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Copper News

Taseko eyes restart of molybdenum circuit as prices rise

By: Natasha Odendaal     Updated 2 hours 30 minutes ago With molybdenum prices starting to recover, dual-listed Taseko Mines is considering its options to restart the molybdenum circuit at the Gibraltar mine, in British Columbia. The recent edging up of the price of molybdenum to $6.50/lb prompted the Canada-headquartered firm to consider the... 

MMG shifts from zinc to copper as Las Bambas hits commercial production

By: Mariaan Webb     Updated 2 hours 51 minutes ago China-owned MMG’s production has shifted from zinc to copper, as mining and processing ended at the Century mine, in North Queensland, and the new major Las Bambas mine, in Peru, starts operating commercially. Following successful construction, commissioning and ramp up, Las Bambas produced 87... 

MMG shifts from zinc to copper as Las Bambas hits commercial production
The Century zinc mine ceased operations in 2015.

Royalties in Congo mining heartland down 35% in H1

By: Reuters     Updated 4 hours ago Royalties paid by mining companies in Democratic Republic of Congo's copper-rich southeast dropped by 35% in the first half of this year compared to the same period in 2015, a report by the local division of mines said. The government of Africa's largest copper producer cut its 2016 budget by 22%... 

Royalties in Congo mining heartland down 35% in H1

Independence to raise up to A$280m to strengthen balance sheet

By: Creamer Media Reporter      27th July 2016 ASX-listed Independence Group (IGO) plans to raise up to A$280-million to strengthen its balance sheet and fund the remaining capital expenditure (capex) for its Nova base metals project, in Western Australia. The equity raising comprises a A$250-million fully underwritten placement and an up to... 

Independence to raise up to A$280m to strengthen balance sheet
The Tropicana mine is a joint venture between Independence Group and AngloGold Ashanti.

Southern Copper reports 24.7% fall in Q2 profit vs year earlier

By: Reuters     27th July 2016 Southern Copper Corp said on Monday that its net profit fell 24.7% to $221.9-million, or $0.29 a share, in the second quarter from the same period a year earlier as copper prices continued to slump. The Arizona-based miner, which operates in Peru and Mexico, said its copper output rose 26.1% in... 

Antofagasta sees full-year copper production at lower end of forecasts

By: Reuters     27th July 2016 Chilean copper miner Antofagasta said full-year copper production would be at the lower end of the 710 000 t to 740 000 t it predicted in January, as a global market surplus shows little sign of easing. In common with other mining companies, Antofagasta has this year staged a recovery from the... 

Antofagasta sees full-year copper production at lower end of forecasts

Philippines will not allow Tampakan mine to operate as openpit – Minister

By: Reuters     27th July 2016 The Philippine minister in charge of mining said she will not allow the $5.9-billion Tampakan gold and copper mine in southern Mindanao island to operate as an open-pit site and vowed to shut more operations causing environmental destruction. The Tampakan project is the biggest stalled mining... 

Damaged Namibian furnace set for three-week refractory lining replacement – Dundee

By: Creamer Media Reporter      26th July 2016 TSX-listed Dundee Precious Metals expects its 2016 concentrate throughput to be about 20 000 t less than planned, after a power outage led to damage to the refractory lining of the Ausmelt furnace at its Tsumeb smelter in Namibia. Subsequent to a power blackout in Namibia on July 22, cooling... 

Chamber disputes veracity of Unctad underinvoicing claim 

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Strike ends at Anglo's El Soldado copper mine in Chile

By: Reuters     25th July 2016 Workers at Anglo American's small El Soldado copper mine in Chile called off a strike on Friday after reaching an agreement with the company, a union official told Reuters. The union has been on strike since July 8 after initial discussions failed with the company during its contract talks. 

Weatherly Q4 output drops on higher-than-expected groundwater inflows

By: Natasha Odendaal     22nd July 2016 Increased groundwater inflow rates have hampered production at the Tschudi openpit copper mine, in Namibia, in the quarter ended June 30. Aim-listed Weatherly International on Friday said the groundwater inflow rates had surpassed the levels forecast in the operation’s bankable feasibility study,... 

Prominent Hill bounces back, Oz Minerals to meet FY guidance

By: Mariaan Webb     22nd July 2016 South Australian copper and gold miner Oz Minerals has maintained its full-year production guidance, despite losing about 10% of its plant availability in the June quarter owing to unplanned repairs. The Prominent Hill mine produced 27 350 t of copper in concentrate and 30 099 oz of gold in... 

Prominent Hill bounces back, Oz Minerals to meet FY guidance
The Prominent Hill mine in South Australia.

Ruskoway outlines ambitious plans to develop diverse asset portfolio

By: Ilan Solomons     22nd July 2016 South African junior mining and exploration company Ruskoway is intent on developing its four diversified mineral resource projects in South Africa, says Ruskoway project manager Siyabonga Sibiya. The company’s Fonte Verde platinum-group metals (PGMs), nickel and copper deposit is located near... 

Ruskoway outlines ambitious plans to develop diverse  asset portfolio
IRON MINERALISATION Ruskoway’s latest testwork on Matayo has established that a final product of up to 69% iron maghemite can be produced

Oz Minerals, Mithril to explore for nickel/copper in S Australia

By: Megan van Wyngaardt     21st July 2016 Oz Minerals has entered a heads of agreement with Mithril Resources to explore seven new nickel/copper licence areas in South Australia. Mithril will undertake a target generation exercise in the Coompana block of the far west of South Australia, with a view of identifying potential drill... 

BC govt amending Taseko’s environmental assessment certificate

By: Megan van Wyngaardt     21st July 2016 The British Columbia Environmental Assessment Office is proceeding with TSX-listed Taseko Mines’ request for it to amend the environmental assessment certificate of its New Prosperity gold/copper project in central British Columbia. In February, Taseko sued the federal government in the Supreme... 

Independence develops Bollinger decline early

By: Creamer Media Reporter      21st July 2016 Base metals firm Independence Group (IGO) is accelerating the development of the Bollinger orebody at the Nova nickel/copper/cobalt project, announcing on Thursday that work has begun on a new decline. Early access to the Bollinger orebody is expected to deliver enhanced early cash flow and... 

Contractor selected for Oyu Tolgoi underground decline

By: Mariaan Webb     20th July 2016 Australia-headquartered Cimic Group’s mining services contractor Thiess has secured the first underground decline project at the Rio Tinto-operated Oyu Tolgoi copper and gold project, in Mongolia, in a joint venture with local contractor Khishig Arvin. The Thiess-led contract will include the... 

Contractor selected for Oyu Tolgoi underground decline

Lundin granted extension to decide on Tenke Fungurume buyout

By: Creamer Media Reporter      20th July 2016 Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF... 

BHP aims to grow copper, iron-ore, coal volumes in FY17

By: Mariaan Webb     20th July 2016 Diversified mining group BHP Billiton, which narrowly missed its iron-ore production guidance for the 2016 financial year, aims to grow its copper, iron-ore and metallurgical coal production in the next financial year by focusing on improving its productivity. Reporting on the group’s 2016... 

BHP aims to grow copper, iron-ore, coal volumes in FY17
BHP Billiton CEO Andrew Mackenzie

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon 

By: Martin Creamer     19th July 2016 Mineral Resources Minister Mosebenzi Zwane would do well to ponder last Friday’s landmark Constitutional Court judgment as he and his department mull public comments on the draft reviewed Mining Charter that he sprung on the South African mining industry in a surprise April gazetting. This is... 

Judgment shows courts won’t easily endorse Mining Charter III's blunt arithmetical quotas – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Peter Leon,

EU launches WTO challenge to Chinese raw material duties

By: Reuters     19th July 2016 The European Union launched a third legal challenge on Tuesday to restrictions on Chinese exports of 11 key metals and materials, joining the United States in suing Beijing for unfairly favouring Chinese industry. The bloc is seeking formal consultations with China, the first step in World Trade... 

Construction of Carrapateena decline to start as contractor is selected

By: Mariaan Webb     19th July 2016 Australian company Pybar Mining Services has been selected as the contractor for the Carrapateena decline project, in South Australia, in a $65-million tender that has attracted significant interest from international and domestic companies. Announcing Pybar as the winner of the “hotly contested... 

Amended environmental approval for Altona’s Cloncurry

By: Mariaan Webb     19th July 2016 Junior Altona Mining’s Cloncurry project in Queensland has received amended environmental approval from the Queensland Environment and Heritage department, paving the way for closing a $238.5-million joint venture agreement with Sichuan Railway Investment Group (SRIG). 

Metal Tiger reports high potential for huge copper deposits in Botswana

By: African News Agency      19th July 2016 LSE-listed Metal Tiger Plc has announced the discovery of new copper mineralisation indicators which are potentially proof of the availability of huge deposits in the Mahumo Concession of the Kalahari Copperbelt in Botswana. In a cautionary notice issued to shareholders, the company said the new... 

Congo's small miners fill hole left by downsizing multinationals

By: Reuters     18th July 2016 His toes bursting out of sneakers several sizes too small, a miner hacks with a pick at the copper and cobalt-laced stone in southeastern Congo, slowly filling a sack that could earn him anywhere from a handful to a few hundred dollars. The 42-year-old father of five, who only gave his first... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms 

By: Martin Creamer     18th July 2016 The Taxation Laws Amendment Bill released on July 8 contains two surprise amendments to mineral royalty taxation on the eve of the Davis Tax Committee’s next mining tax report, which is expected to provide the royalty regime with much needed certainty. The two amendments proposed in the Bill,... 

Tax Bill throws up royalty surprises as Davis Tax Committee mulls broader mining reforms
KPMG tax head Muhammad Saloojee talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Imperial Metals lifts Red Chris output as Mount Polley restarts

By: Henry Lazenby     16th July 2016 Base metals producer Imperial Metals reports that the Red Chris mine, in north-west British Columbia, increased copper and gold production by 14% and 23%, respectively, during the second quarter ended June, producing some 26.74-million pounds copper and 18 213 oz gold. The TSX-listed miner on... 

RTG Mining raises $15m in oversubscribed placement

By: Mariaan Webb     15th July 2016 TSX- and ASX-listed RTG Mining has received commitments to raise $15-million in a private placement, which the company said on Friday was “heavily” oversubscribed. RTG noted that the strong demand for the placement reflected the quality of the high-grade, near-term copper/gold production... 

Stormy seas hit Chile copper exports, could buoy prices

By: Reuters     15th July 2016 Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world's top producer in the second half of June, potentially supporting prices in a market grappling with oversupply. Cargoes were stranded at ports as stormy weather prevented ships from loading, said miners... 

Pneumatic equipment no longer centre stage, but still has place

By: Sebastian Whyle     15th July 2016 The uptake of pneumatic tools at mine sites has slowed, owing to new mining technology and techniques, equipment provider Borwa Mining Instruments MD Lebogang Matlou tells Mining Weekly.  

Pneumatic equipment no longer centre stage, but still has place
RIGOROUS REQUIREMENTS Mining companies are cleaning house, looking for genuine, nonfronting and reliable black-youth-owned mining suppliers

Orion secures advanced nickel-copper project in S Africa’s Northern Cape

By: Samantha Herbst     14th July 2016 ASX-listed Orion Gold has secured an exclusive right to earn up to an 80% interest in the Jacomynspan nickel-copper-platinum group elements (PGE) project, located in South Africa’s Northern Cape province, through a 74% Orion-owned South African subsidiary company. Orion noted on Thursday that it... 

Sandfire starts Monty feasibility study, submits mining lease application

By: Creamer Media Reporter      14th July 2016 ASX-listed Sandfire Resources, as the manager of the Springfield joint venture (JV), has submitted a mining lease application to the Western Australian Department of Mines and Petroleum for the Monty copper/gold project and has started a feasibility study for the project. Sandfire, which owned... 

Peru's Kuczynski wants to relax air standards to spur refining

By: Reuters     14th July 2016 Peru's President-elect Pedro Pablo Kuczynski called Peru's air quality standards "unrealistic" on Wednesday and proposed lowering them to spur investments in smelters that would boost the country's key mineral exports. Kuczynski, a 77-year-old former investment banker who will take office on... 

US challenges China raw material export duties in trade enforcement push

By: Reuters     14th July 2016 The US challenged China's export duties on nine key metals and minerals on Wednesday, arguing that they violate Beijing's commitments to the World Trade Organisation (WTO) and give an unfair advantage to Chinese manufacturers. The move came with the Obama administration eager to demonstrate that... 

Copper outlook dim as macroeconomic challenges loom

By: Henry Lazenby     14th July 2016 The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected... 

Copper outlook dim as macroeconomic challenges loom

New SEC ruling eases transparency reporting burden on extractive sector

By: Henry Lazenby     12th July 2016 New rules adopted late in June by issuers reporting under the US Securities and Exchange Commission (SEC) held the promise that oil, gas and mining companies operating in Canada, which file annual transparency reports, might now be able to use that same report to meet new US requirements.... 

GR Engineering awarded EPC contract for work on Mungana mine

By: Samantha Herbst     11th July 2016 ASX-listed engineering design and construction contractor GR Engineering Services has entered into an engineering, procurement and construction (EPC) contract with Auctus Resources for the design and construction of completion works associated with the 500 000 t/y Mungana zinc, lead, copper and... 

Panoramic unveils plans for Gum Creek IPO

By: Mariaan Webb     11th July 2016 Base metals and gold company Panoramic Resources on Monday unveiled plans for the partial divestment of its Gum Greek gold project, in Western Australia, by way of an initial public offering (IPO) on the ASX. The company said in May that it would run a dual IPO and sales process for Gum Creek,... 

Panoramic unveils plans for Gum Creek IPO
Gum Creek aerial view
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