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Taseko strikes participation and cooperation accord with Aboriginal group

By: Henry Lazenby     Updated 3 hours ago Base metals producer Taseko Mines has formalised a participation and cooperation agreement between the Gibraltar mine, in British Columbia and its next-door neighbour, the Soda Creek Indian Band (Xat'sull). "We are pleased to formalise a relationship with Taseko regarding the Gibraltar mine.... 

Weak market conditions prompt FCX to look for company wide cost cuts

By: Henry Lazenby     Updated 4 hours ago Multinational diversified miner Freeport-McMoRan (FCX) has started a comprehensive review of its mining and oil and gas businesses in order to target significant capital spending and operating and administrative costs cuts in response to weak market conditions for its significant products. These... 

Codelco says Chuquicamata copper mine operational again

By: Reuters     Updated 4 hours ago Codelco's Chuquicamata copper mine returned to normal operations on Tuesday afternoon after a contract workers' strike caused a halt earlier in the day, the company said in a statement. All projects except the small Salvador mine were operational, although there had been "various difficulties"... 

Zambia power cuts hit Canada's First Quantum, Barrick

By: Reuters Power cuts in north-western Zambia, Africa's second-biggest copper producer, have affected production at mines run by Canada's First Quantum Minerals and Barrick Gold, an industry body said on Tuesday. Zambian power utility Zesco Ltd is limiting power it supplies to customers, including mining... 

Mining study shows Peru copper project's potential

By: Esmarie Swanepoel A mining study on the Los Calatos copper project, in Peru, has estimated that the project could produce up to 45 000 t/y of concentrate over a 17-year mine life. ASX-listed Metminco this week said the six-million-tonne-a-year underground mining operation would require a capital investment of... 

Cardero announces restructuring plan, to buy Arizona copper oxide project

By: Henry Lazenby Industrial metals and minerals firm Cardero Resource on Monday revealed a comprehensive restructuring plan, which included the acquisition of the Zonia copper oxide project, in Arizona, in the hope that switching to a focus on copper would allow it to, once more, create shareholder value. Under... 

Speculators show global commodities rout still not over

By: Reuters Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south. But while more losses are certain, their scope could be limited because... 

Codelco says workers seize control of small Salvador mine in Chile

By: Reuters Contract workers demanding better working conditions in Chile have taken control of Codelco's small Salvador mine, the state-owned copper miner said, raising the stakes in a strike now in its sixth day. The labor dispute had already forced the suspension of operations at Salvador, which last year... 

Striking Chilean copper miner shot dead during protest

By: Reuters A Chilean mining contract worker was shot dead on Friday as a labour strike against state-owned copper company Codelco stretched into its fourth day, the union representing the workers said. The Confederation of Copper Workers, or CTC, posted a statement on its website saying that contractor... 

With metals slumping, investors seek miners that can weather storm

By: Reuters A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70% of iron-ore consumption and vies with India to be... 

CuDeco secures $3m interim funding

By: Esmarie Swanepoel Copper developer CuDeco has secured a $3-million investment from its cornerstone investors, who have also called for the resignation of director Wayne McCrea. CuDeco on Friday lifted a trading halt, revealing that the company had secured short-term loans of $1-million from each of its... 

Freeport-McMoRan reports Q2 net loss, shares fall

By: Henry Lazenby US-based diversified miner Freeport-McMoRan (FCX) on Thursday reported a net loss of $1.85-billion for the second quarter of the year, compared with the net income of $482-million achieved in the second quarter of the previous year. FCX’s net loss for the second quarter included net charges of... 

Teck lifts Q2 profit despite falling commodity prices

By: Henry Lazenby Canada’s largest diversified miner Teck Resources has improved its adjusted profit for the three months ended June 30, by 10%, despite falling commodity prices that put downward pressure on margins and profits. For the second quarter, the Vancouver-headquartered miner reported net income,... 

Teck lifts Q2 profit despite falling commodity prices

Tech savvy O’Neill streaks up Anglo ladder

By: Martin Creamer Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business... 

Tech savvy O’Neill streaks up Anglo ladder
Photo by Duane Daws
Tony O'Neill

Value-creation analysis finds long-term divergence between copper, gold producers

By: Henry Lazenby Following the recent announcement by the Chinese central bank of a seemingly underwhelming 57% increase in gold reserves, the gold price plunged to below the psychologically important $1 100/oz level, during a broader commodities sell-off. A new report by commercial intelligence firm Wood... 

Value-creation analysis finds long-term divergence between copper, gold producers

Codelco says Salvador copper mine suspended as strike continues

By: Reuters Top copper miner Codelco said on Wednesday that one of its projects had been suspended but most of its operations were unaffected as striking contract workers blocked access to mines for the second straight day. Contract workers affiliated with the Confederation of Copper Workers, or CTC, went... 

Tschudi mine produces 2 257 t of copper in Q2

By: Megan van Wyngaardt Aim-listed copper miner Weatherly International’s Tschudi mine, in Namibia, has produced 2 257 t of LME Grade A copper cathode in the quarter ended June 30. Production for the first full quarter of operations was more than 50% of design capacity. 

At US Capitol, Arizona Apaches protest planned copper mine

By: Reuters Scores of Native American demonstrators protested at the US Capitol on Tuesday against a proposed $6-billion copper mine in Arizona at a site that members of the Apache tribe say is sacred. Members of the San Carlos Apache tribe began a cross-country caravan to Washington this month to persuade... 

Service workers strike at Chile copper miner Codelco

By: Reuters Workers employed by service contractors at Chile's state-owned Codelco, the world's top copper miner, went on strike on Tuesday to demand the right to negotiate collectively a benefits package similar to that offered to the company's direct employees. Codelco said in a statement that five of its... 

Copper miners to keep churning out metal despite price slide

By: Reuters Copper's production costs have fallen in the wake of lower oil prices and weaker local currencies, which means most miners will continue to pump out metal despite a recent slide in prices. Benchmark copper on the London Metal Exchange tumbled nearly a fifth between early May and earlier this... 

Oz Minerals production soars in Q2

By: Esmarie Swanepoel Copper miner Oz Minerals on Tuesday reported its highest quarterly output since 2010, as the miner prioritised higher-value copper feed at its Prominent Hill mill, in South Australia. Copper production for the three months to June 30 reached 32 991 t, compared with the 31 160 t delivered in the... 

Nevada Copper receives ROD on Yerington land conveyance to develop Pumpkin Hollow

By: Megan van Wyngaardt TSX-listed Nevada Copper will be deeded about 9 100 acres for mine and other development at no additional cost, once the Federal Bureau of Land Management (BLM) issues a patent to the City of Yerington following the completion of a 30-day notice period. Nevada Copper, the 100% owner of the... 

Rambler set to ramp-up Ming to full capacity by 2018

By: Megan van Wyngaardt Canada-based copper and gold producer Rambler Metals & Mining will ramp up its Ming copper-gold mine, in Baie Verte, Newfoundland and Labrador, to run at full capacity of 1 250 t/d by 2018 from its current 650 t/d. This followed the completion of a prefeasibility engineering study (PFS)  and... 

Argentinian elections heat up as resource sectors offer country platform for recovery

By: Simon Rees It is likely that the new administration of Argentina, which heads to the polls later this year, will be more business friendly and market orientated, with mining and other natural resource sectors playing an increasingly significant role. “The money will start to flow in again once Argentina... 

Argentinian elections heat up as resource sectors offer country platform for recovery

Anglo to take up to $4bn impairment hit

By: Natasha Odendaal Mining giant Anglo American is preparing to take a $3-billion to $4-billion write-down for the first half of the year amid continued persistent price weakness and volatility of the bulk commodities, particularly iron-ore and metallurgical coal. The impairment followed a mid-year review of Anglo’s... 

Turquoise Hill confident of striking Oyu Tolgoi financing deal by year-end

By: Henry Lazenby Rio Tinto-owned miner Turquoise Hill Resources is banking on striking a financing deal for the underground expansion of the giant Oyu Tolgoi mine, in Mongolia, by year-end. The Vancouver-headquartered company signed an underground mine development and financing plan with the Mongolian government... 

Zambia's mining industry says new tax rules will scare away investors

By: Reuters Zambia's mining industry said on Wednesday that an increase in corporate tax to 35% and other new tax rules will scare away investors and discourage processing to add value, and called for them to be scrapped. Last month Zambia, Africa's No 2 copper producer, approved a plan to increase the... 

Construction of DeGrussa's solar project to start this month

By: Esmarie Swanepoel Construction will, this month, start on a 10.6 MW solar power plant at Sandfire Resources' DeGrussa copper mine, in Western Australia. Formal approval for the A$40-million project, which would be the largest integrated off-grid solar and battery storage facility in Australia, followed the... 

Greek vote, commodity concerns keep lid on LatAm

By: Reuters Stronger US markets did little on Tuesday to inspire LatAm investors fretting about commodity prices and awaiting more certainty over Greece's latest bailout package. Accounts are also reluctant to put money to work ahead of Federal Reserve chairperson Janet Yellen's Congressional testimony... 

Zambia to import power, build new plants to stem shortages

By: Reuters Zambia will begin importing power and push forward with construction of new generation plants to stem electricity shortages that threaten mining output, government spokesperson Chishimba Kambwili said on Monday. Zambia's Cabinet authorised State-run power company Zesco to import of 100 MW of... 

Zambia to import power, build new plants to stem shortages

Nevada Copper moving ahead with fine-tuning Pumpkin Hollow permits

By: Simon Rees Nevada Copper is considering modifications of its current state permits for its Pumpkin Hollow project to allow for an operation as envisaged in its recently released integrated feasibility study (IFS) and estimates that this fine-tuning will be completed during the current quarter. Nevada’s... 

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