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Base Metals News

AfriTin suspends mining in Namibia, continues processing

By: Marleny Arnoldi     Updated 52 minutes ago Aim-listed AfriTin has partly suspended activity at its Uis mine, in Namibia, following the country’s declaration of a partial lockdown from March 27 to April 16. In Namibia’s legislation, mining operations are categorised as critical economic services and are able to continue minimum... 

Katanga postpones acid plant commissioning

By: Simone Liedtke     Updated 3 hours ago TSX-listed Katanga Mining is closely monitoring the progress of the spread of Covid-19 and is taking measures to contain the impact thereof on the health of its employees and operations. Meanwhile, as previously announced, Katanga’s 75%-owned subsidiary Kamoto Copper Company (KCC) entered into an... 

Zinc miners expected to restart operations on strong prices

By: Natasha Odendaal     Updated 5 hours ago Strong zinc prices are increasingly prompting miners to bring idled capacity back online and invest in new projects. The latest ‘Global Zinc Mining Outlook’ report shows that the return of some stalled capacity and new projects in key countries will drive growth over the coming quarters, despite... 

Nevada Copper closes balance sheet strengthening transactions

By: Tasneem Bulbulia     Updated 5 hours ago TSX-listed copper producer Nevada Copper, which owns Pumpkin Hollow in Nevada, US, has closed several previously announced balance sheet strengthening transactions, including amendments to its senior credit facility with KfW IPEX-Bank and amendments to the metals purchase and sales agreement with... 

Rio halts potline at NZ smelter

By: Esmarie Iannucci     Updated 6 hours ago Major Rio Tinto will close one of its four potlines at Tiwai Point aluminium smelter, in New Zealand, as part of measures to combat Covid-19. CEO and GM of the New Zealand’s Aluminium Smelter, in which Rio holds a 79.36% interest, Stewart Hamilton said that the company had worked hard to... 

Gold Fields places South Deep mine on care and maintenance

By: Martin Creamer     Updated 7 hours ago Johannesburg- and New York-listed gold mining company Gold Fields has placed its South Deep gold mine in Gauteng on care-and-maintenance to coincide with South Africa’s lockdown until April 16. In publishing its integrated annual report for 2019 and a number of associated reports on its website,... 

Gold Fields places South Deep mine on care and maintenance
Photo by Creamer Media
Nick Holland

EPA approves Sulphur Springs

By: Esmarie Iannucci     31st March 2020 The Western Australian Environmental Protection Authority (EPA) has recommended the approval of ASX-listed Venturex Resources’ Sulphur Springs copper/zinc project. The Minister of Environment is now expected to make a final decision on the project. 

Global copper miners head for worst quarter since 2008

By: Bloomberg     30th March 2020 Copper miners are poised for their worst quarter since 2008 after the coronavirus pandemic fueled demand fears for industrial metals and forced companies to curb mining operations. The BI Global Copper Competitive Peers index has slumped 37% this quarter, led by Teck Resources, Hudbay Minerals... 

Mines close as Spain tightens coronavirus controls

By: Mariaan Webb     30th March 2020 Spain has implemented enhanced measures to protect its people from the fast-spreading coronavirus with a new royal decree on Sunday stipulating that only employees from essential industries are allowed to work for the next week-and-a-half. The list of essential industries excludes mining and... 

Mines close as Spain tightens coronavirus controls
The Proyecto Riotinto mine, in Spain.

Trevali says processing impacted by Peru emergency extension

By: Simone Liedtke     30th March 2020 The Santander zinc/lead mine is continuing to operate during Peru’s national emergency, but TSX-listed Trevali Mining reported on Friday that the country’s extension of the emergency would impact on processing at the 2 000 t/d operation. The Vanouver-based miner said that it would not be able to... 

Oz Minerals targets A$150m cost cuts

By: Esmarie Iannucci     30th March 2020 Copper/gold miner Oz Minerals on Monday maintained its production guidance for the full 2020, but announced a A$150-million deferral in overall capital expenditure for the year. The ASX-listed company told shareholders that in light of the COVID-19 pandemic, the company had undertaken an... 

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     30th March 2020 Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Vedanta CEO Venkatakrishnan resigns

By: Reuters     27th March 2020 Diversified miner Vedanta said on Friday CEO S Venkatakrishnan has resigned due to personal reasons, less than two years after he took the helm. Sunil Duggal, current head of Vedanta unit Hindustan Zinc, will take over as interim CEO. Venkatakrishnan, who was previously CEO of South African... 

Vedanta CEO Venkatakrishnan resigns
Srinivasan Venkatakrishnan

Bolivia's largest mine suspends operations as virus controls tighten

By: Reuters     27th March 2020 Bolivia's San Cristóbal mine, a huge desposit of zinc, lead and silver, has suspended operations after the country imposed tough rules to halt the spread of coronavirus, its operator Minera San Cristóbal said in a statement on Friday. The company, a wholly-owned subsidiary of Japana's Sumitomo... 

Anglo American cuts South African iron-ore, coal guidance 

By: Donna Slater     27th March 2020 Diversified miner Anglo American is taking steps at its relevant operations in line with Covid-19-related regulations enforced in the various jurisdictions in which it operates around the world. It will also continue to provide a number of essential services, including security; mine... 

CEZ to proceed with Cinovec investment

By: Marleny Arnoldi     27th March 2020 London-listed European Metal Holdings (EMH) on Friday reached final agreement with integrated energy utility CEZ Group around a partnership and investment into the Cinovec lithium/tin project, in Czech Republic. CEZ in November agreed to become a 51% shareholder in EMH's Czech subsidiary Geomet.... 

CEZ to proceed with Cinovec investment

Glencore winds down most operations in line with Covid-19 restrictions 

By: Donna Slater     27th March 2020 Diversified mining and marketing company Glencore, with operations internationally, is winding down most of its operations and putting them on temporary care and maintenance as lockdowns are enforced in various countries to slow the spread of Covid-19. The London- and Johannesburg-listed company... 

Alaska’s Pebble project team keeps eye on RoD goal despite Covid-19 precautions

By: Mariaan Webb     27th March 2020 Canada’s Northern Dynasty said on Thursday that work on the Pebble project, in Alaska, continued to advance, despite the mandatory and voluntary steps that its US-based subsidiary implemented in response to the spreading of the novel coronavirus. The project developer confirmed that it still... 

Alaska’s Pebble project team keeps eye on RoD goal despite Covid-19 precautions

Zimbabwe cuts rates, miners send coronavirus distress signals

By: Reuters     27th March 2020 Zimbabwe's central bank cut its main lending rate to 25% on Thursday and set a fixed exchange rate as part of measures to support the economy against the coronavirus pandemic. The Chamber of Mines, which represents major mining companies in the country, said mineral production could fall 60% in... 

Freeport-McMoRan in talks over limited operations at Cerro Verde

By: Mariaan Webb     27th March 2020 NYSE-listed Freeport-McMoRan said on Thursday that it was in discussions with Peruvian authorities to allow the Cerro Verde mine to conduct limited operations during the country’s extended state of emergency, positioning the mine to return to normal operations when restrictions were lifted.... 

Freeport-McMoRan in talks over limited operations at Cerro Verde

Trevali puts Caribou mine on care and maintenance amid Covid-19 outbreak

By: Simone Liedtke     26th March 2020 TSX-listed Trevali Mining Corporation has announced the temporary suspension of operating activities at its Caribou mine near Bathurst, in New Brunswick. The temporary suspensions follow the deterioration of the global zinc market, which has been exacerbated by the continued challenges presented... 

Jubilee confident the group will withstand Covid-19 disruption

By: Simone Liedtke     26th March 2020 Aim- and AltX-listed Jubilee Metals says it has a “robust business model” and is, therefore, confident that the group will be able to withstand the disruption caused by the spread of the Covid-19 virus across the globe. In anticipation of this disruption, Jubilee says it has already taken... 

Sunrise ‘making steady progress’ with mine permitting for US project

By: Simone Liedtke     26th March 2020 Aim-listed Sunrise Resources on March 26 said it was making steady progress with the mine permitting process for its CS Pozzolan-Perlite project, in the US. The process is currently at a very advanced stage, the miner said, and all supplemental environmental reports have been accepted as... 

Imperial narrows loss to $40m

By: Marleny Arnoldi     26th March 2020 TSX-listed Imperial Metals in the year ended December 31, managed to narrow its net loss from continuing operations to $40.2-million from the $109-million loss reported in the year ended December 31, 2018. This amounted to a loss a share of $0.32 apiece in 2019, compared with a loss a share of... 

Imperial narrows loss to $40m
Imperial Metals' Huckleberry mine, in British Columbia

New gold futures contract launched – LBMA 

By: Martin Creamer     26th March 2020 A new gold futures contract just launched has expanded delivery options, London Bullion Market Association (LBMA) said on Thursday. The membership of LBMA, a gold and silver trade association, is made up of banks, traders and logistics companies across the world, resulting in it being given... 

New gold futures contract launched – LBMA
Photo by Creamer Media
LBMA executive board director Sakhila Mirza.

Hot Chili strikes production deal in Chile

By: Esmarie Iannucci     26th March 2020 Junior Hot Chili has accepted an offer from Chilean-government agency Empresa Nacional de Mineria (Enami) for the lease mining and processing of ore from the Productora copper/gold project, in Chile. Subject to a formal agreement, Enami would lease the mining concession for a period of two... 

Chile's copper miner Codelco suspends construction projects over coronavirus

By: Reuters     26th March 2020 Chile's Codelco, the world's largest copper miner, said on Wednesday it would temporarily suspend construction on some projects in a bid to halt the spread of coronavirus, as the company´s unions ratcheted up pressure for more safety measures. In a statement Codelco said the 15-day suspension... 

Coronavirus threatens copper giant Peru's 21-years of growth

By: Reuters     25th March 2020 Peru may be on track to record its first annual economic contraction in over two decades as the world's second largest copper producer is hammered by the impact of a global coronavirus pandemic hurting commodities demand. Around the country miners have been forced to slow or suspend operations... 

Coronavirus threatens copper giant Peru's 21-years of growth

Kambalda restart to cost A$68m - Mincor

By: Esmarie Iannucci     25th March 2020 A definitive feasibility study (DFS) into its integrated nickel re-start plan, in Kambalda, has confirmed the potential for the production of 63 000 t of nickel-in-concentrate over a five year period. ASX-listed Mincor Resources on Wednesday noted that the project would require a capital... 

Kambalda restart to cost A$68m - Mincor

First Quantum eyes stake sale in Panama mine – sources

By: Reuters     24th March 2020 Miner First Quantum Minerals is considering selling a minority stake in its flagship Cobre Panama copper mine to reduce debt, two banking sources familiar with the discussions said. First Quantum's possible move comes as global miners scramble to bolster finances strained by the coronavirus... 

First Quantum ‘remains stable’, but cuts executive salaries by 20%

By: Simone Liedtke     24th March 2020 TSX-listed First Quantum Minerals has said its production and sales “remain stable” in the current environment and the company is maintaining its production guidance for the year. In a statement on March 24, CEO Philip Pascall said the company’s key priorities are the health of its employees and... 

First Quantum ‘remains stable’, but cuts executive salaries by 20%
First Quantum's Cobre Panama

South African miners preparing for three-week lockdown 

By: Simone Liedtke     24th March 2020 Various South African mining companies have pledged their support for President Cyril Ramaphosa’s Covid-19 directives and range of measures in respect of mitigating the impact of the pandemic on South Africa’s economy. The pledges follow the President’s address to the nation on Monday evening,... 

South African miners preparing for three-week lockdown
Photo by Creamer Media
President Cyril Ramaphosa

Taseko’s operations not affected by Covid-19

By: Marleny Arnoldi     24th March 2020 TSX- and NYSE-listed Taseko Mines confirms there have been no confirmed cases of Covid-19 nor related impacts at any of its operations or offices in Canada and the US. Particularly, the company’s 75%-owned Gibraltar mine, in British Columbia, has operated at planned rates in the first quarter... 

Exploration on Oriole’s newly applied for land in Cameroon will have to wait

By: Marleny Arnoldi     24th March 2020 Aim-listed Oriole Resources has been granted another ten-year tenure for the 472 km2 Dalafin land package under a new licence called Senala, based in the highly prospective south-eastern corner of Senegal. The company in the year ended December 31, 2019, also applied for an additional eight... 

Ok Tedi workers cleared of Covid-19

By: Esmarie Iannucci     24th March 2020 State-owned Ok Tedi Mining on Tuesday said that the results of its three remaining potential COVID-19 cases have come back negative. Between March 15 and 20 the company identified seven potential COVID-19 cases at the Ok Tedi copper/gold/silver mine, in Papua New Guinea, with samples sent for... 

Orion Minerals halts Prieska financing talks  

By: Esmarie Iannucci     24th March 2020 Copper developer Orion Minerals on Tuesday said that it would postpone debt financing activities for the development of its Prieska copper project, in South Africa, until global macro-economic and market conditions stabilise. The ASX- and JSE-listed Orion has told shareholders that the company... 

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