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Copper News

Discovery Metals steps up drilling programme at Botswana project

By: Christy van der Merwe     17th January 2008 Australia- and Botswana-focused miner Discovery Metals has completed the first phase of its Plutus prospect drill programme, in Maun, north-western Botswana, and indicated that the copper-silver mineralisation extends south-west outside of the current boundary of the Plutus inferred mineral... 

Teck Cominco, NovaGold name team to lead Galore Creek review

By: Liezel Hill     16th January 2008 A new management team has been tasked with producing a modified construction and execution plan for the Galore Creek copper/gold project, in British Columbia, Canada, the project's owners, Teck Cominco and NovaGold said on Wednesday 

Xstrata Copper to double scrap recycling capacity

By: Liezel Hill     16th January 2008 The copper unit of diversified miner Xstrata plans to double its capacity to recycle electronic scrap metal at its Horne smelter, in Quebec, Canada, to 100 000 t/y, the group said on Wednesday. 

Rio Tinto iron-ore output rises to new record

By: Olivia Soraya Spadavecchia     16th January 2008 Diversified mining giant Rio Tinto's iron-ore production set a new annual record at 179-million tons in 2007, the company reported on Wednesday. 

Metorex finds share plunge 'bizarre' 

By: Matthew Hill     16th January 2008 JSE- and LSE-listed diversified miner Metorex said on Wednesday that the recent weakening of its share price was "bizarre", as the firm's fundamentals "have never, ever been better", but it expected that trading in its securities should stabilise after its offer to Copper... 

Frontera Copper misses production forecast on strike at supplier

By: Liezel Hill     16th January 2008 Canadian copper producer Frontera Copper said on Tuesday that it had produced 53,7-million pounds of copper cathode last year from its Piedras Verdes mine, in Mexico, about 6% less than an earlier forecast of 57-million pounds.  

Freeport-McMoRan meets DRC protesters after 'misunderstanding'

By: Liezel Hill     15th January 2008 Freeport-McMoRan Copper & Gold, the world's largest publicly-traded copper company, had met with representatives of a group which held protests this week at its Tenke Fungurume mine, in the Democratic Republic of Congo (DRC), VP for communications Bill Collier told Mining Weekly Online. 

Palamin FY copper output up 13% to 91 000 t

By: Matthew Hill     15th January 2008 Rio Tinto-owned Palabora Mining (Palamin) produced 13% more refined copper in 2007 than during the previous year, it said on Tuesday.  

Long-lead items ordered for Mexico copper/cobalt project

By: Liezel Hill     14th January 2008 Vancouver-based Baja Mining has begun placing orders for the construction camp and several long-delivery-time items for its Boleo copper/cobalt project, in Mexico, the firm said on Monday. 

Yamana lifts production outlook

By: Liezel Hill     14th January 2008 Canadian gold-miner Yamana Gold expects to produce as much as 1,35-million gold-equivalent ounces in 2008, and 1,6-million ounces in 2009, as it brings new mines into production, the company said on Monday. 

Katanga shareholders approve Nikanor merger

By: Liezel Hill     11th January 2008 The merger between Katanga Mining and Nikanor will go ahead, after 72,4% of the votes cast at a meeting of Katanga shareholders on Friday were in favour of the deal.  

AngloGold Ashanti may consider legal challenge to Argentina export taxes

By: Liezel Hill     11th January 2008 Gold major AngloGold Ashanti would consider following other mining companies with operations in Argentina in a court challenge to new export taxes, if discussions with the country's government proved unsuccessful, spokesperson Alan Fine said on Friday. 

Zambia sees $400m in revenue from new mining tax

By: Reuters     11th January 2008 Zambia will introduce a windfall mining tax this year in a move it expects to generate $400-million in revenue, President Levy Mwanawasa said on Friday. 

Explorer plans move to main TSX board

By: Liezel Hill     10th January 2008 Canadian exploration firm Linear Metals, which currently trades on the TSX Venture Exchange, has filed a listing application with the TSX and plans to graduate to the main board of the exchange early this year, the firm said on Thursday. 

Canadian explorer partners Chile's Codelco in search for gold

By: Liezel Hill     10th January 2008 Vancouver-based Fortune Valley Resources has signed an agreement with Chile's State copper-miner Corporacion Nacional del Cobre de Chile (Codelco) for a majority stake in the Anillo property, in Region II of Chile. 

Katanga shareholders to vote on Nikanor merger

By: Olivia Soraya Spadavecchia     10th January 2008 The shareholders of Katanga Mining would be voting on the proposed merger between the company and Nikanor, at its general meeting on Friday, Nikanor said on Thursday. 

Canadian Trade Minister seeks answers on Mongolia copper project

By: Liezel Hill     9th January 2008 Canada's Minister of International Trade, David Emerson, was expected to raise the Oyu Tolgoi copper/gold project in discussions this week with Mongolia's government, amid reports that the country's new Prime Minister, Sanjaa Bayar, wanted his cabinet to re-examine a draft... 

ZCI still hopeful of Konkola stake valuation in January

By: Matthew Hill     9th January 2008 JSE-listed Zambia Copper Investments (ZCI) said on Wednesday that, while it still expects to receive the independent valuation of its 28,4% stake in Konkola Copper Mines (KCM) by mid-January, there might yet be further delays. 

Workers end strike at Chinese-owned Zambia smelter

9th January 2008 About 500 workers at a Chinese-owned copper smelter in Zambia returned to work on Tuesday after deciding to end a strike over pay and benefits, a union official said. 

Zambia cites environment in mine suspension

9th January 2008 Zambia's second largest copper and cobalt producer has had a new mining project suspended after the government decided it failed to meet environmental standards, an official said on Tuesday. 

Eritrea issues mining permit for Bisha project

By: Liezel Hill     8th January 2008 The government of Eritrea has awarded a mining licence for the Bisha gold and base metals project, Vancouver-based Nevsun Resources said on Tuesday. 

Aim Resources to start drilling at Zambian copper/gold project

8th January 2008 Australian-listed AIM Resources said on Tuesday that it would start drilling on the Mumbwa copper/gold project, in Zambia, this month. 

China's Jinchuan offers to buy Tyler Resources

By: Liezel Hill     7th January 2008 China's biggest producer of nickel, cobalt and platinum-group metals, Jinchuan Group, has offered C$1,60 a share in cash for Canadian exploration firm Tyler Resources. 

Rio Tinto granted option on Argentine copper/gold prospect

By: Liezel Hill     3rd January 2008 Vancouver-based Global Copper has granted an option on a 75% interest in its Taca Taca gold and copper deposit, in Salta province of Argentina, to a wholly-owned subsidiary of Rio Tinto, the company said on Thursday.  

ZCI, Vedanta dispute heads for resolution

By: Liezel Hill     2nd January 2008 JSE-listed Zambia Copper Investments (ZCI) expects to resolve a long-running dispute with India's Vedanta Resources, over a call option on shares held by ZCI in Konkola Copper Mines (KCM), by the end of its curent financial year, the firm said this week. 

Metorex extends deadline for CRC offer

By: Liezel Hill     2nd January 2008 Diversified miner Metorex has extended its offer to minority shareholders in Copper Resources Corporation (CRC) to January 7, after receiving acceptances equal to about 6,42% of the company, the firm said on Wednesday. 

Barrick owns more than 94% of Arizona Star

By: Liezel Hill     19th December 2007 The world's biggest gold producer, Barrick Gold, has bought more than 94% of Toronto-based Arizona Star, enabling it to conclude its offer for the company, the company said on Wednesday. 

ZCI expects interim headline EPS to fall 20% - 30%

By: Liezel Hill     19th December 2007 JSE-listed copper and cobalt company Zambia Copper Investments (ZCI) expects headline earnings a share for the six months ended September 30 to be between 20% and 30% lower than for the same period the previous year. 

Katanga produces first copper cathode at DRC mine

By: Liezel Hill     18th December 2007 Katanga Mining, which is proposing to merge with rival Nikanor, has produced the first copper cathode from its Kamoto joint venture (JV), in the DRC, the company said on Tuesday. 

World copper-mining capacity to reach 22m t/y by 2011 – study group

By: Liezel Hill     14th December 2007 Global copper mine output capacity is expected to grow at an average rate of 5,3% a year between 2007 and 2011, the International Copper Study Group (ICSG) said on Thursday. 

Xstrata announces additional resources at nickel, copper projects

By: Christy van der Merwe     14th December 2007 Diversified miner Xstrata has announced increased inferred resources for two of its projects, namely Xstrata Nickel's Raglan operation in northern Quebec, and Xstrata Copper's Tampakan operation in the Phillipines. 

Freeport McMoRan president, COO Tim Snider to retire

By: Liezel Hill     13th December 2007 The world's biggest publicly-traded copper producer, Freeport McMoRan said on Thursday that its president and COO, Tim Snider, would retire on April 1, 2008. 

DRC blocked copper shipments to Zambia - First Quantum

By: Liezel Hill     12th December 2007 Democratic Republic of Congo (DRC) focused copper-miner First Quantum Minerals will soon begin transporting copper concentrate from its Frontier mine to smelter facilities in Zambia, after a government order halted the shipments last month, the company said on Wednesday.  

London-listed miner reports 46% increase in Botswana copper resource

By: Olivia Soraya Spadavecchia     10th December 2007 Aim-listed Discovery Metals Limited reported a further 46% increase in the total inferred resource in the company's wholly owned Maun copper project in north-west Botswana. 

Anglo-linked company scours the ocean floor for precious and base metals

By: Irma Venter     7th December 2007 There is quite a bit more underneath the sea than diamonds and oil. 

Firestone takes control of Canadian gold project

By: Liezel Hill     6th December 2007 Canada-based exploration and development company Firestone Ventures has excercised its option to earn an 80% interest in the Sonora gold/silver/copper/molybdenum project, in Canada's Yukon Territory. 

First Quantum lifts stake in Equinox to 17,27%

By: Liezel Hill     6th December 2007 Zambia-focused copper-miner First Quantum said on Thursday that it had bought an additional 7,32% of rival Equinox Minerals, bringing its holding in the company to 17,27%. 

Palamin to spend R200m on studies to boost copper reserves, iron-ore output

By: Liezel Hill     6th December 2007 JSE-listed Palabora Mining (Palamin) has approved R200-million for a study of additional underground copper reserves (R150-million) and a prefeasibility study into expanding iron-ore outputt, the firm said in a statement on Thursday. 

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