R/€ = 17.39 Change: 0.00
R/$ = 14.63 Change: -0.02
Au 1738.67 $/oz Change: -8.57
Pt 1195.70 $/oz Change: -20.30

Base Metals News

A thumbnail of world copper cuts

15th November 2001 The world’s major copper producers have begun seriously to curtail their output in a bid to counter weak demand and prop up prices, which have fallen to their lowest levels since 1987. 

Copper output cuts pave way for recovery

12th November 2001 A wave of output cuts by copper producers has so far had a limited impact on metal prices but is a key element in paving the way for an eventual market recovery when demand picks up, analysts said. 

Alaska copper-gold deal announced

8th November 2001 President and director of Northern Dynasty Minerals Bruce Youngman has announced that the company has acquired the rights to two options granted by Teck Cominco American Incorporated (Cominco) respecting its Pebble property in south-western Alaska. 

Pakistan copper listing delayed

7th November 2001 Plans to list Pakistan’s only copper-mine project on the Alternative Investment Market (AIM) this year are on hold until fighting ends in neighbouring Afghanistan, Mincor Resources said. 

China expected to raise copper output

6th November 2001 China’s main copper smelters are adhering to planned increased outputs this year despite news that major US producer Phelps Dodge is trimming production due to dismal prices, analysts said. 

Zambian copper mine plans to lift ouput

2nd November 2001 Zambia’s Konkola Copper Mines said it would increase copper production in 2002 by 20% from a projected figure of 240 000 tons this year despite a downturn in global prices. 

Decision soon on new Zambian treatment plant

1st November 2001 Canadian miner First Quantum is moving rapidly towards a decision to expand its treatment facilities at Zambia’s Bwana Mkubwa mine to 30 000 tons of copper cathode a year. 

Another zinc operation to close

1st November 2001 Canadian miner Hudson Bay Mining and Smelting said it will close its Ruttan zinc-and-copper mine in northern Manitoba next year because of low metal prices, a slowing global economy and a poor economic outlook. 

Concentrate deficit to soften copper-treatment costs

30th October 2001 Copper treatment and refining charges are likely to fall in the near term as the concentrate market enters a temporary deficit, said Tony Warwick-Ching, principal consultant: copper at CRU International. 

Oz backs new nickel project

26th October 2001 The Western Australian government intends spending A$18,4-million on roads, houses and an airport in an effort to persuade BHP Billiton to build a nickel-mine in the state. 

No sympathy strike yet at aluminium plants

26th October 2001 Mining company BHP Billiton said a threatened sympathy strike on Thursday by the National Union of Metalworkers of South Africa (Numsa) at its aluminium smelters and two manganese units had not started. 

Union calls off Mozal strike

23rd October 2001 Mozambique’s Metal Industry Workers’ Union (Sintime) said on Tuesday it will call off a strike at the 250 000 t/y Mozal aluminium smelter after the union and the Mozambique Trade Union (OTM) reached an agreement with management. 

Mozal mothballing report off the mark

22nd October 2001 A report of the imminent mothballing of BHP Billiton’s aluminium smelter in Mozambique and its nickel complex in Colombia appears to be way of the mark. 

15-shaft audit at Zambia copper mine

19th October 2001 Detailed technical audits have been carried out on the hoisting infrastructures at the Mopani Copper Mines in Zambia to help the owners increase production from the 15 shafts. 

Big Aussie aluminium shake up

18th October 2001 Talks between Alcoa and Australian miner WMC likely signal that Alcoa is poised to cement its dominant position in the world markets for aluminum and alumina, allowing it to both cut costs and boost earnings, analysts said on Wednesday. 

Legal status of aluminium strike questioned

18th October 2001 The National Union of Metalworkers of South Africa (Numsa) said it would launch industrial action at BHP Billiton’s Bayside and Hillside aluminium smelters from today. But BHP Billiton spokesperson Michael Campbell said Numsa had not given the company the legally-required seven-day formal... 

Algeria calls global bids for zinc-lead project

18th October 2001 Algeria issued a new international tender for the development of its Amizour zinc and lead project, which was to have been operated by Canadian mining firm Breakwater Resources. 

Konkola Deep project postponed

15th October 2001 The start of the Konkola Deep Mining Project had been deferred due to difficult market conditions and a lack of financing for the project, said Zambia Copper Investments (ZCI). 

New alumina refinery for Queensland

12th October 2001 The world’s third-largest mining company, Rio Tinto, will next week give final approval to build a $1,4-billion alumina refinery at Gladstone in Queensland State, the Australian Financial Review reported 

New IT system for a mine in Peru

12th October 2001 Mining giant BHP Billiton has installed Modular Mining Systems’ IntelliMine system at its Tintaya mine in Peru. 

Africa could win from aluminium migration

11th October 2001 Africa could be the beneficiary of a plan under consideration by Brazilian bauxite, alumina and aluminium company Vale do Rio Doce Alum 

Dale quits copper group

11th October 2001 Canadian miner First Quantum Minerals announced the resignation of Tom Dale from the position of CEO of Mopani Copper Mines. 

Copper technology accord

11th October 2001 The world’s second-largest copper producer, Phelps Dodge Corporation, and Placer Dome, announced that they have signed an agreement to further develop and commercialise proprietary technology for the extraction and recovery of copper, gold, silver and other coproducts from base-metal and... 

Huge resource upgrade at Congo copper project

10th October 2001 Canadian miner, First Quantum Minerals, has announced a 390% increase in the copper resource at its 85%-owned Lonshi copper deposit located in the Democratic Republic of Congo. 

Study on for another big Zambia project

5th October 2001 A full definitive study has been commissioned by Canadian company First Quantum Mineral to determine the feasibility of establishing a large low-cost openpit mine at Kansanshi, Zambia. 

Mozal workers face dismissal

4th October 2001 Mining and minerals group BHP-Billiton said 180 workers at Mozambique’s Mozal aluminium smelter would be fired after they embarked on an illegal strike. 

“Watershed” event on Copperbelt in DRC

1st October 2001 First Quantum Minerals has started open-pit mining operations at the Lonshi copper deposit located in the Democratic Republic of Congo (DRC), about 29 kilometres south-east of the Bwana Mkubwa SX-EW facility in Zambia. 

Chibuluma South mothballed

1st October 2001 As a result of the low copper price and a high costs of operations, the Chibuluma South project in Zambia has been placed on a care-and-maintenance basis by Metorex. 

Interest shown in liquidated zinc miner’s assets

1st October 2001 The world’s largest zinc producer, Pasminco, has received indications from Swiss miner Glencore International, and Canada’s Noranda and Tock Corporation that they may bid for the Century mine, the Australian company’s biggest asset. 

Japan takes zinc gap left by China

27th September 2001 Japanese refined zinc is gaining ground in Taiwan from market leader China, which appears reluctant to export as global prices languish, traders said. 

New Chile copper investment

26th September 2001 Encouraged by just-released results from a Chilean copper-gold discovery, Canadian base-metals group Noranda said it will go ahead with a $1- million private placement in small-cap Metallica Resources, which owns the property. 

Zinc price sinks world's biggest producer

25th September 2001 The world’s biggest integrated zinc and lead producer, Pasminco, has been placed under voluntary liquidation, due to the huge debts and a share price meltdown. 

‘Terror Tuesday’ will not hit copper sector

21st September 2001 While the outlook for the world of copper was already bleak, the events of ‘Terror Tuesday’ in the US early September, further complicate issues for the industry, a new study argues. 

Investor interest in DRC zinc project heats up

By: Martin Zhuwakinyu     21st September 2001 London-based America Mineral Fields International (AMFI) is now finalising its agreement with South Africa’s Zinc Corporation (Zincor) for a joint-venture company to redevelop the Kipushi zinc-copper mine in the Democratic Republic of the Congo (DRC). 

Investor interest in DRC zinc project heats up

21st September 2001 London-based America Mineral Fields International (AMFI) is now finalising its agreement with South Africa's Zinc Corporation (Zincor) for a joint-venture company to redevelop the Kipushi zinc-copper mine in the Democratic Republic of the Congo (DRC). 

Aluminium boosts Mozambique

19th September 2001 The Mozambican economy has grown by nearly 15% in the first half of this year, with the Mozambique Aluminium Mozal smelter contributing an estimated 4%, State radio reported on Monday. 

Russians get bauxite reassurance from Guinea

18th September 2001 Russian Aluminium, fearing a challenge by competitors over a concession to develop a bauxite mine in Guinea, said that it had been reassured by the West African country’s government. 

More zinc casualties emerge

13th September 2001 Zinc market woes have been further entrenched with Pasminco, the top zinc miner and refiner, reporting a loss in fiscal 2001 after metals prices fell and it lost money on currency bets. 

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