R/€ = 19.25 Change: -0.10
R/$ = 17.01 Change: -0.01
Au 1783.90 $/oz Change: 8.60
Pt 828.87 $/oz Change: 13.82

Base Metals News

Group Eleven intersects its ‘best-ever mineralisation’

By: Donna Slater     Updated 3 hours ago Vancouver-headquartered zinc explorer Group Eleven’s share price surged nearly 40% on Monday, as the company announced its best-ever mineralisation at the PG West project in Ireland. The company intersected 10.3 m of 14.6% zinc, 5% lead (19.6% combined) and 43 g/t silver during its drilling... 

Ivanhoe speeds ahead with Kakula underground, plant development

By: Marleny Arnoldi     Updated 3 hours ago TSX-listed Ivanhoe Mines continues to progress ahead of schedule with underground development of the Kakula copper mine, in the Democratic Republic of Congo (DRC). The company, together with its joint venture (JV) partner Zijin Mining Group, has completed more than 17 km of underground... 

Power Metal raises £1m to accelerate exploration

By: Schalk Burger     Updated 3 hours ago Aim-listed metals exploration and development company Power Metal Resources has raised £1-million to accelerate exploration across its portfolio of projects and to commercialise select project interests. The funds raised will increase the available working capital (cash and listed financial... 

Minerals Council regrets delay of 2018 Mining Charter review 

By: Martin Creamer     Updated 3 hours ago Minerals Council South Africa on Monday expressed regret that the finalisation of the review of the contested elements of the 2018 Mining Charter had been delayed following a judgement of the full bench of the High Court in Pretoria ordering that a number of other parties be joined to the action.... 

Minerals Council regrets delay of 2018 Mining Charter review
Photo by Creamer Media
Minerals Council South Africa.

Copper poised to maintain upward price trajectory, says ERG CEO

By: Simone Liedtke     Updated 5 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... 

Commercial production declared at Century zinc mine

By: Esmarie Iannucci     6th July 2020 Zinc miner New Century Resources has declared commercial production at its Century zinc mine, in Queensland. “Despite the Covid-19 pandemic, operations at Century continue to ramp up and have again delivered record production in the June quarter. Century has now achieved seven consecutive... 

Mitsui Mining resumes operation of Peru's zinc mines

By: Reuters     6th July 2020 Japan's Mitsui Mining and Smelting said on Monday its two zinc mines in Peru resumed operations on July 2 after a closure of more than three months to limit the spread of the novel coronavirus. The company's Huanzala and Palka mines had been suspended since March 16 after the local government... 

More than 80 at Trevali mine positive for Covid

By: Mariaan Webb     6th July 2020 TSX-listed Trevali Mining now has more than 80 confirmed cases of Covid-19 at its Santander operation, which is nearly 30% of the total workforce of the mine in Peru. The company suspended operations at Santander in late June, after 19 workers tested positive for the virus during routine... 

More than 80 at Trevali mine positive for Covid
The Santander mine, in Peru.

Molyhil gets major project status

By: Esmarie Iannucci     6th July 2020 The government of the Northern Territory has awarded ASX-listed Thor Mining’s Molyhil tungsten/molybdenum project Major Project status. A 2018 definitive feasibility study estimated that the project would require a capital investment of A$69-million and would produce an annual 125 000 t/y of... 

Displacement continuing at copper mine where openpit give way is imminent 

By: Martin Creamer     6th July 2020 Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to... 

Displacement continuing at copper mine where openpit give way is imminent
Photo by Creamer Media
Konkola Copper Mines CEO Chris Sheppard.

Congo mines minister to meet with firms on confinement moratorium

By: Reuters     5th July 2020 Democratic Republic of Congo mines minister Willy Kitobo Samsoni plans to meet with mining companies to agree a moratorium on confining workers to mine sites due to the coronavirus. Civil society groups last month demanded an end to mandatory mine-site confinement policies put in place by copper... 

Power Metal progresses with Kisinka exploration

By: Donna Slater     3rd July 2020 Metal explorer and developer Power Metal Resources (Power Metal) has completed most elements of the follow-up programme at the Kisinka project in the Democratic Republic of Congo, including pitting and mapping. Laboratory analysis will, however, only be possible after air cargo routes reopen.  

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Chile copper production at risk as coronavirus bites

By: Reuters     3rd July 2020 Chile's vaunted copper industry is nearing a tipping point as coronavirus explodes across the South American nation, mine workers and analysts say, laying bare the hidden costs of policies that have until now salvaged its output of the red metal. Since early April leading miners, including... 

Chile copper production at risk as coronavirus bites

Vedanta's Zambia copper unit warns part of Nchanga openpit mine about to collapse 

By: Reuters     3rd July 2020 Zambia's Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its openpit mine as a portion of the pit is about to collapse, the chief executive officer said late on Thursday. KCM predicted that part of the Nchanga Open Pit in Chingola in Zambia's... 

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Get going with galvanizing: new book for engineers from IZA

By: Shannon de Ryhove     3rd July 2020 The International Zinc Association (IZA) will launch its new publication, The Essentials of Galvanizing, during a webinar hosted by Creamer Media Contract Publishing on July 15, 2020. The publication offers the civil engineering and construction industry valuable insights into the importance of... 

Get going with galvanizing: new book for engineers from IZA

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Lithium feeling pandemic pinch

By: Theresa Bhowan     3rd July 2020 The lithium market is declining as a direct result of electric vehicle (EV) plans being pushed back and EV production plummeting, says international commodities consultancy Core Consultants. 

Lithium feeling pandemic pinch
ON HOLD South America contains 61% of global lithium reserves and is feeling the effects of the decline in the commodities performance

World top copper producer Chile keeps output steady in May even as coronavirus explodes

By: Reuters     2nd July 2020 World top copper producer Chile held its production of copper steady in May versus the previous year even as the coronavirus outbreak exploded in the South American nation, according to data released on Thursday by State copper agency Cochilco. The fast-spreading pandemic in Chile has rattled... 

World top copper producer Chile keeps output steady in May even as coronavirus explodes
Spence is a copper mine located in the Atacama desert, in the north of Chile.

Codelco warns more restrictions on copper mines would be 'catastrophic' - report

By: Reuters     2nd July 2020 Chile's State-run Codelco, the world´s top copper producer, warned on Thursday any move to ramp up restrictions on its mines amid the coronavirus outbreak would be "catastrophic" for the country, the company´s chief executive said in an interview in a local daily newspaper. CEO Octavio Araneda... 

Teck Namibia to potentially gain 26.9% interest in Deep-South

By: Tasneem Bulbulia     2nd July 2020 TSX-listed Deep-South Resources and Teck Namibia, a wholly owned subsidiary of Teck Resources, have agreed to amend the sale agreement of February 2017, whereby Deep-South acquired Teck’s interest in the Haib Copper project, in Namibia. The sale agreement stipulated that Deep-South make cash... 

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China's Chalco shuts down 10% of its alumina capacity

By: Reuters     2nd July 2020 Aluminum Corp of China, known as Chalco, said on Thursday it would implement "flexible production", a phrase used to refer to output cuts, at three alumina production lines accounting for about 10% of its total capacity. Chalco is the world's biggest supplier of alumina, the substance used to... 

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

Tritton beats full-year guidance

By: Esmarie Iannucci     2nd July 2020 The Tritton copper project, in New South Wales, has beaten production expectations for the 2020 financial year, ASX-listed Aeris Resources said on Thursday. The company noted that production for the full year reached 25 041 t, which was some 2% above the guidance of between 23 500 t and 24 500... 

Metals X looking for copper buyer

By: Esmarie Iannucci     2nd July 2020 ASX-listed Metals X has announced plans to divest of its entire copper asset portfolio, including the Nifty and Maroochydore copper projects, and the Paterson exploration project. Metals X on Thursday said that issues with shareholder APAC Resources Strategic Holdings, which demanded the removal... 

Metals X looking for copper buyer

BHP scales back Cerro Colorado copper mine

By: Mariaan Webb     1st July 2020 Global miner BHP is scaling back its operations at Cerro Colorado, in Chile, with resizing measures to be implemented over the next four months. These measures will result in a reduced headcount and the company has started discussions with employees and contractors. The adjusted mine plan will... 

BHP scales back Cerro Colorado copper mine
Photo by Flicker/Gabri Solera
Cerro Colorado

ELB’s delisting-linked offers send up share price

By: Martin Creamer     1st July 2020 The board of directors of ELB on Wednesday made delisting-linked offer to its shareholders, which saw its share price rise. By late afternoon, the JSE-listed company’s price had risen by 54.17% to R1.85 a share. The capital equipment and engineering solutions group proposed a transaction to... 

ELB’s delisting-linked offers send up share price
Photo by Creamer Media
Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Platinum group metals in pole position to benefit from global decarbonisation thrust
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kefi Minerals to change name, updates Tulu Kapi economics given higher gold price

By: Marleny Arnoldi     30th June 2020 Aim-listed Kefi Minerals has announced it will host its annual general meeting virtually on August 13. The meeting will discuss a name-change of the company to Kefi Gold and Copper, to reinforce the company’s mission in those metals, given the discoveries that the company has made in the last... 

Oriole raises £419 500 to further Cameroon exploration

By: Donna Slater     30th June 2020 West Africa-focused exploration company Oriole Resources has successfully raised £419 500 to support ongoing exploration at its projects in Cameroon, including moving the programme at Bibemi towards drill mobilisation later this year. It will also provide the company with general working... 

Crisis Group suggests DRC govt, miners zone land for artisanal mining

By: Marleny Arnoldi     30th June 2020 Transnational nonprofit organisation Crisis Group says tensions continue to build in the Democratic Republic of Congo’s (DRC’s) mining heartland between industrial and artisanal miners. The organisation highlights in its latest report, titled 'Mineral Concessions: Avoiding Conflict in DRC’s... 

Copper heads for best quarter since 2010 as supply worries mount

By: Bloomberg     29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... 

Copper heads for best quarter since 2010 as supply worries mount

Copper deposit discovery rate remains dismal, says S&P

By: Tasneem Bulbulia     29th June 2020 Of the nearly 1.08-billion tonnes of copper resources discovered since 1990, only 8% is contained in deposits discovered in the past decade, a report published by S&P Global Market Intelligence shows. The report outlines that 224 copper deposits have been discovered between 1990 and 2019 period,... 

House Democrats will call for 100% clean cars by 2035

By: Bloomberg     29th June 2020 House Democrats on Tuesday will issue an ambitious plan to combat climate change, a move intended to reassure their base of supporters but that’s sure to inflame opponents on the right. The proposal will be released at an event at the US Capitol with Speaker Nancy Pelosi and several other... 

Trident acquires royalty over Zambian copper mine

By: Schalk Burger     29th June 2020 Aim-listed Trident Resources has acquired a gross revenue royalty (GRR) over production from Moxico Resources' Mimbula copper mine, in Zambia, as well as over associated stockpiles, for $5-million in cash. Trident is entitled to royalty payments on production starting from July 1 and extending in... 

Zinc prices increase likely as global demand shock wanes, says Fitch Solutions

By: Donna Slater     29th June 2020 Zinc prices are likely to edge higher in the next three to six months, as the negative shock to global demand from the Covid-19 outbreak lessens, says financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research. Support for prices, it notes, will... 

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