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Copper News

Explorer pursues manganese opportunities

10th August 2018 Perth-based explorer Bryah Resources is looking towards mining manganese in Western Australia, as it assesses development opportunities at the Horseshoe South manganese mine. The company has locked in an exclusive one-year option to purchase the mining lease covering the historical Horseshoe... 

Increased exploration spend boosts services demand

By: Donald Makhafola     10th August 2018 Mining activities and the number of exploration projects in Australia have been steadily increasing since 2017, and this has, subsequently, resulted in an increased demand for South African airborne geophysics technology provider Spectrem Air’s services, says Spectrem Air GM Louis Polomé.... 

Increased exploration spend boosts  services demand
INTERNATIONAL ATTENTION Spectrem Air is focused on international projects, especially in Australia, where exploration spend is steadily increasing

Vedanta's suspends operations at Zambian unit after worker killed in accident

By: Reuters     9th August 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine was stopped after one miner was killed in an underground accident to allow for investigations into the incident, the company said. In July production was halted at the same shaft, shaft 4, after a miner died in an... 

Sunstone to divest of Viscaria

By: Esmarie Swanepoel     9th August 2018 ASX-listed Sunstone Metals has signed a letter of intent (LoI) which could see the company divest of its Viscaria copper project, in Sweden, in exchange for a 30% shareholding in Swedish company Copperstone Resources AB. The proposed transaction will be completed in two stages, with the initial... 

Union at Caserones mine in Chile says no deal in labour talks, strike imminent

By: Reuters     9th August 2018 The main union at Chile's Caserones copper mine said on Wednesday that a last round of labor negotiations with mine operator Lumina Copper had broken down and that a strike was imminent. The 300-member worker's union said Lumina, which is controlled by a partnership of JX Holding and Mitsui... 

Aurubis Q2 profit falls more than expected

By: Reuters     9th August 2018 Aurubis AG, Europe's biggest copper smelter, on Thursday posted a fall in quarterly profit but confirmed its forecast of higher earnings in its current year. Aurubis said its operating earnings before taxes (EBT) fell 16% to 78-million euros in its fiscal third quarter to end-June, below... 

Teck gets approval to expand Quebrada Blanca mine in Chile

By: Reuters     9th August 2018 Teck Resources said on Wednesday it had received regulatory approval for its $4.8-billion Phase 2 project at its Quebrada Blanca copper mine in northern Chile, a sprawling expansion that will boost production from the deposit to 300 000 t/y of copper. The environmental approvals will allow the... 

Copperstone and Sunstone to team up on Scandinavia copper

By: Creamer Media Reporter      8th August 2018 Publically traded company Copperstone Resources on Wednesday announced that it had signed a nonbinding letter of intent to acquire the Viscaria copper project in Kiruna, northern Sweden, from ASX-listed Sunstone Metals. The transaction is proposed as a scrip and share deal and will make Sunstone... 

Katanga’s H1 copper, cobalt revenues rise

By: Anine Kilian     8th August 2018 TSX-listed Katanga Mining on Wednesday reported that its copper revenue for the first half of this year increased to $350.86-million, compared with $3 000 in the first half of 2017, while its cobalt revenue increased to $141.1-million, from zero revenue in the first half of the prior year. “The... 

Humiliated for years, women are fighting back in mines of Chile

By: Bloomberg     8th August 2018 he first time Karen Requena entered the cafeteria at BHP Billiton’s massive Escondida mining operation in northern Chile, she couldn’t help feeling countless eyes fixed on her body as she walked across the vast hall. “It can’t get worse than that,” she thought. Then as Requena looked for a place... 

Humiliated for years, women are fighting back in mines of Chile

CITIC Metal another step closer to acquiring a stake in Ivanhoe

By: Marleny Arnoldi     8th August 2018 China State-owned investment company CITIC's subsidiary CITIC Metal has completed its confirmatory due diligence and has received internal approvals necessary to complete the long-term, strategic cooperation and investment agreement with Canadian miner Ivanhoe Mines. This followed a high-level... 

Taseko posts Q2 net loss, but output rises

By: Nadine James     8th August 2018 TSX-listed Taseko Mines on Tuesday reported a net loss of C$4.67-million for the quarter ended June 30, compared with net income of C$5.25-million in the second quarter of 27. Adjusted net income of C$2.34-million was also lower than the net income of C$14.31-million reported for the prior... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Ink dries on Sandfire-Talisman deal

By: Esmarie Swanepoel     8th August 2018 Copper/gold miner Sandfire Resources has signed a binding conditional sale and purchase agreement with fellow-listed Talisman Mining to acquire its 30% interest in the Springfield exploration and mining joint venture (JV), in Western Australia, for A$72.3-million. The two companies in June this... 

Copper Mountain mine’s Q2 output jumps

By: Mariaan Webb     7th August 2018 Canadian miner Copper Mountain has reported higher production at its 75%-owned namesake mine, in British Columbia, with the operation producing 20-million pounds of copper, 6 500 oz of gold and 68 400 oz of silver in the second quarter of this year. The production compares with 17.2-million... 

BHP asks for government mediation in talks at Chile's Escondida

By: Reuters     7th August 2018 Miner BHP said on Monday that it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world's largest, prompting the union to postpone the start of a strike approved by workers. The two parties will meet, together with a government... 

Union at Chile's Escondida sets deadline for negotiations ahead of strike

By: Reuters     6th August 2018 The union at BHP 's Escondida mine in Chile, the world's biggest copper mine, has told the company it should prove its willingness to negotiate by Monday morning if seeks to strike a deal with workers ahead of a pending strike, according to an internal union communication obtained by Reuters.... 

Copper supply woes on show with No. 2 mine output to halve

By: Bloomberg     6th August 2018 A battle over the world’s second-largest copper mine has dogged Freeport-McMoRan shareholders for more than a year. Now it may be the turn of the copper market. Production at Grasberg in Indonesia will fall by more than half next year as its giant pits transition to underground operations,... 

Copper supply woes on show with No. 2 mine output to halve

Vedanta delivers strong Q1 Ebitda

By: Simone Liedtke     6th August 2018 Diversified miner Vedanta Resources on Monday announced that it had delivered strong earnings before interest, taxes, depreciation and amortisation (Ebitda) and drove steady margins in the first quarter of the 2019 financial year. The margins, the miner highlighted, were driven by record volumes... 

Vast expects subsidiary to be granted Baita Plai association licence soon

By: Simone Liedtke     6th August 2018 Aim-listed mining company Vast Resources, its 80%-subsidiary African Consolidated Resources (AFCR) and Romanian State-owned Baita, the holder of the Baita Plai licence, have submitted a joint formal application to Romania’s National Agency for Mineral Resources (ANRM) for the grant to AFCR of an... 

Updated study increases Frieda River mine life, production forecast

By: Esmarie Swanepoel     6th August 2018 The Frieda River copper/gold project, in Papua New Guinea, could produce more copper and gold over a longer period than previously thought, ASX-listed Highlands Pacific reported on Monday. Highlands, which owns a 20% interest in the joint venture (JV) project, told shareholders that partner... 

Brazil mining exports to rise 2.5% in 2018 – Ibram

By: Reuters     6th August 2018 Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday. By value, mineral exports are expected to increase to $30-billion from $28.37-billion last... 

Mount Polley workers accept new contract, strike ends

By: Creamer Media Reporter      3rd August 2018 Unionised workers at the Mount Polley mine, in British Columbia, have accepted a new three-year contract, ending a more than two-month strike at the copper/gold mine, near Williams Lake. Imperial Metals said on Thursday that the new contract is effective from January 1, 2018. 

Workers at Chile's Escondida give BHP deadline to avoid strike

By: Reuters     2nd August 2018 The union at BHP Billiton's Escondida mine in Chile, the world's biggest copper mine, told the company on Thursday that it should improve its contract offer by August 6 or it would begin preparations for a strike. Union workers announced earlier on Thursday that they had voted to reject the... 

Kaz Minerals expands into Russia with $900m copper deal

By: Reuters     2nd August 2018 Kaz Minerals, a low-cost copper producer until now focused on Kazakhstan, said it has agreed to buy the Baimskaya copper project in the Chukotka region of Russia for $900-million in cash and shares. The deal is comprised of an initial $675-million and a deferred payment of $225-million. 

Kaz Minerals expands into Russia with $900m copper deal

MOD eyes LSE listing after Metal Tiger deal

By: Esmarie Swanepoel     2nd August 2018 ASX-listed MOD Resources has announced plans to seek a dual listing on the London Stock Exchange, following its deal with joint venture partner Metal Tiger to consolidate ownership of the T3 project, in Botswana. MOD said on Thursday that the LSE listing will likely take place in the fourth... 

MOD eyes LSE listing after Metal Tiger deal

Chilean workers vote to strike at world's biggest copper mine

By: Reuters     2nd August 2018 Workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper mine, have voted to reject a company wage offer and go on strike, according to a communique sent to Reuters on Thursday. A total of 2 330 members voted on strike action, with 1 955 supporting it and 370 accepting the... 

ERG secures electricity supply for DRC copper/cobalt operations

By: Anine Kilian     1st August 2018 Metalkol, a cobalt and copper tailings reprocessing project and a low-cost hydrometallurgical facility owned by Eurasian Resources Group (ERG), has signed an agreement to secure electricity supply for its operations in the Democratic Republic of the Congo (DRC) for up to ten years.   

Centerra trims production expectations on Mt Milligan water risks

By: Mariaan Webb     1st August 2018 Continued water supply issues at the Mount Milligan mine, in British Columbia, have forced gold and copper producer Centerra Gold to trim its gold production guidance by 20 000 oz and its copper forecast by about five-million pounds. The Mount Milligan mine continues to suffer from limited water... 

Centerra trims production expectations on Mt Milligan water risks
The Mount Milligan mine in British Columbia.

Drilling progressing well at Arc’s Zamsort project

By: Anine Kilian     1st August 2018 An 11 000 m drilling programme currently under way at Aim-listed Arc Minerals’ Kalaba prospect, in Zambia, is progressing well. The prospect is owned by Zamsort, which is developing a copper/gold project. Arc has a 66% interest in Zamsort. 

Cradle Arc buys back convertible loan notes

By: Anine Kilian     1st August 2018 Aim-listed Cradle Arc plans to redeem all of its £1.28-million outstanding convertible loan notes for £1.59-million in cash, by way of staged and back-end weighted payments up to their scheduled maturity date of December 31.  Funding for such redemption, alongside additional working capital for... 

Hudbay ups Manitoba's operating cost guidance

By: Mariaan Webb     1st August 2018 Toronto-headquartered Hudbay Minerals on Tuesday confirmed that it would meet its production guidance for 2018, but flagged higher operating costs at its Manitoba unit, citing cold weather conditions, higher costs at the 777 mine and the impact of a fan outage at Lalor. The combined mine and... 

Rambler ups copper, gold production, recoveries during Q2

By: Marleny Arnoldi     31st July 2018 TSX- and Aim-listed copper and gold producer Rambler Metals and Mining’s copper feed grade during the half-year ended June 30 averaged 1.1% copper and 0.53 g/t gold. This compared with 1.28% copper feed grade and 0.5 g/t gold in the first half of 2017. 

Katanga on track to achieve full-year guidance

By: Simone Liedtke     31st July 2018 During the second quarter of this year, TSX-listed Katanga Mining made progress with the high-grade clarifier, receiving thickener and the post-leach clarifier that form part of the whole ore leach (WOL) project at subsidiary Kamoto Copper Company’s copper/cobalt mine, in the Democratic Republic... 

Brazil studying auction of rights to six unexplored mining areas in 2019

By: Reuters     31st July 2018 Brazil's geological service is studying auctioning off mining rights in 2019 to six previously unexplored areas that have significant potential output of copper, gold, phosphate and other minerals, the head of the organisation told Reuters on Monday. The geological service CPRM, which operates... 

First Quantum extends copper hedge programme

By: Mariaan Webb     31st July 2018 Canada-based First Quantum has announced an extension of its copper sales hedge programme to ensure a “certain level of cash flow” during the commissioning and ramp up of its large openpit copper mine development in Panama. This comes as concern about trade wars are hurting copper prices, which... 

First Quantum extends copper hedge programme
First Quantum CEO Philip Pascall

Glencore copper, zinc ramp-ups paying off in production numbers

By: Marleny Arnoldi     31st July 2018 The ramp up of diversified miner Glencore’s Katanga mine, in the Democratic Republic of Congo (DRC), has delivered increased copper and cobalt for the first half of this year, in line with full-year guidance, which is 1.4-million tonnes of copper and 39 000 t of cobalt. Financial services... 

Glencore copper, zinc ramp-ups paying off in production numbers
Glencore's Koniambo mine in New Caledonia

Investors cheer Ivanhoe’s resource update for Kipushi

By: Mariaan Webb     30th July 2018 Canadian major Ivanhoe Mines on Monday published a mineral resource estimate update for its Kipushi zinc/copper/silver/germanium project in the Democratic Republic of Congo (DRC), increasing the past-producing mine’s zinc-rich resources by 16% and copper-rich resources by 40%. The new estimate,... 

Investors cheer Ivanhoe’s resource update for Kipushi
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