R/€ = 16.44 Change: 0.15
R/$ = 14.31 Change: 0.09
Au 1222.20 $/oz Change: -4.48
Pt 832.50 $/oz Change: 0.75

Copper News

Teal forms JV on Namibian gold mine, in talks to sell DRC stake

12th October 2007 Toronto-based Teal Exploration & Mining has agreed to sell an initial 10% of Avdale Namibia, the subsidiary of Teal holding its Otjikoto gold project, to Nambia’s EVI Mining, which has an option to buy a further 5% once a definitive feasibility study has been completed on the project.  

Byproduct proves a lucrative perk for gold, uranium tailings miners

By: Matthew Hill     11th October 2007 With uranium and gold prices looking glossy already, another tailings byproduct is making things look even better for surface miners – sulphuric acid. 

Jubilee reports 'exceptional' results from Tjate borehole

By: Matthew Hill     11th October 2007 Intersects grades of between 5,96 g/t and 11,05g/t platinum group metals. 

Scott Lowe appointed COO of Burkina Faso zinc project

By: Matthew Hill     9th October 2007 Australia-based Aim Resources has appointed ex-BHP Billiton man Scott Lowe as COO of its Perkoa zinc project in Burkina Faso, it said this week. 

African Eagle pays R2,9m to regain control of Zambian project

By: Mariaan Webb     8th October 2007 Diversified-miner African Eagle Resources said on Monday that it had regained sole rights to the Lunga project, in Zambia, after it issued shares worth about R1,5-million, and paid former exploration partner MinEx Project almost R1,38-million to relinquish its earn-in rights.  

Katanga secures $150m loan for DRC copper/cobalt project

By: Matthew Hill     5th October 2007 Democratic Republic of Congo-focused Katanga Mining said on Friday that it had secured a $150-million loan from Swiss Glencore to fund the next stage of development at its copper/cobalt mine. 

Nambian copper/silver mine reaches full production

2nd October 2007 Aim-listed base-metals miner Weatherly International has reached full production at its Tschudi underground mine, in Namibia, on schedule and within budget, the firm said on Tuesday. 

‘Excellent’ drilling results from Zambia copper prospect

2nd October 2007 Aim- and ASX-listed Zambezi Resources has received “excellent” results from infill and reverse-circulation (RC) drilling at its Cheowa copper/gold project, in southern Zambia, the firm said on Tuesday. 

'Fabulous' Kinsevere copper find without equal world wide, says Anvil

By: Martin Creamer     2nd October 2007 "I would challenge anyone to find as good an intersection as this anywhere in the world," Anvil Mining VP exploration Nick Franey said of the "fabulous" Kinsevere deposit in the Democratic Republic of Congo (DRC), which he says not only extends exceptionally deep, but also has... 

African Eagle open to talks with SA firms on potential uranium partnerships 

By: Matthew Hill     1st October 2007 Junior explorer African Eagle Resources, which listed on Johannesburg's AltX on Aug 24, called on South African companies that could be interested in partnering it to develop its early-stage uranium prospects to approach it. 

DRC mining review increases risks, but will attract investment in the long term

By: Mariaan Webb     21st September 2007 The Democratic Republic of Congo (DRC) government's decision to embark on a review of mining agreements was increasing the risk of doing business in that country, but once completed, it could boost investment, mining pundits agreed on Friday. The country had set up a commission to review... 

DRC court restores Kalukundi project to Africo, miner claims

By: Mariaan Webb     20th September 2007 Canadian miner Africo Resources said on Thursday that a Democratic Republic of Congo (DRC) court had reinstated it as the owner of the Kalukundi asset in that country. 

ICS to complete EIA by year-end at Zambian copper prospect

20th September 2007 The environmental impact assessment process is under way for ICS Copper Systems' Mokambo copper project, in Zambia, and is expected to be completed and approved by the end of the year, the company said on Thursday. 

DRC court rules Camec permits still valid

By: Mariaan Webb     19th September 2007 Mining and exploration firm Camec said on Wednesday that a Democratic Republic of Congo (DRC) court had ruled that its mining permits were valid, but the State still disagreed. 

Metorex completes acquisition of stake in DRC copper producer

By: Matthew Hill     18th September 2007 JSE-listed diversified miner Metorex has fulfilled all conditions precedent for its acquisition of Forrest Group’s stake in Democratic Republic of Congo focused Copper Resources Corporation (CRC), it said on Tuesday. 

Citigroup to advise on development of Cameroon cobalt-nickel project

18th September 2007 Toronto-listed Geovic Miningļæ½s 60%-owned subsidiary, Geovic Cameroon, has apppointed Citigroup as its exclusive financial advisor for the development and construction of the Nkamouna cobalt-nickel project in Cameroon, the firm said on Tuesday. 

Botswana renews African Copper exploration permits

By: Olivia Soraya Spadavecchia     18th September 2007 The Botswana government has renewed licences held by AIM-, TSX- and Bostwana Stock Exchange-listed African Copper for four exploration licences, covering 3 528 km2.  

African Eagle receives Zambian exploration licence

18th September 2007 The Zambian government has granted exploration firm African Eagle Resources a prospecting licence to explore for copper at its Mokambo South project, near Ndola, the company said on Tuesday. 

Jubilee widens loss on once-off costs

By: Matthew Hill     17th September 2007 Aim- and JSE-listed exploration and development company Jubilee Platinum said on Monday that its after-tax loss for the year ended June 30 was 1,74-million pounds, or about R25-million, compared with the figure of 738 409 pounds, or about R10,6-million, for the previous year, after costs to list... 

Low-hanging fruit still in Africa, says Motsepe

By: Christy van der Merwe     14th September 2007 With a focus on accelerating exploration and production build-up in Africa, diversified miner African Rainbow Minerals (Arm) increased exploration expenditure to R126-million, through TSX- and JSE-listed exploration and mining company Teal. 

Nikanor 'comfortable' with DRC rights environment

By: Mariaan Webb     12th September 2007 Nikanor, a mining company owning assets in the Democratic Republic of Congo (DRC), said it was "pretty comfortable" with its mining rights position in that country, despite an ongoing review of all existing mining agreements in that country. 

Nikanor to secure outstanding finance in 2008 for DRC project 

By: Mariaan Webb     12th September 2007 LSE-listed copper-miner Nikanor had secured funding for two-thirds of its flagship KOV project in the Democratic Republic of Congo (DRC), and plans were in place to arrange the last stretch of debt funding next year, the company said on Wednesday. Nikanor planned to fund the balance of finance... 

Equinox considers dedicated uranium plant for Zambian copper project

7th September 2007 A separate uranium processing plant is being considered by ASX-listed Equinox Minerals to maximise the by-product potential of its $760-million Lumwana copper project, in Zambia, which is due to come on stream mid-2008. 

Katanga 'not suprised' after hostile Camec bid withdrawn

By: Mariaan Webb     6th September 2007 Copper/cobalt producer Katanga Mining CEO Arthur Ditto said the company was "not surprised" that Central Africa Mining and Exploration (Camec) withdrew its C$1,5-billion bid for the company this week.  

Anvil expects to start mining 'within weeks' at Dikulushi

By: Matthew Hill     6th September 2007 Copper miner Anvil Mining expects to mine the first underground copper ores from its Dikulushi mine in the Democratic Republic of the Congo (DRC) within weeks, the firm said on Thursday.  

Bateman Engineering awarded $50m contract for Zambian copper plant

By: Olivia Soraya Spadavecchia     6th September 2007 Project house Bateman Engineering has been awarded the order for engineering, procurement and construction-management services, worth $46-million, for the Luanshya copper mines' Muliashi copper project located in north-west Zambia.  

Camec Katanga bid withdrawn after DRC 'uncertainy'

By: Olivia Soraya Spadavecchia     5th September 2007 Mining group Central African Mining and Exploration Company (Camec) has withdrawn its offer for Katanga Mining, the company said in a statement on Wednesday.  

ZCI finalises terms of engagement for KCM stake valuation

By: Matthew Hill     5th September 2007 JSE-listed miner Zambia Copper Investments (ZCI) said on Wednesday that it had now finalised the independent investment bank's terms of engagement regarding the valuation of its stake in Konkola Copper Mines (KCM). 

Eyebrows go up as Arm pays maiden dividend, plans big capex roll-out 

By: Matthew Hill     3rd September 2007 Black-owned diversified miner African Rainbow Minerals (Arm) announced its first dividend payment on Monday, amounting to R315-million. However, a local mining analyst questioned the prudence of the timing of the payout, when viewed in light of the company's planned capital spend of... 

Teal aproves $1,5m for Konkola North project

2nd September 2007 TSX- and JSE-listed Teal Exploration and Mining has approved an initial $1,5-million to develop the Konkola North copper project, in Zambia, the company said on Friday. 

Camec expects formal notice of permit revocation, shares resume trade

31st August 2007 Democratic Republic of Congo-focused (DRC-focused) miner Central African Mining and Exploration (Camec) resumed trading on London's Aim market on Friday, after the company provided an update on its mining permit in the DRC. 

Discovery Metals moves to final testing phase at Botswana nickel project

By: Olivia Soraya Spadavecchia     31st August 2007 Metallurgical tests, based on oxidation heap leaching of samples of nickel-copper sulphide mineralisation from Discovery Metals' Dikoloti nickel project in northeast Botswana, are progressing to their final phase of testing following positive initial tests. 

Camec halts trade of shares after Thursday's fall

By: Matthew Hill     31st August 2007 Democratic Republic of Congo-focused (DRC-focused) miner Central African Mining and Exploration (Camec) on Friday froze trading of its securities on London’s Aim, after its market capitalisation plunged yesterday on an announcement by the African country’s government that it had... 

Chrometco considers offer for SA chrome asset

By: Matthew Hill     31st August 2007 AltX-listed diversified mining firm Chrometco said on Thursday that it had received numerous offers for its chrome resource on portion 2 of the Farm Rooderand in the North West Province, and that it was seriously considering one particular offer of R60-million. 

Nothing to suggest that stable aluminium prices will move up or down significantly

By: Irma Venter     31st August 2007 London-based Natixis Commodity Markets (NCM) projects a relatively balanced aluminium market this year, with the deficit expected at 50 000 t for 2007, compared to last year’s 357 000 tons. 

Camec makes C$1,5bn bid for Katanga

By: Reuters     29th August 2007 London-listed Central African Mining & Exploration launched a formal offer for Katanga Mining Ltd on Wednesday, but Katanga CE Arthur Ditto said he was not interested. 

ZCI and Vedanta Resources move towards next milestone in KCM dispute resolution

By: Olivia Soraya Spadavecchia     28th August 2007 JSE-listed copper and cobalt Zambia Copper Investments (ZCI) and Vedanta Resources expect to finalise the independent investment bank`s terms of engagement in the next seven days. 

Explorer gears up for precedent-setting AltX listing

By: Matthew Hill     23rd August 2007 Aim-listed exploration firm African Eagle Resources, which debuts on Johannesburg's burgeoning AltX on Friday, could be the first of many Aim-listed exploration companies to join the Johannesburg bourse, it said on Thursday. 

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