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Aquila Resources to enter proposed ‘transformational’ financing with Orion Mine Finance

By: Henry Lazenby Project developer Aquila Resources has entered into an exclusivity agreement with Orion Mine Finance on a multilevel financing transaction that includes a private placement and a silver stream in exchange for funding $20.75-million. TSX- and Frankfurt-listed Aquila said on Tuesday that it would... 

On back of strong 2014, First Quantum disappoints with 2015 outlook

By: Henry Lazenby Base metals miner First Quantum Minerals late on Monday reported record copper output during 2014, noting that the current year would see its Zambia operations benefit from increased synergies as its new smelter was being commissioned and its new Sentinel mine started first production during the... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

In light of these developments, Creamer Media’s Base Metals 2014 Report examines the global base metals market, with a particular focus on supply and demand, and on the production of copper, zinc, nickel and lead, as well as selected base metals operations and projects in Africa. 

Creamer Media publishes Base Metals 2014: A review of Africa's base metal's sector research report

Goldman Sachs slashes base metal price forecasts, ups gold

By: Reuters Goldman Sachs Group on Friday slashed its 2015 price forecasts for several base metals including copper and aluminium while raising its estimate for gold by $62/oz. "The primary reason for the changes to our forecasts is cost deflation - driven by a combination of actual and anticipated US... 

Goldman Sachs slashes base metal price forecasts, ups gold

Global base metals outlook turns negative – Moody’s

By: Henry Lazenby Global credit ratings advisory firm Moody’s Investors Service has changed its outlook on the global base metals industry to negative, citing weakening macroeconomic growth indicators and investor sentiment. In its report ‘Global Base Metals Industry: Economic Weakness and Copper Price Plunge Turn... 

Global base metals outlook turns negative – Moody’s

Lundin Mining expects 2015 to be another ‘strong execution’ year

By: Tracy Hancock Diversified base metals mining company Lundin Mining expects another year of strong execution in 2015, following favourable 2014 production results, as the company focuses on cash generation and profit optimisation at each of its operations. President and CEO Paul Conibear said the company was... 

Lundin Mining expects 2015 to be another ‘strong execution’ year

Trevali’s Santander mine exceeds 2014 production guidance

By: Creamer Media Reporter In its first year of commercial production, Trevali Mining’s Santander mine, in Peru, delivered 50.4-million pounds of zinc, 23.3-million pounds of lead and 914 600 oz of silver, exceeding expected output. Production for the fourth quarter, ended December 31, was 11.2-million pounds of zinc,... 

Back to basics key message in Deloitte trend forecast

By: Megan van Wyngaardt While the outlook of the global mining sector for the year ahead looks bleak, with mining companies having to contend with price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of access to financing, advisory firm Deloitte believes all is not lost. In its... 

Back to basics key message in Deloitte trend forecast

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

HudBay expects to more that triple copper output as new mines come on line

By: Henry Lazenby Base metals miner HudBay Minerals reported initial production from the completed Constancia copper porphyry project, in southern Peru, started during the quarter ended December and it expected to declare commercial production in the second quarter. The TSX- and NYSE-listed miner on Thursday said... 

Goldspike expands zinc/lead discovery in Nevada

By: Henry Lazenby Nevada-focused explorer Goldspike has expanded the mineralised footprint of its zinc/lead discovery at the Lone Mountain property, in Eureka County, showing that the mineralisation extended along strike to the southeast. The Toronto-based explorer on Thursday reported that the latest highlight... 

Tulsequah Chief mine determined ‘substantially started’ – BC Ministry of Environment

By: Henry Lazenby The British Columbia Environment Minister Mary Polak has determined that Chieftain Metals Corp’s Tulsequah Chief polymetallic project was 'substantially started', ending a First Nation challenge to the validity of the original ministerial determination in 2012. The Ministry of Environment stated... 

Tulsequah Chief mine determined ‘substantially started’ – BC Ministry of Environment
Photo by Chieftain Metals Corp
Tulsequah Chief, British Columbia

Trevali on schedule for H1 Caribou start up

By: Henry Lazenby Zinc-focused, base metals mining company Trevali Mining on Thursday reported that its Caribou mine and mill complex project remained on track and within budget, with commissioning still expected to start in the first half of next year. The Caribou zinc/lead/silver mine and mill complex, located... 

Teck Resources makes first shipment from restarted Pend Oreille ops

By: Henry Lazenby Diversified Canadian miner Teck Resources on Wednesday reported that it had made the first shipment of zinc and lead ore in concentrate from its restarted Pend Oreille operations, in north-eastern Washington State, across the border to its nearby Trail operations, in British Columbia, for... 

Samco Gold to acquire Peruvian base metals project

By: Henry Lazenby Argentina-focused Samco Gold on Friday announced that it had signed an agreement to buy two Peruvian subsidiaries of Mantaro Resources for about $3.4-million in cash and scrip, which would give it control over exploration and mining concessions over the Dino polymetallic property. Samco would... 

Goldspike’s high-grade zinc discovery could fill looming market void

By: Henry Lazenby Goldspike Exploration, focused on the Lone Mountain zinc/lead deposit in Eureka County, Nevada, this week reported that assay results from its Phase 1 drilling campaign had confirmed a significant new discovery of high-grade zinc mineralisation. The TSX-V-listed explorer, with a track record of... 

Goldspike’s high-grade zinc discovery could fill looming market void
Photo by Goldspike Exploration
Lone Mountain project, Nevada

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector 

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Tightening nickel affords opportunity for Asian Mineral Resources

By: Simon Rees Of the few base metals piquing analyst interest for 2015, zinc and nickel stand out. For nickel, supply was expected to tighten across next year, which should act as a price support. Indonesia’s ban on the export of nickel ore has been a central catalyst for this, while the Philippines Congress... 

Capital misallocation lowering commodity prices – Glencore

By: Martin Creamer Capital misallocation, not a lack of demand, remained the key factor in the current low level of several commodity prices, Glencore CEO Ivan Glasenberg said on Wednesday. Highlighting the need to differentiate by commodity in allocating capital, Glasenberg said at the company’s investor day in... 

Capital misallocation lowering commodity prices – Glencore
Photo by Duane Daws
Ivan Glasenberg

KBL produces first zinc

By: Esmarie Swanepoel ASX-listed KBL Mining on Thursday announced the production of saleable lead and zinc concentrate from its Mineral Hill mine, in New South Wales. The miner told shareholders that the ability to process polymetallic ore from the recently exposed A lode was a major milestone for the operation,... 

Former Anglo employee Deshnee Naidoo appointed Gamsberg-Skorpion CEO

By: Chantelle Kotze Vedanta Resources’ Zinc International announced the appointment of former Anglo American Thermal Coal CFO Deshnee Naidoo as CEO designate at its Gamsberg–Skorpion integrated project stakeholder briefing, held in Aggeneys, in the Northern Cape, last week. 

Former Anglo employee Deshnee Naidoo  appointed Gamsberg-Skorpion CEO
Photo by Duane Daws
DESHNEE NAIDOO Naidoo will fulfil the role of CEO designate for Vedanta Resources’ Zinc International as well as Vedanta group company Sesa Sterlite’s Copper Mines of Tasmania subsidiary

Vedanta approves R8.7bn Gamsberg-Skorpion integrated zinc project

By: Chantelle Kotze LSE-listed diversified miner Vedanta Resources, which announced the approval of the three-year R8.7-billion Gamsberg–Skorpion integrated zinc project development last week, aims to make the Southern African region one of the most important suppliers of refined zinc globally. 

Vedanta approves R8.7bn Gamsberg-Skorpion integrated zinc project
Photo by Duane Daws
ON THE MAP The three-year R8.7-billion Gamsberg–Skorpion integrated zinc project is set to put South Africa’s Northern Cape on the map as one of the most important suppliers of refined zinc globally

Namib DFS shows low risk and robust economics

By: Leandi Kolver The definitive feasibility study (DFS) for Aim-listed North River Resources’ Namib lead/zinc/silver mine, in Namibia, has confirmed that the project is technically low risk and economically robust, the company said on Wednesday. It added that a strong after-tax internal rate of return of more... 

Nevsun denies Bisha human rights allegations in lawsuit

By: Creamer Media Reporter A lawsuit has been filed against Vancouver-based mining company Nevsun Resources in the British Columbia Supreme Court by three individuals who claim to have once worked with a local subcontractor at the Bisha mine, in Eritrea, on the Horn of Africa. The TSX-listed company said on Friday that the... 

Nevsun denies Bisha human rights allegations in lawsuit

Callinex to target high-grade copper- and zinc-rich VMS deposits in Manitoba

By: Creamer Media Reporter TSX-listed Callinex Mines has adopted an aggressive new strategy to discover and develop high-grade copper- and zinc-rich volcanogenic massive sulphide (VMS) deposits. The company has identified its Flin Flon and Pine Bay projects as the focus of future exploration based on potential to host the... 

Vedanta’s Zinc International appoints CEO designate

By: Chantelle Kotze Vedanta Resources’ Zinc International subsidiary has appointed former Anglo American Thermal Coal CFO Deshnee Naidoo as CEO designate. 

Vedanta’s Zinc International appoints CEO designate
Photo by Duane Daws
Vedanta Resources’ Zinc International subsidiary CEO designate Deshnee Naidoo

Vedanta sees Southern Africa as key global zinc supplier

By: Chantelle Kotze LSE-listed diversified miner Vedanta Resources, which last week announced the approval of the three-year R8.7-billion Gamsberg–Skorpion integrated project development, aims to make the Southern African region one of the most important suppliers of refined zinc globally. This was highlighted by... 

Vedanta sees Southern Africa as key global zinc supplier
Photo by Duane Daws
Vedanta Zinc International CEO Kishor Kumar

Vedanta approves $782m Gamsberg–Skorpion zinc project development

By: Creamer Media Reporter Diversified miner Vedanta Resources has approved the investment of $782-million over three years on the development of the Gamsberg–Skorpion integrated zinc project. About $630-million would be spent on developing a 250 000 t/y openpit zinc mine, concentrator plant and associated infrastructure... 

Vedanta approves $782m Gamsberg–Skorpion zinc project development
Photo by Duane Daws
Vedanta Resources CEO Tom Albanese

Samco Gold confident in setting itself apart from peers in next 12 months

By: Henry Lazenby With prospective projects located on the Deseado Massif of Santa Cruz, Argentina, a potential joint-venture (JV) partner with which to move forward on its flagship asset, and with an innovative financing agreement in place, Canadian project developer Samco Gold is on the cusp of differentiating... 

Sunridge Gold reports Eritrea fieldwork proceeding apace

By: Henry Lazenby Canadian project developer Sunridge Gold, which is developing the Asmara copper/zinc/gold/silver project, in Eritrea, in the Horn of Africa, says fieldwork is proceeding apace on several fronts. The Asmara project consists of six defined deposits, four of which are the subject of a feasibility... 

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