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Copper News

Euro Sun amends Nevsun proposal to include cash and shares

By: Simone Liedtke     5th June 2018 TSX-listed Euro Sun Mining (ESM) has amended its portion of the joint proposal with multinational minerals company Lundin Mining to acquire midtier base metals company Nevsun Resources for C$1.5-billion. ESM is now offering C$150-million in cash and C$150-million in ESM stock, compared with the... 

Cruz to acquire base metals projects in Norway

By: Creamer Media Reporter      4th June 2018 TSX-V-listed Cruz Cobalt has signed a letter of intent with EMX Royalty and Fennoscandian Investment Group to acquire two cobalt/nickel/copper projects in Norway. “We are pleased to have the opportunity to acquire these projects. The properties are 

BMR enters into agreements with Blue Square, Jubilee

By: Simone Liedtke     4th June 2018 Minerals processing company BMR Group has entered into an agreement with Blue Square, under which it will pay Blue Square a performance fee of $500 000 relating to work performed, to date, at its Kabwe project, in Zambia.   

Chinalco starts $1.3bn expansion of Peru copper mine

By: Reuters     4th June 2018 Aluminum Corp of China, known as Chinalco, at the weekend said it had started work on a $1.3-billion expansion of its Toromocho copper mine in central Peru. The investment will increase the mine's copper output by 45% by 2020, with the value of production exceeding $2-billion annually, Chinalco... 

Altus Strategies lists on TSX-V, retains Aim-listing

By: Simone Liedtke     4th June 2018 Exploration project generator Altus Strategies is now dually listed on the London Stock Exchange’s Aim and the TSX-Venture Exchange, with ordinary shares expected to start trading on TSX-V on June 6. As at the listing date, the company had just over 176-million shares in issue and had granted... 

Havilah sells Portia and Portia North

By: Mariaan Webb     4th June 2018 South Australian copper junior Havilah Resources on Monday announced that it would sell its Portia and Portia North projects to Broken Hill-based Consolidated Mining and Civil (CMC), freeing up the company’s time and financial resources to focus on its core projects. Havilah CEO Walter Richards... 

BHP Escondida mine workers in Chile start new wage talks

By: Reuters     2nd June 2018 The union of workers at BHP's Escondida copper mine in Chile said on Friday it had kicked off the latest round of labor negotiations with a contract proposal that includes a bonus of about $34,000 per worker at the world's largest copper mine. The closely-watched talks come little more than one... 

Southern has copper giants in the crosshairs with Peru expansion

By: Bloomberg     1st June 2018 Southern Copper is preparing to scale the ranking of global producers by spending more than $10-billion in Peru and Mexico, taking advantage of rising prices underpinned by years of industry belt-tightening. The fifth-largest copper producer hopes to start work on its Tia Maria project in Peru... 

Great Panther to decide on Coricancha restart in early 2019

By: Simone Liedtke     1st June 2018 Vancouver-based Great Panther expects to be able to make a decision in early 2019 about restarting the past-producing Coricancha precious and base metals mine that it bought in June last year. The gold/silver/zinc/copper underground mine and mill complex, east of Lima, in Peru, has a 600 t/d... 

Great Panther to decide on Coricancha restart in early 2019

Congo Supreme Court rejects Glencore bid to move dissolution case

By: Reuters     1st June 2018 Congo's Supreme Court has rejected claims by a Glencore unit that a commercial court is not competent to hear a petition to dissolve it brought by State miner Gecamines, a Gecamines lawyer said on Friday. Gecamines is seeking to dissolve Kamoto Copper Company (KCC), blaming majority-owner... 

Antofagasta reports its tax and fees payments to Chile and the US

By: Rebecca Campbell     1st June 2018 UK-domiciled, London Stock Exchange- (LSE-) listed mining group Antofagasta plc last year paid $316 833 000.00 to Chilean, and $206 000.00 to US, Government authorities in taxes and fees. The company released this information on Friday in its “2017 Report on Payments to Governments”. The release... 

Orion receives extended bridge loan term to progress Northern Cape projects

By: Marleny Arnoldi     1st June 2018 ASX- and JSE-listed exploration and development company Orion Minerals has received an extension on its $6-million bridge loan term from mining-focused private equity group Tembo Capital, from May 31 to September 30.  

Weatherly shares suspended as water ingress at Tschudi creates uncertainty

By: Anine Kilian     1st June 2018 Aim-listed Weatherly International has requested a suspension in the trading of its shares, effective Friday, owing to the uncertain position of its Namibia-based Tschudi mine, as a result of significant water ingress.  The Tschudi openpit mine had recently experienced a rapid increase in... 

Peru cenbank urges government to help revive mining projects

By: Reuters     1st June 2018 The manager of Peru's central bank urged the government of President Martin Vizcarra on Thursday to do more to revive mining projects that have been derailed by protests. Renzo Rossini, of the central bank, said three suspended mining projects – Southern Copper Corp's Tia Maria, Newmont Mining... 

Sumatra halts operations at Tembang

By: Esmarie Swanepoel     1st June 2018 Metals miner Sumatra Copper & Gold has temporarily suspended openpit mining activities at its Tembang gold/silver project, in Indonesia. The company said on Friday that with the Berenai openpit mine scheduled to be completed during June, the majority of the remaining openpit reserves were... 

Codelco retains CEO Nelson Pizarro at helm of world's top copper producer

By: Reuters     1st June 2018 Chile's Codelco, the world's top copper producer, said on Thursday its board of directors asked CEO Nelson Pizarro to stay at the helm and move forward with an ambitious, ten-year overhaul of its sprawling but aging mines. The board made the decision to retain Pizarro in its first meeting since... 

Solution enhances use rates for mine fleet

1st June 2018 A total fuel-filtration solution from power and engine multinational Cummins’ Fleetguard has ensured that a haul-truck fleet at a large copper mine in Zambia has achieved use rates of between 85% and 90%, after previously experiencing operational difficulties relating to substandard fuel... 

Solution enhances use rates for mine fleet
TOTAL SOLUTION Fleetguard provides a comprehensive filtration solution

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

Bezant raises £800 000 for Philippines and Argentina projects

By: Creamer Media Reporter      31st May 2018 Copper/gold exploration and development company Bezant on Thursday announced that it had raised £800 000 before expenses through a subscription and placing of shares at 0.36p each. The price represented a discount of about 17.2% to the closing mid-market price of 0.43p a share on Wednesday. 

Congo copper production in Q1 rises 8%; cobalt output up 34%

By: Reuters     31st May 2018 Democratic Republic of Congo produced 296 717 t of copper in the first quarter of 2018, up 8.2% over the same period last year, the central bank said in a report on Thursday. Cobalt production in the first quarter of 2018 rose 34.4% to 23 921 t, the bank said. 

Peru's Buenaventura seeks deal with Southern on copper project

By: Reuters     31st May 2018 Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2-billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary... 

Peru's Minsur lines up financing to start work on Mina Justa this year

By: Reuters     30th May 2018 Peruvian miner Minsur expects to secure $800-million to $900-million in financing from a group of banks in August that will put it on track to start building its $1.6-billion Mina Justa copper project toward the end of the year, the company said on Wednesday. The banks - from Germany, Canada,... 

Miners warn Congo it faces $3bn revenue loss over law

By: Bloomberg     30th May 2018 Mining companies in the Democratic Republic of Congo told the government it will lose more than $3-billion over a decade and face legal action if plans to implement a new industry code proceed. Miners including Glencore and Randgold Resources are demanding the government abandon aspects of the... 

Waterberg DFS progresses, updated resource model expected in Q3

By: Marleny Arnoldi     30th May 2018 The definitive feasibility study (DFS) for TSX-listed Platinum Group Metals’ (PTM’s) joint venture Waterberg Project, in the Bushveld Complex, is progressing well and remains on track for completion at the end of the first quarter of 2019.  

White Cliffs hikes Aucu resource

By: Esmarie Swanepoel     30th May 2018 Junior White Cliff Minerals has reported a 60% increase in the resource at its Aucu copper/gold project, in the Kyrgyz Republic. The Aucu deposit is now estimated to host some 2.95-million tonnes of ore, grading 5.1 g/t gold for 484 000 o z of gold, which was a 60% increase in ounces of... 

Exploration under way at Orion Minerals’ Northern Cape prospecting licences

By: Marleny Arnoldi     29th May 2018 Exploration and development company Orion Minerals has started fieldwork in the Areachap Belt, in the Northern Cape.  

Altus granted new zinc, copper licences in Morocco

By: Simone Liedtke     29th May 2018 Aim-listed Altus Strategies’ wholly-owned subsidiary Aterian Resource has been granted new exploration licences that target zinc and copper, in Morocco. The Ammas, Takzim Est and Arfa licences cover 87.55 km2. 

Copper supply shock hits India as top plant ordered to close

By: Bloomberg     29th May 2018 India faces a copper supply shock after a state government ordered billionaire Anil Agarwal’s Vedanta to shut down a plant permanently following deadly protests in a move that will slash nationwide output and stoke demand for imports. The company’s shares fell. The Tamil Nadu government directed... 

Phoenix raises funds for Idaho copper mine BFS

By: Creamer Media Reporter      29th May 2018 Aim-quoted, North American-focused Phoenix Global Mining on Tuesday announced that it would raise £3-million to further advance the historically producing Empire mine in Idaho, in the US. Phoenix would deploy the proceeds of the raising to build on the April 2018 preliminary economic assessment... 

Avanco cuts Antas production

By: Esmarie Swanepoel     29th May 2018 Plant operations and most mining activities have been suspended at the Antas openpit mine, in Brazil, as a strike by truck drivers drags on. ASX-listed Avanco Resources has previously warned that operations at Antas would be affected by the strike, as fuel and consumables failed to be delivered... 

Copper king pushes gender diversity – with an all-male board

By: Bloomberg     28th May 2018 As it battles to remain the world’s biggest copper producer, Codelco just achieved a new, less enviable mantle – the only major mining company with an all-male board and senior management team. On Friday, Chilean President Sebastian Pinera tapped executive Juan Benavides to be chairman of the... 

Billionaire's battered miner may face investor, political unrest

By: Bloomberg     28th May 2018 A troubled 2018 so far for billionaire Anil Agarwal’s Vedanta may get worse amid concern that its key copper smelter in southern India could remain shut until 2019, further pressuring a stock that’s down 25% since the start of the year. Deadly protests last week over alleged pollution from the... 

Chile's Pinera taps businessman Benavides as Codelco chair

By: Reuters     25th May 2018 Chilean President Sebastian Pinera named Juan Benavides, a former CEO of Chile retail leader Falabella, as chairperson of the board of directors at Codelco, the world's top copper producer, the government said on Friday. Benavides was currently serving as chairman at Chilean private pension fund... 

McEwen Mining PEA outlines new lease on life for El Gallo Complex

By: Henry Lazenby     25th May 2018 Dual-listed precious metals producer McEwen Mining has published a preliminary economic assessment (PEA) on its El Gallo Complex, in Sinaloa state, Mexico, outlining a redevelopment plan called Project Fenix that could add between 10 and 12 additional years to the operation. Based on an updated... 

McEwen Mining PEA outlines new lease on life for El Gallo Complex
Photo by Bloomberg
McEwen Mining chief owner Robert McEwen

Northern Dynasty tumbles on First Quantum’s Pebble pull-out

By: Henry Lazenby     25th May 2018 The TSX-traded stocks of base metals producer First Quantum Minerals and Northern Dynasty Minerals tumbled on Friday following an overnight joint announcement that the companies have terminated a 2017 framework accord that envisioned the partners closing an option and partnership transaction to... 

Northern Dynasty tumbles on First Quantum’s Pebble pull-out

Chile's Codelco posts first quarter pre-tax profit of $537m

By: Reuters     25th May 2018 Chilean state copper company Codelco reported on Friday first quarter pre-tax profits of $537-million, a slight increase over the previous year, even as ore grades continued to decline at the miner's aging deposits. The world´s top copper miner produced 446 300 t of copper in the first quarter,... 

Vedanta to stick to ops in Indian city despite deadly protests – co executive

By: Reuters     25th May 2018 London-listed Vedanta Resources plans to stick to operations in a southern Indian city despite protests demanding the closure of its copper smelter that killed 13 people this week, a company executive told Reuters on Friday. The company's position comes a day after the state of Tamil Nadu, where... 

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