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Glencore commits to migrating first world safety to third world countries 

By: Martin Creamer Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Zinc market to reach ‘pinch point’ in 2016/17 as mine closures outweigh new output

By: Henry Lazenby Profit margins for zinc miners will probably rise strongly over the next five years, boosted by expected price increases on the back of a widening supply deficit. According to advisory firm Wood Mackenzie (Woodmac) analyst Jonathan Leng, the next two years, 2016 and 2017, represented the “pinch... 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

Eagle-eyed investors urged to seek out rich pickings among juniors

By: Simon Rees The worst of the mining industry’s declines are over, although it now faces a trough of uncertain length, the head of Kaiser Research Online John Kaiser told an audience at the Prospectors & Developers Association of Canada 2015 convention. “But now it’s time to get serious – to get out there and... 

Mitsui cuts zinc premiums for first time in 6 years as China exports rise

By: Reuters Japan's biggest zinc smelter, Mitsui Mining and Smelting, has slashed its annual premiums to overseas buyers for 2015 by around 10%, marking the first cut in six years as rising exports by top user China spill into the region. Premiums are a surcharge paid to producers on top of futures prices to... 

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Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Aus explorer exercises option to acquire two US projects

By: Henry Lazenby Australian explorer Carnavale Resources has exercised an option to acquire private firm Tojo Minerals, which has the rights to the Red Hills project, in Nevada, and the Little Butte project, in Arizona. Perth, Australia-based Carnavale said in a statement that it would move to immediately ramp-up... 

Anglo's zinc loss now Vedanta's sweet gain

By: Martin Creamer London-listed diversified mining company Vedanta Resources has found itself in a sweet spot as the owner of the zinc assets that Anglo American saw fit to sell off four years ago, when China seemed in perpetual over supply mode and small operations abounded. But China is no longer supplying as it... 

Anglo's zinc loss now Vedanta's sweet gain
Photo by Duane Daws
Deshnee Naidoo

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Hudbay Minerals back in black despite missing analyst expectations

By: Henry Lazenby Canadian base metals miner Hudbay Minerals has reported a fourth-quarter net profit on the back of recognising temporary tax recovery differences in Peru and Manitoba, in Canada. The Toronto-based firm reported an after-tax profit of C$49.6-million, or C$0.21 a share, compared with a loss of... 

Ivanhoe continues Kipushi drilling programme

By: Megan van Wyngaardt TSX-listed diversified miner Ivanhoe Mines on Tuesday reported that it has completed 75 drilling holes, totalling about 14 900 m of its planned 20 000 m underground diamond drilling programme at the Kipushi project, in the Democratic Republic of Congo. The company would now focus its drilling... 

Teck Resources on the rise despite lower earnings forecast

By: Henry Lazenby Canadian diversified miner Teck Resources has reported a significantly narrower fourth-quarter adjusted profit as lower copper and steelmaking coal prices have dented the company’s financial performance. For the three months ended December 31, Teck reported net profit, excluding special items of... 

Bisha, Harena resources increased – Nevsun

The measured and indicated resources of TSX-listed Nevsun’s Bisha and Harena deposits, in Eritrea, have increased to 1.2-billion pounds of copper, 3.4-billion pounds of zinc, 750 000 oz of gold and 42-million ounces of silver, following the completion of a 2014 drilling programme. The Bisha... 

Bisha, Harena resources increased – Nevsun

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

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... 

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