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Copper News

Congo Mines Minister insists no compromise on new mining code

By: Reuters     12th September 2018 Democratic Republic of Congo's mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question. Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry... 

Record production boosts Atalaya’s H1 Ebitda

By: Marleny Arnoldi     12th September 2018 Aim- and TSX-listed copper miner Atalaya Mining delivered earnings before interest, taxes, depreciation and amortisation (Ebitda) of €34.4-million for the six months ended June 30, compared with €24.5-million in the first half of 2017, on the back of record production at the company’s Proyecto... 

European miners enter bear market with more pain seen for sector

By: Bloomberg     12th September 2018 A sixth consecutive day of declines took European miners to a bear market, and analysts predict more tough times for the sector that has lost more than 20 percent since June. “We have the beginning of a bearish trend,” Valerie Gastaldy, technical strategist at Day By Day, wrote in a note. “The... 

European miners enter bear market with more pain seen for sector

Nevada Copper takes fresh look at Pumpkin Hollow openpit

By: Mariaan Webb     11th September 2018 TSX-listed Nevada Copper, which last month moved into full-scale construction mode at its first underground mine, has delivered a study to show the potential for a standalone openpit mine at Pumpkin Hill, in the US. An existing technical report for Pumpkin Hollow contemplates two potential... 

Nevada Copper takes fresh look at Pumpkin Hollow openpit
The Pumpkin Hollow site in Nevada.

Congo mining revenues triple in H1; oil revenues fall by a third

By: Reuters     10th September 2018 Democratic Republic of Congo's revenues from its mining sector nearly tripled in the first half of 2018 over the same period last year to $864.61-million, the finance ministry said. Revenues from the hydrocarbons sector, however, declined by a third to $67.75-million, the ministry said in a... 

Eureka gold mine to restart production in H1 2019

By: Simone Liedtke     7th September 2018 Aim-listed Vast Resources hopes to restart production at the Zimbabwe-based Eureka gold mine, in which the company’s 25%-owned Dallaglio Investments holds a 95% interest, in the first half of 2019. Multiple work programmes are currently being undertaken at Eureka to restore the mine to... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe

By: Martin Creamer     7th September 2018 Diversified mining company African Rainbow Minerals (ARM) is right now looking at some very exciting growth opportunities, its executive chairperson Patrice Motsepe said on Friday. After announcing the delivery of 51% higher headline earnings of R4 814-million in the 12 months to June 30... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe
Photo by Creamer Media Chief Photographer Dylan Slater
African Rainbow Minerals executive chairperson Patrice Motsepe (right) with Mining Weekly Online's Martin Creamer at Friday's presentation of results

Rio Tinto exec joins Turquoise Hill board

By: Creamer Media Reporter      7th September 2018 NYSE- and TSX-listed Turquoise Hill has appointed Rio Tinto VP for copper and diamond sales and marketing, Alan Chirgwin, to its board of directors. Chirgwin has extensive commercial background and a proven track record in the resources industry, specifically in the Asia Pacific region,... 

Kavango receives permit for Botswana electromagnetic survey

By: Tasneem Bulbulia     7th September 2018 Exploration group Kavango Resources has received a permit for the airborne electromagnetic geophysical survey of its KSZ project in south-west Botswana. The permit for the flying of the electromagnetic survey (VTEM) to be carried out over the licences in the Kalahari Suture Zone area was granted... 

Lundin has no plan to amend Nevsun offer

By: Tasneem Bulbulia     7th September 2018 Canadian firm Lundin Mining has announced that it would not amend its bid for all of the issued and outstanding shares of fellow Canadian miner Nevsun Resources. This comes after Nevsun earlier this week agreed to a friendly C$1.86-billion takeover by Zijin Mining, trumping Lundin's hostile... 

Northam says growth strategy remains on track

By: Simone Liedtke     7th September 2018 Platinum producer Northam Platinum’s growth, diversification and optimisation strategy is on track, with progress being made in the development of the Booysendal South and Zondereinde mines, in Limpopo. Zondereinde has enjoyed relatively stable labour relations over the past few years, which has... 

Northam says growth strategy remains on track
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Services group gains agencies, boosts offering

By: Halima Frost     7th September 2018 Vereeniging-based furnace and industrial services provider Dickinson Group of Companies has been appointed as an agent for Danish chemical industry company Haldor Topsoe in Namibia, Zambia and the Democratic Republic of Congo (DRC). Dickinson Group will promote, sell and strategically warehouse... 

Services group gains agencies, boosts offering
HANDLING THE LOAD Dickinson Group's state-of-the-art heavy duty vacuum truck is used for catalyst handling

ENRC wins UK appeal in attorney-client privilege case

By: Bloomberg     6th September 2018 A UK appeals court on Wednesday overturned a decision forcing a Kazakh mining company to hand over documents to prosecutors who are investigating the firm for corruption, marking a decisive victory for law firms helping firms manage fraud and bribery cases. The ruling means that Eurasian Natural... 

Zambia seen considering higher mine taxes to trim Budget gap

By: Bloomberg     6th September 2018 Zambia plans to trim its fiscal deficit next year even as Africa’s second-biggest copper producer boosts spending. It may be considering raising mine taxes to achieve that, according to analysts. The Finance Ministry is targeting a budget shortfall of 6.5% of gross domestic product next year,... 

 Zambia seen considering higher mine taxes to trim Budget gap

Copper deal day hits with a flurry of M&A for the hottest metal

By: Bloomberg     5th September 2018 "Everyone loves copper and everyone wants to buy it” has been this year’s mining mantra. Today the ball started rolling. China’s Zijin Mining Group swooped on a huge undeveloped copper mine in Serbia, acting as a white knight to beat out an earlier hostile bid from a Canadian rival. At the same... 

Zijin trumps Lundin with C$1.86bn bid for Nevsun

By: Mariaan Webb     5th September 2018 Canadian miner Nevsun Resources on Wednesday announced that it had agreed to a C$1.86-billion friendly takeover by China’s Zijin Mining, as it seeks to fend off a hostile takeover by Lundin Mining. Zijin will shareholders C$6 a share in cash, representing a 57% premium over the company’s closing... 

Zijin trumps Lundin with C$1.86bn bid for Nevsun
Timok , in Serbia, is a sought-after copper development project.

BHP buys into Ecuador copper project with SolGold stake

By: Esmarie Iannucci     5th September 2018 Diversified miner BHP has struck a deal with TSX-listed Guyana Goldfields (GGI) to acquire its 6.1% interest in SolGold, which is the majority owner and operator of the Cascabel porphyry copper/gold project, in Ecuador. Under the terms of the agreement, BHP will acquire GGI's entire stake of... 

BHP buys into Ecuador copper project with SolGold stake
SolGold's Cascabel project, in Ecuador.

Master Drilling acquires Atlantis

By: Martin Creamer     5th September 2018 The strengthening of diversified geographic footprint of mining technology company Master Drilling is continuing with the announcement on Wednesday that the Johannesburg Stock Exchange company had entered into agreements to acquire the businesses of the Atlantis Group, a South African... 

Master Drilling acquires Atlantis
Photo by Creamer Media Chief Photographer Dylan Slater
Master Drilling CEO Danie Pretorius

Construction starts at biggest undeveloped copper deposit in Russia

By: Reuters     4th September 2018 A company owned by Russian billionaire Alisher Usmanov's holding company said on Tuesday it had started construction of a massive mining and metallurgical plant at the Udokan copper deposit in a remote region in eastern Siberia. With total reserves of around 26.7-million tonnes of copper,... 

Chilean copper miner Codelco halts Ventanas furnaces over gas levels

By: Reuters     4th September 2018 Chilean State miner Codelco halted the operations of three out of four furnaces at its Ventanas copper foundry on Monday morning after high levels of sulphur dioxide were detected, it said in a statement. Codelco said levels of the gas went 20% over the accepted limit for five minutes, prompting... 

Codelco produced 875 000 t copper in H1

By: Reuters     3rd September 2018 Copper production at Codelco, Chile's State-owned copper mining company, rose 2% in the first half of 2018 to 813 000 t, CEO Nelson Pizarro said on Friday. The world´s top copper miner benefited from rising prices, posting a pretax profit of $1.235-billion in the same period, up 25%... 

Grupo Mexico could reopen San Martin mine after 11 years

By: Reuters     3rd September 2018 Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview. The company began to refurbish the San Martin mine, which has copper, silver,... 

Grupo Mexico could reopen San Martin mine after 11 years

Zijin Mining to take stake in Serbian copper complex

By: Reuters     31st August 2018 China's Zijin Mining has won the tender to become a strategic partner in Serbia's sole copper complex RTB Bor, pledging to invest $1.26-billion in return for 63% stake, Energy Minister Aleksandar Antic said on Friday. The company also pledged a further $200-million to settle RTB Bor's debt, the... 

Congo's H1 copper production rises 8%; cobalt output up 38%

By: Reuters     31st August 2018 Copper output in Democratic Republic of Congo rose 7.9% year-on-year in the first half of 2018 to 597 249 tonnes and cobalt production jumped 37.6% to 52 491 tonnes, the central bank said on Thursday. Congo is Africa's top copper producer and the world's leading miner of cobalt, which is a key... 

CuDeco pauses Rocklands production

By: Esmarie Iannucci     31st August 2018 ASX-listed copper producer CuDeco has temporarily suspended mining and processing operations at its Rocklands project, in Queensland, to allow for critical maintenance work. The miner on Friday said that operations would likely be suspended until September 10. 

Red Rock interest in JVCo increases to 50.1%

By: Simone Liedtke     30th August 2018 Natural resource development company Red Rock Resources will increase its interest in a joint venture company (JVCo), which will be formed for the exploitation of copper and cobalt tailings and dumps near Kolwezi, in the Democratic Republic of Congo (DRC), to 50.1%. Pursuant to the agreement, Red... 

Constantine assembles team for Alaska project PEA

By: Creamer Media Reporter      30th August 2018 TSX-V-listed Constantine Metal Resources has selected engineering, project and construction management firm JDS Energy and Mining to prepare a preliminary economic assessment (PEA) of the potential viability of the mineral resources at the Palmer copper/zinc/gold/silver project, in south-east... 

Sandfire delivers record profits

By: Esmarie Iannucci     30th August 2018 Copper/gold miner Sandfire Resources has delivered a record net profit in the 12 months ending June, on the back of record sales revenues. Net profit after tax for the full year ended June reached A$123-million, compared with the A$77.5-million reported in the previous financial year, while... 

Striking workers at Chile's Andina copper mine reject new offer

By: Reuters     30th August 2018 Striking workers at state-owned Codelco's Andina copper mine have rejected their employers' latest contract offer, the company and union said on Wednesday. The 83 workers of the Plantas de Andina union began a strike on August 20 after contract negotiations over salaries and bonuses failed. 

Phoenix Global Mining seeks New York funds after London disappoints

By: Reuters     29th August 2018 Phoenix Global Mining, which is reopening a US copper mine abandoned during World War II when its workforce left to fight, plans to list in New York in September after a disappointing launch on London's AIM market. The London market is dominated by institutional investors and junior miners... 

Cradle Arc cuts 2018 guidance, appoints senior industry execs to board

By: Mariaan Webb     29th August 2018 Aim-listed Cradle Arc’s share price tumbled 28% on Wednesday after the company lowered its 2018 production guidance and detailed the operational difficulties that it faced at its 60%-owned Mowana copper mine, in Botswana. The mine’s revised guidance for 2018 is to produce 4 000 t of copper in... 

US–China trade tensions to shackle copper prices

By: Reuters     29th August 2018 Copper prices have recovered from a recent rout, but the possibility of the trade dispute between the Washington and Beijing escalating and its potential to crimp demand in China, the world's top consumer, is expected to cap gains. Benchmark copper on the London Metal Exchange at $6 100 has... 

US–China trade tensions to shackle copper prices

Nevada Copper board gives go-ahead for Pumpkin Hollow construction

By: Mariaan Webb     29th August 2018 The Pumpkin Hollow project will move into full-scale construction mode, after the Nevada Copper board on Tuesday announced a construction decision for the $197-million underground copper project, near Yerington, in the US. The transition from preconstruction works to full-scale activities will... 

Prieska mine reopening targeted for 2020

By: Marleny Arnoldi     29th August 2018 ASX- and JSE-listed Orion Minerals aims to reopen the Prieska zinc/copper project, in South Africa’s Northern Cape, in 2020. Orion MD Errol Smart told delegates attending the Africa Downunder conference being held in Perth, this week, that the 12-month bankable feasibility study (BFS) for the... 

Prieska mine reopening targeted for 2020
Orion Minerals MD Errol Smart

New Prosperity ruling important for future BC resource projects – Taseko CEO

By: Mariaan Webb     29th August 2018 Last week’s Supreme Court of British Columbia ruling denying a First Nation’s legal challenge seeking to overturn an exploration permit for the New Prosperity project is seen as important for future resource projects in the province, base metals miner Taseko Mines president and CEO Russell... 

New Prosperity ruling important for future BC resource projects – Taseko CEO

MOD to make T3 decision by March

By: Esmarie Iannucci     29th August 2018 ASX-listed MOD Resources is expected make a decision to mine its T3 copper project, in Botswana, in by the end of March next year, with first production targeted for late 2020. MOD MD Julian Hanna told delegates at the Africa Downunder conference, in Perth, that an updated feasibility study for... 

Teck to begin Quebrada Blanca mine upgrade in November

By: Reuters     29th August 2018 Canadian miner Teck Resources Ltd will begin work in November on a $4.8-billion phase 2 project at its Quebrada Blanca copper mine in northern Chile, Chile's Mines Minister said on Tuesday. The company received environmental approval for the plan earlier this month, which aims to extend the life... 

Chinese, Russian-owned companies place binding bids for Serbian copper mine

By: Reuters     28th August 2018 China's Zijin Mining and Russian-owned U Gold have sent valid bids for a strategic partnership in RTB Bor, Serbia's only copper mine and smelter, Mining and Energy Minister Aleksandar Antic said on Tuesday. In July, Belgrade invited bids for a partner to invest at least $350-million in... 

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