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Copper News

Global copper surplus falls 12.8% to 110 000 t

By: Henry Lazenby     24th May 2018 The global refined copper balance for the first two months of this year indicates a surplus of about 110 000 t, a 12.8% drop year-on-year, the International Copper Study Group has found. The Lisbon, Portugal-based think tank said apparent refined demand increased 3.9% year-on-year to 3.77-million... 

Copper shortfall expected – Antofagasta CEO

By: Henry Lazenby     24th May 2018 London-based base metals company Antofagasta said on Wednesday it expects a shortfall of copper to emerge because of the slow rate at which new mines are permitted and built. Antofagasta chairperson Jean-Paul Luksic said at the company's annual general meeting that the emergence of new sources of... 

Euro Sun says Rovina Valley mining licence working its way through Romania govt

By: Henry Lazenby     24th May 2018 TSX-listed project developer Euro Sun Mining reported on Wednesday that the mining licence for its flagship Rovina Valley copper/gold project, in Romania, is working its way through government, with the National Agency for Mineral Resources and the Secretary General of Government (SGG) having... 

Vedanta working with regulators to restart Indian copper smelter

By: Reuters     23rd May 2018 British mining and energy group Vedanta Resources is working with regulators to expedite restarting its copper smelter in the southern Indian state of Tamil Nadu, it said on Wednesday, a day after protests turned violent at the plant. The company also posted a 27% rise in full-year core profit... 

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Gamsberg producing by mid-year – Vedanta
Photo by Dylan Slater
Vedanta chairperson Anil Agarwal

Minotaur buys Syndicated copper

By: Esmarie Swanepoel     23rd May 2018 ASX-listed Syndicated Metals has struck a deal with fellow listed Minotaur Exploration to sell its Northern Hub copper exploration tenements in north Queensland. The project area includes nine exploration permits, which will collectively be known as the Highlands project, covering some 776 km2. 

Avanco warns of cuts at Antas

By: Esmarie Swanepoel     23rd May 2018 Copper miner Avanco has warned shareholders that it might scale back operations at its Antas openpit mine, in Brazil, due to a nation-wide truck driver strike. The miner said on Wednesday that a prolonged strike could adversely impact the supply of consumables for mining and processing... 

Rio Tinto confirms talks to sell $3.5bn Grasberg stake

By: Henry Lazenby     23rd May 2018 Multinational diversified miner Rio Tinto confirmed on Tuesday that it is in talks to potentially sell its stake in the Grasberg copper/gold mine, in Indonesia, to PT Indonesia Asahan Aluminium (Inalum) for $3.5-billion. Media rumours swirled on Tuesday about the deal, prompting Rio Tinto to make... 

Rio Tinto confirms talks to sell $3.5bn Grasberg stake

Alara gets mining licence in Oman

By: Esmarie Swanepoel     22nd May 2018 Metals developer Alara Resources has been granted a mining licence for its Al Hadeetha copper project, in Oman. CEO Justin Richard said on Tuesday that the granting of a mining licence was a major milestone for the copper project, and for future development of the copper sector in Oman. 

Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi

By: Esmarie Swanepoel     22nd May 2018 Mining major Rio Tinto has called for less interference at the Oyu Tolgoi copper and gold mine, in Mongolia, as it advances underground development. Rio’s copper and diamonds CEO Arnaud Soirat told delegates at the Mongolian Economic Forum that the Oyu Tolgoi development would be used as a... 

Rio Tinto tells Mongolia to interfere less in Oyu Tolgoi

Glencore goes from crisis to crisis with possible bribery probe

By: Bloomberg     21st May 2018 It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo. The world’s biggest commodity trader is facing the possibility of a bribery investigation by British prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of... 

Intrepid looks at new options for Kitumba as Weatherly deal lapses

By: Esmarie Swanepoel     21st May 2018 ASX-listed Intrepid Mines on Monday said that it was considering alternative options for its Zambian assets, given the current copper price environment. The announcement comes after the Zambian Ministry of Mines and Minerals Development’s conditional approval for the sale of Intrepid’s Zambian... 

US confirms list of 35 key minerals, targets domestic supply boost

By: Reuters     21st May 2018 Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to its economic and national security and wants to produce more of domestically. The Department of Commerce will use the list, which was published by the Interior... 

Vale boss prefers giving away windfall to avoid sins of the past

By: Bloomberg     21st May 2018 Vale, once the most generous dividend payer among major mining companies, may be poised to regain that status with its chief executive officer nearing debt targets and unwilling to hoard cash or rush into deals. Like others in the industry, the biggest producer of iron ore and nickel cut... 

Glencore said to face UK bribery probe over Congo dealings

By: Bloomberg     18th May 2018 The UK’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo (DRC), according to two people with knowledge of the matter. Investigators at the Serious Fraud... 

Eritrea 'poison pill' complicates miner Lundin's aspirations – sources

By: Reuters     18th May 2018 The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources is designed to bag the Timok project in Serbia, but it had to... 

Expo will facilitate interaction among sectors of Zambian economy

By: Jessica Oosthuizen     18th May 2018 The Caminex trade expo, which will be held from June 5 to 7 at the Kitwe showgrounds, in Zambia, provides a platform to facilitate interaction among various sectors of the economy, says event co-organiser Specialised Exhibitions Montgomery portfolio director Charlene Hefer. “It will promote... 

Expo will facilitate interaction among sectors of Zambian economy
CHARLENE HEFER Caminex is an important trade platform for the Copperbelt region

Company believes commodities will regain positive momentum

18th May 2018 The commodities markets have been taken aback by rising uncertainties, including an early February equity market sell-off and the trade conflict between the US and China. As the second quarter unfolds, some of these uncertainties should be easier to interpret, however, price volatility and... 

Company believes  commodities will regain positive momentum
Photo by Bloomberg
GROWTH POSSIBILITY Despite some market uncertainty, the global economy is expected to grow at its fastest pace since 2011

Copper coil device to clean contaminated water, field trials under way

By: Jessica Oosthuizen     18th May 2018 Nonprofit organisation promoting copper use in Africa the Copper Development Association Africa (CDAA) is the sponsor of field tests being conducted for a copper coil device that can clean contaminated water. The device has been in development since 2013. Medical company Infection Control Africa... 

Copper coil device to clean contaminated water, field trials under way
Photo by Creamer Media
WATER WORKS The Copper Development Association Africa is the sponsor of field tests being conducted for a copper coil device that can clean contaminated water

Advantageous networking opportunity provided

By: Jessica Oosthuizen     18th May 2018 Spectrometer and analyser supplier Spectrometer Technologies has found that attending the Caminex trade expo, which will be held from June 5 to 7 at the Kitwe showgrounds, in Zambia, is “an exceptional way” of meeting and networking with companies operating in Zambia and the rest of Africa, says... 

Advantageous networking opportunity provided
MIRKO STEINHAGE Throughout the year, there are three or four important mining shows that we feel every company needs to attend, and Caminex is one of those shows

Vedanta chairperson outlines KCM long term growth plan

18th May 2018 Employees of natural resources company Vedanta Resources subsidiary copper mining and smelting company Konkola Copper Mines (KCM) should feel secure and understand that the company cares for them as it rolls out its ‘Path to Growth’ to boost copper production, states Vedanta Resources chairperson... 

Vedanta chairperson outlines KCM long term growth plan
COPPER PRODUCTION Konkola Copper Mines is one of Africa’s largest integrated copper producers and has mining operations in Chingola, Chililabombe, Kitwe and Nampundwe, in Zambia

Vibrating screens in copper production process vitally important

By: Jessica Oosthuizen     18th May 2018 Copper plays an important role in technological advancements, and vibrating- and original-equipment manufacturer and supplier Kwatani is well positioned to take advantage of growing copper demand. “Kwatani offers customised vibrating screens and feeders to the mining industry; we don’t have a... 

Vibrating screens in  copper production process  vitally important
RUGGED AND ROBUST Vibrating screens must be able to handle large tonnages from the crushing or milling process – and efficiently size the material for the downstream process

China's Jinchuan to double African copper, cobalt output – exec

By: Reuters     17th May 2018 China's Jinchuan Group International Resources plans to double its African copper and cobalt production in the next two to three years, its CEO said on Thursday. The company currently produces around 50 000 tonnes of copper and 5 000 tonnes of cobalt a year, Gao Tianpeng said at the LME Asia Week... 

Anglo looks to sell Peru copper stake to Japanese firms – sources

By: Reuters     17th May 2018 Anglo American is likely to sell up to 30% of its multi-billion dollar Peruvian copper project Quellaveco to Japanese entities, including Mitsubishi, which already own part of it, three sources familiar with the matter said. The London-listed miner said in its 2017 financial results it is... 

Aethon to acquire base metals project in Chile

By: Creamer Media Reporter      17th May 2018 TSX-V-listed Aethon Minerals has entered into an option agreement with private Chilean company Sociedad Legal Minera La Florida De Canela to acquire a 100% interest in the Llanos De Llahuin project, in Chile. The project is considered to have potential for a substantial copper/gold/molybdenum... 

First Quantum weighs further increases at Cobre Panama

By: Esmarie Swanepoel     17th May 2018 The Cobre Panama copper project, being developed by dual-listed First Quantum Minerals, is 72% complete and due for first concentrate production early in 2019. Project manager Gavin Ashley told delegates at the Latin America Downunder conference, in Perth, that the process plant would be... 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Avanco a step closer to Pedra Branca

By: Esmarie Swanepoel     16th May 2018 Takeover target Avanco is one step closer to the grant of a provisional environmental licence for its Pedra Branca copper project, in Brazil, following a successful public hearing. The company on Wednesday reported that no objections were recorded at the public hearing, which indicated a strong... 

Vedanta appoints Deshnee Naidoo as Africa Base Metals CEO

By: Simone Liedtke     16th May 2018 Deshnee Naidoo has been appointed as CEO of Vedanta Resources’ Africa Base Metals, an entity through which its zinc and copper assets in South Africa, Zambia and Namibia will be managed. Naidoo’s appointment signals Vedanta group’s ongoing commitment to enhancing its African operations and is... 

Vedanta appoints Deshnee Naidoo as Africa Base Metals CEO
Dheshnee Naidoo has been appointed as CEO of Vedanta Resources’ Africa Base Metals

Katanga ramps up DRC copper, cobalt production as legal woes mount

By: Henry Lazenby     15th May 2018 Commodity giant Glencore’s majority owned and publicly traded Democratic Republic of Congo- (DRC-) focused copper/cobalt unit Katanga Mining is ramping up output after resuming production from the Phase 1 whole ore leaching project on December 11, the company reported on Tuesday. Katanga will... 

Poland's KGHM Q1 net profit falls 38%, comes tad below forecasts

By: Reuters     15th May 2018 Poland's KGHM, one of the world's biggest copper and silver producers, reported on Tuesday a 38% annual fall in its first quarter net profit due to lower production and sales. The State-run KGHM said its net profit for the three months of the year stood at 439-million zlotys compared with... 

Metal Tiger, MOD to start drilling campaign at Botswana project

By: Marleny Arnoldi     15th May 2018 Natural resource investor Metal Tiger on Tuesday said a significant drilling campaign is starting at the T3 Dome Complex at the company’s 30%-owned joint venture project with MOD Resources in the Kalahari copperbelt, in Botswana. This follows the completion of the public review of the... 

DRC Mining Code draft regulations complete, but industry still hopes for changes

By: Marleny Arnoldi     15th May 2018 Major mining companies operating in the Democratic Republic of Congo (DRC) remain hopeful that meaningful changes can still be made to the 2018 Mining Code.  

Rising earnings to mark Americas Silver’s next 3 quarters as silver optionality beckons

By: Henry Lazenby     15th May 2018 Diversified Canadian miner Americas Silver is looking towards growing profit over the next three quarters as lower costs and rising grades at key operations provide it with runway potential to reward investors. “Our job as management is to figure out how to make money at these low silver prices.... 

Savannah’s Oman projects receive Ministerial sign-offs

By: Mariaan Webb     14th May 2018 Aim-quoted Savannah Resources is making progress towards the granting of mining licences for the first two of a planned series of high-grade copper mine developments in Oman. The company has received the required ‘letters of no objection’ from eight Ministries for the Mahab 4 and Maqual South... 

Louis Dreyfus completes $466m sale of metals unit to Chinese fund

By: Reuters     11th May 2018 Louis Dreyfus Company said on Friday it had completed the sale of its metals business to a Chinese investment fund for $466-million, as part of a push to revive profits by focusing on its core agricultural markets. Louis Dreyfus announced in December an agreement to sell LDC Metals to NCCL... 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow

By: Henry Lazenby     11th May 2018 The proponent of what will probably be North America’s next new copper mine development, Nevada Copper, has signed a pre-works agreement with Cementation USA and secured key long-lead time items, further derisking the restart of construction of the company's fully permitted and shovel-ready... 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow
Photo by Nevada Copper
Nevada Copper's Pumkin Hollow underground shaft

Higher metals prices prop up BC mining industry in 2017 – PwC

By: Creamer Media Reporter      10th May 2018 British Columbia's mining industry remained upbeat in 2017, as prices for most metals and minerals produced in the province continued to steadily recover from multiyear lows. Although most commodity prices remain below the record highs seen in 2011, the recent increases are part of an upward... 

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