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Base Metals News

Australian resources still abundant - AIMR

By: Esmarie Iannucci     15th March 2021 The latest edition of Australia’s 'Identified Mineral Resources' (AIMR) report has reaffirmed Australia position as one of the world’s top producers of key critical minerals. Minister for Resources, Water and Northern Australia Keith Pitt at the end of last week said that Geoscience Australia’s... 

Trafigura CEO expects 10Mt supply deficit in copper market by 2030

By: Reuters     12th March 2021 Global commodities trader Trafigura sees a significant supply deficit in the copper market and a prolonged high-price cycle, its chief executive Jeremy Weir told the Fastmarkets Copper Seminar. "We see a significant deficit, possibly in the region of ten-million tonnes of additional copper is... 

Just clearing exploration backlog would be huge leap forward – Miller  

By: Martin Creamer     12th March 2021 Ahead of tackling policy issues, incremental ongoing effort must be prioritised to clear South Africa’s huge mineral exploration and mining rights backlog, says AmaranthCX director Paul Miller. The backlog currently stands at more than 5 000 unprocessed exploration applications and  235... 

Just clearing exploration backlog would be huge leap forward – Miller
AmaranthCX director Paul Miller talks exploration to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Glencore copper mine in Peru suspends operations over community blockade

By: Reuters     12th March 2021 Antapaccay copper mine in Peru, controlled by Glencore, on Thursday announced the suspension of operations due to a road blockade by local communities, said the miner in a statement. The mine near the city of Espinar in the Cusco region is the sixth largest copper producer in Peru, accounting... 

Canada targets 31 critical minerals for domestic production

By: Mariaan Webb     12th March 2021 Natural Resources Minister Seamus O’Regan has announced the release of a Canadian critical minerals list, signalling to investors where the country’s focus will be in the global race to shore up supply of minerals that will drive the transition towards a low-carbon future. The list, announced... 

Canada targets 31 critical minerals for domestic production
Canadian Natural Resources Minister Seamus O'Regan

Copper wobbles mask ongoing demand strength, top supplier says

By: Bloomberg     11th March 2021 The official overseeing the world’s biggest copper industry isn’t losing any sleep over the recent pullback in prices, saying the underlying trend of rising demand remains intact despite hard-to-read daily market gyrations. Copper surged to the highest in almost a decade last month on strong... 

Copper wobbles mask ongoing demand strength, top supplier says

Green metals hunt draws world’s biggest miner to frozen tundra

By: Bloomberg     11th March 2021 BHP Group is moving its exploration headquarters to Toronto in the latest move by the world’s top miner to focus its growth pipeline on future-facing minerals such as copper and nickel. The switch to Canada’s most populous city comes after BHP last August entered a partnership with Midland... 

Green metals hunt draws world’s biggest miner to frozen tundra
BHP chief technical officer Laura Tyler

Ontario seeks to capitalise on growing demand for critical minerals

By: Mariaan Webb     11th March 2021 The Ontario government is developing its first-ever critical minerals strategy to help generate investment, increase the province's competitiveness in the global market, and support its transition to a low-carbon economy. Announcing the initiative at the Prospectors and Developers Association’s... 

Ontario seeks to capitalise on growing demand for critical minerals

$7.7bn worth of M&A deals inked in the fourth quarter of 2020

By: Simone Liedtke     10th March 2021 Metals and mining industry cross border merger and acquisition (M&A) deals worth $7.7-billion were announced in the fourth quarter of 2020.  Nova Resources led the pack with its almost $2.4-billion acquisition of Kaz Minerals, GlobalData’s deals database shows. In a statement on March 10, the... 

Copper prices to hit record high in next 12 months, China's Maike says

By: Reuters     10th March 2021 Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China's clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in... 

Copper prices to hit record high in next 12 months, China's Maike says

Nornickel coughs up $2bn for fuel spill

By: Creamer Media Reporter      10th March 2021 Norilsk-Taimyr Energy Company, a Nornickel subsidiary, has made 146.2-billion roubles' (about $2-billion) worth of payments for damage caused to the environment as a result of a May 2020 diesel spill at Norilsk's combined heat and power plant. Nornickel has provided the funds for its... 

Nornickel coughs up $2bn for fuel spill

ZCCM to garner shareholder approval for Mopani takeover on March 30

By: Marleny Arnoldi     10th March 2021 Zambia’s mining investment arm ZCCM Investment Holdings will hold an extraordinary general meeting on March 30 for shareholders to vote on the company’s intended acquisition of Mopani Copper Mines. ZCCM in December announced it interest in acquiring 90% of Mopani’s issued shares from Carlisa... 

Venturex advances work at Sulphur Springs

By: Esmarie Iannucci     10th March 2021 Junior Venturex Resources is readying to start a number of work streams at its Sulphur Springs copper/zinc project, in Western Australia, in a bid to advance the project to a final investment decision. A 2018 definitive feasibility study estimated that the Sulphur Springs project would require a... 

Western Areas completes A$85m placement

By: Esmarie Iannucci     10th March 2021 Nickel miner Western Areas has completed its A$85-million capital raise, receiving strong support from existing and new investors. The company earlier this week announced plans for the capital raise, priced at A$2.15 a share, to fund the development of its Odysseus project, and to fund... 

Peel raises cash to take South Cobar to FID

By: Esmarie Iannucci     10th March 2021 ASX-listed Peel Mining is hoping to raise up to A$32.2-million to allow a development decision on its South Cobar copper project, in New South Wales. The company on Wednesday told shareholders that it has received firm commitments from institutional, sophisticated and professional investors for... 

Commissioning starts at Plomosas

By: Esmarie Iannucci     10th March 2021 Commissioning activities have started at the Plomosas processing plant, in Mexico. ASX-listed Consolidated Zinc on Wednesday reported that the mill and wet end o the plant would be commissioned from March 13, adding that a short commissioning period was expected. 

Workers at Antofagasta's Los Pelambres reject contract offer

By: Reuters     10th March 2021 Workers at Antofagasta's Los Pelambres copper mine in Chile on Tuesday voted to reject the company's latest contract offer, paving the way for a strike, a union spokesman told Reuters. Of the union affiliates, 98.5% voted to reject the offer on a new contract for the next 36 months. The present... 

Energy Secretary Granholm says US needs to produce more EV minerals

By: Reuters     10th March 2021 US Secretary of Energy Jennifer Granholm on Tuesday said the United States needs to boost domestic production of the minerals used to make electric vehicles, so long as it is done sustainably. The United States has been trying to wean its automobile supply chain off of China and other countries... 

Energy Secretary Granholm says US needs to produce more EV minerals
US Secretary of Energy Jennifer Granholm

Peru Mines Minister predicts record copper output for 2021

By: Reuters     9th March 2021 Peru's copper output could hit a record 2.5-million tonnes in 2021, well over the 2.15-million tonnes produced last year, Energy and Mines Minister Jaime Gálvez said on Tuesday. Gálvez said recent mine expansions would help the world's No. 2 copper producer boost output, as well as the opening... 

Nornickel schedule for mine restarts to be considered by March 16

By: Reuters     9th March 2021 Russia's Norilsk Nickel on Tuesday said it will consider a recovery schedule for its two main mines, where operations remain partly suspended because of a continuing inflow of groundwater, by March 16. Nornickel, the world's largest palladium producer and a leading nickel producer, partly... 

Nornickel schedule for mine restarts to be considered by March 16

Thakadu commissions nickel sulphate refinery

By: Marleny Arnoldi     9th March 2021 High-purity battery raw materials supplier Thakadu has started production at its $20-million nickel sulphate refinery in the North West province of South Africa. This puts Africa on the map as a supplier of battery-grade product to the growing global market for electric mobility and stationary... 

Thakadu commissions nickel sulphate refinery
Thakadu's nickel sulphate refinery

Canada positioning for post-Covid-19 recovery with critical minerals push – O’Regan

By: Donna Slater     9th March 2021 Canada is using its measures to recover from the Covid-19 pandemic to position itself as a haven for new technology and battery minerals, boasting a wealth of such minerals found in few other places around the globe, said Natural Resources Minister Seamus O’Regan. He gave the keynote address at... 

Canada positioning for post-Covid-19 recovery with critical minerals push – O’Regan
Natural Resources Minister Seamus O'Regan addressing the virtual PDAC 2021.

Capstone reports Cozamin fatality

By: Creamer Media Reporter      9th March 2021 A contractor employee died at the Cozamin mine, in Mexico, on Sunday, following an underground accident. Toronto-listed Capstone Mining said the contractor employee was pinned by a rockfall from the drill face. He was treated by the site emergency response team and transported to Zacatecas... 

Middle Island to spin out copper assets

By: Esmarie Iannucci     9th March 2021 Gold developer Middle Island Resources will seek shareholder approval for the demerger and an initial public offering (IPO) on the ASX of its wholly owned subsidiary Barkly Operations (BOPL). BOPL is the holder of the Barkly copper/gold project, in the Northern Territory, which comprises 12... 

Western Areas looks to raise A$100m

By: Esmarie Iannucci     9th March 2021 Nickel miner Western Areas on Tuesday announced plans for a A$100-million capital raise to fund the development of its Odysseus project, and to fund exploration and organic growth projects. The company told shareholders that it would conduct a fully underwritten institutional placement to... 

Western Areas looks to raise A$100m

Turquoise Hill beats profit estimates on higher copper, gold production

By: Reuters     9th March 2021 Canada's Turquoise Hill Resources posted a surprise rise in quarterly profit on Monday, helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia. The results come a week after CEO Ulf Quellmann resigned amid a protracted dispute between the company and its top... 

AfriTin’s output steadily climbs to 473 t

By: Marleny Arnoldi     8th March 2021 Aim-listed AfriTin Mining’s total production for the 2021 financial year, ended February 28, amounted to 473 t of tin concentrate from the Uis tin mine, in Namibia. Total production was supported by a strong production of 194.5 t in the last quarter, which was a 28% quarterly increase in output... 

Phoenix Copper raises cash for Empire starter project

By: Creamer Media Reporter      8th March 2021 London-listed base and precious metals explorer and developer Phoenix Copper will raise £16.45-million to continue development of the openpit ‘starter’ project at its Empire mine, in Idaho. The company raised £12.30-million in aggregate before costs through the placing of 35.13-million shares at... 

Norsk Hydro strikes $1.6bn deal to sell assets to KPS

By: Bloomberg     8th March 2021 Norsk Hydro, one of the world’s largest aluminum producers, is selling its rolling business to private equity firm KPS Capital Partners in the hope of improving profitability. Hydro will sell the operations, which include seven plants and about 5 000 employees, to KPS for an enterprise value of... 

New Caledonia agrees to Vale nickel mine sale, Tesla to be partner

By: Reuters     8th March 2021 Political leaders in New Caledonia have agreed new terms for the sale of Vale’s nickel business, including a majority stakeholding for local interests, seeking to resolve unrest over the planned sale. The deal signed by pro-independence and loyalist leaders in the French Pacific territory also... 

New Caledonia agrees to Vale nickel mine sale, Tesla to be partner

Activist investor Pentwater takes aim at Turquoise, Rio boards over CEO exit

By: Reuters     8th March 2021 Activist investor Pentwater Capital Management on Friday condemned the surprise resignation of Turquoise Hill Resources' CEO following pressure from the Canadian miner's top shareholder Rio Tinto. Turquoise Hill said on Thursday Ulf Quelmann resigned, effective March 3, after Rio said it would... 

Activist investor Pentwater takes aim at Turquoise, Rio boards over CEO exit

Mines anywhere, everywhere can go green – Hydrogen Optimized 

By: Martin Creamer     8th March 2021 Owing to the ubiquity of the world’s sun and the wind, all mines have the opportunity to generate their own green electricity no matter where they are located in the world, Hydrogen Optimized CEO Andrew T Stuart emphasised during last week’s Fasken online panel discussion on hydrogen. In this... 

Mines anywhere, everywhere can go green – Hydrogen Optimized
Photo by Creamer Media
Fasken panel that discussed hydrogen.

World’s top nickel producer sets out end-to-end battery ambition

By: Bloomberg     5th March 2021 Indonesia laid down its plans to have a complete battery production line onshore, with a state-owned holding firm to be set up by June. The country has drafted an “end-to-end development” plan that would see four state firms supplying nickel ore, processing nickel sulphate and cobalt sulphate,... 

Teck-backed TransLink study shows copper kills bacteria on high-touch surfaces

By: Creamer Media Reporter      5th March 2021 Results from the TransLink study, funded by diversified mining major Teck Resources, show that copper is effective at killing bacteria on high-touch transit surfaces. Based on sample-testing performed on transit and in a lab, the trial concludes that select copper products on transit are durable... 

Rock and heavy metal: winners emerge in energy transition

By: Reuters     5th March 2021 Investors in metals and mineral extraction are poised to see their fortunes grow as the race to cut carbon emissions requires massive investment in commodities other than oil and gas. As world economies shift to more electrification and away from fossil fuels to reach net-zero carbon emissions by... 

Seafloor mining hopeful DeepGreen to merge with ESG-minded SPAC

By: Mariaan Webb     5th March 2021 DeepGreen, a Canadian developer of battery metals from seafloor polymetallic nodules in the Pacific Ocean, has announced its planned listing through a merger with NYSE-listed Sustainable Opportunities Acquisition Corp (SOAC). SOAC is a special purpose acquisition company (SPAC), focused on ESG,... 

Seafloor mining hopeful DeepGreen to merge with ESG-minded SPAC

Polish miner KGHM looking to sell two US copper assets - sources

By: Reuters     5th March 2021 Poland's state-run mining company, KGHM, plans to sell its Robinson and Carlota copper mines in the United States and reinvest the proceeds in its domestic operations, two banking sources told Reuters. KGHM, one of Europe's biggest copper and silver producers, became the owner of the US mines in... 

Polish miner KGHM looking to sell two US copper assets - sources

South Africa ‘unique’ circumstances could give it tech-minerals edge - 18

By: Simone Liedtke     5th March 2021 Amid continuing decarbonisation worldwide, the increased global demand for tech minerals (such as zinc, copper, tin and vanadium) presents South Africa’s mining regions with “a unique set of circumstances”, says dual-listed Orion Minerals CEO Errol Smart. He tells Engineering News & Mining Weekly... 

South Africa ‘unique’ circumstances could give it tech-minerals edge - 18
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