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Base Metals News

Glencore feud deepens as Zambia moves to revoke copper mines 

By: , Bloomberg     15th April 2020 Zambia raised the stakes in its fight with Glencore Plc, threatening to strip the company of its copper mines in the southern African country. Glencore said last week it needs to close shafts at Mopani Copper Mines due to falling metal prices, disrupted logistics and travel restrictions related... 

Blackstone exercises option in Vietnam

By: Esmarie Iannucci     15th April 2020 Junior Blackstone Minerals has exercised its option to acquire a 90% interest in the Ta Khoa nickel/platinum group metals project, in Northern Vietnam. The company in May last year inked an option agreement with owner AMR Nickel to acquire a 90% stake in the project, and under that agreement,... 

Oz maintains outlook following first quarter

By: Esmarie Iannucci     15th April 2020 Copper/gold miner Oz Minerals has maintained its production guidance for the full 2020 following a strong start to the financial year, and despite the impacts wrought by the Covid-19 pandemic. “Despite the Covid-19 pandemic constraints and response to protect the health of our employees, other... 

Oz maintains outlook following first quarter

Panoramic halts Savannah but continues funding talks

By: Esmarie Iannucci     15th April 2020 Nickel miner Panoramic Resources has temporarily suspended operations at its Savannah project, in Western Australia, amid the Covid-19 outbreak. The miner on Wednesday said that while there were currently no cases of Covid-19 reported at the Savannah nickel mine, the pandemic was adversely... 

American Pacific buys Montana copper/gold project

By: Creamer Media Reporter      15th April 2020 US-focused gold explorer American Pacific Mining (APM) has signed a definitive agreement to buy private miner Madison Metals’ interest in its namesake copper/gold project, in Montana, US. The Madison project is a fully-permitted, past producing copper/gold mine that is under option to Rio... 

Glencore continues to engage to minimise Covid-19 impact

By: Martin Creamer     14th April 2020 Diversified mining and marketing Glencore is continuing to engage with authorities, labour unions and other stakeholders on steps to minimise the impact of Covid-19 on its operations. The London- and Johannesburg-listed company stated on Tuesday that its goal was to operate only when it could... 

Glencore continues to engage to minimise Covid-19 impact
Photo by Bloomberg
Ivan Glasenberg

Master Drilling announces new board nomination

By: Martin Creamer     14th April 2020 Hennie Faul, who has particularly deep insight into the copper mining industry in South America, has been nominated for appointment to the board of Master Drilling, which operates extensively in Latin America. JSE-listed Master Drilling stated in a stock exchange news service (SENS) announcement... 

Master Drilling announces new board nomination
Photo by Reuters
Hennie Faul

Antemina halts production in Peru

By: Esmarie Iannucci     14th April 2020 Peruvian base metals miner Compania Minera Antamina has temporarily suspended operations at its Antamina copper/zinc mine, in response to the Covid-19 pandemic. Mining major BHP, which holds a 33.75% interest in Antemina, on Monday said that the Peruvian company had been operating with a reduced... 

MMG nixes Las Bambas copper mine guidance as virus curbs reduce supply

By: Reuters     13th April 2020 Australia-based MMG is formally withdrawing its 2020 production guidance for the Las Bambas copper mine in Peru, it said on Monday, after the South American country extended a state of emergency to contain the spread of coronavirus. The miner, which is majority owned by State-run China... 

MMG nixes Las Bambas copper mine guidance as virus curbs reduce supply

Freeport-McMoRan closes New Mexico mine as coronavirus cases spread

By: Reuters     13th April 2020 Freeport-McMoRan, the world's largest publicly traded copper producer, said on Sunday it has suspended operations at its Chino mine in New Mexico due to the spread of Covid-19, the respiratory disease caused by the new coronavirus. The move comes after three employees tested positive for the... 

Chile's outsourced Codelco workers slam suspension of contract work over coronavirus

By: Reuters     10th April 2020 Outsourced workers at Chile's State-owned Codelco, the world's largest copper producer, on Thursday slammed the miner's decision to suspend some contract work as a result of increasing restrictions around the coronavirus outbreak. Codelco on Wednesday said the temporary measures were necessary... 

Montana’s Black Butte Copper passes permitting finish line

By: Creamer Media Reporter      10th April 2020 TSX-V-listed Sandfire Resources America on Thursday announced that the Black Butte Copper underground mining project in Montana, in the US, has received a record of decision for its permit. With a mine operating permit in hand, wholly owned subsidiary Tintina Montana can now develop and mine... 

BHP confirms first two cases of coronavirus at Chile's Escondida copper mine

By: Reuters     10th April 2020 Global miner BHP confirmed on Thursday two cases of coronavirus at its Escondida copper mine in Chile, the world´s largest. The company said in a statement that one in-house worker and one contractor had shown symptoms and tested positive. Several others who came in contact with them were... 

BHP confirms first two cases of coronavirus at Chile's Escondida copper mine

IoT assists with challenges in mining operations

By: Mc'Kyla Nortje     10th April 2020 Every mining environment poses different challenges, but mining houses tend to prioritise the enhancement of mine health and safety procedures, and technology service provider In2IT Technologies CTO Vishal Barapatre notes that the Internet of Things (IoT) is “a top choice” in this regard. He... 

IoT assists with challenges  in mining operations
VISHAL BARAPATRE Mining safety is also about better business and creating a smarter mining sector that will continue to support South African growth

Too early to comment on when mining will resume – Minerals Council

By: Martin Creamer     9th April 2020 Comment on when mining industry operations will resume is premature but what is certain is that when resumption does occur, it will not be business as usual, Minerals Council South Africa said on Thursday. Noting reports on the resumption of mining operations after 16 April, Minerals Council... 

Glencore launches $25m support fund in response to Covid-19 

By: Martin Creamer     9th April 2020 Diversified mining and marketing company Glencore on Thursday announced the launch of a $25-million fund in response to the coronavirus pandemic. The fund will support the London- and Johannesburg-listed company’s teams that are working closely with governments, health agencies and others key... 

Glencore launches $25m support fund in response to Covid-19
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Vale extends Voisey’s Bay shutdown by up to 3 months

By: Creamer Media Reporter      9th April 2020 The Voisey’s Bay mine, in Labrador, Canada, will remain on care-and-maintenance for up to another three months, because of the coronavirus, Brazilian major Vale reported on Thursday. On March 16, Vale announced a four-week care-and-maintenance period at Voisey's Bay mine, owing to the unique... 

Codelco says copper production, sales hitting targets amid coronavirus outbreak

By: Reuters     9th April 2020 Chile state copper miner Codelco, the world´s largest, said on Wednesday its production continued in line with its plans despite the measures it has implemented to stave off the spread of coronavirus at its operations. The company told Reuters in an email that it had also met 100% of its sales... 

Red River posts solid March quarter

By: Esmarie Iannucci     9th April 2020 Metals miner Red River Resources has reported record copper production during the March quarter, along with increased zinc and lead production. The ASX-listed miner told shareholders that mine production and mill throughput improved significantly in the quarter ending March resulting in... 

Strongbow, exploration partner hits quality copper mineralisation in Cornwall

By: Marleny Arnoldi     8th April 2020 TSX-V-listed Strongbow has announced that its drilling partner Cornish Lithium has discovered a new zone of high-grade copper/tin mineralisation at its United Downs exploration project, in Cornwall, UK. Cornish Lithium has the right to explore Strongbow’s mineral rights in Cornwall for lithium... 

First Quantum shuts Cobre Panama after Covid-19 death

By: Mariaan Webb     8th April 2020 Canadian miner First Quantum Minerals has placed its Cobre Panama operation into care-and-maintenance, after the Healthy Ministry of Panama (Minsa) this week ordered the temporary suspension of labour activities at the site. The order follows the death of a worker as a result of Covid-19 related... 

First Quantum shuts Cobre Panama after Covid-19 death
The Cobre Panama operation has been shut.

Glencore's Mopani copper mines on care and maintenance 

By: Martin Creamer     7th April 2020 Copper mining company Mopani Copper Mines plc said on Tuesday that it had placed its mining operations on care and maintenance and a number of projects on hold. Mopani, owned 73.1% by Glencore, is an integrated copper producer located in the Copperbelt of central Zambia. 

Copperbelt miners turn to Tanzania as S African lockdown hits ports

By: Reuters     7th April 2020 South Africa's strict coronavirus lockdown has caused miners to divert copper from the country's ports to others in Africa, with Dar es Salaam the clear winner, sources told Reuters. Authorities in South Africa initially said ports would only process essential goods during a three-week nationwide... 

Zambia says Glencore declares 'force majeure' to shut copper mines, will block move

By: Reuters     7th April 2020 Zambia said on Tuesday that Glencore has declared "force majeure" and will shut its copper mines in the country, adding that the government would block the move which would result in 11 000 people losing their jobs. Mines Minister Richard Musukwa said Glencore plans to put its Mopani Copper... 

The state of Chinese commodities shows recovery taking hold

By: , Bloomberg     7th April 2020 From oil to copper to coal, China’s gigantic commodities industry is signaling that the first economy to be flattened by the coronavirus is getting closer to a return to normality. Bloomberg Economics estimates that most of China was 90% to 95% back to work at the end of last week, noting... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     7th April 2020 Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Atalaya sets copper guidance for 2020

By: Marleny Arnoldi     7th April 2020 A lower average copper price realised for the year ended December 31, 2019, resulted in TSX- and Aim-listed Atalaya Mining generating lower aftertax profit of €31-million, compared with €34-million in the year ended December 31, 2018. The average copper price realised in the year under review... 

Freeport-McMoRan workers at New Mexico mine test positive for coronavirus

By: Reuters     7th April 2020 Three employees at a New Mexico mine owned by Freeport-McMoRan, the world's largest publicly traded copper producer, have tested positive for Covid-19, the state's lieutenant governor said on Monday. It was not immediately clear if operations at the mine have been affected. A Freeport... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

By: Simone Liedtke     6th April 2020 Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which in turn significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic... 

Global GDP to contract 1.9% this year, spark commodity oversupply, says Fitch

Anglo going to great lengths to support South Africa in its Covid-19 hour of need  

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Nevada Copper suspends Pumpkin Hollow production

By: Mariaan Webb     6th April 2020 Copper production has been suspended at the Pumpkin Hollow mine, as a result of stringent travel and workplace restrictions that the US state of Nevada imposed to combat the spread of Covid-19. The suspension of production is expected to last for at least six weeks, owner Nevada Copper, which... 

Nevada Copper suspends Pumpkin Hollow production

Spain allows copper mine to resume as supplier to essential industries

By: Mariaan Webb     6th April 2020 Aim- and TSX-listed Atalaya Mining on Monday confirmed that operations had resumed at its Proyecto Riotinto copper mine, in Spain, after the mining department of Junta de Andalucía clarified that mining operations supplying other essential industries should continue to operate. Atalaya stopped... 

Spain allows copper mine to resume as supplier to essential industries
The Proyecto Riotinto mine has resumed operations.

Pembridge reduces economic interest in Minto

By: Simone Liedtke     6th April 2020 LSE-listed Pembridge Resources is set to restructure the share ownership of its Minto copper mine, in Canada. In light of the current financial market conditions owing to the outbreak of Covid-19 globally, and the potential for material cash calls on Pembridge, the company, with other Minto... 

Antofagasta suspends contractor agreements for 120 days

By: Mariaan Webb     6th April 2020 Chilean miner Antofagasta Minerals has suspended contracts with most companies building its Los Pelambres expansion project for up to 120 days, but has stressed that this does not imply that contracts will be terminated. The London-listed company last week confirmed that its Los Pelambres... 

Antofagasta suspends contractor agreements for 120 days

Eurasian Resources execs take 30% pay cut in support of Covid-19 measures

By: Marleny Arnoldi     6th April 2020 Global diversified miner Eurasian Resources Group (ERG) CEO Benedikt Sobotka and first deputy CEO Aldiyar Kaztayev have offered to take a 30% cut in their salaries for 12 months, owing to the unprecedented challenges that the world is facing as a result of Covid-19. The company is confident... 

Zeta provides funding to Panoramic

By: Esmarie Iannucci     6th April 2020 ASX-listed Zeta Resources has provided nickel miner Panoramic Resources with an A$8-million unsecured loan to fund activities at the Savannah project, in Western Australia, and for working capital purposes. The loan will have an interest rate of 6% a year, and is unsecured and subordinated to... 

Chilean copper miners 'considering production cuts' - industry association

By: Reuters     3rd April 2020 Copper miners in Chile are considering cutting production amid strict measures to contain the spread of the new coronavirus, an association of companies in the sector has told Reuters. A report by the National Mining Society (Sonami), which represents all miners of the red metal across Chile,... 

Alphamin expresses concern about a dwindling tin price  

By: Marleny Arnoldi     3rd April 2020 JSE- and TSX-V-listed Alphamin Resources produced 2 119 t of contained tin in the quarter ended March 31. This was at the mid-point of its guidance range and compares with the 2 235 t of contained tin produced in the quarter ended December 31, 2019.  

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