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Copper News

DRC curbs expectations of miners about concessions on code

By: Bloomberg     19th March 2018 Mining companies in the Democratic Republic of Congo (DRC) won’t secure substantial concessions in talks with the state about changes to the industry code, a senior mining official said. The operators, including Glencore Plc and Randgold Resources, are pressing the government to row back on some... 

Avanco reports maiden resource at Pantera

By: Esmarie Swanepoel     19th March 2018 ASX-listed Avanco Copper has reported a maiden mineral resource of 20.8-million tonnes, grading 1.7% copper and 0.2 g/t gold at its recently acquired Pantera copper project, in Brazil. The project is estimated to host some 350 000 t of copper and a further 140 000 oz of gold, and has pushed... 

Wheaton Precious Metals portfolio biased to gold as organic growth pipeline lags

By: Henry Lazenby     19th March 2018 Canadian streaming firm Wheaton Precious Metals (WPM) has seen the proportion of precious metals in its production profile shift, with about two-thirds weighted to gold, as several of its silver-focused organic growth projects languish behind plan. The Vancouver-based company expects to have... 

Wheaton Precious Metals portfolio biased to gold as organic growth pipeline lags
Photo by Bloomberg
Wheaton Precious Metals CEO Randy Smallwood smiles during an interview at the Prospectors & Developers Association of Canada Convention, in Toronto

Poland's KGHM targets rise in Chilean copper ore output

By: Reuters     16th March 2018 Polish copper producer KGHM said it expects daily copper ore output at its Chilean mine Sierra Gorda to increase by 18% next year from current levels. State-run KGHM acquired Chilean and Canadian copper deposits in 2011 when it bought Canada's Quadra FNX for $2-billion, the largest ever foreign... 

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

ARM's Motsepe predicts successful charter, land outcomes
African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

US legislation bodes well for Thor Mining's Nevada tungsten project

By: Simone Liedtke     16th March 2018 The US House of Representative's Natural Resources Committee has passed the National Strategic and Critical Minerals Production Act, which Aim- and ASX-listed Thor Mining said would benefit its Pilot Mountain tungsten project in Nevada. While further steps are required in the legislative process,... 

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

New platform to help resolve cross border mining services constraints 

By: Tracy Hancock     16th March 2018 There are two major challenges facing the supply of cross-border mining services in Africa – a lack of resources, such as skills and investment, and poor or nonexistent infrastructure – hindering the enormous growth in mining activity across Africa, says Cross-Border Mining Services Indaba... 

New platform to help resolve cross border mining services constraints
Cross-Border Mining Services Indaba conference manager Ros Hinchcliffe discusses the value of the inaugural event. Camerawork and Editing: Nicholas Boyd.

Rare earths company acquires critical metals portfolio in Namibia

16th March 2018 Heavy rare earth elements project developer Namibia Rare Earths (NRE) has completed the acquisition of a portfolio of critical metal properties from private firm Gecko Namibia, which will see NRE obtain a controlling interest in a portfolio of seven metals properties, thereby expanding its focus... 

Rare earths company  acquires critical metals portfolio in Namibia
RARE MINERALS Namibia Rare Earths has started exploring several mineral deposits across the country

Angolan railway and port restarts exporting minerals after 30 years of disruption

By: Rebecca Campbell     16th March 2018 The export of minerals from the interior of south central Africa through the port of Lobito in Angola, by means of the Benguela Railway (Caminho de Ferro de Benguela – CFB) restarted during the first week of this month. This marked the resumption of a service that was disrupted more than 30 years... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Georgian agrees terms for Kvemo Bolnisi development

By: Creamer Media Reporter      15th March 2018 London-listed Georgian Mining and its joint venture (JV) partner Caucasian Mining have agreed on terms for the development of the Kvemo Bolnisi (KB) copper/gold project, in the Tehtyan Belt in Georgia. The parties have settled on funding the JV company, Georgian Copper and Gold (GCG), on a 50:50... 

Chile's Escondida invites union to early labor talks

By: Reuters     15th March 2018 BHP's Escondida copper mine in Chile, the world's largest, said on Wednesday that it has invited its powerful workers' union to start early talks on a new collective labor contract. Last year, a more than month-long strike at Escondida ended with workers opting to extend their previous contract... 

Polish copper miner KGHM misses forecasts with Q4 net loss

By: Reuters     15th March 2018 Poland's KGHM, one of the world's biggest copper producers, reported a fourth-quarter consolidated net loss of 87-million zlotys on Wednesday compared to an almost five-billion zlotys impairment-driven loss a year ago. The loss came despite a rise in copper prices and contrasted with an average... 

Paradigm shift required to position mining industry for long-term success

By: Henry Lazenby     15th March 2018 The long-term mindset of the mining industry will have to change to position itself for long-term success, set against an ever-changing landscape, says BHP Billiton's head for Minerals America, Daniel Malchuck. He told an audience during the keynote session of the recent Prospectors and... 

Paradigm shift required to position mining industry for long-term success
Photo by BHP Billiton
Escondida, Chile

China's enviro policies, EV growth two megatrends to boost most commodities

By: Henry Lazenby     13th March 2018 Chinese actions in recent years to embrace temporary production cuts and enforce stricter environmental regulations are probably here to stay for the long term and have already disrupted a range of commodities, including coal, aluminium, lithium and cobalt production chains. Commodity research... 

China's enviro policies, EV growth two megatrends to boost most commodities
Photo by Bloomberg
Cobalt metal nuggets

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

As copper booms, miners take hunt to Mongolian dunes
Photo by Rio Tinto
Ancient petroglyphs from Javkhlant rock, near the Oyu Tolgoi project area in Mongolia.

China's Zijin Mining interested in Serbian copper mine RTB, Belgrade says

By: Reuters     12th March 2018 China's Zijin Mining Group has expressed interest in buying loss-making Serbian copper miner and smelter RTB Bor, which the Balkan state has been trying to sell for the past decade. President Aleksandar Vucic on Monday met representatives of the Chinese firm, who expressed an intention to invest... 

Congo's Kabila signs into law new mining code

By: Reuters     12th March 2018 Democratic Republic of Congo President Joseph Kabila signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement. International mining companies that operate in Congo, Africa's top copper producer, have vigorously opposed the new... 

Creditors approve Banro's recapitalisation plan

By: Creamer Media Reporter      11th March 2018 Affected creditors have approved Banro Corporation's proposed recapitalisation plan. Banro, which operates the Twangiza and Namoya mines, in the Democratic Republic of Congo (DRC), on Friday said the creditors' approval was a key step towards its implementation and the emergence of the company... 

Chile's Codelco inks deal on Ecuador copper project

By: Reuters     11th March 2018 Chile's State-run mining company Codelco, the world's largest copper miner, signed a deal with Ecuador on Saturday for joint development of the Llurimagua copper project near Quito. The project could become the first mine Codelco operates abroad following years of efforts to expand... 

New power line to keep OZ Minerals connected

By: Megan van Wyngaardt     9th March 2018 Copper/gold miner OZ Minerals on Friday unveiled its power strategy, which includes a new high voltage power transmission line to secure electricity for the Prominent Hill and Carrapateena mines, as well as any future developments in South Australia. “Infrastructure in the region does not support... 

New power line to keep OZ Minerals connected

Thor zones in on three projects

By: Megan van Wyngaardt     9th March 2018 Dual-listed Thor Mining on Friday said it would intensify its focus on its Pilot Mountain tungsten/silver/copper project, in the US; as well as the Kapunda copper project and the Molyhill tungsten project, in Australia. “Our main business investment decisions will be strictly focused on [these]... 

Mauritania encourages new gold prospects

By: Tasneem Bulbulia     9th March 2018 Mauritania-based mining and exploration company Suricate Minerals is capitalising on the unexplored territories and the investor-friendly climate of the country to pioneer the development of gold deposits in north Mauritania, Suricate Minerals executive director Ahmed Hertani tells Mining Weekly.... 

Mauritania encourages new gold prospects
GOLDEN PROSPECTS Suricate Minerals has permits for prospecting in north Mauritania in the Archaean Reguibat shield, recognised by geologists as highly prospective for gold and base metals exploration

Study elevates importance of Orion’s Jacomynspan deposit

By: Megan van Wyngaardt     8th March 2018 A geological reevaluation of the ultramafic intrusive hosted Jacomynspan nickel/copper/cobalt deposit, undertaken on behalf of dual-listed Orion Minerals, has highlighted important findings that elevate the importance of this district as a compelling target for exploration. Orion MD and CEO Errol... 

Apollo will now hold 100% in Couflens project

By: Megan van Wyngaardt     8th March 2018 ASX-listed Apollo Minerals has entered into an agreement to acquire the remaining 20% interest in the Couflens tungsten/copper/gold project in the Pyrenees region of southern France from ASX-listed Variscan Mines. Apollo would then own 100% of the Couflens project, which covers a 42 km2 licence... 

Congo's Kabila to sign new mining code soon after meeting with miners

By: Reuters     8th March 2018 Democratic Republic of Congo President Joseph Kabila will soon sign into law a new mining code, the government and the country's mining companies said on Wednesday. The code has been vigorously opposed by the miners. The announcement followed a nearly six-hour meeting between Kabila and mining... 

Congo's Kabila to sign new mining code soon after meeting with miners
Photo by Reuters
DRC President Joseph Kabila

A$150m raised to accelerate New South Wales cobalt/nickel project

By: Mariaan Webb     8th March 2018 ASX-listed Clean TeQ has raised A$150-million in an underwritten institutional placement at A$1.15 a share to fund early works and long-lead items for the Sunrise nikel/cobalt/scandium project, in New South Wales. The company is pursuing an expedited development timetable to take advantage of... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

By: Henry Lazenby     7th March 2018 The Prospectors & Developers Association of Canada's (PDAC's) 2018 convention, in Toronto, drew an international crowd of 25 606 people, in what is widely considered as a clear sign that optimism is returning to the mineral exploration and mining industry following several years of turmoil.... 

World's biggest mining show draws huge crowd, signalling mining investment optimism

Kazakh miner ERG revives sale of Congo copper mine – sources

By: Reuters     7th March 2018 Debt-laden Kazakh miner Eurasian Resources Group (ERG) has revived efforts to sell its Frontier copper mine in Democratic Republic of Congo (DRC) despite a drop in valuation to about $400-million, two banking sources said. The company, which is working with VTB Capital and Rothschild to spin off... 

UBS warns of 'deep trade war' as commodity giant sees no winners

By: Bloomberg     7th March 2018 Raw materials are at great risk as Donald Trump’s White House prepares to pull the trigger on tariffs. UBS Group warned metals to energy will be hurt should US levies spark a global trade war, while commodity powerhouse Australia forecast only a damaging race to the bottom. “Obviously, going... 

UBS warns of 'deep trade war' as commodity giant sees no winners

Nexa a pioneer of the new future of mining – Tito Martins

By: Henry Lazenby     6th March 2018 Recently rebranded Brazilian miner Nexa Resources is at the forefront of innovating in the mining industry with progressive policies and innovative technologies, an audience attending the keynote session during the Prospectors and Developers Association of Canada's 2018 convention has heard.... 

Nexa a pioneer of the new future of mining – Tito Martins
Photo by Henry Lazenby
Nexa Resources president and CEO Tito Martins addresses the audience during the PDAC 2018 keynote session, in Toronto

Auroch acquires South Australia zinc projects

By: Schalk Burger     6th March 2018 JOHANNESBURG (miningweekly.com) – ASX-listed Auroch Minerals on Tuesday announced that it had acquired 90% of the Arden and 100% of the Bonaventura zinc projects, in South Australia. “The Arden project and Bonaventura project comprise a substantial zinc, lead and copper play supported by... 

Kabila meeting with mining companies postponed until Wed

By: Reuters     6th March 2018 Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday was postponed by a day, a government minister said. No reason was given for the decision to delay the meeting. 

Mining-specific staff recruitment, management app developed 

By: Mia Breytenbach     6th March 2018 To refine and improve the execution of recruitment within the mining industry, mining and engineering professionals recruiter TrueVine Consulting has developed a new, innovative online recruitment platform, called Digger. “Digger is a digital recruitment, talent management and staff retention... 

Mining-specific staff recruitment,  management app developed
Innovative mining-specific staff recruitment, management app developed. Editing: Darlene Creamer and Christo Greyling.

Nornickel profit falls 16%, palladium now largest revenue contributor

By: Mariaan Webb     6th March 2018 Nickel and palladium producer Norilsk Nickel (Nornickel) has posted a 16% drop in full-year net profit, as the miner realised a smaller foreign exchange gain. Nornickel's net profit declined to $2.12-billion in the year ended December 2017, from $2.53-billion in 2016, the company reported on... 

Nornickel profit falls 16%, palladium now largest revenue contributor
Nornickel Vladimir Potanin

MOD raises funds to ‘turbo charge’ Kalahari copper belt growth

By: Creamer Media Reporter      6th March 2018 Australia-listed MOD Resources has raised $18-million to “turbo charge” its growth plans in the Kalahari copper belt of Botswana, where a drilling programme is set to be expanded. The exploration company on Tuesday announced that it had raised $12-million in an oversubscribed share placement by... 

Building trust between miners, host governments a prerequisite to foster economic prosperity

By: Henry Lazenby     6th March 2018 Endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union's African Mining Vision, an audience attending the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference heard on... 

Building trust between miners, host governments a prerequisite to foster economic prosperity
Photo by Henry Lazenby
MineAfrica 8th Panel Discussion on African Mining in 2018-Politics, Policies and Opportunities
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