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Copper News

Former South African President Kgalema Motlanthe joins Ivanhoe board

By: Henry Lazenby     10th April 2018 Former South African President Kgalema Motlanthe has joined the board of project developer Ivanhoe Mines with immediate effect, the company announced on Tuesday. In his new nonexecutive capacity, Motlanthe is expected to bring a “new dimension” to the company’s strategic evaluations, consensus... 

Vision 2030 mining growth strategy under development ­– ­DMR

By: Martin Creamer     10th April 2018 A Vision 2030 for the mining industry, and a strategy for growth and competitiveness of the sector, are topics under development, the Department of Mineral Resources (DMR) said on Tuesday, when efforts to finalise and gazette the Mining Charter also intensified. In announcing that Mineral... 

Vedanta's application to renew copper smelter operations in India rejected

By: Reuters     10th April 2018 Vedanta Resources said on Tuesday its application to renew operations at a copper smelting plant in the South Indian town of Thootukudi was rejected. The rejection comes amid almost daily protests by the people of Thootukudi against Vedanta's plans to increase the capacity of the smelter, one of... 

Highlands loses first round in Frieda River arbitration

By: Esmarie Swanepoel     10th April 2018 ASX-listed Highlands Pacific is facing a $12.4-million bill relating to the Frieda River copper/gold project, in Papua New Guinea, after the first stage of arbitration found in favour of project partner PanAust. Highlands, which has a 20% interest in the Frieda River joint venture (JV), has been... 

Centrogold proves positive for Avanco

By: Esmarie Swanepoel     10th April 2018 A scoping study into the Centrogold project, in Brazil, has indicated a strong potential for a high-grade, low capital mining operation, ASX-listed Avanco Copper said. The scoping study estimated an initial mine life of 11 years, with the project producing an average of 129 900 oz/y from a... 

Orion applies for Prieska mining right, lifts project’s mineral resource

By: Anine Kilian     9th April 2018 ASX- and JSE- listed Orion Minerals has applied for a mining right for its Prieska base metals project, in South Africa’s Northern Cape, and has also established a maiden resource of 5.2-million tons for the Vardocube area within the Prieska project area. The resource, which is in the southern... 

Fluor tenders work to Grana y Montero for Quellaveco Peru mine

By: Reuters     9th April 2018 US-based construction firm Fluor Corp subcontracted earth moving work on the Quellaveco copper mine, in Peru, to local company Grana y Montero, in a sign the stalled $5-billion project could be reactivated. Grana said in a statement late on Friday it had won a tender from Fluor for $53.9-million... 

Miners insist on rewrite of Congo mining code to protect exemptions

By: Reuters     6th April 2018 International mining companies have insisted that Democratic Republic of Congo amend portions of a new mining code to respect exemptions they were granted by its predecessor. The companies announced last week that they had submitted a formal proposal to the government but the document itself,... 

Horomela expedites exploration programme, expects resource estimate

By: Nadine James     6th April 2018 Aspiring base metals exploration and mining junior Horomela Mining Investment & Resources has started its exploration programmes on various licences, including its Steinkopf 22, Naroep and Aggeneys zinc licences, all in the Northern Cape. The company expects to produce an exploration results... 

Weatherly CEO resigns

By: Anine Kilian     5th April 2018 Craig Thomas has resigned as CEO of Aim-listed Weatherly International. He will, however, continue as CEO in the interim, to allow the group's operations to continue without interruption, while Weatherly reviews the most appropriate management structure going forward. 

Mackenzie Valley review board OKs Tlicho all-season road; a boon for Fortune

By: Henry Lazenby     5th April 2018 The Mackenzie Valley Environmental Impact Review Board has completed an environmental assessment of the Tlicho all-season road project, proposed by the Northwest Territories government, subject to 23 measures to reduce its environmental, social and cultural impacts. The conditional approval was... 

Teck lifts Quebrada Blanca Phase 2 ownership to 90%

By: Henry Lazenby     5th April 2018 Canadian diversified miner Teck Resources has bought out a further 13.5% minority stake in the Quebrada Blanca Phase 2 (QB2) project, in Chile, for $52.5-million in cash by acquiring private Chilean company Inversiones Mineras (IMSA), the company said on Wednesday. The transaction lifts Teck’s... 

Orion granted two new prospecting rights at Prieska

By: Natasha Odendaal     4th April 2018 ASX- and JSE-listed Orion Minerals has been granted two prospecting rights over strike extensions across important contiguous areas around the Prieska zinc/copper deposit, in the Northern Cape. The new rights, granted by the Department of Mineral Resources to Orion subsidiaries Vardocube and... 

Altona deal approved; shares to stop trading

By: Esmarie Swanepoel     4th April 2018 The Australian Federal Court has approved the merger between ASX-listed Altona Mining and TSX-listed Copper Mountain Mining Corporation. The A$93-million deal, which was launched by Copper Mountain in November, has already been approved by both sets of shareholders. 

Nautilus receives further bridge loans as SPV launches in China

By: Henry Lazenby     4th April 2018 Seafloor mining pioneer Nautilus Minerals continues to secure bridge financing from Deep Sea Mining Finance, with the latest advance of $3-million bringing the loans to date to $9.65-million, the company said on Tuesday. The bridge loans are expected to form part of a larger secured structured... 

Caserones copper mine in Chile says to close copper concentrator

By: Reuters     4th April 2018 Caserones copper mine, in Chile, said on Tuesday that it would temporarily shut down its copper concentrator in order to replace a leaking pipe. The Environmental Tribunal of Antofagasta, a province of Chile's northern mining region, asked Lumina Copper, which owns the mine, to shut down the... 

High-grade, low-cost silver options set Americas Silver up for growth

By: Henry Lazenby     4th April 2018 Diversified miner Americas Silver is being cautious not to add too much silver to its zinc and lead production profile at a time when prices for the precious metal languish between the $16/oz to $20/oz level. “We are being very disciplined to not add too much new silver production to our... 

High-grade, low-cost silver options set Americas Silver up for growth
Photo by Americas Silver
Americas Silver's new San Rafael mine, in Mexico

Weatherly reschedules repayment due to Orion Mine Finance

By: Simone Liedtke     3rd April 2018 Copper miner Weatherly International has entered into a further amendment and restatement agreement in relation to its existing facility with finance solution provider Orion Mine Finance. The first repayment of Facility B, previously due on March 31, is now due on June 30, and payable quarterly... 

Cradle Arc secures $10m to support Mowana accelerated development plan

By: Simone Liedtke     3rd April 2018 Africa-focused base and precious metals exploration and production company Cradle Arc has secured $10-million of debt funding to support an accelerated development plan for its Mowana openpit mine, in Botswana, and to refinance part of the group’s existing indebtedness. The Aim-listed company on... 

Botswana approves drilling at Metal Tiger, MOD’s T3 Dome

By: Marleny Arnoldi     3rd April 2018 Botswana’s Department of Environmental Affairs has approved the environmental management plan (EMP) for a drilling campaign to test numerous high-priority targets along the T3 project’s 50-km-long T3 Dome.  

Carrapateena gets govt approvals

By: Esmarie Swanepoel     3rd April 2018 The A$916-million Carrapateena copper-gold project, in South Australia, has cleared its last approvals hurdle, with the South Australian and Commonwealth governments both granting approvals. ASX-listed Oz Minerals on Tuesday reported that mining lease has been granted by the South Australian... 

Nevsun's Timok UZ PFS elevates deposit among best anywhere

By: Henry Lazenby     3rd April 2018 A new prefeasibility study (PFS) on Canadian base metals producer Nevsun Resources’ Timok Upper Zone (UZ) copper/gold project, in Serbia, has confirmed the project as one of the best development-stage copper assets in the world, the company reports. Vancouver-headquartered Nevsun reported last... 

Hudbay outlines new mine plan for Constancia; global resources dip on depletion

By: Henry Lazenby     3rd April 2018 Canadian base metals producer Hudbay Minerals has released a new technical report on its flagship Constancia mine, in Peru, which lifted the operation’s value, while also extending the mine life. Toronto-headquartered Hudbay said a twin-hole drill programme during the fourth quarter of 2017 had... 

Japan's Mitsubishi Materials sees H1 copper output up 7% y/y

By: Reuters     2nd April 2018 Mitsubishi Materials, Japan's third-biggest copper smelter, said on Monday it plans to produce 187 374 t of refined copper during April-September, up 7% from the same period last year. The company expects output at its Naoshima smelter and refinery in western Japan to rise 11%, while production... 

Japan's Mitsubishi Materials sees H1 copper output up 7% y/y

Chilean miner Codelco says copper output, profit jumped in 2017

By: Reuters     30th March 2018 Chile's state copper company Codelco said on Thursday it produced 1.73-million tonnes of copper in 2017, its second highest output ever, despite persistently low ore grades at its aging mines. The world's top copper miner posted a 2017 pre-tax profit of $2.88-billion, a six-fold increase over... 

Workers at Codelco's Radomiro Tomic mine reject contract offer

By: Reuters     30th March 2018 A union representing the majority of workers at Codelco's Radomiro Tomic mine, in Chile, has rejected a final offer for a new labor contract, forcing a period of government-facilitated mediation, the company said on Thursday. The union, part of state miner Codelco's Northern Division, has 744... 

Hydrocyclone improves recovery, optimises processing

By: Nadine James     30th March 2018 Depleting ore grades and rising energy costs are creating new challenges for minerals processing, in response, Metso introduced MHC Series Hydrocyclone. The solution, although officially launched in 2016, is currently being trialled at a copper porphyry mine in the US. Metso Africa and Middle... 

Mining industry submits mining code proposal to DRC govt

By: Marleny Arnoldi     29th March 2018 Mining industry representatives on Thursday submitted a formal proposal to the Democratic Republic of Congo (DRC) Ministry of Mines, aimed at addressing concerns about the country’s recently revised mining code and government’s revenue needs.  

Mining industry submits mining code proposal to DRC govt

Private capital carves out mining niche with specialist focus

By: Henry Lazenby     28th March 2018 Generalist investment funds are having a hard time keeping up with the success private capital lenders have enjoyed in the mining space in recent quarters, with private equity firms carving out their niche by being specialists at their game. The generalist funds are underwriting real estate and... 

Private capital carves out mining niche with specialist focus

Profit at China's Jinchuan International surges on higher cobalt, copper prices

By: Reuters     28th March 2018 Chinese miner and metals trader Jinchuan Group International Resources said on Tuesday its 2017 net profit was almost five times bigger than a year earlier due to higher cobalt and copper prices. Jinchuan, which operates the Ruashi copper and cobalt mine, in the Democratic Republic of Congo, and... 

North American Palladium makes PGM discovery at Sunday Lake

By: Henry Lazenby     27th March 2018 Winter exploration results from the Sunday Lake platinum-group metals (PGM) deposit, 25 km northeast of Thunder Bay, Ontario, has led to the discovery of new PGM mineralisation in the central part of the property, with extensions to the east, that open up a much larger area for exploration, North... 

Vedanta to shut copper smelter in India for about 15 days

By: Reuters     27th March 2018 Vedanta Resources said on Tuesday its India unit Vedanta's copper smelting operations at Thootukudi, in the southern state of Tamil Nadu, will be closed for about 15 days as part of a maintenance shutdown. The news of the maintenance activity, which Vedanta said was earlier scheduled for April,... 

Atalaya improves financial performance on production and price gains

By: Mariaan Webb     27th March 2018 Dual-listed copper miner Atalaya Mining has posted a 60% jump in net income to €18.2-million in 2017, thanks to strong revenue growth on the back of higher production from Proyetco Riotinto, in Spain, and increasing copper prices. Revenue for the 12-month period amounted to €160.5-million,... 

Atalaya improves financial performance on production and price gains
Proyecto Riotinto

Trump's trade war is derailing copper rally that he kickstarted

By: Bloomberg     27th March 2018 President Donald Trump’s pro-business agenda helped start the copper rally, and now he is upending it with protectionist trade policies that threaten to derail a boom in the world’s economies. Copper prices are poised for their first quarterly drop since before Trump’s shock election victory... 

Trump's trade war is derailing copper rally that he kickstarted

Oz Minerals makes A$418m bid for Brazil-focused Avanco

By: Esmarie Swanepoel     27th March 2018 The directors of ASX-listed copper junior Avanco have urged shareholders to accept a A$418-million cash and scrip offer from copper/gold miner Oz Minerals. Oz Minerals on Tuesday launched its takeover offer of 8.5c in cash and 0.009 shares for every Avanco share held. The offer price valued... 

Oz Minerals makes A$418m bid for Brazil-focused Avanco

Shareholders approve Altona/Copper Mountain deal

By: Esmarie Swanepoel     27th March 2018 The shareholders of ASX-listed Altona Mining and TSX-listed Copper Mountain Mining Corporation have approved a merger between the two companies. Copper Mountain in November of last year made a A$93-million play for Altona, with the combination of the two companies resulting in a mid-sized... 

Workers at Chile's Los Pelambres mine reach deal on labour agreement – union

By: Reuters     27th March 2018 Workers at Antofagasta's Los Pelambres copper mine, in Chile, reached agreement on a new labour contract, defusing the risk of a strike, the union said on Monday. Workers in the mine's largest union had last week rejected an offer for a new labor contract, triggering a period of government... 

Congo's 2017 mining revenue up 36% while oil revenue doubles

By: Reuters     26th March 2018 Democratic Republic of Congo's 2017 mining sector revenue rose 35.6% to $822.2-million while revenue from the oil and gas sector jumped by 103% to $203.9-million, finance ministry data showed. Mining revenue in the fourth quarter more than doubled helped by higher prices for key exports such as... 

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