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Base Metals News

World’s rapid rate of change resulting in profound business disruptions, says Anglo CEO  

By: Martin Creamer     9th December 2022 The world changing at a rapid rate has resulted in profound disruptions to the business of Anglo American, CEO Duncan Wanblad told analysts and investors on Friday. Speaking during an update presentation covered by Mining Weekly, Wanblad said the London- and Johannesburg-listed diversified mining... 

EU agrees Chile alliance to boost access to green raw materials

By: Reuters     9th December 2022 The European Union and Chile struck a partnership on Friday that will liberalise more trade between the two and give EU companies greater access to raw materials such as lithium and copper that are key to the EU's green transition. The partnership, which includes cooperation on climate change,... 

Turquoise Hill's Friday vote on Rio Tinto takeover bid is hard to call

By: Reuters     9th December 2022 Shareholders in Canada's Turquoise Hill will on Friday vote on a Rio Tinto $3.3-billion takeover offer that aims to give the Anglo-Australian miner more control over a giant Mongolian copper mine. The deal is far from a slam dunk. Rio, which owns 51% of Turquoise Hill, has been keen to buy out... 

An image of a conveyor belt at the Oyu Tolgoi mine
The Oyu Tolgoi mine, in Mongolia

China’s JCHX buys half of Cordoba’s Alacran project for $100m

By: Mariaan Webb     9th December 2022 TSX-V-listed Cordoba Minerals has partnered with China’s JCHX Mining Management to jointly develop the Alacran project, which is set to be the biggest copper mine Colombia. JCHX, which is already a 19.9% shareholder in Cordoba, will buy a 50% ownership interest in CMH Colombia for $100-million.... 

China’s JCHX buys half of Cordoba’s Alacran project for $100m

Mincor to raise A$60m for nickel ambitions

By: Esmarie Iannucci     9th December 2022 Nickel miner Mincor Resources is targeting a A$60-million capital raise to accelerate underground development at its Northern Operations, and underground exploration and resource definition at its Cassini operations, both in Western Australia. The ASX- listed company will undertake a fully... 

Canada proposes overhauling foreign investment rules to tackle security risks

By: Reuters     9th December 2022 Canada on Wednesday proposed beefing up its foreign investment rules to give the government greater power to scrutinize and potentially block overseas deals that bring national security risks. The proposed amendments would be the biggest overhaul to the Investment Canada Act (ICA) since 2009 and... 

An image of Industry Minister Francois-Philippe Champagne
Industry Minister Francois-Philippe Champagne

Glencore in position to double copper output using fossil fuel cash flows 

By: Martin Creamer     8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... 

Glencore CEO Gary Nagle.
Glencore CEO Gary Nagle.

Glencore working on value accretive emission reduction 

By: Martin Creamer     8th December 2022 Over and above the carbon emission reduction that automatically results from declining coal assets, diversified mining and marketing company Glencore is working on reducing its Scope 1 and 2 emissions across its entire portfolio of assets in a manner that is largely value accretive or cost free.... 

Glencore industrial assets head Peter Freyberg.
Glencore industrial assets head Peter Freyberg.

Copper rises as Goldman predicts run to record highs

By: Reuters     8th December 2022 Copper rose on Thursday on hopes that an easing of coronavirus controls in top consumer China will increase demand, with Goldman Sachs predicting prices could reach a record high of $11 000 in a year. Benchmark copper CMCU3 on the London Metal Exchange (LME) was up 0.5% at $8 501.50 a tonne at... 

Colombia to create national mining company, 2022 royalties soar

By: Reuters     8th December 2022 Colombia is preparing to launch a national mining company, the president of the government's National Mining Association (ANM) said on Wednesday, adding that coal mining royalties during the year had more than doubled. The government of President Gustavo Petro has pledged to reform the mining... 

Vale looks to close deal with partner for base metals in H1

By: Reuters     8th December 2022 Brazilian mining company Vale is in advanced talks with possible partners for its new base metals investment vehicle and looks to have a deal concluded during the first half of 2023, CFO Gustavo Pimenta said on Wednesday. Pimenta told investors during a meeting at the New York Stock Exchange... 

Vale looks to close deal with partner for base metals in H1

Employee communication solution at Glencore copper/cobalt mine

By: Martin Creamer     8th December 2022 Diversified mining and marketing company Glencore on Thursday announced an innovative employee engagement solution to strengthen communication with employees at the Kamoto copper and cobalt mine in the Democratic Republic of Congo (DRC).  Kamoto, Vodacom Business and Standard Bank have partnered... 

Kamoto copper and cobalt mine in the Democratic Republic of Congo.
Kamoto copper and cobalt mine in the Democratic Republic of Congo.

Chile's environmental regulator files charges against Antofagasta Minerals

By: Reuters     8th December 2022 Chile's SMA environmental regulator on Wednesday said it had filed two charges against Antofagasta Minerals' Centinela copper deposit due to its impact on a water source and local wildlife. One charge, described as "very serious," was for not reporting or taking necessary actions to control and... 

Anglo invests $200m to accelerate zero emissions haulage solution 

By: Martin Creamer     7th December 2022 Diversified mining company Anglo American has signed a binding agreement with First Mode, the specialist engineering technology company it partnered to develop the nuGenTM technology. The agreement is intended to accelerate the commercialisation of the climate-friendly truck and includes Anglo... 

Nyrstar's Auby zinc plant on care and maintenance until further notice

By: Reuters     7th December 2022 Nyrstar has completed scheduled maintenance work at its Auby operation in Northern France, but the smelter will not resume zinc production due to challenging market conditions, the Belgium listed company said on its website. Nyrstar did not specify the challenges. "The plant will now be placed... 

Metal Tiger sells and buys Sandfire shares

By: Esmarie Iannucci     7th December 2022 ASX and Aim-listed Metal Tiger has generated A$6.9-million in proceeds from the sale of 1.3-million shares in fellow listed Sandfire Resources, at A$5.35 a share. The company said on Wednesday that it has used part of the proceeds of the share sale to take up its pre-emptive rights in the retail... 

Ring of Fire inks MoU with First Nation on nickel development

By: Creamer Media Reporter      7th December 2022 Exploration and development company Ring of Fire Metals (RoFM) has signed a memorandum of understanding with the Webequie First Nation outlining a framework for collaboration on proposed development in the Ring of Fire, in northern Ontario. The MOU details how the two parties will work together... 

Aussie miners to adjust portfolios in 2023 - KPMG

By: Esmarie Iannucci     7th December 2022 A survey conducted by advisory firm KPMG has revealed that a significant number of Australian mining companies would change their portfolio of products towards future-facing commodities in 2023. KPMG Australia’s national mining and metals leader Nick Harridge said the economic shift toward a... 

Glencore says this time is different for coming copper shortage

By: Bloomberg     6th December 2022 Glencore added its voice to a chorus of miners warning of coming copper shortages, arguing that a “huge deficit” is looming for the crucial industrial metal. CEO Gary Nagle said that while some people were assuming that the industry would lift supplies as it had in previous cycles to meet a... 

An image of Glencore CEO Gary Nagle
Glencore CEO Gary Nagle

Partnership formed for circular, recycled battery materials

By: Donna Slater     6th December 2022 Recycling technology and supply chain platform ACE Green Recycling (ACE) and diversified miner Glencore have entered into a long-term supply agreement for recycled lead, as well as key battery metal based end products from recycled lithium-ion batteries. This strategic partnership will help... 

ERG and Gécamines restart operations at Boss  

By: Creamer Media Reporter      6th December 2022 Diversified mining company Eurasian Resources Group (ERG) and its joint venture partner, Gécamines, have restarted copper and cobalt operations at Boss Mining, in the Democratic Republic of Congo (DRC). The phased restart will concentrate on processing historically mined fines over the next 16... 

ERG and Gécamines restart operations at Boss  

Lundin appoints Jack Lundin as president

By: Creamer Media Reporter      6th December 2022 Toronto-listed Lundin Mining has appointed Jack Lundin as president with immediate effect. Concurrently, Lundin has stepped down from the Canadian base metals company's board of directors. "We are excited to welcome Jack to the management team of Lundin Mining," commented CEO Peter Rockandel. 

Clough's collapse leaves more than $8bn in projects in limbo

By: Reuters     6th December 2022 More than $8-billion worth of gas, power, rail and mining projects across Australia, Mongolia and Papua New Guinea face delays following the collapse of engineering firm Clough on Monday. Projects that could be hit include the expansion of the Oyu Tolgoi copper mine in Mongolia, run by Rio Tinto,... 

The expansion of the Oyu Tolgoi copper mine may be affected by the collapse of Clough.
The expansion of the Oyu Tolgoi copper mine may be affected by the collapse of Clough.

Glencore’s new-mine taboo may finally end with Argentina copper

By: Bloomberg     6th December 2022 Glencore is moving closer to building a giant copper project in Argentina in a move that would reverse a long-held aversion to developing big new mines. Activity has recently increased at Glencore’s El Pachon copper deposit and it has been making new hires, according to people familiar with the... 

Glencore’s new-mine taboo may finally end with Argentina copper

AIC Mines makes a final play for Demetallica

By: Esmarie Iannucci     6th December 2022 ASX-listed AIC Mines will start the compulsory acquisition of the remaining shares in takeover target Demetallica after acquiring more than a 90% interest in the company. AIC Mines earlier this year launched a takeover offer for Demetallica, offering one of its own shares for every 1.5... 

Rio, Oz Minerals and Boliden partner on tailings

By: Esmarie Iannucci     6th December 2022 Diversified miner Rio Tinto, copper miner Oz Minerals and Swedish metals major Boliden will partner on an initiative to manage tailings. Under the umbrella of the Think & Act Differently (TAD) incubator initiative the three companies will fund and support innovators who are working to reimagine... 

AfriTin drilling returns best lithium grades yet

By: Marleny Arnoldi     5th December 2022 Aim-listed AfriTin Mining has announced five more drill holes’ results as part of a diamond- and reverse circulation drilling programme on the Uis mine, in Namibia, which focused on increasing confidence of existing lithium and tantalum mineralisation. The results of the outstanding 20 drill... 

Papua New Guinea PM Marape presses mining, energy giants to advance projects

By: Reuters     5th December 2022 Papua New Guinea Prime Minister James Marape on Monday urged mining investors to get on with developing their resources, pushing for more downstream processing in the country and more local employment. Marape said his goal is to expand the nation's economy to 200-billion kina ($55-billion) by... 

Copper hits 3-week high after more Chinese cities ease Covid curbs

By: Reuters     5th December 2022 Industrial metals rose on Monday, with copper scaling a three-week peak as a partial easing of Covid-19 restrictions in top metals consumer China raised hopes for a full reopening of the economy, with a weaker US dollar also lending support. Three-month copper on the London Metal Exchange CMCU3... 

Glencore pays DRC govt $180m in remedial efforts

By: Marleny Arnoldi     5th December 2022 Global diversified miner Glencore has reached an agreement with the Democratic Republic of Congo (DRC) covering all present and future claims arising from alleged acts of corruption by the group in the country between 2007 and 2018. This includes activities in certain group businesses that have... 

Alaska mining project CEO criticises US EPA veto suggestion

By: Reuters     5th December 2022 The top boss of a proposed Alaskan mine, which has been through a roller coaster of regulations for the past 15 years, called the recommendation that the US environmental agency should veto the project a "massive regulatory overreach". Mining waste from the Pebble Mine project, which has one of... 

Fire halts Nova operations - IGO

By: Esmarie Iannucci     5th December 2022 Battery minerals producer IGO has suspended operations at its Nova nickel project, in Western Australia, following a fire at the Zenith Energy-operated power station over the weekend. The ASX-listed company told shareholders on Monday that a fire damaged the 10 MW power station in the early... 

Rio completes Canadian hydropower project

By: Esmarie Iannucci     2nd December 2022 Diversified miner Rio Tinto has marked the end of the Kemano T2 hydropower project, in British Columbia (BC), with the commissioning of a second tunnel to carry water into the Kemano Powerhouse. The new, 16-km tunnel was filled up with water and produced its first megawatt of electricity in July... 

Critical minerals strategy open for debate

By: Esmarie Iannucci     2nd December 2022 The federal government has released a discussion paper and opened public consultation on the future of the critical minerals industry in Australia. Minister for Resources and Northern Australia Madeleine King said the consultations would inform the government’s new Critical Minerals Strategy and... 

Goro nickel mine faces increased regulation after tailings leak

By: Bloomberg     2nd December 2022  Authorities in New Caledonia imposed additional regulations that could limit production in the future at the Goro nickel mine -- one of the world’s largest deposits -- after a recent waste-dam leak. The company has dealt with the leak and significantly reduced water levels at the tailings dam,... 

Biden moves to bar mining waste in Alaska, blocking gold mine

By: Bloomberg     2nd December 2022 The Biden administration proposed a ban on waste disposal that would thwart a long-planned gold and copper mine in Alaska, citing the potential harm to the area’s thriving sockeye salmon industry. The Environmental Protection Agency issued a formal recommendation Thursday to bar the disposal of... 

Construction company contributes to DRC mine accommodation

By: Cameron Mackay     2nd December 2022 South African construction company Moladi has supplied its removable, reusable, recyclable and lightweight plastic formwork mould construction system for miner Ivanhoe Mines’ Kamoa copper mine, in Kolwezi in the Democratic Republic of Congo (DRC). The plastic injection-moulded panel formwork... 

Image of accommodation on mine
BENEFICIAL CONSTRUCTION Moladi links with local communities so they can participate in the construction process enhancing job creation and skills development

In Peru's hills, an artisanal miner boom frustrates Big Copper's plans

By: Reuters     1st December 2022 In the hills of Tapairihua in Peru's Andes, Samuel Retamozo and other artisanal miners have found a rich seam of copper on their indigenous community's land. Armed with temporary government permits, they started exploiting it earlier this year. There's just one problem - the seam is within the... 

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