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Copper News

Turquoise Hill stops shipments from Mongolian mine to China

By: Reuters     2nd December 2016 Canadian copper miner Turquoise Hill Resources Ltd said on Friday it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. The fee was imposed following a diplomatic row... 

Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Glencore sees nickel shortage as electric vehicle demand burgeons
Glencore's Koniambo nickel project in New Caledonia, a French territory.

Hudbay prices $1bn senior notes offering

By: Henry Lazenby     2nd December 2016 Canadian base metals producer HudBay Minerals has priced its offering of $1-billion of senior notes, which will be issued in two series, the company said on Thursday. These will comprise a series of 7.25% senior notes due in 2023 for $400-million and a series of 7.625% senior notes due in 2025... 

Aus company grows share in DRC project

     2nd December 2016 ASX-listed minerals company Regal Resources has entered into an unconditional agreement with joint venture partner, Democratic Republic of Congo- (DRC-) registered La Generale Industrielle et Commerciale au Congo (GICC), to acquire from it additional shares in Kalongwe copper project’s holding... 

Aus company grows share in DRC project
KALONGWE ORE Kalongwe hosts a near-surface resource of 302 000 t copper and 42 000 t cobalt as predominantly oxide ore

Copper mining offers growth opportunity to dust suppressant supplier

By: Nadine James     2nd December 2016 Johannesburg-based nanotechnology provider Cruze Holdings expects to secure more work from African copper mining operations as its products generate savings by ensuring companies spend less on their existing road dust suppression measures. The company may double its mining revenue within the next... 

Copper mining offers growth opportunity to  dust suppressant supplier
DOWN WITH DUST Cruze Holdings dust palliatives are extremely effective, simple to apply and cost-effective

Importance of artisanal mining increases in DRC

     2nd December 2016 The stagnation of the formalised mining sector in the Democratic Republic of Congo (DRC) has led to an increase in artisanal mining activity, says the mining representative body DRC Chamber of Mines (CoM). “Artisanal mining in the DRC has become a widespread activity of significant economic... 

Importance of  artisanal mining increases in DRC
SUBSISTENCE MINING Artisanal mining in the DRC has become a widespread activity of significant economic importance

Institutional challenges overshadow mineralisation

By: Nadine James     2nd December 2016 Prevailing institutional challenges facing Zambia and the Democratic Republic of Congo (DRC) will continue to hinder copper mining in the region if not addressed in a timely and satisfactory manner, says mining and business consultancy Core Africa, a division of Core Consultants. Core Africa... 

Institutional challenges overshadow mineralisation
CASTING LONG SHADOWS Socioeconomic problems continue to adversely influence mining development in the Copperbelt region

Kamoa-Kakula PEA to be completed by year-end

     2nd December 2016 Canadian miner Ivanhoe Mines subsidiary Kamoa Copper SA has retained Australian consultancy OreWin to prepare a preliminary economic assessment (PEA) for the development of the Kakula deposit in the Democratic Republic of Congo (DRC). The PEA is expected to be completed before the end of the... 

Kamoa-Kakula PEA to be completed by year-end
GOOD TIDINGS Ivanhoe reported excellent metallurgical results from tests conducted on drill core samples from the Kakula discovery

Zambian copper industry must be prepared for future upswing

     2nd December 2016 While a low metal price environment necessitates that mining companies cut spending and reduce expansion, adopting an overly cautious approach will ensure that companies risk being unprepared when the upswing occurs, says global professional services firm Ernst & Young (EY). Being unprepared for... 

Zambian copper industry must be prepared for future upswing
Photo by Bloomberg
ON THE PRECIPICE Without new investment in improved productivity, Zambia’s mining industry will be unable to cash in on renewed global demand for copper

Zambian town must diversify to survive eventual mine closure

     2nd December 2016 Diversified miner China Non-Ferrous Metals Mining Company’s (CMNC’s) 2009 acquisition of the Luanshya copper mine and the mine’s subsequent success reinvigorated the mining town’s economy, says local small and medium-sized business association Luanshya District Business Association (LDBA).... 

Zambian town must diversify to survive eventual mine closure
DOWN BUT NOT OUT Although Baluba's underground operation has been put on care and maintenance, the openpit mine is doing very well

Chile to capitalise copper producer Codelco with $975m

By: Reuters     1st December 2016 Chile's government will give state-owned copper miner Codelco $975-million in capitalisation so the cash-strapped firm can finance its ambitious investment plans, Finance Minister Rodrigo Valdes said on Thursday. World No1 copper producer Codelco returns all its profits to the state and is... 

Norilsk Nickel takes legal action against BCL over failed asset sale

By: Megan van Wyngaardt     1st December 2016 Norilsk Nickel Mauritius and Norilsk Nickel Africa have filed legal claims against Botswana's largest copper and nickel producer, BCL Mine, in the Botswana courts and in the London Court of International Arbitration to recover $271.3-million, plus damages and other costs, in relation to the... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

China slaps new fees on Mongolian exporters amid Dalai Lama row

By: Reuters     1st December 2016 A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week. The Dalai Lama is cherished as a spiritual leader in... 

Eight miners dead after tremor hits Polish copper mine

By: Reuters     1st December 2016 The final death toll of an earth tremor causing rockfalls deep underground in Europe's largest copper mine in southwestern Poland rose to eight miners, the mine's operator KGHM said on Wednesday. The tremor hit the Rudna copper mine at 20:09 GMT on Tuesday, KGHM said, causing extensive damage,... 

Four miners dead, four missing after tremor hits Polish copper mine

By: Reuters     30th November 2016 Rescuers were searching for four missing miners in southwestern Poland on Wednesday after an earth tremor caused rockfalls deep underground in a copper mine, killing four, the mine's operator KGHM said. The tremor hit the Rudna copper mine at 2009 GMT on Tuesday, KGHM said, causing extensive damage. 

Britain, Mongolia pledge to do more mining together

By: Reuters     30th November 2016 Britain and Mongolia signed their first memorandum of understanding in the mining sector on Tuesday, pledging an exchange of technology and expertise, and deepening ties based on Rio Tinto's huge copper mine in the South Gobi desert. The agreement, signed on the sidelines of a mining conference... 

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Hudbay announces $1bn senior notes offering

By: Henry Lazenby     29th November 2016 Canadian base metals producer Hudbay Minerals will offer $1-billion total principal amount in two series of senior notes offerings, including senior notes due in 2023 and a series of senior notes due in 2025. The total principal amount, interest rate and other terms of each series of the new... 

Congo copper output up 0.6% in Q3, annual production down

By: Reuters     28th November 2016 Copper output in Democratic Republic of Congo, Africa's top producer, hit 268 393 t in the third quarter of 2016, a 0.6% increase over the same period last year, the central bank said on Monday. However, total output of 734 643 t for the first three quarters was still down nearly 10% compared to... 

Copper’s scorching rally may hit roadblock as imports drop

By: Bloomberg     28th November 2016 Copper’s searing rally in November could hit a roadblock as China’s imports of the metal shrink. The world’s biggest consumer is making more copper domestically than ever before, using supplies of foreign ore concentrate, which is curbing demand for the refined metal. Overseas purchases of... 

Copper’s scorching rally may hit roadblock as imports drop

Antofagasta sells Michilla legacy mine for $52m

By: Henry Lazenby     26th November 2016 London-listed copper miner Antofagasta announced Friday the sale of its mothballed Michilla copper mine, in Chile, for $52-million to Haldeman Mining. Antofagasta acquired Michilla in 1992, giving rise to what today is the company’s mining division. However, Antofagasta shuttered the mine on... 

Codelco narrows Q3 profit as copper prices fall

By: Henry Lazenby     26th November 2016 Chile State-owned miner Corporación Nacional del Cobre de Chile (Codelco) has narrowed its third-quarter profit to $79-million for the three months ended September, as a 17% drop in copper prices and higher costs weighed on the bottom line. This compared with a profit of $342-million in the... 

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

Zambia copper concentrate duty to disrupt global copper supplies – sources

By: Reuters     25th November 2016 A plan by Zambia to put a duty on copper concentrates imports could put a kink in the global supply chain for the metal, industry sources said, by forcing neighbouring Democratic Republic of Congo (DRC) to send surplus mine output elsewhere. The 7.5% duty announced earlier this month and due to... 

Despite cash crunch, Nautilus production support vessel construction continues apace

By: Henry Lazenby     25th November 2016 Despite significant delays to Nautilus Minerals’ production schedule, and a cash crunch having sent it into hibernation, construction of the Canadian marine-mining hopeful's production support vehicle (PSV) is progressing in China. Toronto-headquartered Nautilus on Thursday reported construction... 

Atalaya sees quarterly increase in recoveries, ramps up production at Proyecto RioTinto

By: Megan van Wyngaardt     24th November 2016 Copper production at dual-listed European mining and development company Atalaya’s operations increased 97% quarter-on-quarter, from 4 442 t in the second quarter to 8 752 t in the third quarter, owing to an 83.6% increase in recoveries. The miner also maintained copper concentrate grades of over... 

Four Sherritt Moa employees dead in municipal bridge collapse

By: Henry Lazenby     24th November 2016 Four employees of Canadian diversified miner Sherritt International have died after a municipal bridge they were working on collapsed Tuesday, the company announced Wednesday. According to TSX-listed Sherritt, the bridge is over a shallow river, and is the main access from the local town and port... 

Ivanhoe on track with upgrading, recommissioning of Kipushi zinc/copper mine

By: Henry Lazenby     23rd November 2016 Canadian project developer Ivanhoe Mines is on track with the modernisation and upgrading of the Kipushi zinc/copper mine, in the Democratic Republic of Congo, having re-established clear and safe access to all areas of the main underground workings, the company stated Wednesday. The current mine... 

Zambia's chamber of mines sees rising copper output in 2016

By: Reuters     23rd November 2016 Zambia's copper production is expected to increase by 4% to 740 000 t this year, the Chamber of Mines in Africa's second-largest producer of the metal said on Wednesday. A government forecast in February indicated Zambia's copper production will be around 700 000 t this year and next year before... 

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Anglo productivity up 40%

By: Martin Creamer     23rd November 2016 Mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was from the 68. As a consequence, the product produced per person is currently 40% higher than it was four years ago. 

Anglo productivity up 40%
Photo by Duane Daws
Anglo American CEO Mark Cutifani

SNC-Lavalin awarded EPC contract from Codelco for sulphuric acid plant construction

By: Samantha Herbst     23rd November 2016 Chile-based Corporación Nacional del Cobre de Chile (Codelco), one of the world’s largest copper producers, has appointed TSX-listed engineering and construction group SNC-Lavalin to construct two sulphuric acid plants at the Chuquicamata copper smelter complex, located in the Antofagasta region... 

Copper surplus reaches 154 000 t in August on weaker Chinese demand, seasonality

By: Henry Lazenby     23rd November 2016 New analysis by the International Copper Study Group (ICSG) has shown an apparent production surplus of around 154 000 metric tonnes in August, mainly owing to weaker Chinese demand and seasonally weak use in other regions. The Lisbon, Portugal headquartered think tank said in a statement Monday... 

Copper surplus reaches 154 000 t in August on weaker Chinese demand, seasonality

Saudi Arabia aims to triple mining revenue by 2030 – minister

By: Reuters     23rd November 2016 Saudi Arabia plans to more than triple the contribution of its mining industry to national wealth as measured by gross domestic product by 2030, the energy minister said on Tuesday. The kingdom is finalising a mining strategy aimed at raising annual mining revenues from 64-billion riyals... 

Teck ups stake in Peruvian copper/gold project

By: Henry Lazenby     23rd November 2016 Canadian diversified miner Teck Resources has agreed to buy all outstanding shares of TSX-V-listed AQM Copper for C$25-million, the company said Monday. Teck already owns about 30% of AQM’s stock, and the deal will give it access to the junior’s 30% indirect interest in the Zafranal copper/gold... 

ZCI receives offer for Messina Copper assets

By: Megan van Wyngaardt     22nd November 2016 Holding company ZCI on Tuesday said that it had received a proposal from Leboam Holdings to acquire its Messina Copper assets in Botswana. The company in November 2015 applied for the provisional liquidation of Messina Copper, an operating subsidiary of ZCI's subsidiary, African Copper, which had... 

PNX wraps up Leigh Creek sale

By: Creamer Media Reporter      22nd November 2016 ASX-listed PNX Metals has completed the sale of the Leigh Creek copper mine, which has been on care and maintenance for almost five years, to Resilience Mining Australia. Leigh Creek holds three mining leases, including Mountain of Light. The sale relieves PNX from all rehabilitation obligations... 

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