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Base Metals News
Qld backs critical minerals hunt
By: Esmarie Iannucci Updated 1 hour 18 minutes ago Critical Mineral exploration has been the biggest winner in the latest round of funding under the Queensland government’s A$5-million exploration grants programme. In the latest Collaborative Exploration Initiative round, 25 projects across the state have been provided with up to A$250 000 each... →
Rio and First Quantum strike copper deal
By: Esmarie Iannucci Updated 1 hour 23 minutes ago Diversified major Rio Tinto has struck a joint venture (JV) agreement with First Quantum Minerals to partner on the development of the La Granja copper project in Peru. Under the proposed transaction, First Quantum will acquire a 55% stake in the project for $105-million, and commit to further... →
Copper 360 to deploy cluster mining model in the Northern Cape
By: Tasneem Bulbulia 30th March 2023 Emerging copper company Copper 360 will deploy a cluster mining model at its Northern Cape operation, updating predecessor Okiep Copper Company’s high-yielding model. Copper 360 holds more than 19 000 ha with 12 orebodies, including Rietberg, Jubilee, Homeep, Klondike, Wheal Julia North, Whyte's... →
Critical metals for low-carbon economy being studied across 12 universities 
By: Martin Creamer 30th March 2023 A consortium across a dozen South African universities has the spotlight on critical metals for a low-carbon future. At a time when the mining world is focused firmly on the availability of critical metals to arrest global temperature increases, South Africa’s Centre of Excellence for Integrated... →
BHP and Rio chiefs talk green metals in post-Covid China visits
By: Bloomberg 30th March 2023 Green metals are becoming a major focus for the bosses of the world’s top miners after visits to their biggest customers in China. BHP Group’s Mike Henry and Rio Tinto Group’s Jakob Stausholm both led company delegations to China this week, two of the highest profile names among a flow of global... →
Glencore makes strategic investment in Palladium One
By: Creamer Media Reporter 30th March 2023 Canadian exploration and development company Palladium One on Thursday announced a C$4.25-million private placement financing with a subsidiary of commodities major Glencore. Pursuant to the placement, Palladium would issue 28.35-million shares at C$0.15 each. →
LME launches sweeping plan to revive nickel contract
By: Reuters 30th March 2023 The London Metal Exchange (LME) on Thursday announced measures to revive its nickel contract after last year's trading chaos while also launching a consultation on moves to boost liquidity in electronic trading. The world's largest and oldest metals trading venue plans to work with China's... →
Anglo Asian plans four new mines in Azerbaijan over next five years
By: Mariaan Webb 30th March 2023 Azerbaijan-focused Anglo Asian on Thursday unveiled a strategic plan to transform into a mid-tier gold and copper producer, setting out plans to double its production over the next five years. The company forecasts production of between 50 000 and 54 000 gold-equivalent ounces (GEO) in 2023,... →
Australia risks losing pole position in critical minerals race
By: Reuters 30th March 2023 Australia is at risk of losing its head start in critical minerals processing because it has not yet laid down a national strategy, even as other governments are splashing out incentives to grab market share and bolster security. Supplier of nearly half of the world's lithium, Australia is also... →
US and EU near critical minerals accord to unlock US subsidies
By: Bloomberg 30th March 2023 The European Union and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA). The deal will likely be similar to an agreement the US signed with Japan this... →
Peru's Antamina mine life extension cost hiked to $2bn, CEO says
By: Reuters 30th March 2023 Peru's largest copper mine, Antamina, will spend $2-billion to extend the useful life of the deposit through 2036, up sharply from $1.6-billion previously planned, the company's CEO told Reuters on Wednesday. Antamina CEO Victor Gobitz said the new investment figure for Antamina, co-owned by... →
Sibanye tying up New Century strings
By: Esmarie Iannucci 30th March 2023 Suitor Sibanye-Stillwater Resources has started the compulsory acquisition of the remaining shares in takeover target New Century Resources after gaining a 90% interest in the ASX-listed company. Sibanye-Stillwater in February launched a A$1.10 a share takeover offer for Australian zinc miner... →
Mincor puts aside guidance
By: Esmarie Iannucci 30th March 2023 Nickel miner Mincor Resources on Thursday withdrew its production guidance released earlier this month, after failing to reach an agreement with mining major BHP to amend an existing offtake agreement. The company told shareholders that Mincor has been combining ores from its Northern and... →
Mining needs truth-and-reconciliation approach to ESG, says Rifle-Shot’s Naidoo
By: Martin Creamer 29th March 2023 Mining companies need to approach environmental, social and governance (ESG) principles on a truth and reconciliation footing and be honest about where they are on a scale of one to 10, says Rifle-Shot Performance business development director Dilley Naidoo. Naidoo, who spoke to Mining Weekly on... →
CAML in good position to grow through acquisition
By: Mariaan Webb 29th March 2023 Base metals miner Central Asia Metals Limited (CAML), which operates in Kazakhstan and North Macedonia, is continuing efforts to expand and CEO Nigel Robinson says the company is in a good position to grow through acquisition. Last year, the company appraised 40 opportunities, signed... →
Sandfire America appoints Greenidge CEO, names new CFO
By: Creamer Media Reporter 29th March 2023 The company behind the development of the Black Butte copper project in Montana has appointed mining executive Lincoln Greenidge as CEO, replacing Rob Scargill who has resigned. Greenidge joined Sandfire Resources America in January 2022 and served as CFO for the last year. →
SPC Nickel buys into camp-scale nickel/copper opportunity in Nunavut
By: Creamer Media Reporter 29th March 2023 TSX-V-listed SPC Nickel has entered into an option agreement with Bathurst Metals, giving it the right to acquire a 100% interest in the McGregor Lake and Speers Lake properties located within the Kitikmeot region of western Nunavut. Following this transaction, SPC Nickel will control nearly 650... →
Biden tees up a supply-chain rethink with challenge to China’s EVs
By: Bloomberg 29th March 2023 Seven months after President Joe Biden signed the Inflation Reduction Act into law, the magnitude of the challenge it will be for the US to loosen China’s grip on the electric vehicle supply chain — a key objective of the legislation — is coming into sharper relief. Ford, the top US car... →
Lundin weighs strategic partner for copper project in Argentina
By: Bloomberg 29th March 2023 Lundin Mining is in talks with prospective partners for a copper deposit in Argentina as the industry battles to meet demand for the wiring metal in the shift away from fossil fuels. As it seeks financing for the Josemaria project in San Juan province, Lundin could sell a majority stake to a... →
Mining necessary for green future - Minister
By: Esmarie Iannucci 29th March 2023 Federal Resources Minister Madeleine King has highlighted the significant role that the resources sector would play in global decarbonisation efforts, in a statement to Parliament. “In order to decarbonise, the world needs our resources industry and our critical minerals,” Minister King said. →
BHP partners with Chinese majors on copper chains
By: Esmarie Iannucci 29th March 2023 Diversified miner BHP will partner with two of China’s leading copper producers, China Copper and Daye Nonferrous, on the development of a more sustainable and responsible copper value chain. The three companies have signed a memorandum of understanding (MoU) to enable the parties to leverage... →
Platinum group metals can add million South African jobs plus R8-trillion to economy
By: Martin Creamer 28th March 2023 Collaborative marketing of platinum group metals (PGMs) has the potential to add a million more South African jobs and contribute R8-trillion more to the economy as the world greens and lowers carbon intensity. The combination of green hydrogen displacing natural gas and fuel cell electric... →
Atalaya’s Proyecto Masa Valverde wins environmental approval
By: Creamer Media Reporter 28th March 2023 The Proyecto Masa Valverde (PMV) project, in Spain, has received environmental approval, paving the way for Atalaya Mining to file for an exploitation permit to what could be an important satellite deposit in the Riotinto district. PMV consist of several volcanogenic massive sulphide-type... →
Generation finalises offtake term sheet with Glencore
By: Mariaan Webb 28th March 2023 Toronto-listed Generation Mining has finalised an offtake term sheet with diversified major and commodities trader Glencore for copper concentrate, containing copper, palladium, platinum, gold and silver, to be produced at its Marathon palladium/copper project, in Ontario. Glencore will buy an... →
Foran closes C$100m private placement
By: Creamer Media Reporter 28th March 2023 Exploration and development firm Foran Mining has raised C$100-million in a private placement, which it will use to advance its projects in Saskatchewan. The company offered 20.27-million shares of the company at an issue price of C$3.70 a share for gross proceeds of C$75-million, as well as... →
Palladium One makes new nickel/copper discovery
By: Mariaan Webb 28th March 2023 TSX-V-listed Palladium One has announced the discovery of a new high-grade nickel/copper zone, about 3.5 km south-west of the Smoke Lake Zone on the Tyko project, in Ontario. "The discovery of another high-grade nickel/copper zone at Tyko further supports our thesis that we have a significant... →
Lundin to buy majority stake in Caserones copper mine
By: Mariaan Webb 28th March 2023 Canadian firm Lundin Mining on Monday announced it would buy a majority stake in the Caserones copper mine for $950-mllion, solidifying its position as a meaningful copper producer at the time when the world is shifting to a lower carbon future. Lundin would buy a 51% stake from JX Nippon Mining... →
Indonesia nickel company Merdeka Battery Materials plans $580m IPO
By: Reuters 28th March 2023 Indonesian nickel company Merdeka Battery Materials, a unit of Merdeka Copper Gold plans to raise up to 8.745-trillion rupiah ($580.29-million) in an initial public offering (IPO) in April, a prospectus published on Tuesday showed. It will be the second nickel firm in Indonesia to go public... →
Trapped miners in east Congo tumble out of rubble intact in viral video
By: Reuters 28th March 2023 A video showing nine Congolese miners unexpectedly popping out of a collapsed gold mine and tumbling down a steep slope as onlookers cry out in joy has gone viral in Democratic Republic of Congo, a rare happy ending to an all-too-common story. Mining accidents are rife in the giant Central... →
Safeguard Mechanism changes concerning miners
By: Esmarie Iannucci 28th March 2023 The resources sector has expressed concerns over changes to the Safeguard Mechanism, warning that it would impact operations in Australia. The federal government this week struck an agreement with the Australian Greens to support the Safeguard Mechanism reforms through Parliament, in an effort... →
South Africa will overcome its rail and electricity problems, Menar MD predicts
By: Martin Creamer 27th March 2023 At the end of the day, South Africa will overcome its rail transport and electricity availability issues, and confidence in both Transnet and Eskom will be fully restored, Menar MD Vuslat Bayoglu predicts. “I’m confident that Transnet’s problems will be solved because South Africa’s got great... →
Anglo Asian sees potential for 25 000 t/y of copper from Garadag
By: Mariaan Webb 27th March 2023 London-listed Anglo Asian has defined significant quantities of copper at its Garadag deposit, in Azerbaijan, with the potential to meaningfully increase the company’s production profile. An initial assessment of data relating to the Garadag porphyry copper deposit confirmed the potential to... →
Western Copper attracts Mitsubishi's backing for Yukon copper project
By: Mariaan Webb 27th March 2023 Canadian firm Western Copper and Gold on Friday announced a strategic equity investment by Japanese group Mitsubishi Materials to advance the Casino project, in the Yukon Territory. Casino is a copper, gold, molybdenum and silver deposit, about 300 km from Whitehorse. The company is currently... →
Rusal plans further lawsuit against Potanin over Nornickel pact
By: Reuters 24th March 2023 Aluminium giant Rusal plans to bring a further lawsuit in London against Vladimir Potanin, CEO of Nornickel, court documents show, marking the latest flare-up in relations between two of Russia's biggest metal companies. Rusal wishes to "bring certain further claims" against Potanin and his... →
Kansanshi mine pledges nearly ZK7m for supply of piped water to community
By: Marleny Arnoldi 24th March 2023 Gold and base metals miner First Quantum Minerals had advised that its Zambian subsidiary Kansanshi Mining has signed a memorandum of understanding (MoU) with Zambian water utility the North Western Water Supply and Sanitation Company (NWWSSC) for the provision of piped water to the Mushitala... →
Ministers agree to coordinate critical minerals efforts
By: Esmarie Iannucci 24th March 2023 Australia’s federal, state and territory resources and mining ministers have agreed to coordinate efforts to support the development of Australia’s critical minerals sector following a critical minerals roundtable in Perth. Resources Minister Madeleine King said on Friday that the development of... →
LME finds no further 'irregularities' in warranted nickel
By: Reuters 24th March 2023 The London Metal Exchange (LME) said on Thursday it has no reason to believe any other LME-approved facility is affected by the "irregularities" found in nine nickel warrants last week at one LME-licensed warehouse. Last week, the LME cancelled the nine warrants - documents conferring ownership... →
WA opens investment platform for global investors
By: Esmarie Iannucci 24th March 2023 The Western Australian government is launching a new online platform that promotes investment-ready projects with a value above A$10-million. Launching with more than 35 projects that have a combined value of approximately $6 billion, WA Investments provides global audiences easy access to the... →
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