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Cerro Grande pares Q3 loss

By: Henry Lazenby Chile-focused miner Cerro Grande Mining has slightly narrowed its third-quarter loss despite lower sales and prices being offset somewhat by lower costs. The Canadian firm reported a net loss before income taxes for the period ended June 30, of $1.42-million, compared with a loss of... 

Codelco plans to revise Andina expansion; profit tumbles 30%

By: Reuters Codelco, the world's No 1 copper producer, said on Friday it was reworking a plan to expand its key Andina mine in the wake of a falling copper price and protests about the project's possible impact on the environment. The up-to-$7.5-billion expansion of Andina, located in the Andes mountains... 

First Quantum Minerals launches $2.1bn Zambia copper mine

By: Reuters Canada's First Quantum Minerals on Friday launched production at its $2.1-billion copper Sentinel mine which has been under construction since June 2012. The mine would produce 280 000 t/y to 300 000 t/y of copper at full production from one large low-grade ore body containing 0.51% copper, First... 

First Quantum Minerals launches $2.1bn Zambia copper mine

Rex gets 12-month extension at Hillside

By: Esmarie Swanepoel Copper hopeful Rex Minerals has been granted a 12-month extension to submit its environment protection and rehabilitation programme and its social management plan for the Hillside project, in South Australia. Rex had applied to the South Australian Department of State Development for the... 

Tiger struggles in interim period

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has swung to a loss in the interim period ended June, despite a 111% increase in revenues. Tiger on Friday reported a net loss after tax of A$5.6-million for the six months under review, compared with a net profit after tax of A$10.3-million in the previous... 

Icahn targets struggling miner Freeport-McMoran with 8.5% stake

By: Reuters Activist investor Carl Icahn disclosed an 8.5% stake in miner Freeport-McMoran, saying the company was undervalued and needed to address several corporate governance and capital issues. In a filing with the US Securities and Exchange Commission, the billionaire investor said he intends to speak... 

Botswana project receives modular building solutions

By: David Oliveira Prefabricated building supplier Speedspace delivered 4 256 m2 of mobile preassembled building solutions to Botswana government-owned nickel and copper producer BCL last month. Company MD Hennie Wiggett notes that the 135 units, including housing, ablution facilities, offices, security units and... 

Botswana project  receives modular  building solutions
TIGHT DELIVERY SCHEDULE Speedspace delivered 4 256 m2 of preassembled buildings to house contractors at BCL’s smelter plant for its shutdown programme

Local company begins prefabricated building construction in Kitwe

By: David Oliveira Prefabricated building solutions manufacturer and supplier African Modular Building Solutions (AMBS) is constructing an emergency communication and control call centre facility, comprised of six buildings, for Zambian copper producer Mopani Copper Mines (MCM) at the company’s headquarters, in... 

Local company begins prefabricated building construction in Kitwe
CORE COMFORT AMBS’s newest 60-mm-thick polyurethane core panels have similar insulation properties to a wall of 2.5 bricks thick

Freeport-McMoRan again chops 2016 budget, to cut 10% of US jobs

By: Henry Lazenby US-diversified miner Freeport-McMoRan (FCX) on Thursday again laid into its 2016 capital plans, advising that falling copper prices and lower US production levels would result in about 10% of its US jobs being terminated. The Phoenix, Arizona-based miner trimmed its mining budget by 25%, or... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV

By: Henry Lazenby Gold major Goldcorp and Canadian diversified miner Teck Resources will combine their El Morro and Relincho projects, in Chile, to leverage increased financial returns and dramatically reduce capital expenditure. The miners announced on Thursday that both companies would contribute their separate... 

Goldcorp, Teck to combine Chile projects into massive 50/50 JV
Photo by Goldcorp/Teck Resources
Project Corridor, in Chile, aims to combine the El Morro and Relincho projects.

Zambia worried by slowdown in China, low copper price

By: Reuters Zambia is worried about the economic slowdown in China, a key consumer of its copper, and expects a further decline in revenue due to sharply lower prices for the commodity, a senior official said on Wednesday. "We are worried because China is one of the major consumers of our copper," Secretary... 

Antofagasta’s H1 profit falls 49% as copper slump weighs

By: Henry Lazenby Chile-focused copper miner Antofagasta’s LSE-listed stock closed up nearly 10% on Tuesday despite the miner booking a 49% drop in profit for the first half of the year (H1). Earnings before interest, taxes, depreciation and amortisation were $561.6-million, a 48.6% decline, reflecting a dramatic... 

Antofagasta’s H1 profit falls 49% as copper slump weighs

EY’s Mining Eye index climbs for first time in a year

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index has gained 4% during the three months ended June, recording a gain for the first time since the second quarter of 2014, compared with a 1% decline in the first quarter. The index outperformed the S&P/TSX Composite index, which slipped 2%... 

EY’s Mining Eye index climbs for first time in a year

Anglo to sell two Chile copper mines for up to $500m

By: Megan van Wyngaardt Diversified miner Anglo American will sell its Anglo American Norte copper asset to an investor consortium led by Audley Capital Advisors for up to $500-million. Norte owned the Mantoverde and Mantos Blancos copper mines in northern Chile. The total consideration payable to Anglo American... 

Nevada Copper gets green light to build Pumpkin Hollow

By: Henry Lazenby The City of Yerington has given TSX-listed Nevada Copper permission to immediately start with any work necessary to develop its Pumpkin Hollow copper project. “With all permits in hand and land title aspects complete, Nevada Copper will focus on financing options as it now can begin construction... 

Diamond producer Alrosa to supply Norilsk with X-ray slurry analysers

By: Henry Lazenby A subsidiary of Russian diamond major Alrosa has won a tender to supply nickel miner Norilsk with five X-ray slurry analysers. The X-ray AR-31-NM analysers would be installed at the Talnah concentration mill, in Russia, to determine nickel, copper and iron concentrations in concentrates and... 

Lupaka starts shipping Invicta ore for toll mill testing

By: Henry Lazenby TSX-V- and BVL-listed Lupaka Gold has started shipping a 900 t ore sample from its Invicta gold mine site for an initial toll mill test campaign at a toll mill near La Oroya, in central Peru. The processing campaign would test and demonstrate grinding and recovery kinetics, chemical consumption,... 

DeGrussa delivers a strong year for Sandfire

By: Esmarie Swanepoel Copper miner Sandfire has reported a strong 2015, driven by strong sales revenues and higher copper and gold production from the DeGrussa mine, in Western Australia. For the year ended June 30, Sandfire’s revenue increased from the A$525.7-million reported in 2014, to A$548.6-million, on the sale... 

Funding dearth stalls junior Santa Fe from drilling likely BC discovery

By: Henry Lazenby A lack of investor interest to finance the junior mining industry has seen many an exploration project stall, preventing their owners from getting out in the field to drill resources and develop what would be the world’s next new mines. One such frustrated company was Santa Fe Metals with its... 

Rambler reports rising precious-metals grades in copper concentrate shipments

By: Henry Lazenby TSX-V-listed Rambler Metals & Mining has shipped its eleventh consignment of copper concentrate from its Ming copper/gold mine, in Baie Verte, Newfoundland and Labrador, reporting increased precious-metals grades on Wednesday. The 5 250 wet metric tonnes (wmt) shipment had an average grade of 27%... 

Important that Optimum Coal issue is resolved – Glencore

By: Martin Creamer It was important that the Optimum Coal issue was resolved well so that the coal-mining company could become operational once more, Glencore CEO Ivan Glasenberg said on Wednesday. Responding to media questions after the mining and marketing company’s presentation of half-year (H1) results,... 

Important that Optimum Coal issue is resolved – Glencore
Photo by Creamer Media
Ivan Glasenberg greeting pupils at the R75-million school Glencore built in the Mpumalanga coalfields

Glencore maintains dividend on 29% lower earnings

By: Martin Creamer Diversified marketing and mining major Glencore on Wednesday reported 29% lower first-half (H1) earnings of $4.6-billion on weaker commodity prices. The board of the London-, Hong Kong- and Johannesburg-listed company declared an interim dividend of $0.6 a share, consistent with the 2014 interim... 

Glencore maintains dividend on 29% lower earnings
Photo by Duane Daws
Ivan Glasenberg still seeing window of opportunity

Hard-hit miners, railways push TSX lower

By: Reuters Canada's main stock index fell on Tuesday, its seventh decline in the last nine sessions, with miners and railways leading a broad retreat as copper hit a six-year low and Chinese equities tumbled. First Quantum Minerals plunged 9.7% to C$7.65 and Teck Resources shed 8% to C$8.39. 

Nevada Copper’s Pumpkin Hollow clears last regulatory hurdle

By: Henry Lazenby TSX-listed Nevada Copper is now fully permitted to start construction and operate its $1.04-billion Pumpkin Hollow openpit and underground copper project, in Nevada, which CEO and president Giulio Bonifacio describes as one of the best mining jurisdictions in the world. "This makes Pumpkin Hollow... 

Tiger CEO walks away

By: Esmarie Swanepoel Copper cathode producer Tiger Resources has announced the resignation of its CEO Brad Marwood. Company director Michael Griffiths has been appointed interim CEO while the company seeks a successor to Marwood. 

Peru economy grows 3.87% in June, above expectations

By: Reuters Peru's economy grew by a faster-than-expected 3.87% in June from a year earlier, a strong uptick from May and one of the fastest monthly expansions of the past year, state statistics agency Inei said on Friday. A Reuters poll had forecast a 3% year-on-year expansion in June. The central bank had... 

China's yuan devaluation to pressure commodities – Goldman

By: Reuters China's yuan devaluation signals that global economic conditions have taken a turn for the worse, creating more downward pressure to come for commodity markets, Goldman Sachs said. "The CNY (yuan) devaluation has been important for commodity markets and we believe it signals that global macro... 

Vale says leak at Copper Cliff smelter in Canada contained

By: Reuters Brazilian miner Vale said on Thursday that a nitrogen dioxide leak at its Copper Cliff smelter in Sudbury, Ontario had been contained and that the leak did not result in any injuries. A spokesperson for Vale said the incident would not have an impact production as the leak occurred just as Vale... 

Chile's Collahuasi copper mine output to fall in 2015, rebound next year – CEO

By: Reuters Collahuasi, one of the world's largest copper mines, will see its production fall slightly this year compared to 2014, but it is expected to recover next year, the mine's chief executive said on Thursday. The Collahuasi mine, located in northern Chile, produced around 470 000 t of copper last... 

40% of gold production will be uneconomic at prices below $1 100/oz, says Wood Mackenzie

By: Zandile Mavuso As a result of the gold price dropping to below $1 100/oz, global energy, metals and mining research consultancy group Wood Mackenzie predicts that almost 40% of gold project production capability will be uneconomic and will lead to a significant cut in future supply. 

Copper provides health, aquaculture benefits

Pan African industry body Copper Development Association Africa (CDAA) is actively working to develop the downstream production of copper items, particularly in the healthcare sector, by highlighting the dangers of hospital acquired infections in hospitals and clinics, says CDAA centre director... 

Copper provides health, aquaculture benefits
COPPER TOUCH SURFACES During December 2014 and January 2015, 240 antimicrobial door handles were installed in Phelophepa I and II trains in total

Copper urban mining holds significant potential, says institute

The high economic value of copper metal is driving the collection and recycling of copper scrap from the downstream value chain as well as from end-of-life products, says European copper industry representative body the European Copper Institute CE John Schonenberger. He adds that copper is also... 

Copper urban mining holds significant  potential, says institute
URBAN COPPER MINING Copper is 100% recyclable, without any loss in performance, and can therefore be reintroduced again and again into the material cycle

Greek court decisions allow Eldorado to accelerate Skouries construction

By: Henry Lazenby Multinational miner Eldorado Gold has received two favourable court decisions in Greece, allowing it to accelerate construction activities at the Skouries gold/copper project, in Halkidiki, in northern Greece. Construction of the project came to a halt in March, when the then newly elected Greek... 

Greek court decisions allow Eldorado to accelerate Skouries construction
Photo by Eldorado Gold
Skouries, Greece.

Optimum rescue chance reasonable if Eskom deal renegotiated – Glencore

By: Martin Creamer The directors of Optimum are of the view that there is a reasonable prospect of rescuing Optimum Coal if the supply agreement with Eskom can be renegotiated, Glencore said on Thursday. Optimum Coal announced on August 4 that it had begun business rescue proceedings because of its continued and... 

Optimum rescue chance reasonable if Eskom deal renegotiated – Glencore
Coal renegotiation sought

Mt Morgan PFS proves positive for Carbine Resources

By: Esmarie Swanepoel A prefeasibility study (PFS) into the Mt Morgan copper and gold project, in Queensland, has confirmed the potential for a low-cost operation, owner Carbine Resources said on Thursday. The project was expected to require capital investment of A$63.3-million, down 29% from the A$81.9-million... 

Contract workers at Chile's Codelco agree to suspend strike – union sources

By: Reuters Striking contract workers at the world's biggest copper producer, Chile's state-owned Codelco, have agreed to suspend a three-week strike and pursue negotiations with the company, union sources said on Wednesday. Contract workers affiliated with the Confederation of Copper Workers, or CTC, are... 

Ivanhoe starts feasibility study on first phase Platreef project

By: Natasha Odendaal TSX-listed Ivanhoe Mines has initiated a feasibility study for the first phase of the development of its Platreef project, in Limpopo. The study, which kicked off early this month, aimed to build on the positive findings of the prefeasibility study (PFS) completed in January for the construction... 

Zambia power firms to reduce supply to mines by 30%

By: Reuters Zambian power companies will cut electricity supply to mining firms by 30% due to a power deficit which threatens to bring the economy of Africa's No 2 copper producer to its knees, an industry official said on Wednesday. The decision was reached on Tuesday in a meeting involving mining... 

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