R/€ = 16.74 Change: 0.04
R/$ = 14.48 Change: 0.04
Au 1228.01 $/oz Change: 9.70
Pt 843.50 $/oz Change: 3.78

Copper News

Arm seeks clarity on new Zambian copper tax before pulling Konkola North trigger 

By: Terence Creamer     20th February 2008 Diversified South African miner African Rainbow Minerals (ARM) and its exploration and development subsidiary, Teal Exploration & Mining, would make a call on the funding arrangements for the 25 000 t/y, $160-million Konkola North copper project, in Zambia, within the next few months, CEO... 

DRC completes mining review, makes details available to firms

By: Mariaan Webb     18th February 2008 The Democratic Republic of Congo has completed the next stage of its mining contract review and made the details available to the companies, a government official said on Monday. "The government is pleased to have delivered on its promise to the mining companies by presenting them with the... 

HudBay expects more zinc, less copper output this year

By: Liezel Hill     15th February 2008 Canada-based Hudbay Minerals expects zinc output to rise and gold and silver production to remain flat in 2008, but will process less copper concentrate in order to comply with Canadian air-quality targets, the company said on Friday. 

Vale iron-ore output rises to record

By: Liezel Hill     15th February 2008 Brazil-based Companhia Vale do Rio Doce (Vale) lifted its iron-ore production to a record 296-million tons in 2007, an increase of 12% on the previous year's performance, the company reported on Friday. However, iron-ore output fell short of the company's own forecasts, because of heavy... 

Harmony shortlists PNG partners, says may recapitalise SA mines to extend life

By: Matthew Hill     15th February 2008 Gold major Harmony Gold has shortlisted a "handful" of possible partners to bring into its Papua New Guinea (PNG) assets, where it was building a gold and copper mine, and searching for more, the firm said on Friday. 

Reliable power conversion to support new copper and cobalt refinery

15th February 2008 Power and automation technology group ABB has announced that it has won a $15-million order to provide six thyristor rectifier plants and related engineering and commissioning services for a new copper and cobalt refinery in the Democratic Republic of Congo (DRC.)  

Petaquilla working on new mine plan for Panama project

By: Liezel Hill     14th February 2008 Vancouver-based Petaquilla Copper (PTC) is developing a new mine plan for its jointly-owned Petaquilla copper project, in Panama, after initial results from a front-end engineering and design study into the project cast doubt on whether construction would begin by the January 1, 2009, deadline... 

Freeport McMoRan working with DRC govt to ensure mine power supply

By: Liezel Hill     14th February 2008 US mining group Freeport McMoRan is working with the Democratic Republic of Congo (DRC) State-owned power company to secure power supply for its jointly-owned $900-million Tenke Fungurume copper/cobalt project in the country. Freeport and the DRC utility were working to refurbish existing power... 

Vedanta accepts bank’s valuation of KCM stake, ZCI says

14th February 2008 JSE-listed copper investor ZCI said on Thursday that India’s Vedanta Resources had accepted the independent investment bank’s valuation of the 28,4% of Konkola Copper Mines shares held by ZCI, valued at $213,15-million, and that the call option process was, accordingly, finalised. In... 

Rio Tinto FY net profit falls to $7,32bn

By: Mariaan Webb     13th February 2008 Rio Tinto, the target of a hostile takeover by larger rival BHP Billiton, on Wednesday reported a 1,7% drop in annual net earnings to $7,32-billion. The company, which released its results for the year ended December 31, however, posted a 1% increase in underlying earnings climbing to... 

Palamin replaces Marshall with Gili as MD

By: Matthew Hill     13th February 2008 JSE-listed copper producer Palabora Mining (Palamin) on Wednesday announced that operations GM Matt Gili would replace Keith Marshall as its MD, after diversified miner Rio Tinto said that it had appointed Marshall to head Ivanhoe Mining in Mongolia.  

Galore Creek review will likely take more than a year – Teck Cominco chief

By: Liezel Hill     12th February 2008 Vancouver-based diversified miner Teck Cominco expects a review of its jointly-owned Galore Creek project, in British Columbia, to take at least a year, and “probably more”, president and CEO Don Lindsay said on Tuesday. Teck and partner NovaGold said in November last year that they... 

Rio Tinto names Palamin chief Marshall to head Mongolia copper project

By: Liezel Hill     12th February 2008 Diversified miner Rio Tinto has appointed Keith Marshall as MD of Ivanhoe Mines Mongolia, the company that owns the Oyu Tolgoi copper/gold project in the country. Marshall is currently MD of copper-miner Palabora Mining, in South Africa, in which Rio Tinto is the majority shareholder. 

Petaquilla 'optimistic' Panama copper project still viable, despite cost threat

By: Liezel Hill     11th February 2008 TSX-listed Petaquilla Copper remains hopeful that a final study on the front-end engineering and design (Feed) for its jointly owned Petaquilla copper project, in Panama, will show that the project remains economically viable, despite surging construction and operating costs, the company said on... 

Costs surge for Panama copper project

By: Liezel Hill     8th February 2008 An early report on the front-end engineering and design (Feed) study under way for the Petaquilla copper project, in Panama, indicates that the cost of building the project may be as much as $3,5-billion, the project's owners said on Friday. 

Katanga agrees to sell DRC deposits to govt for $825m

By: Liezel Hill     8th February 2008 TSX-listed Katanga Mining has agreed to sell two deposits, Mashamba West and Dikuluwe, that form part of its Kamoto property, in the Democratic Republic of Congo (DRC), to State-owned mining company Gécamines for up to $825-million. 

Africo’s much-delayed copper project to start production by end ‘09

By: Jade Davenport     7th February 2008 TSX-listed junior miner Africo Resources said on Thursday that its Kalukundi copper project in the Democratic Republic of Congo (DRC) would be in production by the end of 2009. 

Katanga moves to boost output

By: Matthew Hill     6th February 2008 Copper and cobalt miner Katanga Mining, which on January 11 completed a merger with former competitor Nikanor, plans to produce over 300 000 t of copper and 30 000 t of cobalt from its central African mines by 2011, an executive said on Wednesday. 

$900m DRC copper mine to come on stream in '09 

By: Jade Davenport     6th February 2008 It was announced on Wednesday that mine production at the $900-million Tenke Fungurume copper-cobalt project in the Democratic Republic of Congo (DRC) would begin next year.  

BHP Billiton launches formal, all-share bid for Rio Tinto

By: Liezel Hill     6th February 2008 Diversified miner BHP Billiton has offered 3,4 of its own shares per Rio Tinto share, an increase on an earlier takeover proposal, it said in an ASX announcement. If the takeover was successful, BHP Billiton shareholders would own 56% of the merged entity and Rio Tinto investors would own 44%.... 

Anvil updates DRC feasibility study

By: Liezel Hill     5th February 2008 Montreal-based Anvil Mining has completed an updated feasibility study for the stage II solvent extraction and electrowinning (SX-EW) development at its Kinsevere copper project, in the Democratic Republic of Congo, the firm said this week. 

Private sector to be Zambia’s main minerals exporter with introduction of new mining laws

By: Jade Davenport     5th February 2008 The Zambian government reiterated its intention to revise mining regulations and taxes this year in order to further promote foreign investment in this sector. 

Copper prices may ease; supply seen rising this year

By: Jade Davenport     4th February 2008 The outlook for the copper-trading price over the next four years was predicted to be substantially lower than the current prices of more than $7 200/t. 

US recession would rout base metals prices - economist

By: Jade Davenport     4th February 2008 Canada-based Dundee Wealth Economics chief economist Dr Martin Murenbeeld said on Monday that a looming recession in the US was the most immediate factor challenging the sustainability of curently-high commodity prices. 

African Copper shares suspended after error

By: Liezel Hill     4th February 2008 Shares in TSX- and Aim-listed African Copper were suspended from trading in London on Monday, after 7,24-million new shares in the company were admitted to the exchange earlier than they should have been, due to an administrative error, the firm said. 

Palabora FY profit rises almost fourfold, shares surge

By: Christy van der Merwe     4th February 2008 Copper miner and beneficiator Palabora Mining, on Monday reported a 12,18% increase in headline earnings a share for the 2007 financial year, and an almost fourfold increase in net profit, from R467-million in 2006, to R1,86-billion in 2007. 

Chinalco, Alcoa buy Rio Tinto stake

By: Reuters     1st February 2008 A bullish view of the metals cycle was a driving factor behind Aluminum Corp of China's (Chinalco) move to team up with Alcoa to buy a stake in mining group Rio Tinto, the head of Chinalco said on Friday. 

Ascendant Copper seeks clarification on Ecuador concessions

By: Liezel Hill     1st February 2008 Copper exploration and development company Ascendant Copper plans to “vigorously defend its rights” after receiving notices from the government of Ecuador that claim to nullify two concessions on its Junin project in the country.  

Zambia’s Mkhusi economically viable to develop – African Eagle

1st February 2008 Africa-focused exploration company African Eagle Resources said its 49%-owned Mkushi Copper joint venture (JV) has completed a “very positive” prefeasibility study in Zambia, and that it would now proceed to a definite feasibility study.  

Project house offers solution to skills shortage

By: Shannon de Ryhove     1st February 2008 Engineering project house Bateman Engineering’s (Bateman’s) minerals and metals division has been awarded an engineering and procurement contract by Dynatec Madagascar S.A. to provide a 5 500 t/d sulphuric acid plant, for the utilities section of the Ambatovy Nickel project. The contract is worth... 

Canadian standards body to promote health, safety, enviro management in Africa

By: Dennis Ndaba     1st February 2008 Canadian Standards Association (CSA) Africa, which opened an operational office in South Africa last October, intends capitalising on Canada’s good mining safety reputation. The South Africa office will promote CSA’s global mining experience throughout subequatorial Africa. The organisation’s... 

Canadians expect to develop Botswana copper mines this year

By: Innocent Madawo     1st February 2008 Mention of mining investors going to Botswana almost always conjures up the prospect of more diamond mines. However, two Canadian companies joining the foray into the Southern African country’s rich mining hinterland are not looking for the girl’s best friend. Instead, they are searching for... 

Teck Cominco cuts output forecast for BC copper mine

By: Liezel Hill     31st January 2008 Vancouver-based diversified-miner Teck Cominco expects its Highland Valley Copper mine, in Canada's British Columbia province, to produce about 113 000 t of copper this year, down from previous guidance of 122 000 t. 

Vale gets first green light to bid for Xstrata

By: Keith Campbell     30th January 2008 Brazilian banking group Bradesco has given approval for mining, logistics and energy group Companhia Vale do Rio Doce (Vale) to make a bid for Anglo-Swiss diversified mining group Xstrata. 

Chinese firms to complete acquisition of Canada's Northern Peru Copper

By: Liezel Hill     29th January 2008 Chinese companies Jiangxi Copper and China Minmetals will complete the acquisition of TSX-listed Northern Peru Copper, after shareholders holding about 95,92% of the company had agreed to sell their shares by the time the offer closed, on January 25. 

Katanga holds talks with Gécamines on 'consolidation'

By: Liezel Hill     29th January 2008 TSX-listed Katanga Mining is in talks with Democratic Republic of Congo (DRC) State mining company Gecamines on consolidating its two joint ventures in the country.  

ABB wins $15m DRC order

By: Christy van der Merwe     29th January 2008 Power and automation technology group ABB has won a $15-million contract for a new copper and cobalt refinery in the Democratic Republic of Congo (DRC). 

Teal wraps up drilling programme at DRC copper project

By: Christy van der Merwe     29th January 2008 TSX- and JSE-listed African focused explorer Teal Exploration & Mining's drill programme at the Lupoto copper project, in the Democratic Republic of Congo (DRC), has been completed, and a resource calculation is now under way. 

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