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Base Metals News

Support needed for black owned downstream players

By: Cameron Mackay     Updated 29 minutes ago Black-owned businesses and industrialists in the local mining valves industry need better domestic coordination and support to protect them, while black industrialists who want to own and manage such businesses should be encouraged, says valves manufacturer Dynamic Fluid Control (DFC) CEO Tumi... 

Galileo enters into agreement to sell Star Zinc to Zambia-focused company

By: Donna Slater     4th March 2021 Zinc, copper and rare earths explorer Galileo Resources has entered into a conditional agreement with Siege Mining regarding the ceding of ownership, operation and participation in the Star Zinc project. For its part, Galileo will cede its ownership of the project for a consideration of $750... 

Green revolution gets more expensive as copper price surges

By: Bloomberg     4th March 2021 Look just beneath the surface of many of the technologies powering the energy transition and there’s a red metallic glint. Copper is a vital part of green infrastructure from grids to wind turbines, and a recent price surge threatens to make decarbonization more costly. Copper has doubled from... 

Green revolution gets more expensive as copper price surges

Ontario palladium/copper project's 'time has come', says Gen Mining chair

By: Mariaan Webb     4th March 2021 A new palladium and copper mine in Ontario, Canada, could be under construction next year, if permitting and financing for the C$665-million project proceed as planned. Toronto-listed Generation Mining (Gen Mining) on Wednesday announced the results of a feasibility study for the Marathon... 

Ontario palladium/copper project's 'time has come', says Gen Mining chair

Dundee’s Tsumeb smelter shutdown extended

By: Creamer Media Reporter      4th March 2021 The Tsumeb smelter shutdown in Namibia has been extended to 40 days, owing to Covid-19-related safety protocols, travel restrictions and an increase in the scope of maintenance work. The shutdown was initially expected to be 30 days, but with the extended timeline, would now return to full... 

Codelco to allow teleworking in post-coronavirus 'cultural change'

By: Reuters     4th March 2021 Chile's State-owned Codelco, the world's largest copper producer, said on Wednesday it would permanently incorporate teleworking into its shift schedule after months of experimenting with the model during the coronavirus pandemic. The sprawling mining company, which last year slashed personnel... 

The major challenge of the mining industry is the imperative of growth – Dr Motsepe  

By: Martin Creamer     3rd March 2021 The major challenge of the mining industry is the imperative of growth, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Wednesday, when the 25 000-employee ARM reported record financial results. “You’ve got to replace the orebody that you’re mining with an equally... 

The major challenge of the mining industry is the imperative of growth – Dr Motsepe
African Rainbow Minerals interim results report by Mining Weekly’s Martin Creamer: Video: Darlene Creamer.

Nornickel warns on output as two mines remain partly suspended

By: Reuters     3rd March 2021 Russia's Norilsk Nickel expects production losses as its two major mines remain partly suspended due to an ingress of water, CEO and top shareholder Vladimir Potanin said on Wednesday, adding that it would calculate the losses by March 9. Nornickel, the world's largest palladium producer and a... 

Nornickel warns on output as two mines remain partly suspended
Norilsk Nickel owner Vladimir Potanin

African Rainbow Minerals' earnings soar 134%, interim dividend declared

By: Martin Creamer     3rd March 2021 Despite Covid-19-related global economic challenges and uncertainty, African Rainbow Minerals (ARM) on Wednesday reported record headline earnings of R5 039-million for the six months to December 31. This represented a 134% increase compared with the corresponding of 2019 and was underpinned by... 

African Rainbow Minerals' earnings soar 134%, interim dividend declared
Photo by Creamer Media
African Rainbow Minerals executive chairperson Dr Patrice Motsepe

Mining magnets: Arctic island finds green power can be a curse

By: Reuters     3rd March 2021 In the tenth century, Erik the Red, a Viking from Iceland, was so impressed with the vegetation on another Arctic island he had found he called it "the green land". Today, it's Greenland's rocks that are attracting outsiders - superpowers riding a green revolution. The world's biggest island has... 

Mining magnets: Arctic island finds green power can be a curse
Greenland Minerals and Energy's Kvanefjeld

Codelco copper output jumps in January, Escondida dips

By: Reuters     3rd March 2021 Copper production at Chile's largest mines was mixed in January, as strong output at State mining giant Codelco was offset by weaker results at the huge Escondida mine, official figures released on Tuesday showed The State-run Chilean Copper Commission (Cochilco) reported that production by... 

Copper to stay tight on long path to new supply, top miner says

By: Bloomberg     3rd March 2021 One of the world’s biggest copper companies has good and bad news for buyers hit with the highest prices in almost a decade. On the bright side, prices are already well above the incentive level for new projects that would help ease the supply squeeze. Unfortunately, it can take twice as long to... 

Gold miner dividends trump copper counterparts – until 2022

By: Bloomberg     2nd March 2021 Gold bugs will be rewarded with richer dividend prospects than copper-company investors this year, though such perks may be short lived. Miners of the precious metal are expected to more than double dividends this year to outpace the 75% hike of copper producers, according to Bloomberg dividend... 

Major questions hang over true ESG impact of commodities used in clean energy sector

By: Donna Slater     2nd March 2021 The future of sustainable mining, and by association the continuing drive towards greener forms of energy production, in an ever eco-conscious environment, will be driven by the “true” environmental, social and corporate governance (ESG) components of critical minerals, law firm Fasken partner... 

Major questions hang over true ESG impact of commodities used in clean energy sector

Glencore's response to comments on Indigenous sacred sites

By: Creamer Media Reporter      2nd March 2021 Diversified mining and marketing company Glencore said on Tuesday that it had noted the comments made at an Australian parliamentary inquiry public hearing by the Aboriginal Areas Protection Authority (AAPA) in relation to the company's McArthur River Mine (MRM) . "We want to be very clear that... 

Glencore's response to comments on Indigenous sacred sites

Phoenix takes option on Newfoundland copper/zinc mine

By: Creamer Media Reporter      2nd March 2021 TSX-V-listed Phoenix Gold has entered into an option agreement to acquire a past producing copper and zinc mine in Newfoundland. The company entered into an agreement with WBN Prospecting to buy the York Harbour property, consisting of five mineral licences and 156 mineral claims totalling 3 900... 

11 apprehended for torching Limpopo mine offices

By: News24Wire      2nd March 2021 Eleven people have appeared in court following an attack at the Palabora Mining Company in Phalaborwa, Limpopo. They were apprehended on Friday night following violent protests in the area, police spokesperson Brigadier Motlafela Mojapelo said. 

To go electric, America needs more mines. Can it build them?

By: Reuters     2nd March 2021 Last September, in the arid hills of northern Nevada, a cluster of flowers found nowhere else on earth died mysteriously overnight. Conservationists were quick to suspect ioneer, an Australian firm that wants to mine the lithium that lies beneath the flowers for use in electric vehicle (EV)... 

To go electric, America needs more mines. Can it build them?
Looking over Rhyolite Ridge South Basin, where Australian firm ioneer is planning to mine lithium used in electric vehicle batteries.

US Forest Service withdraws environmental report for Rio's Arizona copper mine

By: Reuters     1st March 2021 The US Forest Service on Monday blocked a land swap sought by Rio Tinto in Arizona for its proposed Resolution Copper mine, dealing a serious blow to the project and a major win to Native American tribes. The agency reversed a decision made in the waning days of former President Donald Trump's... 

US Forest Service withdraws environmental report for Rio's Arizona copper mine

Combination with Freeport had a lot of logic - Barrick CEO

By: Reuters     1st March 2021 Barrick Gold CEO Mark Bristow said on Monday that a combination with copper miner Freeport McMoRan "had a lot of logic to it" even though a deal between the companies did not pan out. Freeport CEO Richard Adkerson told Reuters on Thursday he has no desire to combine Freeport with Barrick or... 

Combination with Freeport had a lot of logic - Barrick CEO
Mark Bristow

Nornickel operations chief to leave in management shake-up

By: Reuters     1st March 2021 Russian metals producer Norilsk Nickel's (Nornickel) COO Sergey Dyachenko is leaving the company as part of a management restructuring. The shake-up follows a number of environmental and industrial accidents at the world's largest producer of palladium and major producer of nickel. The company... 

Nornickel operations chief to leave in management shake-up
Sergey Dyachencko

Redstone raises cash for West Musgrave copper exploration

By: Marleny Arnoldi     1st March 2021 Precious metals developer Redstone Resources has successfully raised A$2.2-million through an oversubscribed private placement, at an issue price of 1.2c apiece. The directors of the ASX-listed company have also reserved the right to place a further A$325 000 at the issue price, subject to... 

Musk says nickel is 'biggest concern' for EV batteries

By: Bloomberg     1st March 2021 Elon Musk has had it with nickel. It’s scarce and expensive, so the chief executive officer of electric-carmaker Tesla tweeted last week that the company’s shifting some cars to a type of battery that uses iron instead. Musk has previously pleaded with miners to produce more nickel. Supplies... 

Musk says nickel is 'biggest concern' for EV batteries
Elon Musk

Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision  

By: Martin Creamer     1st March 2021 The surge of the hydrogen economy, the need to recycle, halving Scope 3 emissions through iron-ore-linked green steelmaking, assisting South Africa to create new industries, and becoming a one-stop material solutions provider, were among the issues discussed by Anglo American CEO Mark Cutifani in... 

Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision
Anglo American CEO Mark Cutifani interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Codelco reports bumper year for profits despite pandemic

By: Reuters     1st March 2021 Chile's Codelco, the world´s top copper producer, reported pre-tax profits of $2.078-billion in 2020 and said it had upped output from its own mines by 2% to 1.618-million tonnes, despite being forced to rely on skeleton crews for almost half the year amid strict measures aimed at curbing the... 

Vale bullish on metal prices, seeks to accelerate copper projects

By: Reuters     1st March 2021 Executives at Brazil's Vale, the world's second largest iron-ore producer, said premiums for the commodity were at a "unique moment" and that they were also confident regarding the trajectory of copper in 2021. In a conference call with analysts to discuss the company's 2020 financial results,... 

Vale bullish on metal prices, seeks to accelerate copper projects
Vale head of ferrous metals Marcello Spinelli

Fitch raises metals, mining price assumptions in line with returning demand, low inventories 

By: Donna Slater     26th February 2021 Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with that it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories. The agency’s revision of all iron-ore price... 

Fitch raises metals, mining price assumptions in line with returning demand, low inventories

Deep-South appoints consultancy to update Haib resource estimate

By: Donna Slater     26th February 2021 TSX-V-listed explorer and developer Deep-South Resources has appointed mining consultancy company the MSA Group of South Africa to produce an updated National Instrument (NI) 43-101 resource estimate for its 100%-owned advanced Haib copper project, in the south of Namibia. The report will follow... 

Indonesia says 'ready to fight' EU at WTO over nickel export curbs

By: Reuters     26th February 2021 Indonesia is "ready to fight" the European Union's challenge of the Southeast Asian country's ban on nickel ore exports at the World Trade Organisation, arguing the bloc's actions may hinder Indonesia's development plans, the Trade Minister said. Once the world's biggest exporter of nickel,... 

Army Corps accepts Pebble request for appeal

By: Creamer Media Reporter      26th February 2021 Toronto-listed Northern Dynasty said on Thursday that the US Army Corps of Engineers (USACE) had accepted Pebble Limited Partnership’s request to initiate an administrative appeal process with respect to southwest Alaska’s Pebble project. The USACE issued a negative ‘record of decision’ (ROD) in... 

Copper’s spike brings back supercycle-era fears of substitution

By: Bloomberg     26th February 2021 In the frenzy of copper’s record run a decade ago, manufacturers making wires and pipes rapidly went in search of cheaper substitutes, in a trend that left a lasting dent in demand. With prices spiking again, the allure of alternatives has never been greater. A rally above $9 000 a metric ton... 

Copper’s spike brings back supercycle-era fears of substitution

Peru's Southern Copper: global price rally spurring new projects

By: Reuters     26th February 2021 Peru's Southern Copper, one of the world's top copper producers, plans to push forward new and pending projects as demand from China and constrained supply helps propel a global price rally, an executive told Reuters on Thursday. Raul Jacob, the company's vice president for finance, said in an... 

Peru's Southern Copper: global price rally spurring new projects

Freeport eyes US expansions as Biden's EV plan boosts copper demand

By: Reuters     26th February 2021 Freeport-McMoRan is set to approve expansions at several of its US copper mines to capitalise on surging demand for the red metal as President Joe Biden moves to electrify the nation's automobiles and combat climate change, CEO Richard Adkerson told Reuters. The expansions would be a major bet... 

Freeport eyes US expansions as Biden's EV plan boosts copper demand
Freeport CEO Richard Adkerson

Deal for key metal in EV revolution brought bonanza for newcomer

By: Bloomberg     25th February 2021 A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks. The transaction and almost immediate resale of control of the assets to Eurasian Resources Group is the latest deal in... 

Anglo achieves resilient performance in a tough year 

By: Simone Liedtke     25th February 2021 As much of the world was tested to its limits by the Covid-19 pandemic during 2020, the resilience of diversified miner Anglo American's diversified business, along with strong metals prices in the latter months of the year, resulted in underlying earnings before interest, taxes, depreciation and... 

Anglo achieves resilient performance in a tough year
Anglo American CEO Mark Cutifani gives more insight into the effect of the Covid-19 pandemic and the company's full year results for 2020. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

How high can copper fly? This metals trader expects $12 000

By: Reuters     25th February 2021 Copper could surge above a record to $12 000 a ton in 18 months on new demand from green initiatives, a leading metals trader said, giving one of the most bullish forecasts yet for the metal. The bellwether material has already doubled since a nadir in March to reach a nine-year high, and is... 

Kazakhstan-focused miner KAZ sees earnings rise despite output dip

By: Reuters     25th February 2021 Kazakhstan-focused copper and gold miner KAZ Minerals reported on Thursday stronger annual earnings and lower debt, after rising commodity prices helped offset lower production. The London-listed miner said copper output, which dipped to 306 000 t in 2020 from 311 000 t in 2019, was expected to... 

Implats pursuing renewables, green hydrogen, exploration, carbon neutrality  

By: Martin Creamer     25th February 2021 Platinum group metals (PGMs) mining and marketing company Implats is pursuing green hydrogen, greenfield exploration and carbon neutrality, the company made clear during question time after presenting a stellar set of high-dividend-yielding interim financial results on Thursday, which cut debt by... 

Implats pursuing renewables, green hydrogen, exploration, carbon neutrality
Impala Platinum's Shaft 16 in Rustenburg
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