chile, the world's largest exporter of the base metal used in construction... 

Ok Tedi board approves PNG copper mine restart from March 1

By: Reuters Papua New Guinea copper miner Ok Tedi Mining Ltd said its board has approved a restart of its operations on March 1, more than five months after the mine was put on care and maintenance when drought cut off its transport links. The move will bring further metal to a copper market which is... 

Manaila mine

By: Sheila Barradas A polymetallic mine located in Suceava County, in northern Romania, 26 km from the town of Iacobeni. 

Manaila mine

Copper supply cuts no consolation for price bulls

By: Reuters An expected axing of copper miners' loss-making output this year may put a floor under the price of the metal, but weaker prospects for demand growth in top consumer China should curb any gains. Producers hoping prices would pick up have for months resisted output cuts. Many that are losing... 

Oz Minerals announces A$12m underground expansion at Prominent Hill

By: Esmarie Swanepoel Copper/gold miner Oz Minerals on Wednesday told shareholders that it would spend about A$12-million on expanding the underground capacity at its Prominent Hill mine, in South Australia Development on a second access decline would begin immediately, linking the existing underground development... 

Rambler reports 12th shipment of copper concentrate

By: Henry Lazenby TSX-V- and Aim-listed Rambler Metals and Mining has delivered about 8 000 wet metric tonnes (wmt) of copper and gold concentrate from its facility in Goodyear's Cove, Newfoundland and Labrador, marking the twelfth shipment completed since declaring commercial production at its Ming copper and... 

Freeport asks Indonesia to cut or postpone $530m smelter bond – mining minister

By: Reuters Freeport McMoRan Inc has asked Indonesia to reduce a $530-million smelter bond the local unit of the US copper mining giant must set aside before receiving an extension of its export permit, Indonesia's mining minister said on Tuesday. Freeport's 6-month copper concentrate export permit expired... 

Poland's Minister repeats may cut mining tax – media

By: Reuters Poland's treasury minister Dawid Jackiewicz was quoted as saying on Tuesday that he saw a possibility of cutting this year a tax on mining, which affects copper producer KGHM Polska Miedz. "Probably - but I say this only in the form of a guessing - we will end up with cutting the tax... 

RNI plays option at Doolgunna project

By: Esmarie Swanepoel Junior miner RNI would acquire the Doolgunna copper/gold project, in Western Australia, from Ascidian Prospecting. In 2010, RNI secured an option to acquire the project, and in June last year extended the option agreement. 

Nautilus takes delivery of seafloor production tools

By: Creamer Media Reporter Marine-mining pioneer Nautilus Minerals on Monday announced that the Solwara 1 Joint Venture (comprising Nautilus 85% and Eda Kopa (Solwara) Limited 15%) has taken delivery of the three seafloor production tools (SPTs) from British manufacturer Soil Machine Dynamics’ (SMD) facility, in Newcastle... 

Acquisitions establish Royal Nickel as copper, gold producer

By: Henry Lazenby Project developer Royal Nickel Corp (RNC) on Monday announced two acquisitions that would transform the company into a cash-generating low-cost nickel, copper and gold producer. The Toronto-based company’s TSX-listed stock gained as much as 31% on Monday to C$0.21 apiece, after the company... 

Acquisitions establish Royal Nickel as copper, gold producer
Photo by Hudbay Minerals
Reed mine, Manitoba

Doe Run to scale down production amid depressed prices, costs

By: Megan van Wyngaardt Depressed metals prices and higher operational and regulatory costs have pushed base metals miner Doe Run to reduce the production of lead contained in concentrates at its operations, in Missouri, by 20 000 t/y. It would also reduce the production of zinc and copper. 

Freeport's Indonesian copper mine production normal – union official

By: Reuters Production at Freeport McMoRan Inc's huge copper and gold mine in Indonesia is running at normal levels, a union official said on Monday, as talks continued between the government and US miner to resolve an export spat. Freeport, which runs one of the world's biggest copper mines in Papua, lost... 

Yellowhead curbs losses in 2015

By: Megan van Wyngaardt Owing to lower exploration and evaluation expenses in the fourth quarter, TSX-listed Yellowhead Mining narrowed its fourth-quarter loss from $1.76-million in 2014, to $614 000 for the three months ended December 31, 2015. Paired with a full-year decrease of $4.13-million in exploration expenses,... 

Chile produces 5.79Mt copper in 2015, virtually flat

By: Reuters Top copper producer Chile produced 5.79-million tonnes of the red metal in 2015, a slight 0.2% increase from a year earlier, even as some companies responded to a deep rout in metals prices with output cuts, government data showed on Friday. In December, Chile churned out 495 953 t of copper, a... 

Chile produces 5.79Mt copper in 2015, virtually flat

Tiger overshoots FY guidance to deliver 26 151 t in 2015

By: Natalie Greve ASX-listed Tiger Resources has overshot its 2015 production guidance by 5% to deliver 26 151 t of copper, benefitting from a consistent performance from its Democratic Republic of Congo-based Kipoi project. A record 345 001 t of ore was stacked during the fourth quarter as part of Kipoi’s... 

Freeport loses right to export from Indonesia copper mine, talks ongoing

By: Reuters Freeport McMoRan Inc on Friday lost its right to export copper concentrate, valued at more than $1-billion, from one of the world's biggest mines, as talks with Indonesia's government remained deadlocked over payment for a new metal smelter. Freeport's six-month licence to export concentrate... 

Aitik mine, Sweden

By: Sheila Barradas A copper/gold/silver mine located to the south of Gällivare, in northern Sweden. 

Aitik mine, Sweden

Crucial decision needed on empowerment levels

By: Nadine James An urgent court judgment needs to be made to determine the empowerment levels in South Africa’s mining industry, as this will most likely impact on the future alignment between the Department of Trade and Industry (DTI) codes and the Mining Charter, stresses Cliffe Dekker Hofmeyr director of... 

Crucial decision needed on empowerment levels
ALLAN REID Aligning the Mining Charter with the Department of Trade and Industry codes will be challenging, regardless of the Department of Mineral Resources' 12-month extension

Delayed MPRDA Amendment Bill unfavourable

By: Nadine James It is more than a year since the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill was referred back to Parliament by President Jacob Zuma for reconsideration. According to the latest available public record, more parliamentary committee meetings to reconsider the Amendment... 

Delayed MPRDA Amendment Bill unfavourable

Mine health, safety amendment still not effective

By: Nadine James Two of the additional regulations pertaining to the operation of  diesel-powered trackless mobile machinery (TMM) on mines – which were published in February 2015 – remain inoperable, as the Department of Mineral Resources (DMR) has yet to stipulate a date when the specific obligations come into... 

Mine health, safety amendment still not effective
Photo by Bloomberg
AVERTING COLLISIONS Several of the new regulations regarding Trackless Mobile Machinery are meant to prevent or reduce collisions

Mining needs critical legal regulatory matters resolved

There will be many critical legal and regulatory issues facing the mining industry in 2016, says Chamber of Mines (CoM) legal head Lerato Legong. He claims that “one of the most important is going to be the review of the Mining Charter, which will likely lead to the development of the third... 

Mining needs critical legal regulatory matters resolved
Photo by Bloomberg
MOSEBEZI ZWANE The Chamber of Mines expects that the Mineral Resources Minister and his department will deal with a number of regulatory issues in the coming year

Proposed MPRDA amendments lack clarity

By: Nadine James While the proposed amendments to the Mineral and Petroleum Resources Development Act (MPRDA) contain positive aspects, in a broader sense, they are flawed, particularly in terms of the applications and appeals processes regarding mining rights, says Hogan Lovells partner and head of mining Warren... 

Proposed MPRDA amendments lack clarity
WARREN BEECH The amendments pertaining to appeals will adversely impact mining right applicants in terms of starting the process of securing operations funding and their contractual obligations

Zambian chamber to push for strategic consensus as copper price rout throws country into crisis

By: Ilan Solomons Reeling from the worst crisis it has faced this century and losing millions of dollars a month in a depressed copper-price environment, the Zambian mining industry is to push for a long-term strategic consensus to promote the growth not just of the mining industry, but of the entire country,... 

Zambian chamber to push for strategic consensus  as copper price rout throws country into crisis
CENTRAL TO ZAMBIAN ECONOMY The industry has “ploughed” more than $10-billion into new mining ventures and increased employment fourfold to more than 80 000

Silver Wheaton buys into early-stage project purchase agreement

By: Natasha Odendaal Dual-listed Silver Wheaton has signed a nonbinding term sheet with Panoro Minerals and its wholly owned subsidiary Cordillera Copper to enter into an early deposit precious metals purchase agreement for the Peru-based copper-gold-silver Cotabambas project. The agreement would allow Silver... 

Silver Wheaton buys into early-stage project purchase agreement
Silver Wheaton president and CEO Randy Smallwood

Amplats refined production up 30%

By: Martin Creamer In the three months to December 31, Anglo American Platinum's (Amplats') production of refined platinum rose by 30% to 745 000 oz. The company said in a fourth-quarter (Q4) production report on Thursday that the return to normal after industrial action had also lifted refined palladium and... 

Amplats refined production up 30%
Anglo American Platinum's Waterval smelter.

Anglo’s all-in 2015 production up despite stuttering South African inputs

By: Martin Creamer The 2015 full-year production of Anglo American increased by 5% on a copper equivalent basis, despite lower iron-ore and thermal coal contributions from South Africa and a flat performance by platinum. The London- and Johannesburg-listed diversified mining company said in a production report on... 

Anglo’s all-in 2015 production up despite stuttering South African inputs
Anglo's Goedehoop Colliery

DeGrussa increases production in December quarter

By: Esmarie Swanepoel ASX-listed Sandfire Resources has reported an increase in copper and gold production for the three months to December 31, as its DeGrussa mine, in Western Australia, achieved marginally higher grades. Copper production increased from 16 638 t in the September quarter to 17 642 t in the quarter... 

MMG's quarterly production surges on Las Bambas start

By: Esmarie Swanepoel Newly-listed metals miner MMG has reported record copper production for the fourth quarter ended December, thanks to the start of its Las Bambas project, in Peru. However, the company's zinc and lead production declined. Copper production for the fourth quarter doubled on the previous quarter,... 

Indonesia, Freeport in last-ditch talks to prevent halt in copper exports

By: Reuters Indonesia's government and Freeport McMoRan are meeting on Thursday in last-ditch talks to prevent a halt in exports of copper concentrate from the US mining giant's massive Grasberg mine in the province of Papua. A halt in exports would deal a blow to Freeport's profits and deny the Indonesian... 

Chile’s Antofagasta hopes to boost 2016 copper output by at least 12.6%

By: Samantha Herbst On the back of an “undeniably difficult 2015” resulting in a 10.6% year-on-year drop in total copper production, Chilean miner Antofagasta hopes to boost its 2016 copper production by between 12.6% and 17.4%. The miner said in a statement on Wednesday that it hoped to benefit from a full year of... 

Chile’s Antofagasta hopes to boost 2016 copper output by at least 12.6%

Indonesia, Freeport confident export permit issue will be resolved

By: Reuters Indonesia's mining minister and Freeport McMoRan expressed confidence on Wednesday that the two sides will find common ground to enable the US mining giant to continue shipping copper concentrate for at least another six months. Freeport's current six-month export permit is due to expire on... 

World Bank lowers 2016 outlook on 37 of the 46 commodities it tracks

By: Terence Creamer The World Bank has lowered its 2016 price forecast for 37 of the 46 commodities it monitors and has warned that low prices for oil and other commodities are “likely to be with us for some time”. The bank’s latest ‘Commodity Markets Outlook’ cut its price outlook for oil this year to $37/bl, from... 

World Bank lowers 2016 outlook on 37 of the 46 commodities it tracks

OceanaGold exceeds 2015 production, cost guidance

By: Megan van Wyngaardt Triple-listed OceanaGold exceeded its 2015 consolidated gold production guidance range, producing 419 153 oz of gold – a 36% year-on-year increase – as well as 23 109 oz of copper. The miner reported on Tuesday that it also delivered record yearly gold production and throughput at its Didipio... 

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