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R/€ = 17.07 Change: -0.10
R/$ = 16.75 Change: -0.23
Au 1759.45 $/oz Change: -45.76
Pt 864.29 $/oz Change: -12.61
 

Base Metals News

Automakers ramping up investments into upstream nickel, cobalt

By: Darren Parker     Updated 3 hours ago Market research firm Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says automakers are increasing their upstream investments and supply contracts to secure enough battery metals, such as lithium, cobalt and battery-grade nickel, to drive forward their respective electric... 

Deep-South says final hearing over Haib copper licence to be held early in Oct

By: Marleny Arnoldi     Updated 5 hours ago Dates for the final hearing between TSX-V-listed Deep-South Resources and the Namibian Ministry of Mines and Energy has been set for October 3 and 4. During a case management meeting on June 30, which served to prepare for the final hearing, the High Court of Namibia ordered Deep-South’s... 

Anglo Asian portfolio pivoting towards copper

By: Mariaan Webb     Updated 6 hours ago The Azerbaijan Parliament has ratified amendments to Anglo Asian’s production sharing agreement, granting the company three new contract areas over a combined area of 882 km2. The Parliamentary ratification legally granted the company the three new contract areas that it was awarded in September... 

Copper crash deepens as recession fears dominate metals trading

By: Bloomberg     6th July 2022 Copper extended a sharp retreat after the economic bellwether suffered one of its worst days since the depths of the pandemic in 2020 on growing fears of a global recession. Investors are fretting over a range of threats to demand, from Europe’s gas crisis to a US slowdown and renewed virus... 

Copper crash deepens as recession fears dominate metals trading

Judge allows Sandfire’s Black Butte development to continue

By: Mariaan Webb     6th July 2022 Copper miner Sandfire Resources’ US subsidiary has welcomed the District Court’s decision to allow it to continue with its development of the Black Butte copper project, in Montana. The court on Tuesday issued an order on remedies that would allow Phase 1 construction of Black Butte to be... 

Metals extend losses as global recession fears damp outlook

By: Bloomberg     5th July 2022 Copper fell to the lowest level in 17 months, with metals extending losses as global recession fears continue to damp the demand outlook for commodities. Sentiment remains sour for the industrial materials used in everything from construction to new energy vehicles. Copper, widely considered an... 

Exciting listing on JSE’s AltX poised to give investors pure copper play  

By: Martin Creamer     5th July 2022 The reverse listing of Big Tree Copper into SHiP Copper Company on the AltX of the Johannesburg Stock Exchange in October is expected to raise between R60-million to R250-million for the ramping up of combined production to 10 000 t of copper a year in the next three years. SHiP, run by Shirley... 

Picrture supplied.
Big Tree Copper CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer.

Ivanhoe's Kamoa-Kakula achieves another quarterly production record

By: Creamer Media Reporter      5th July 2022 The Phase 1 and 2 concentrator plants at the Kamoa-Kakula mine, in the Democratic Republic of Congo, produced 30 379 t of copper in concentrate in June – the third consecutive month that the mine has surpassed its 7.6-million-tonne-a-year throughput design capacity. It also contributed to another... 

Congo orders China's CMOC to stop exports from Tenke Fungurume cobalt mine

By: Reuters     5th July 2022 A temporary administrator appointed by a Congolese court to run the world's second-largest cobalt mine ordered majority owner CMOC to suspend marketing and export of its production, letters seen by Reuters showed. CMOC, which has previously said that Tenke Fungurume Mining (TFM) remains under its... 

Potential $70m lifeline for Nevada Copper

By: Mariaan Webb     5th July 2022 Embattled miner Nevada Copper on Monday announced nonbinding terms with its senior lender, KfW IPEX-Bank, and its biggest shareholder, Pala Investments, for a loan of up to $70-million. The copper producer, which at the weekend suspended mining activities at Pumpkin Hollow, reported that the... 

Potential $70m lifeline for Nevada Copper

Russian tycoon Potanin to start Nornickel-Rusal merger talks

By: Bloomberg     5th July 2022 Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel, said he’s ready to discuss merging the mining giant with United Co Rusal International as sanctions against Russia weigh on both companies. Potanin has headed Nornickel since striking a 2012 shareholder accord with... 

Am image of Russian billionaire Vladimir Potanin
Russian billionaire Vladimir Potanin

Chile delivers final Constitution draft as skepticism runs high

By: Bloomberg     5th July 2022 Chile’s Constitutional Convention presented the final version of the charter that will be put to a referendum as a growing number of voters question the broad changes it would enact from social rights to political rules. The institution’s leadership handed the draft to President Gabriel Boric at... 

Industry taxes reach record heights - report

By: Esmarie Iannucci     5th July 2022 Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company... 

Osisko’s Gaspé copper project option extended

By: Mariaan Webb     4th July 2022 TSX-V-listed Osisko Metals’ option to acquire the Gaspé copper project from Glencore Canada has been extended to the end of the week, the company announced on Monday. Osisko in March announced the option to acquire the past-producing eastern Quebec copper mine, and said at the time that it had... 

Alara forms JV to bid for Saudi zinc-copper exploration licence

By: Darren Parker     4th July 2022 ASX-listed metals explorer and developer Alara Resources is hopeful that it will return to Saudi Arabia, announcing on Monday that it had formed a joint venture (JV) to bid for the award of a 353 km2 exploration licence that includes the company’s former Khnaiguiyah zinc-copper project. Alara... 

Coda sells Mt Piper to Kalamazoo

By: Darren Parker     4th July 2022 ASX-listed Coda Minerals has agreed to divest its Mt Piper gold project in central Victoria, to fellow-listed Kalamazoo Resources for a consideration package comprising a combination of upfront cash, shares and a future production royalty. Mt Piper was inherited by Coda as part of its recently... 

Phoenix launches novel bond linked to copper price

By: Reuters     4th July 2022 London-listed mining company Phoenix Copper is due to launch up to $80-million of bonds linked to the copper price this week, targeting investors bullish on the long-term outlook for the metal despite a recent downtrend, the chairman said. Mining companies often raise money by issuing shares or... 

Phoenix launches novel bond linked to copper price

New Anglo strategy director excited by mining’s green energy transition 

By: Martin Creamer     4th July 2022 The newly appointed group director of strategy and business development of diversified mining company Anglo American on Monday singled out mining’s green energy transition in commenting on the excitement of her new appointment. Helena Nonka, who is currently executive VP of corporate development... 

Picture supplied.
New Anglo American group director of strategy and business development Helena Nonka.

Glencore going all-electric at new Canada mine, says Epiroc

By: Mariaan Webb     4th July 2022 Diversified mining company Glencore has ordered a full fleet of battery-electric equipment for use at its Onaping Depth Project at the Sudbury integrated nickel operations, in Canada, says mining equipment manufacturer Epiroc. The nickel and copper mine is located below the existing Craig mine... 

An image of a battery operated mine truck
Epiroc’s Minetruck MT42 battery is part of the order by Glencore

Copper sinks to 17-month low as slowdown fears mount

By: Reuters     4th July 2022 Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of... 

South32 diversifying to meet sustainability demands

By: Tasneem Bulbulia     4th July 2022 Diversified miner South32 has undergone substantial change in the past year and has evolved considerably since its formation in 2015, with the company working to reshape its portfolio to become a global, diversified producer of the metals critical to a low-carbon future, South32 chief development... 

Cash-strapped Nevada Copper suspends Pumpkin Hollow mining activities

By: Mariaan Webb     4th July 2022 Copper mine developer Nevada Copper has suspended most mining activities at its Pumpkin Hollow underground mine and has warned that the company is in default of its obligations under certain financing and contractual arrangements. Nevada Copper, which previously warned of its liquidity... 

Cash-strapped Nevada Copper suspends Pumpkin Hollow mining activities

Chile plans to raise copper mining royalties and reform tax system

By: Reuters     4th July 2022 Chile's finance minister, Mario Marcel, on Friday introduced a tax reform bill that increases copper mining royalties on companies that produce more than 50 000 t/y and raises taxes on high-income earners to fund the government's proposed social programs and reforms. Chile is the world's top... 

Australian resources exports to set new records

By: Esmarie Iannucci     4th July 2022 Australia’s resource and energy export earnings are estimated to be worth A$405-billion in 2021–22, and is forecast to rise to A$419-billion in 2022–23, delivering two successive record years, the Office of the Chief Economist reported on Monday. As world supply responds to high prices and... 

Image shows container ships at Port Hedland

First production achieved at standalone nickel laterite heap leaching operation in Brazil

By: Darren Parker     1st July 2022 Following an 18 month construction and commissioning period, continuous nickel production has begun at privately held UK company Brazilian Nickel’s Piauí nickel project (PNP) in Brazil, which the world’s first stand-alone nickel laterite heap leaching operation. In 2016 and 2017, Brazilian Nickel... 

IGO to acquire 70% stake in Matsa’s Fraser Range tenements

By: Darren Parker     1st July 2022 ASX-listed Matsa Resources has entered into an agreement with exploration company IGO Newsearch, whereby IGO will acquire a 70% interest in the copper/nickel Symons Hill project as well as Matsa’s other Fraser Range tenements in Western Australia. Under the terms of the agreement, IGO will pay... 

Mine haulage transition to electric offered without disruption   

By: Martin Creamer     1st July 2022 If the world were to electrify every mine truck, it would stop 198 000 t of carbon dioxide (CO2) a day from entering the atmosphere, which equates to a single electrified mining truck eliminating what would take 46 000 trees to absorb. That mammoth sustainability benefit was driven home firmly... 

Creamer Media screenshot.
ABB's Erik Pretorius interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Copper slumps to 17-month low as recession fears haunt markets

By: Reuters     1st July 2022 Copper prices tumbled to a near 17-month low on Friday and were set for their fourth consecutive weekly decline, as fast-rising interest rates and weak economic data stoked fears of a global recession, which would dent demand for metals. Other industrial metals also fell, with zinc dropping over... 

Copper slumps to 17-month low as recession fears haunt markets

Spanish Parliament rejects motion to make mining approvals more difficult

By: Darren Parker     1st July 2022 The Spanish Parliament has rejected a motion by democratic socialist electoral alliance Unidas Podemos that would have made it more difficult to secure approvals for new mining projects and would have also increased taxes on existing mineral producers. On June 23, the motion was outvoted by an... 

Energy export, Pan African, Orion make headlines   

1st July 2022 Mining Weekly Editor Martin Creamer South Africa's potential to be an energy exporter; Pan African's definitive feasibility study on Mogale Gold’s tailing storage facilities; and Orion’s capital raise for its copper and zinc mine, Prieska.   

Photo of Martin Creamer
Energy export, Pan African, Orion make headlines

Bauba subsidiary Nuco Chrome granted eight-year mining right

By: Donna Slater     30th June 2022 Platinum and chrome miner Bauba Resources reports that its 74%-owned exploration company Nuco Chrome business has been granted a mining right, which is valid for eight years. The mining right – notarially executed on June 23 – came into effect on June 3, and will end on June 2, 2030.  

Cyprium to raise A$26m for copper projects

By: Tasneem Bulbulia     30th June 2022 ASX-listed Cyprium Metals has announced a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to A$26-million before costs. The company has received firm commitments in respect of a placement to issue about 139.1-million new shares at 11.5 c each to raise... 

Sandfire’s updated MRE sets strong foundation at MATSA

By: Tasneem Bulbulia     30th June 2022 ASX-listed Sandfire Resources has reported an updated measured, indicated and inferred mineral resource estimate (MRE) for the MATSA mining operations, in Spain, totalling 147.2-million tonnes, containing an estimated 2.1-million tonnes of copper, 4.4-million tonnes of zinc, 1.5-million tonnes of... 

LME examining UK's sanctions on Nornickel boss Potanin

By: Reuters     30th June 2022  The London Metal Exchange (LME) is examining sanctions which Britain has imposed on oligarch Vladimir Potanin, chief executive of Nornickel GMKN.MM, the world's largest refined nickel producer, the exchange said on Thursday. "We are looking into the detail of the sanctions and what it may mean... 

Metals set for worst quarter since 2008 on global downturn angst

By: Bloomberg     30th June 2022 Base metals headed for the worst quarterly slump since the global financial crisis in 2008 as China’s economy recovered only gradually and fears of a world recession intensified. The London Metal Exchange Index has tumbled 23% since the end of March, although the decline has been magnified due... 

Metals set for worst quarter since 2008 on global downturn angst

Rio Tinto, Corona Canada pilot low-carbon beer cans

By: Marleny Arnoldi     30th June 2022 British-Australian mining group Rio Tinto and beer brewer Corona Canada have launched a trial of Canada’s first specially-marked, low-carbon beverage can. The can was manufactured by Ball Corporation, using aluminium from Rio Tinto and leveraging emissions-free Elysis smelting technology. 

Britain sanctions Russia's 'Nickel King'

By: Reuters     29th June 2022 Britain on Wednesday announced sanctions on oligarch Vladimir Potanin, described by London as Russia's second-richest man and who has been buying assets from firms exiting Russia over the invasion of Ukraine. Potanin, known as Russia's "Nickel King", was included in the latest wave of sanctions... 

An image of Vladimir Potanin
Vladimir Potanin

Metro to expand Bauxite Hills operation

By: Darren Parker     29th June 2022 ASX-listed Metro Mining’s board has approved a final investment decision (FID), subject to financing, to expand the capacity of its Bauxite Hills mine, in Queensland, to 7-million wet metric tonnes a year for a capital expenditure (capex) of A$28.3-million. The expansion will be financed from a... 

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