R/€ = 16.98 Change: 0.19
R/$ = 14.32 Change: 0.15
Au 1810.22 $/oz Change: 2.26
Pt 1053.00 $/oz Change: -5.00

Base Metals News

Vale reaches tentative agreement with Sudbury nickel miners' union

By: Reuters     Updated 4 hours ago A union representing striking workers at Vale's nickel mine in Sudbury, Canada reached a tentative agreement to settle an ongoing labour dispute that saw 2 500 workers walk off their job on June 1, hitting the Brazilian miner's production. The five-year agreement, posted on the United... 

Ivanhoe’s Kamoa mine nears steady-state production

By: Donna Slater     Updated 7 hours ago TSX-listed Canadian mining company Ivanhoe Mines reports that copper production at its Kamoa-Kakula mine, in the Democratic Republic of Congo, has steadily increased since hot commissioning started in May, exceeding 500 t/day towards the end of July. Production is nearing the Phase 1... 

Blue Rhino Capital completes acquisition of Zebediela Nickel Company

By: Donna Slater     Updated 7 hours ago Aim-listed explorer and developer URU Metals reports that Blue Rhino Capital has completed the acquisition of the Zebediela Nickel Company – a wholly-owned subsidiary of URU. Blue Rhino has now changed its name to Zeb Nickel and will trade under the new Aim ticker symbol ZBNI upon resumption of... 

CATL's new sodium ion battery to help ease lithium shortages

By: Reuters     3rd August 2021 The development of a new sodium-ion battery by Chinese battery giant CATL is expected in the coming years to relieve pressure on lithium supplies, which are forecast to see shortages as early as 2022. As the world seeks to cut carbon emissions, partly by ramping up electric vehicle (EV) output,... 

Soaring aluminum drives up cost of everything from beer to foil

By: Bloomberg     3rd August 2021 For consumers and economists hoping commodities inflation will soon subside, the aluminum market delivered some discouraging news on Monday. The world’s second-largest brewer, Heineken, said the rising costs of freight and the metal used in beer cans will have a “material effect” on profit next... 

Aeris commits to Tritton growth and Cracow exploration

By: Esmarie Iannucci     3rd August 2021 Copper/gold miner Aeris Resources will spend A$50-million in 2022 to develop three new production sources at its Tritton mine, in New South Wales, to extend the mine life. Since starting operations in 2005, the Tritton underground mine has been the mainstay source of ore feed for the processing... 

BHP to take expansion decision at Mt Keith

By: Esmarie Iannucci     3rd August 2021 Mining major BHP is readying to take a final investment decision on the expansion at its Mt Keith concentrator, in Western Australia, at the end of the financial year. BHP Nickel West asset president Eduard Haegel told delegates at the Diggers & Dealers conference, in Kalgoorlie, that the... 

Image shows BHP's logo.

Copper boom has a top zinc miner scouring for red-metal assets

By: Bloomberg     2nd August 2021 Brazilian conglomerate Votorantim is on the prowl for copper assets as demand for the metal used in wiring is set to take off in the clean energy transition. The group’s Nexa Resources unit -- the world’s fourth-largest zinc producer -- wants to increase exposure to copper and is evaluating... 

Copper boom has a top zinc miner scouring for red-metal assets

Tertiary’s subsidiary looks to acquire Zambian copper prospects

By: Tasneem Bulbulia     2nd August 2021 Aim-listed Tertiary Minerals announces that its subsidiary Luangwa Minerals has entered into an option agreement with Mwashia Resources to acquire up to a 90% joint venture interest in five large exploration licences in Zambia considered prospective for copper. The agreement covers exploration... 

Orion inks Okiep deal to expand copper reach

By: Donna Slater     2nd August 2021 JSE- and ASX-listed diversified metal explorer and developer Orion Minerals has exercised its exclusive option to acquire a controlling interest in the majority of the properties comprising the Okiep copper project (OCP), in the Northern Cape. In addition to the OCP option acquisition, Orion has... 

Venturex goes underground, changes name

By: Esmarie Iannucci     2nd August 2021 ASX-listed Venturex Resources on Monday unveiled a rebrand, with the company’s base metal assets now to be supported by an underground services arm. MD Bill Beament used the Diggers & Dealers forum to unveil the rebrand, with Venturex now to be called Develop. 

An image of Bill Beament
Bill Beament

Codelco lifts copper output in boost to tight market

By: Bloomberg     2nd August 2021 Codelco’s sales surged last quarter as the world’s biggest copper supplier ramped up production just as rebounding economies sent prices of the metal to record highs. The State-owned producer has navigated pandemic restrictions in Chile better than some of its private-sector rivals this year,... 

Codelco lifts copper output in boost to tight market

IGO open to more acquisitions

By: Esmarie Iannucci     2nd August 2021 ASX-listed Independence Group (IGO) is still open to nickel, copper and cobalt acquisitions, MD and CEO Peter Bradford said on Monday. Speaking on the sidelines of the Diggers & Dealers conference, he said that the company would evaluate potential acquisition opportunities on a range of... 

From miners to big oil, the great commodity cash machine is back

By: Bloomberg     2nd August 2021 Just over five years ago Anglo American was in deep trouble. The natural resources giant, beset by a collapse in commodity prices, scrapped its dividend and announced plans to close mines and cut thousands of workers. Amid talk of an emergency capital raise, its market value fell to less than... 

An image of Shell CEO Ben van Beurden
Shell CEO Ben van Beurden

Top copper mine moves closer to strike as workers snub offer

By: Bloomberg     2nd August 2021 Workers at the world’s biggest copper mine voted to strike, overwhelmingly rejecting owner BHP Group’s final wage offer, in a move that will stoke concerns over global supplies of the metal. In voting this week, 99.5% of 2,175 members of the main union at Escondida choose to pressure BHP into... 

An image of an opencast copper mine in Chile.
The Escondida mine, in Chile.

Fledgling Peru govt seeks 'new deal' with miners - Minister

By: Reuters     2nd August 2021 Peru will seek "a new deal" with its all-important mining sector by providing incentives for projects with "social profitability" in the world's No. 2 copper producer, new Energy and Mining Minister Ivan Merino told Reuters. In his first interview since becoming Minister on Thursday, he said... 

Poseidon sets A$25m raising target

By: Esmarie Iannucci     2nd August 2021 Nickel developer Poseidon Nickel on Monday unveiled a A$25-million capital raise to fund the start of operations at its Black Swan project, in Western Australia. The ASX-listed company has received commitments to place 200-million new shares, at a price of 11c each, to existing and new... 

Glencore takes a stake in copper junior Hot Chili

By: Esmarie Iannucci     2nd August 2021 Diversified major Glencore has taken a 9.99% stake in ASX-listed junior Hot Chili, investing A$14.4-million into the copper developer. Glencore will have the right to appoint a director to the Hot Chili board, and to appoint members to a technical steering committee to advise on operational... 

An image showing exploration work.

Russia mulls pegging tax on mining firms to global metals prices - Interfax

By: Reuters     30th July 2021 Russia is considering pegging a mineral extraction tax (MET) levied on its metals producers to the global price of their products from 2022, the Interfax news agency reported on Friday, citing Deputy Finance Minister Alexei Sazanov. Moscow has been trying to protect its defence and construction... 

Sibanye advances battery metals strategy with acquisition of French nickel refinery  

By: Marleny Arnoldi     30th July 2021 Precious metals miner Sibanye-Stillwater has taken the next step in expanding its footprint in the battery metals sector by entering into an exclusive put option agreement with French mining group Eramet to acquire the Sandouville nickel hydrometallurgical processing facility, in France, for... 

Nickel ore

Turquoise Hill's profit beats on strong output, metal prices

By: Reuters     30th July 2021 Canadian miner Turquoise Hill Resources on Thursday beat estimates for second-quarter profit, bolstered by a strong output from the Oyu Tolgoi mine in Mongolia and higher prices of copper and gold. Prices of the red metal hit a record high in May, boosted by demand from electric-vehicle makers... 

An image of the Oyu Tolgoi openpit mine in Mongolia.

Gupta pays $25m to end long-running spat with Rio Tinto

By: Bloomberg     30th July 2021 Sanjeev Gupta has paid $25-million to Rio Tinto Group to settle a long-running dispute over the final payment for an aluminum smelter he bought from the mining giant in 2018. The deal was disclosed in the financial accounts of one of Gupta’s holding companies for the smelter, which stated that a... 

An image of Sanjeev Gupta
Sanjeev Gupta

Workers at Codelco's Andina copper mine turn down contract offer, gird for strike

By: Reuters     30th July 2021 Workers at Chile's Andina copper mine operated by state-owned Codelco turned down the firm's offer for a new collective contract on Thursday, paving the way for a potential strike at the facility, the union told Reuters. A total of 835 members of the Industrial Union of Labor Integration (SIIL)... 

Western Areas unveils ten-year production plans

By: Esmarie Iannucci     30th July 2021 Nickel miner Western Areas has unveiled production plans for the next decade. In the 2022 financial year, the miner expects to produce between 16 000 t and 17 000 t of nickel in concentrate at unit costs of between A$4.25/lb and A$4.65/lb. 

BHP adds solar panels to nickel ops

By: Esmarie Iannucci     30th July 2021 Diversified miner BHP on Friday reported that it would build two solar farms and a battery storage system to help power the Mt Keith and Leinster nickel operations. The Northern Goldfields solar project would include a 27.4 MW solar farm at Mt Keith and a 10.7 MW solar farm and 10.1 MW battery... 

How eight entrepreneurs helped shape the South African economy

30th July 2021 In this exploration of eight famous, and not so famous, South African entrepreneurs, economic historian Stefan Schirmer celebrates the dynamism, tenacity and ingenuity of these individuals, while delving into the complexities of building successful enterprises in a society so deeply scarred by... 

How eight entrepreneurs helped shape the South African economy

Anglo on trajectory towards becoming minerals solutions provider  

By: Martin Creamer     29th July 2021 Diversified mining and marketing company Anglo American, which shot the lights out on Thursday with the presentation of an all-time record set of half-year results, is on its way to becoming a minerals solutions provider rather than a digger of holes. The London- and Johannesburg-listed Anglo is... 

Picture for presentation of results July 2021
Anglo American results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

New CEO to lead North Wales copper/zinc mine to production

By: Mariaan Webb     29th July 2021 London-listed Anglesey Mining, which is developing a copper/zinc deposit in North Wales, has appointed a new CEO, who will be tasked with moving the Parys Mountain project towards production and raising the funds needed to do so. The company on Thursday announced the appointed of Jo Battershill... 

A drilling rig operating in North Wales

World-beating Anglo reports record half-year earnings of $12.1bn 

By: Martin Creamer     29th July 2021 Diversified mining company Anglo American on Thursday reported a record half-year financial performance in its position as the best of the world’s top-five global mining companies. Anglo calculates that its elevated global position is poised to continue, assisted by its superior depth, breadth... 

Picture from Anglo American
Anglo American CEO Mark Cutifani

Red River posts solid quarter

By: Esmarie Iannucci     29th July 2021 ASX-listed Red River Resources has reported a solid quarter at its Thalanga base metals project, in Queensland. Copper production from Thalanga in the June quarter reached 3 565 t, up from the 3 068 t produced in the previous quarter, while zinc concentrate production decreased slightly from 6... 

Union at BHP's Escondida copper mine urges members to strike

By: Reuters     29th July 2021 The union at BHP Group's Escondida copper mine in Chile, the world's largest, on Wednesday urged its members to vote to strike, saying the company was attempting to impose its will and its contract offer was "insufficient". The powerful, 2 300-member union is set to vote on BHP's contract offer... 

An image of the Escondida pit.

Zinc delivers record quarter for New Century

By: Esmarie Iannucci     29th July 2021 Base metals miner New Century Resources has reported record sales for the quarter ended June, as zinc production increased and C1 costs declined. The ASX-listed miner on Thursday announced that zinc metal production for the June quarter reached 31 737 t, up 4% on the previous quarter, while C1... 

Power Metal exercises option to acquire Tati gold/nickel project in Botswana

By: Tasneem Bulbulia     28th July 2021 Aim-listed Power Metal Resources has exercised its option to acquire a 100% interest in two gold/nickel exploration licences located within the Tati Greenstone Belt, near Francistown, Botswana, through its local wholly owned operating subsidiary Power Metal Resources Botswana. "The Tati... 

Alphamin drilling programmes at Mpama North, South mines to provide ‘excellent synergies’

By: Simone Liedtke     28th July 2021 Tin miner Alphamin Resources has received additional high-grade assay results from its Mpama South exploration drilling programme, while simultaneously starting its life-of-mine extension drilling at the high-grade Mpama North mine, in the Democratic Republic of the Congo. Alphamin has, so far,... 

First Quantum shelves stake sale for Zambia copper mines

By: Reuters     28th July 2021 Canadian copper miner First Quantum Minerals has shelved plans to sell a stake in its Zambian copper mines, COO Tristan Pascall said on Wednesday. China’s Jiangxi Copper Co had been speculated as a potential suitor for minority interests in First Quantum’s Kansanshi and Sentinel mines.... 

First Quantum shelves stake sale for Zambia copper mines

Bluejay to sell Finnish assets to dedicated battery metals firm

By: Mariaan Webb     28th July 2021 Greenland-focused explorer and developer Bluejay Mining has announced the proposed sale of two projects in Finland to a dedicated battery metals group in which it will become a significant shareholder. Bluejay has signed a binding term-sheet and entered into a conditional agreement for the sale... 

Cobre Panama making good progress – First Quantum

By: Mariaan Webb     28th July 2021 The Cobre Panama copper and gold mine – one of Panama’s biggest ever investments – is making good progress following last year’s Covid-19-related production interruptions, Canadian miner First Quantum reported on Tuesday. The mine produced 81 8686 t of copper and 36 290 oz of gold in the second... 

Nova beats IGO expectations

By: Esmarie Iannucci     28th July 2021 Metals miner Independence Group (IGO) has reported a strong finish to its 2021 financial year, with the Nova base metals project, in Western Australia, delivering above expectations. During the quarter ended June, Nova produced 7 88 7 of nickel and 3 538 t of copper, taking full year production... 

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