Global Mining News in real time

South American mining to reach 6.2% growth by 2017

By: Jonathan Rodin The South American mining industry will reach an estimated compound yearly growth rate of about 6.2% from 2012 to 2017, which will take the industry to a total value of $184.3-billion. Some of the world’s largest copper, bauxite, iron and nickel deposits are situated in South America, with the... 

Merged Glencore, Xstrata would take aim at iron ore

By: Reuters An $80-billion marriage of commodities trader Glencore and miner Xstrata could lead to a new round of takeovers in iron ore, creating a goliath eager to muscle its way onto one of mining's richest and most closely guarded industries. Glencore and Xstrata, which have yet to reach a deal, would... 

Advancements to lie in metallurgical processes

By: Idéle Esterhuizen The most significant advancements in the Southern Africa base-metals sector will in future relate to metallurgical processes, forecasts banking major Standard Bank mining and metals research analyst Michael Starke. 

Lundin's Conibear running the firm as though permanent CEO

By: Matthew Hill Lunding Mining interim CEO Paul Conibear said on Wednesday he was running the company as though he was permanently in the post, though the board had yet to appoint a permanent CEO. The TSX-listed copper and zinc producer said in May it would not pursue any takeover proposals after abandoning... 

China’s NDRC approves Perilya/Globestar deal

By: Esmarie Swanepoel Base metals developer Perilya has received formal approval from China’s National Development and Reform Commission (NDRC) for its C$184-million takeover offer for TSX-listed GlobeStar Mining Corporation. ASX-listed Perilya said on Tuesday that the NRDC approval was the last Chinese regulatory... 

Nyrstar meets upstream goals with Farallon takeover

By: Liezel Hill Top zinc producer Nyrstar is making good on a promise to improve its upstream integration with the proposed acquisition of Canada's Farallon Mining, CEO Roland Junck said on Tuesday. Farallon's main asset is the Campo Morado property in Mexico, where it operates the G-9 zinc/copper/gold/silver... 

Zinc major continues investments in metal-rich Peru

By: Keith Campbell Despite the current low zinc prices – they are at about half the level they were a year ago – metals company Votorantim Metais, part of Brazilian conglomerate Votorantim Group, has confirmed that it will complete its $500-million expansion of its Cajamarquilla zinc refinery, in Peru. 

Project delays, mine shutdowns and cutbacks  

A chronological summary of project delays, mine shutdowns and production cutbacks announced by miners around the world in response the falling metals prices and tightening financial markets. Begins July 2008. 

OZ Minerals arranges bridge loan

By: Liezel Hill The world's second-biggest zinc producer, OZ Minerals, has secured a bridging finance facility of up to A$140-million, the firm announced on Thursday. The company has been struggling to refinance about $560-million of debt for months, and will use the money available through the bridge facility... 

Base-metals-miner Oz Minerals shuts Australian mine

By: Esmarie Swanepoel The world’s second-largest zinc producer, Oz Minerals, on Tuesday announced that it would put the Scuddles mine, at its Golden Grove operations in Western Australia, on care-and-maintenance. The company stated that operating costs would be reduced by about $15-million, and zinc production for... 

Oz Minerals warns of lower profits as commodity prices fall

By: Esmarie Swanepoel The world’s second largest zinc producer, and Australia’s third largest diversified miner, Oz Minerals, on Wednesday warned that 2008’s profits would be lower-than-expected, because of the substantially lower commodity prices, the current market volatility, and the generally higher production... 

Workers to strike at Namibia's Skorpion Zinc

By: Reuters Workers at Namibia's biggest zinc producer Skorpion Zinc are going on strike from Friday over a pay dispute, the Mineworkers Union of Namibia (NUM) said on Wednesday. NUM General Secretary Joseph Hengari said annual wage negotiations with Skorpion's management were deadlocked and... 

Aim Resources reshuffles board, looks to appoint new MD

Emerging African zinc producer Aim Resources announced on Tuesday that it was looking to appoint a new MD, as current Mark Flory had been appointed as nonexecutive chairperson. 

EuroZinc, Lundin Mining agree to copper, zinc mining merger

By: Nelendhre Moodley EuroZinc Mining Corp. and Lundin Mining Corp., two Vancouver-based mining companies, agreed to merge, forming a copper and zinc producer with four profitable mines. 

Teck withdraws from Inco fight as equity sale fails

By: Bloomberg Teck Cominco Ltd., the world's largest zinc producer, withdrew from the three-way contest for Canadian nickel miner Inco Ltd., increasing the likelihood Brazil's Cia. Vale do Rio Doce's $17,4-billion cash offer will win. 

Teck Cominco plans to boost Inco bid to $17,8bn

By: Bloomberg Teck Cominco Ltd. said it's prepared to offer C$20-billion ($17,8-billion) and put up more cash in a push to win the bidding for Inco Ltd., the Canadian mining company at the center of a three-way takeover contest. Teck Cominco proposed paying C$89 a share for Inco, including at least C$71.20 in... 

Teck's Lindsay says higher bid for Inco is 'unlikely'

By: Bloomberg Teck Cominco Ltd., the world's largest zinc mining company, probably won't increase its C$19,4-billion ($17,4-billion) takeover offer for Inco Ltd., which is seeking further talks. 

Teck Cominco boosts Inco bid to thwart Phelps deal

By: Bloomberg Teck Cominco Ltd., the world's largest zinc producer, boosted its hostile bid for nickel miner Inco Ltd. by 12 percent to C$16,5-billion ($14,7-billion) to thwart a competing deal with Phelps Dodge Corp. 

Record output at Australian zinc project

Zinc producer Kagara Zinc has had a good production quarter at its Australian Mt Garnet project which saw record output of zinc, lead and copper metal and cash costs fall to US23 cents a pound of payable zinc. 

China zinc exports slip on power cuts, home demand

China's exports of zinc have fallen this month as the country's producers grapple with power shortages in several provinces and a reduction in their export tax rebate, traders of the metal said. 

Chinese zinc company sees higher profits

Huludao Zinc Industry company, China's top zinc producer, on Friday posted a net profit of 37,9-million yuan for the first half, down 49% from a year earlier on low metal prices and high concentrate prices. 

SA minerals agency acquires new analyser technology

South African mineral and metallurgical agency Mintek has acquired a mineral-liberation analysers (MLA) from the Julius Kruttschnitt Mineral Research Centre (JKMRC) in Australia. 

Chinese zinc producer to raise output, capacity

to increase output to 80 000 t this year from 60 000 t in 2002, a company official said yesterday. Hongda, a top zinc producer in southwestern province of Sichuan, also planned to nearly triple its capacity to 300 000 t/yr in three years, which would make it one of the top zinc firms in China,... 

Chinese zinc refiners protest low margins

Dismal treatment charges are pressuring China's key zinc firms to trim output targets and limit imports of raw material this year, company officials and analysts said yesterday. 

Leading Chinese zinc producer to keep output flat

Top Chinese zinc producer Huludao Zinc plans to maintain 2003 output steady at last year's 221,600 tonnes and keep one of its plants shut this year, a company official said on Thursday. 

China zinc firms to trim output

China's key zinc producers are expected to trim output significantly this year as languishing metal prices and a dearth of concentrates haunt the industry, company officials said yesterday. 

Mintek defends hazardous-waste work

State metals and minerals researcher Mintek says that the organisation’s work performed for now-liquidated Australian zinc producer Pasminco on hazardous waste is of value to the environment worldwide and should be applauded, rather than slated. 

Interest shown in liquidated zinc miner’s assets

The world’s largest zinc producer, Pasminco, has received indications from Swiss miner Glencore International, and Canada’s Noranda and Tock Corporation that they may bid for the Century mine, the Australian company’s biggest asset. 

China stops output at zinc smelter

China’s biggest zinc producer, Huludao Zinc, has stopped production at one of its smelters due to dismal global prices, plant officials said last week. 


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