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Katanga appoints new COO

By: Simone Liedtke     9th July 2018 TSX-listed Katanga Mining, which is a subsidiary of diversified miner Glencore, has appointed Samuel Rasmussen COO. Rasmussen, who holds a BSc in Chemical Engineering and Petroleum Refining from the Colorado School of Mines, has copper processing and mining experience in large-scale openpit and... 

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

Euro Sun says Rovina Valley mining licence working its way through Romania govt

By: Henry Lazenby     24th May 2018 TSX-listed project developer Euro Sun Mining reported on Wednesday that the mining licence for its flagship Rovina Valley copper/gold project, in Romania, is working its way through government, with the National Agency for Mineral Resources and the Secretary General of Government (SGG) having... 

Nevsun cites inadequate value, problematic structure in rejecting proposal

By: Henry Lazenby     8th May 2018 Base metals miner Nevsun Resources has publicly broken its silence on the announced C$1.5-billion takeover proposal led by Euro Sun Mining and supported by Lundin Mining. The miner issued a statement on Tuesday, saying the board unanimously rejected four consecutive proposals – three by Lundin... 

Nevsun snubs C$1.5bn Lundin Mining, Euro Sun proposal 4 times

By: Henry Lazenby     8th May 2018 Canadian base metals producer Nevsun Resources remained mum on Monday regarding a C$1.5-billion unsolicited proposal disclosed by suitors Lundin Mining and Euro Sun Mining. Toronto-based Lundin said it had been unable to successfully engage Nevsun in “meaningful discussions” after several attempts. 

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... 

eCobalt appoints process manager

By: Creamer Media Reporter      13th March 2018 eCobalt Solutions is accelerating the development of its flagship Idaho project with the appointment of Darby Stacey as the mill and processing manager. Stacey will be responsible for leading all of the company's mineral processing and metallurgical activities in the historic Idaho Cobalt Belt,... 

Lundin stock tumbles on disappointing production outlook

By: Henry Lazenby     1st December 2017 Base metals producer Lundin Mining saw about 21% of its TSX-listed equity wiped out on Thursday after it reported a disappointing long-term production outlook on Wednesday. The Toronto-headquartered company punted significant investments in both the Candelaria copper mine and mill, in Chile,... 

Lundin accelerates exploration at all sites into 2018

By: Samantha Herbst     6th September 2017 TSX-listed base metals miner Lundin Mining’s exploration efforts continue to add significant value to the company’s assets and, in light of improved market conditions, the company plans to accelerate exploration at all mine sites in 2018, as well as advance at least two new copper-focused... 

Lundin swings back into black

By: Henry Lazenby     27th July 2017 Higher metals prices, higher sales volumes and lower operating costs have helped push Canadian diversified miner Lundin Mining back into the black, according to the company’s financial report for the three months ended June 30, published Wednesday. Net earnings from continuing operations for the... 

Berkut to explore World War-era base metals project in Sweden

By: Mariaan Webb     26th July 2017 Australia’s Berkut Minerals has been granted a licence for an advanced, near-mine exploration opportunity in northern Sweden, the company announced on Wednesday. Located on the north-west end of the Skellefteå mineral belt, the Lainejaur project includes a historic nickel, cobalt, copper mine,... 

Metso clinches life cycle services contract renewal at Swedish mine

By: Ilan Solomons     21st July 2017 Base metals miner Lundin Mining’s Zinkgruvan zinc, lead, copper and silver mine in Askersund, Sweden has signed a new life cycle services (LCS) agreement with diversified engineering group Metso. The agreement covers mill lining and related services for five grinding mills and is valid for three... 

Lundin to trade on Nasdaq Stockholm

By: Mariaan Webb     1st June 2017 Canadian base metals miner Lundin Mining has been given approval for listing its shares on Nasdaq Stockholm, with trading set to start next week under the trading symbol ‘LUMI’. Lundin is converting Swedish Depository Receipts (SDRs) to shares for trading on Nasdaq Stockholm and will not be... 

Lundin approves €257m Portugal zinc expansion

By: Mariaan Webb     12th May 2017 Base metals miner Lundin Mining has approved the €256.5-million Zinc Expansion Project (ZEP) at its Neves-Corvo mine, in Portugal, which will more than double the operation’s zinc production. Announcing the results of a positive feasibility study for ZEP, CEO Paul Conibear reported this week... 

Lead mine production to increase to 5Mt

21st April 2017 Global lead mine production is forecast to reach about five-million tonnes by 2020 from 4.57-million tonnes as demand increases, representing a compound annual growth rate of 2.1%, says global research and consulting firm GlobalData, noting the automobile industry as a major demand driver.... 

Congo said to get $100-million to clear China Moly purchase

By: Bloomberg     22nd February 2017 The Democratic Republic of Congo’s state mining company received $100-million as part of a settlement to drop its objections to the sale of the country’s biggest copper mine to Chinese buyers, according to people with knowledge of the agreement. The cash payment was made last month after... 

Friedland’s Ivanhoe soars as market bets on Congo motherlode

By: Bloomberg     31st January 2017 Canada has a new stock-market crush. Ivanhoe Mines, the Vancouver-based company founded by Robert Friedland, is the best-performing stock on the S&P/TSX Composite Index in the past six months as expectations build over its African copper project. 

DRC drops objection to $3.8bn Freeport, Lundin sales

By: Bloomberg     18th January 2017 The Congolese government has dropped objections to Freeport-McMoRan and Lundin Mining’s $3.8-billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end to an eight-month dispute. Minister of Mines Martin Kabwelulu said by text messages that he had written... 

Institutional challenges overshadow mineralisation

By: Nadine James     2nd December 2016 Prevailing institutional challenges facing Zambia and the Democratic Republic of Congo (DRC) will continue to hinder copper mining in the region if not addressed in a timely and satisfactory manner, says mining and business consultancy Core Africa, a division of Core Consultants. Core Africa... 

Lundin to weigh deals and dividends when Tenke sale closes

By: Bloomberg     16th November 2016 Lundin Mining will consider acquisitions and a regular dividend after it completes the sale of its stake in a giant copper and cobalt mine in the Democratic Republic of Congo, its chief executive officer said. “We’ll consider all viable alternatives of what to do with the cash when it comes in,... 

Another Chinese firm pockets Tenke stake as Lundin sells share for $1.14bn

By: Henry Lazenby     15th November 2016 Canadian base metals miner Lundin Mining has agreed to sell its effective 24% stake in the Democratic Republic of Congo-based Tenke Fungurume mine for $1.14-billion to a Chinese private equity firm, the company said in a statement late Monday. Lundin will sell its 30% indirect interest in... 

Kinross sells 4.7% stake in Lundin

By: Henry Lazenby     27th September 2016 Gold producer Kinross Gold has agreed to sell a 4.7% stake in Lundin Mining to GMP Securities, amounting to 5.5-million common shares at C$5.60 apiece. Kinross on Monday said the deal was part of its portfolio management strategy and would generate C$30.8-million in gross proceeds. 

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Lundin gets another extension on right of first refusal to Freeport’s Tenke Fungurume

By: Henry Lazenby     15th September 2016 Diversified Canadian base metals miner Lundin Mining got a two-week extension to its right of first refusal on US diversified miner Freeport McMoRan’s (FCX’s) 70% indirect interest in TF Holdings, which holds 80% of the world-class Tenke Fungurume copper/cobalt mine, in the Democratic Republic of... 

Lundin affected by low price environment, reports second-quarter loss

By: Anine Kilian     29th July 2016 Canadian base metals company Lundin Mining has reported a net loss attributable to shareholders of $791.2-million for the quarter ended June 30. The loss included a $772.1-million asset impairment on the company's 24% interest in the Democratic Republic of Congo-based Tenke Fungurume... 

Lundin granted extension to decide on Tenke Fungurume buyout

By: Creamer Media Reporter      20th July 2016 Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF... 

Low commodity prices changing traditional M&A deal making, as value, volume drop

By: Henry Lazenby     21st March 2016 Low commodity prices are having a big impact on merger and acquisition (M&A) activity, owing to playing such a critical role in determining deal values, professional services firm KPMG partner Jamie Samograd, who focuses on mining in the deal advisory practice, tells Mining Weekly Online.... 

Lundin reports significant Q4 loss as low prices force asset impairments

By: Henry Lazenby     23rd February 2016 Canadian diversified miner Lundin Mining on Monday reported a $377.7-million, or $0.52 a share, fourth-quarter net loss, on the back of a significant decline in metal prices, which forced the company to book impairments on several assets. The net loss compared with a profit of $36.6-million, or... 

Lundin increases copper production guidance for 2016, 2017

By: Creamer Media Reporter      3rd December 2015 An improved production profile at diversified miner Lundin Mining’s 80%-owned Candelaria operation, in Chile, has led to an improvement in the company’s overall copper production guidance for 2016 and 2017, compared with the estimates provided at the end of 2014. Lundin on Wednesday released its... 

Approval granted for Chilean copper mine extension EIA

14th August 2015 Diversified base metals mining company Lundin Mining announced that it had received approval of the environmental impact assessment (EIA) for the extension of operations and mine life for its Candelaria copper mine in Chile last month. The $413-million Candelaria 2030 project includes a number of... 

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

By: Tracy Hancock     22nd January 2015 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 starts commercial production at US nickel/copper mine

By: Creamer Media Reporter      25th November 2014 Canadian diversified miner Lundin Mining on Monday announced the start of commercial production at the Eagle base metals mine, in Michigan, in the US. The high-grade nickel/copper mine, which cost about $400-million to develop, reached commercial production two months after start-up on September... 

Lundin starts production at $400m Eagle mine, Michigan

By: Henry Lazenby     23rd September 2014 Diversified base metals miner Lundin Mining has started copper and nickel concentrate production at its only US mine, the slightly-less-than $400-million Eagle project, in Michigan. The miner on Tuesday announced that construction activities were now substantially complete, with the project... 

Near-mine communities up in arms against Freeport McMoRan’s DRC unit

By: Nomvelo Buthelezi     25th May 2012 Communities living near the new $2-billion Fungurume copper/cobalt mine, in the Democratic Republic of Congo (DRC), are up in arms against the gigantic mine’s developer, which they accuse of not delivering on its pledge to create substantial employment for locals or to implement community... 

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