R/€ = 14.86 Change: -0.14
R/$ = 12.04 Change: -0.06
Au 1317.13 $/oz Change: -0.84
Pt 953.00 $/oz Change: -3.60

Copper News

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Monty copper/gold development on time, below budget

By: Megan van Wyngaardt     12th January 2018 The Monty copper/gold deposit in Western Australia, which forms part of ASX-listed Talisman’s Springfield joint venture (JV) project with Sandfire Resources, has since the start of ground-breaking activities in July 2017, seen site activities having been ramped-up considerably; on time and under... 

World's top commodity engine roars to record with Xi at helm

By: Bloomberg     12th January 2018 China continues to gobble up the world’s commodities, setting new records for consumption of everything from crude oil to soybeans. In a year of flux marked by industrial capacity cuts, environmental curbs and financial deleveraging, demand for raw materials has continued to grow in the world’s... 

Indonesia lays groundwork for transfer of Grasberg mine to local control

By: Reuters     12th January 2018 Indonesian regional and central government officials on Friday signed an agreement with state holding company PT Inalum that lays the foundation for the transfer of Freeport-McMoRan's giant Grasberg copper mine to local control. Indonesia and Papua have long pushed for greater control over... 

Stavely signs earn-in, JV deal for copper tenement

By: Megan van Wyngaardt     12th January 2018 ASX-listed Stavely Minerals has agreed terms for an earn-in and joint venture (JV) agreement with Black Range Metals – a wholly-owned subsidiary of ASX-listed Navarre Minerals for Black Range’s exploration licence EL5425.  The licence is adjacent to Stavely’s Yarram Park project and surrounds the... 

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Nevsun trading lower as copper recoveries continue to lag plan

By: Henry Lazenby     12th January 2018 Canadian miner Nevsun Resources has reported strong zinc output at its flagship Bisha mine, in Eritrea, hitting the top end of its 2017 guidance. However, the news late on Wednesday was not enough to bolster investor sentiment on Thursday, as the company’s struggling copper output again... 

Zambia sees mining revenue rising on higher copper price

By: Reuters     11th January 2018 Zambia expects to collect more revenue from mining companies this year compared to 2017 after copper prices rose above $7 000/t, the revenue authority (ZRA) said on Wednesday. ZRA Commissioner-General Kingsley Chanda said at a media briefing the authority was targeting a revenue-to-GDP ratio of... 

Indonesia hopes to finalise Freeport contract talks by June

By: Reuters     11th January 2018 Indonesia hopes to finalise contract talks with Freeport McMoRan over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday. Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to... 

Bank of China sees commodities in full bloom amid 2018 rotation

By: Bloomberg     11th January 2018 The stage may be set for commodities to extend their stellar gains, according to Bank of China International analysts. By the fourth quarter copper will average $7 500/t and gold $1 400/oz, they wrote in a note this week, as financial drivers potentially outweigh fundamentals in 2018. In other... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

By: Megan van Wyngaardt     10th January 2018 ASX-listed Pegasus Metals on Wednesday announced that it would buy Scorpion Minerals, which holds the rights to acquire up to a 70% joint venture (JV) interest in the Dablo palladium/platinum/gold/nickel/copper exploration project, located in Burkina Faso for A$360 000. This will be paid through... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

Codelco to amend Andina mine plan to avoid glaciers

By: Henry Lazenby     10th January 2018 The world’s largest copper producer, Chile’s State-run Codelco, has submitted an environmental impact assessment (EIA) to local authorities proposing a $250-million buildout designed to reduce the impact of glaciers at the large openpit operation. Located about 80 km northeast of Santiago in... 

Codelco to amend Andina mine plan to avoid glaciers
Photo by Codelco
Codelco's Andina mine, Chile

Valor hikes mineral resource estimate for Berenguela project

By: Natasha Odendaal     9th January 2018 ASX-listed Valor Resources on Tuesday announced an 80% increase in its Joint Ore Reserve Committee-compliant mineral resource estimate, along with a maiden measured resource estimate, for the Berenguela copper/silver project, in southern Peru. The company’s 2017 drilling programme delivered a 37%... 

Nzuri receives second tranche of Huayou financing

By: Creamer Media Reporter      9th January 2018 ASX-listed Nzuri Copper has received the second and final tranche of funds from a $10-million strategic investment by major cobalt player Huayou Cobalt. The first tranche, comprising the issue of 26.47-million tranche 1 shares for about $6.64-million, was completed on December 19. 

Copper hits two-week low, zinc at highest in more than a decade

By: Reuters     9th January 2018 Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. The dollar rose against the euro, making dollar-priced metals costlier for... 

Nautilus secures bridge loans, inks new funding mandate

By: Henry Lazenby     9th January 2018 Marine mining hopeful Nautilus Minerals has arranged bridge financing of about $7-million from Deep Sea Mining Finance, to assist the company's immediate working capital requirements. The loans will also allow the Canadian company to make the payments required to continue with the development of... 

Miner Hudbay fortifies Constancia landholdings

By: Henry Lazenby     9th January 2018 Dual-listed base metals miner Hudbay Minerals has signed agreements to acquire a suite of mining properties located near its Constancia mine, in Peru. The TSX- and NYSE-listed company reported on Monday that its subsidiary HudBay Peru will acquire an option from a private Peruvian consortium to... 

Ivanhoe’s DRC copper mines connected to grid as hydropower plant is upgraded

By: Megan van Wyngaardt     8th January 2018 TSX-listed miner Ivanhoe Mines on Monday said its Kakula mine development site, 10 km south of Kamoa’s initial Kansoko mine site, in the Democratic Republic of Congo (DRC), started receiving power from the national grid in December. Kakula’s development is being fast-tracked, with a... 

DevEx seeks to raise project development funds

By: Megan van Wyngaardt     8th January 2018 Exploration firm DevEx Resources on Monday announced a one-for-two non-renounceable rights issue to raise up to $2.84-million for its lithium and copper/gold projects. The company said it planned to fast track drilling at its projects, including the recently identified lithium anomaly at the... 

KAZ Minerals to expand Aktogay

By: Creamer Media Reporter      8th January 2018 The Aktogay mine in the East Region of Kazakhstan is set for a $1.2-billion expansion to double sulphide ore processing capacity by 2021. The expansion project, approved by the board of KAZ Minerals in December, entails building a second sulphide concentrator at Aktogay, increasing processing... 

Coal dwarfs battery metals in mining deals despite war on pollution

By: Reuters     8th January 2018 Coal and iron-ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future. While the biggest deal was in Brazil, China was a top player despite planning to reduce domestic coal... 

Coal dwarfs battery metals in mining deals despite war on pollution

SSR Mining receives EIA approval for Chinchillas

By: Henry Lazenby     28th December 2017 Argentine regulatory authorities have approved the environmental impact assessment (EIA) for joint-venture (JV) subsidiary Puna Operations’s Chinchillas precious metals project. Owned 75% and operated by SSR Mining, Puna Operations was formed earlier this year as a JV vehicle with gold junior... 

Osisko Metals adds to Bathurst Mining Camp asset holdings

By: Henry Lazenby     28th December 2017 Base metals focused project developer Osisko Metals has signed an agreement to buy the Key Anacon claims and surrounding area, in the Bathurst Mining Camp (BMC) of New Brunswick, from Hunter Brook Holdings. Based in Montreal, Quebec, Osisko has in recent quarters been actively consolidating base... 

Water shortfall shutters Centerra’s Mount Milligan mill

By: Henry Lazenby     27th December 2017 Drier-than-normal spring and summer weather conditions, combined with unexpectedly frigid temperatures during the current quarter, have contributed to a water shortage at Centerra Gold’s Mount Milligan mill, in British Columbia, forcing the company to temporarily shutter the plant. The... 

Water shortfall shutters Centerra’s Mount Milligan mill
Photo by Centerra Gold
Mount Milligan, BC

Even with Trump minerals order, US miners seen trailing China

By: Henry Lazenby     23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... 

Even with Trump minerals order, US miners seen trailing China

Money hungry Nautilus weighs funding options as project challenges mount

By: Henry Lazenby     22nd December 2017 Marine mining pioneer Nautilus Minerals is in active discussions with a range of potential financiers and shareholders to secure the funding required to start mining the Solwara 1 project, offshore Papua New Guinea (PNG), the company said on Thursday. The company has thus far been unsuccessful to... 

Money hungry Nautilus weighs funding options as project challenges mount

Rambler hits record throughput as Phase 2 ramp up nears completion

By: Henry Lazenby     22nd December 2017 During the month of November, copper and gold producer Rambler Metals and Mining has processed 33 870 t of ore through the Nugget Pond mill, at the Ming mine, in Newfoundland and Labrador. The throughput averaged 1 221 t/d during operational hours – a new record, the Aim- and TSX-listed company... 

Northern Dynasty ready to file application for Pebble’s US CWA 404 permit

By: Henry Lazenby     21st December 2017 Canadian project promoter Northern Dynasty Minerals announced on Thursday that its US-based subsidiary Pebble Limited Partnership (PLP) is ready to file an application for a US Clean Water Act (CWA) 404 permit with the US Army Corps of Engineers on Friday. “At the outset of 2017, we established... 

Northern Dynasty ready to file application for Pebble’s US CWA 404 permit

Global copper deficit grows to 181 000 t during first three quarters of 2017

By: Henry Lazenby     21st December 2017 The global copper supply deficit has grown to 181 000 t during the first three quarters of 2017. According to the latest assessment conducted by the Lisbon, Portugal-based International Copper Study Group (ICSG), stagnant refined copper supplies, in combination with strong Chinese apparent usage... 

Global copper deficit grows to 181 000 t during first three quarters of 2017

SP Angel outlines key 2018 trends as battery raw materials heat up

By: Creamer Media Reporter      21st December 2017 London-based brokerage SP Angel has outlined the key trends that characterised the basket of energy metals during 2017 and the the outlook for 2018 in its new ‘Battery Raw Material Review, Outlook – SP Angel Commodity Research Book’ published on Wednesday. The report pointed out that the... 

SP Angel outlines key 2018 trends as battery raw materials heat up

Rio recalibrating understanding of Africa, working on Africa strategy 

By: Martin Creamer     19th December 2017 Diversified mining company Rio Tinto is recalibrating its understanding of Africa and working on an Africa strategy that is scheduled to be presented to the company’s executive committee next year. The company, which has the Rössing Uranium Mine in Namibia, Richards Bay Minerals (RBM) in South... 

Rio recalibrating understanding of Africa, working on Africa strategy
Rio Tinto VP Corporate Relations Africa Lawrence Dechambenoit talks to Mining Weekly Online’s Martin Creamer on Rio Tinto’s activities in South Africa and Africa. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel de Silva

First Quantum breathes new life into Northern Dynasty’s Pebble project

By: Henry Lazenby     18th December 2017 Base metals miner First Quantum Minerals has signed a framework agreement with Northern Dynasty Minerals to work on formalising an option on the controversial Pebble copper/gold project, in south-east Alaska. The announcement on Monday breathes new life into the project billed as the largest... 

First Quantum breathes new life into Northern Dynasty’s Pebble project

Strategic Minerals to purchase Australian copper mine outright

By: Mariaan Webb     15th December 2017 Aim-listed Strategic Minerals has renegotiated the terms of its acquisition of the Leigh Creek copper mine, in South Australia, and has decided to purchase the mine for A$3-million through an equal mixture of cash and equity. When Strategic Minerals announced the planned acquisition in October,... 

Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

By: Reuters     15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

BC govt refuses KGHM’s Ajax environmental permit

By: Henry Lazenby     15th December 2017 The British Columbia provincial government on Thursday refused to issue Polish base metals miner KGHM Polska Miedź’s Ajax copper/gold mine a provincial environmental certificate, saying the adverse effects of the project outweigh the potential benefits. The news is a blow to the nearby City of... 

BC govt refuses KGHM’s Ajax environmental permit

Fast-paced developments at Prieska benefit all stakeholders

By: Robyn Wilkinson     15th December 2017 Australian minerals explorer Orion Minerals’ activity at the Prieska zinc/copper mine present an “unparalleled” value creation opportunity for investors and shareholders while promoting and supporting critical socioeconomic development in the Northern Cape, says Orion Minerals MD Errol Smart.  

Fast-paced developments at Prieska benefit all stakeholders
PROJECT ADVANCES Sixteen drill rigs are operating on site in a dual-focused drill programme that aims to confirm the extensive historical drilling database on the remaining mineralisation at Prieska

Zambia sees 2017 copper output rising up to 850 000 t

By: Reuters     14th December 2017 Zambia's 2017 copper output is expected to increase to between 800 000 t and 850 000 t from 774 290 t in last year, Mines Minister Christopher Yaluma on Thursday. Zambia's copper production is next year likely to increase further to reach 1-million tonnes, Yaluma said, citing improved power... 

Orion identifies exploration targets through survey

By: Megan van Wyngaardt     14th December 2017 A 962 km2 high-power SkyTEM airborne electromagnetic (EM) survey that dual-listed Orion Minerals started at the Areachap Belt, in the Northern Cape, in late November, has identified four primary and 11 secondary priority targets for exploration. The company now intends to expand its activities to... 

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