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Copper News

Moratorium infers intention to circumvent agreement – Leon

By: Martin Creamer     Updated 2 hours 59 minutes ago The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Zaldivar copper mine workers extend wage talks with company

By: Reuters     21st July 2017 The union at Antofagasta's Zaldivar copper mine, in Chile, said on Thursday that workers and the company had failed to reach a wage deal and that they had agreed to extend government-mediated talks into next week. Last week, the union voted to strike, prompting the mediated talks and a new... 

World copper market shows 80 000 t surplus in first four months of 2017

By: Henry Lazenby     21st July 2017 The world refined copper balance for the first four months of 2017 indicates a surplus of about 80 000 t, the International Copper Study Group (ICSG) reported on Thursday. It ascribed the surplus mainly to a decline in Chinese apparent demand, a market that currently accounts for about 48% of the... 

Canada’s First Cobalt hoping to seal DRC exploration deal by next month

By: Mia Breytenbach     21st July 2017 Cobalt asset group First Cobalt aims to close the transaction of a strategic alliance for a 70% interest in seven prospective copper/cobalt exploration properties in the Democratic Republic of the Congo (DRC) by next month and progress exploration in one of the world’s “high-reward cobalt... 

Canada’s First Cobalt hoping to seal DRC  exploration deal by next month
PROPERTY PROSPECTS The seven properties cover 190 km2 on the Central African Copperbelt, in Katanga, all with known surface mineralisation

Zambian miners join forces to improve occupational health and safety

By: Dylan Slater     21st July 2017 Metals mining company First Quantum Minerals’ (FQM’s) subsidiary mining companies in Zambia, Kansanshi Mining and Kalumbila Minerals, together with gold and copper miner Barrick Gold’s nearby copper mine – Lumwana mine – have taken proactive steps to improve their mine safety procedures to save... 

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Diamond output leap helps Anglo
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Chile approves expansion at BHP's Spence mine – paper

By: Reuters     20th July 2017 Chilean authorities have approved a $2.5-billion expansion of BHP Billiton's Spence copper mine, a local newspaper reported on Wednesday, though the company has not yet decided whether to go ahead with the project. Chile's Environmental Evaluation Service (SEA) has unanimously approved the... 

Peru miners start nationwide strike, govt sees little impact

By: Reuters     20th July 2017 Unionised workers at mines in Peru, the world's second biggest copper producer, started a nationwide strike on Wednesday to protest the government's proposed labour reforms, the head of a federation of mining unions said on Wednesday. Workers at 56 mining unions in the Andean country, including... 

Taseko restarts Gibraltar mine

By: Henry Lazenby     20th July 2017 Base metals producer Taseko mines has restarted operations at its Gibraltar mine, in British Columbia, following a four-day hiatus as hundreds of wildfires ravaged the province’s interior. The TSX-listed company said on Wednesday that restarting the mine will help to limit interruption and keep... 

Ivanhoe appoints two more financiers to find funds for Platreef

By: Samantha Herbst     19th July 2017 Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German... 

Ivanhoe appoints two more financiers to find funds for Platreef
Ivanhoe chairperson Robert Friedland

BHP invests A$350m in Olympic Dam

By: Esmarie Swanepoel     19th July 2017 Mining major BHP will invest A$350-million into its Olympic Dam operations, in South Australia, in a smelter maintenance campaign. Olympic Dam asset president Jac 

Taseko gets multiyear ‘NOW’ permit for contentious New Prosperity mine

By: Henry Lazenby     19th July 2017 The provincial government of British Columbia has issued Taseko Mines with a multiyear Notice of Work (NOW) permit that will allow the base metals producer to undertake a site investigation programme at the New Prosperity gold/copper mine. The mine project, which has been nixed twice by the... 

Taseko gets multiyear ‘NOW’ permit for contentious New Prosperity mine
Photo by Reuters
First Nations demonstrators protesting against the proposed New Prosperity copper/gold project by proponent Taseko Mines

Demand growth for some metals may exceed 1 000% – World Bank

By: Martin Creamer     18th July 2017 A new World Bank report highlights the potential impacts that the expected continuing boom in low-carbon energy technologies will have on demand for many minerals and metals, including Southern Africa's platinum, manganese and chrome. Using wind and solar energy, and energy storage batteries, as... 

Congo central bank announces penalties for miners that fail to repatriate revenue

By: Reuters     18th July 2017 Democratic Republic of Congo's central bank has announced stiff new financial penalties for companies that fail to repatriate at least 40% of their revenues from mineral exports, a decree seen by Reuters on Tuesday showed. Congo, Africa's top copper producer, has been hit hard by low commodity... 

Sierra Metals’ flagship Peru mine shines in Q2

By: Natasha Odendaal     18th July 2017 Consolidated metal production from triple-listed Sierra Metals decreased 3% during the second quarter of the year, the base metals miner said Monday. Sierra, a Canada-based growing polymetallic mining company, attributed the decrease to lower throughput, lower head grades and lower recoveries of... 

Orvana achieves new quarterly gold production record

By: Creamer Media Reporter      18th July 2017 Gold and copper miner Orvana, which owns mines in Spain and Bolivia, has achieved a new quarterly consolidated gold production record of 26 414 oz in the third quarter of fiscal 2017. Consolidated gold equivalent production reached 35 292 oz in the quarter, a 27% improvement on the 27 683 oz... 

Orvana achieves new quarterly gold production record
The El Valle mine in northern Spain.

Production at Oyu Tolgoi remains steady at +3.5% q/q

By: Samantha Herbst     18th July 2017 Second-quarter production at Turquoise Hill Resources’ Oyu Tolgoi gold/copper mine, in Mongolia, proceeded as planned and remained steady quarter-on-quarter, the Vancouver-based miner revealed on Monday. Ore treated in the quarter was impacted by a scheduled five-day maintenance shutdown in May,... 

Production at Oyu Tolgoi remains steady at +3.5% q/q
Oyu Tolgoi mine, Mongolia

Top Peru gold miner to weigh copper growth if recovery extends

By: Bloomberg     18th July 2017 Peru’s biggest precious-metals producer will consider taking a deeper dive into copper if prices of the industrial metal keep rising. Cia. de Minas Buenaventura is tripling annual output at its Marcapunta copper mine to about 60,000 metric tons. Another expansion would take it to 100 000 tons,... 

Canada wildfires prompt lumber price surge, mine shutdowns

By: Bloomberg     18th July 2017 Wildfires sweeping across British Columbia, the world’s biggest exporter of softwood lumber, sent timber prices surging and forced the closure of two copper mines in the western Canadian province. More than 375 fires have swept across the province, burning forests, displacing an estimated 37 000... 

Ivanhoe's Congo success follows deals with President's brother

By: Bloomberg     18th July 2017 In the two decades since billionaire mining investor Robert Friedland founded Ivanhoe Mines, his small team has made some of the biggest mineral discoveries in the world. In the Democratic Republic of Congo, it has done so while trading and contracting with companies controlled by one of... 

Ivanhoe's Congo success follows deals with President's brother
Photo by Duane Daws
Robert Friedland

Anglo Asian Mining delivers strong Q2 production

By: Natasha Odendaal     17th July 2017 Aim-listed gold, copper and silver producer Anglo Asian Mining on Monday reported a decline in production, from 36 729 gold-equivalent ounces in the first half of 2016, to 28 554 gold-equivalent ounces in the first half of this year. The Azerbaijan-focused miner produced 23 218 oz of gold – 18... 

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Two injured in electrical fire at Congo's Tenke copper mine

By: Reuters     17th July 2017 Two employees at the Tenke copper mine in Democratic Republic of Congo suffered minor injuries in an electrical fire at the weekend, majority owner China Molybdenum Co said on Monday, disputing media reports the workers had died. France's Le Figaro and Congolese media had reported that the two... 

Capricorn Copper finds funding for project refurb

By: Esmarie Swanepoel     17th July 2017 Privately held Capricorn Copper has secured a A$45-million senior facility agreement with BNP Paribas to fund the refurbishment and restart of its namesake mine, in Queensland. The senior facility agreement includes A$40-million for project development, commissioning and ramp-up, as well as a... 

North American metals and mining sector provides weak covenant protections – Moody’s

By: Henry Lazenby     15th July 2017 High-yield bonds issued in the metals and mining sector provide weak covenant protection, Moody's Investors Service says in a new report issued on Friday. The average covenant quality (CQ) score under the credit rating agency's scoring criteria for the 56 North American metals and mining... 

USW threatens walkout at Teck's Highland Valley Copper ops

By: Henry Lazenby     15th July 2017 Members of the United Steelworkers Union (USW) will vote on Sunday whether to stage a walkout at Canadian diversified miner Teck Resources’ Highland Valley Copper mine. About 1 050 workers said they have been working without a collective agreement in place since last year and now, against a... 

Chamber wins round one in battle against mining charter

By: Martin Creamer     14th July 2017 In what is a clear first round victory for the Chamber of Mines of South Africa against the errant Department of Mineral Resources (DMR), Mineral Resources Minister Mosebenzi Zwane has agreed to suspend the implementation of the controversial Mining Charter Three until after the High Court has... 

Chamber wins round one in battle against mining charter
Chamber CEO Roger Baxter – chamber wins first round in fight against devastating Mining Charter Three

Frieda River arbitration to start

By: Esmarie Swanepoel     14th July 2017 ASX-listed Highlands Pacific and its joint venture (JV) partner at the Frieda River copper/gold project, in Papua New Guinea, have started arbitration proceedings to resolve a funding dispute. The parties were in dispute regarding their respective obligations under the JV agreement, including... 

Nevsun lifts Q2 copper output

By: Henry Lazenby     14th July 2017 Base metals producer Nevsun Resources has reported a strong recovery of copper concentrate production, lifting second-quarter output to 5.7-million pounds. It is a sharp recovery for the Eritrea-focused company, which resorted to producing a bulk zinc/copper concentrate late last year owing to... 

Accelerating growth of services in Africa

By: Nica Schreuder     14th July 2017 Mining services company Fraser Alexander is focused on expanding its presence in the Democratic Republic of Congo (DRC) and Zambia, both prime locations of high-grade copper deposits. With more than a century of experience, the company has been expanding into most gold- and copper-producing... 

Accelerating growth  of services in Africa
CONTRACTS CAPTURED In the past eight months, Fraser Alexander has secured two new hydraulic mining contracts in the Democratic Republic of Congo and one tailings deposition contract in Zambia

Demand for African resources, but common codes needed

By: Simone Liedtke     14th July 2017 African mining has entered into the new up-cycle for commodities, which is fuelled by the economic growth profile in the eastern hemisphere – which includes China, Mongolia and the Pacific rim region, as well as the global uncertainty over the value of and the sustained availability of ‘cash-money’. 

Demand for African resources, but common codes needed
A CASE FOR MAJORS Bulk commodities are for major investors only, as these require substantially ‘deep pockets’

Chile's Collahuasi copper mine cuts 115 jobs

By: Reuters     13th July 2017 Chilean copper mine Collahuasi, a joint venture of Anglo American and Glencore, said on Wednesday it will cut 115 jobs, including executives, as part of a plan to boost efficiency amid low prices for the metal. Collahuasi, one of the world's largest copper mines, said in a statement that its... 

Taseko scales back Gibraltar ops as BC wildfires complicate employee commutes

By: Henry Lazenby     13th July 2017 Base metals producer Taseko Mines has scaled back mining and milling operations at its cornerstone Gibraltar mine, in response to the severe wildfire conditions in the Cariboo region of British Columbia. The Vancouver-based company reported that despite there not being any fires in the immediate... 

Capstone improves Q2 output as mines bounce back

By: Henry Lazenby     13th July 2017 Shareholders rewarded Canadian copper producer Capstone Mining on Wednesday, pushing its TSX-listed stock up some 11% following the Vancouver-headquartered company reporting improved second-quarter production results. Copper output rose 15% quarter-over-quarter in the three months ended June,... 

ASA’s shares surge on takeover offer from Chinese firm

By: Creamer Media Reporter      12th July 2017 The share price of Aim-listed ASA Resources rose more than 45% on Wednesday morning, after it announced that investment company Rich Pro Investments (RPI) has made an offer to acquire the company. RPI, which is owned by Chinese copper processing firm and nonferrous metals trader Hailiang, has... 

ASA’s shares surge on takeover offer from Chinese firm

Chamber’s interdict application likely to succeed – attorney

By: Nadine James     12th July 2017 Mining industry employers’ organisation Chamber of Mines’ (CoM’s) urgent interdict application to halt the implementation of the third iteration of the Mining Charter – published by Mineral Resources Minister Mosebenzi Zwane on June 15 – is likely to succeed, says Webber Wentzel partner Rita... 

Chamber’s interdict application likely to succeed – attorney
Photo by Ilan Solomons
Mineral Resources Minister Mosebenzi Zwane

Argentina court orders suspension of Glencore's Alumbrera mine

By: Reuters     12th July 2017 A federal court in Argentina has ordered the suspension of activities at Glencore's Alumbrera gold and copper mine as part of a pollution complaint, according to court documents seen by Reuters on Tuesday. The mine, in the northwestern province of Catamarca, had been scheduled to shut down next... 

EPA considers cancelling Clean Water Act veto on debated Pebble project, Alaska 

By: Henry Lazenby     12th July 2017 The US Environmental Protection Agency (EPA) has issued a pre-publication federal register notice to withdraw the July 2014 Clean Water Act (CWA) Section 404(c) proposed determination, which would have pre-emotively imposed restrictions on the discharge of dredged or fill material from the Pebble... 

EPA considers cancelling Clean Water Act veto on debated Pebble project, Alaska
Photo by Northern Dynasty Minerals
The controversial Pebble copper/gold project, in south-west Alaska
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