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Base Metals News

Orion Minerals, PTM make headlines 

17th April 2019 This week Mining Weekly editor Martin Creamer unpacks the developments at Orion Minerals and Platinum Group Metals. 

Munali nickel mine restarted

By: Marleny Arnoldi     16th April 2019 Mabiza Resources and its major investor Consolidated Nickel Mines (CNM) have restarted mining operations at the Munali nickel mine, in Zambia. The refurbished mine was officially opened on Tuesday by Zambia President Edgar Lungu and key dignitaries from the Zambian government.  

Beowulf raises another £500 000

By: Creamer Media Reporter      16th April 2019 Nordic-focused mineral exploration and development company Beowulf Mining has announced that it will raise £500 000 by issuing shares at 5.75p each. The funds are for general working capital purposes and for supporting its commitment to Vardar Minerals’ Kosovan exploration programme, the company... 

Gold output to reach record high this year – report 

By: Nadine James     16th April 2019 Gold production increased for the tenth consecutive year in 2018 to 107.3-million ounces and is expected to reach a new record high of 109.6-million ounces this year, S&P Global Market Intelligence research analyst Christopher Galbraith said on Tuesday.   He noted that while the year-on-year... 

Gold output to reach record high this year – report

Waterton launches legal action against Hudbay

By: Creamer Media Reporter      16th April 2019 Toronto-based investment firm Waterton Global Resource Management, which is waging a proxy contest against Hudbay Minerals, has started legal proceedings against the TSX- and NYSE-listed miner in the Ontario Superior Court. According to a statement from Hudbay, Waterton is alleging that the... 

Waterton launches legal action against Hudbay
Hudbay CEO Alan Hair

Lumwana says higher taxes will have severe impact on business

By: Reuters     16th April 2019 Higher mineral taxes in Zambia will have a severe effect on Lumwana Mining Company's operations, driving its costs up, the copper miner's country manager, Nathan Chishimba, told journalists on Tuesday. Earlier this year, Africa's second-largest copper producing country increased royalties and... 

With sanctions lifted, Rusal to invest in US aluminum mill

By: Bloomberg     16th April 2019 Just months after being freed from US sanctions, Russia’s largest aluminum maker plans to invest in a new aluminum rolling mill in Kentucky. United Co. Rusal, controlled by billionaire Oleg Deripaska until the US Treasury forced him to reduce his stake earlier this year, intends to invest up to... 

Flood-damaged Mt Isa zinc railway to reopen April 29

By: Reuters     16th April 2019 A railway that carries zinc from major producers such as Glencore across Australia's Outback is expected to reopen this month, Queensland's Transport Minister said on Tuesday. "Every resource has been made available to accelerate recovery works," Mark Bailey said in a statement. 

Turquoise Hill reviewing impact of Oyu Tolgoi Shaft 2 delay

By: Mariaan Webb     16th April 2019 Rio Tinto, the project manager of the Oyu Tolgoi, in Mongolia, has concluded a review of the fit-out and commissioning issues at Shaft 2 – the main production and services shaft of the underground development – and expects the Shaft to be completed by the end of October. Rio Tinto-owned... 

Orion clinches potent new-style empowerment deal  

By: Martin Creamer     16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... 

Orion clinches potent new-style empowerment deal
Orion Minerals CEO Errol Smart (left) interviewed by Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Dylan Slater.

After 40 years, Chile copper giant is struggling to stay on top

By: Bloomberg     16th April 2019 Over more than a century, miners have been digging an open pit in northern Chile that’s now more than four times the size of New York’s Central Park. The Chuquicamata mine has helped Codelco dominate the copper market as the world’s number one producer of the metal. Now, the state-owned company... 

Atalaya reports first-quarter production results

By: Creamer Media Reporter      15th April 2019 European copper producer Atalaya Mining on Monday posted an 8% year-on-year increase in first-quarter copper production to 10 219 t. Compared with the fourth quarter of last year, which was a record three-month period, output fell by 9%, as a result of slightly lower throughput and head grade,... 

Lundin buys Yamana’s copper mine for more than $1bn

By: Mariaan Webb     15th April 2019 Toronto-headquartered Lundin Mining will buy fellow Canada-based miner Yamana Gold’s Chapada mine, in Brazil, for more than $1-billion, it was announced on Monday. Lundin president and CEO Marie Inkster said that the acquisition of the copper and gold mine complemented the company’s portfolio... 

Lundin buys Yamana’s copper mine for more than $1bn

Strike ends at Sierra Metals’ Yauricocha mine

By: Creamer Media Reporter      15th April 2019 A near-month-long labour strike over contractor changes at the Yauricocha mine, in Peru, ended at the weekend. Canada-based mining company Sierra Metals has said that an agreement was reached whereby no contractors dismissed as part of the contractor change will be reinstated, which was the... 

Aeris walks away from Glencore copper mine buy

By: Esmarie Iannucci     15th April 2019 SX-listed Aeris has abandoned its $575-million plan to buy the CSA copper mine, in New South Wales, from major Glencore. The company told shareholders on Monday that it had been unable to reach agreeable terms with the Swiss-headquartered major. 

Rio Tinto injects another $302m into Arizona copper project

By: Esmarie Iannucci     15th April 2019 Major Rio Tinto will invest a further $302-million to advance the Resolution copper project, in Arizona. Rio, which owns a 55% interest in the project, and project partner BHP, which owns the remaining 45% interest, have invested over $2-billion on the permit since 2004, including on sinking a... 

Rio Tinto injects another $302m into Arizona copper project

Polish lawmakers approve copper tax cut ahead of election

By: Reuters     15th April 2019 Poland's lower house of parliament, dominated by the ruling conservative Law and Justice (PiS) party, approved on Friday a 15% cut in the copper tax to allow more investment by state-run copper producer KGHM . The mining levy was introduced in 2012 by PiS's predecessors in an attempt to improve... 

Exxaro reaffirms health, safety goals at Sustainability Summit

By: Simone Liedtke     12th April 2019 Empowered diversified miner Exxaro Resources on Friday reaffirmed its safety, health and environmental goals at its yearly Sustainability Summit, held in Lephalale, Limpopo. The summit is being held soon after the group celebrated a 24-month fatality-free milestone. 

Arc to drill new targets at Zambia project

By: Marleny Arnoldi     12th April 2019 Aim-listed Arc Minerals has started an exploration programme at its Zamsort copper/cobalt project, in Zambia. This followed completion of an airborne geophysical programme. The exploration programme entails infill soil sampling over new targets, with 1 200 samples already completed, and... 

African Battery Metals restarts exploration at DRC project

By: Marleny Arnoldi     12th April 2019 Following a detailed review of historic exploration, Aim-listed African Battery Metals (ABM) has restarted exploration activities at its Kisinka copper/cobalt project in the Democratic Republic of Congo. However, to preserve the company’s capital, the exploration programme will adopt a staged... 

Vast raises £600 000 for Romania, Zim projects

By: Marleny Arnoldi     12th April 2019 Aim-listed diversified miner Vast Resources has raised £600 000 through a placement and subscription of around 440-million shares at a price of 0.135p apiece. The placing was for 407-million ordinary shares, and the subscription was for 37-million shares, of which 29-million and 7.4-million... 

Taseko produces copper at Florence

By: Creamer Media Reporter      12th April 2019 The production test facility at base metals miner Taseko Mines’ Florence copper project, in central Arizona, is fully operational and is producing copper, the Vancouver-headquartered company announced on Friday. It reported that, over a three-month period, about 1.5-million tons of copper ore had... 

Taseko produces copper at Florence
The first copper from the Florence test facility.

Prominent Hill on track for full-year targets

By: Esmarie Iannucci     12th April 2019 Copper and gold miner Oz Minerals on Friday said that it remained on track to reach its full-year production guidance, despite lower output during the three months to March. Total copper production for the first quarter ended March reached 27 442 t, with the Prominent Hill project delivering 25... 

Copper industry to see more disruptions in 2019 – Antofagasta CEO

By: Reuters     12th April 2019 The global copper industry will be rocked by more disruptions this year than in 2018, contributing to a supply deficit as demand for the red metal continues to grow, the top executive of Chilean miner Antofagasta told Reuters. Antofagasta CEO Ivan Arriagada said labour strife, extreme weather... 

Copper industry to see more disruptions in 2019 – Antofagasta CEO
Antofagasta CEO Ivan Arriagada

West African mining rising steadily

By: Mamaili Mamaila     12th April 2019 Mining activity in West Africa is increasing and this trend is likely to continue. New mines have been established in Mali over the past few years, as well as in countries, such as Liberia, which are not traditionally associated with mining, says engineering consulting company SRK Consulting... 

West African mining  rising steadily
JOHN KWOFIE West Africans are expressing their right to benefit from mining activities taking place in their own backyard

Canadian junior miners losing out to cannabis companies – BDO Global

By: Nadine James     12th April 2019 Equity markets have “fallen out of love with junior miners” of late as investors have been lured to other sectors, specifically into cannabis stocks, notes a report by auditing and business advisory BDO Global partner Sherif Andrawes. The analysis, released last week, notes that investors that... 

Canadian junior miners losing out to cannabis  companies – BDO Global
Photo by Bloomberg
JOHNNY-COME-LATELY investors that were traditionally attracted to the junior mining space have a secondary option, where the valuations are higher and forecast demand is reportedly worth billions

New ways of determining workers’ fitness for work urged amid changing laws and attitudes towards cannabis

By: Nadine James     12th April 2019 Changing societal perceptions, combined with more and more countries legalising cannabis use, means that companies should adapt traditional methods of determining whether employees are fit for duty, says Predictive Safety director of fatigue education Dr Doug Potter.   

New ways of determining workers’ fitness for work urged amid changing laws and attitudes towards cannabis
ALERTMETER The tests take up to 90 seconds to complete, produce immediate results, and can be repeated multiple times a day, with no risk of a false positive

Demand for outsourced solutions rising in Africa

By: Jessica Oosthuizen     12th April 2019 Mineral discoveries in Africa have been on the increase in the past ten years and one of the major challenges for mines is finding expert solutions in countries that have developing mining ecosystems, says global boutique consultancy The Polyglot Group renewables and resources senior consultant... 

Demand for outsourced  solutions rising in Africa
JASON TODD In Africa, minimising risk is always high on the agenda

Rock engineering consultancy expanding service offering

By: Jessica Oosthuizen     12th April 2019 Outsourced rock engineering and seismic monitoring services provider Open House Management Solutions (OHMS) is continuously considering opportunities to expand its service offering to the minerals industry and develop in new, but related services, says OHMS MD Koos Bosman. OHMS has been in... 

Rock engineering consultancy expanding service offering
REAL-TIME MONITORING Open House Management Solutions can monitor the rock mass response in real time

AEM system to boost West African exploration

By: Mamaili Mamaila     12th April 2019 South African airborne geophysics technology provider Spectrem Air plans to reintroduce the application of its airborne electromagnetic (AEM) platform – the SPECTREMPLUS system – to the mineral and groundwater exploration industry in West Africa. This continually evolving platform entails being... 

AEM system to boost West African exploration
SIGHTS SET Spectrem Air is following new business leads in Ghana and Guinea

Orion Minerals halts securities trading at JSE as it prepares for capital raising

By: African News Agency      11th April 2019 Australian miner Orion Minerals on Thursday requested an immediate trading halt be placed on its securities in the Johannesburg Stock Exchange (JSE) as it anticipates making a material announcement in relation to a proposed capital raising. Orion said the trading halt was requested until the... 

Xanadu scopes 20Mt opencut operation

By: Esmarie Iannucci     11th April 2019 A scoping study into the Kharmagtai openpit copper/gold project, in Mongolia, has confirmed the project economics and the project’s potential to become a robust, high margin, rapid payback and long-life operation, dual listed Xanadu Mines said. The scoping study estimated that the 20-million... 

New Century increases production in March quarter

By: Esmarie Iannucci     11th April 2019 Base metals miner New Century Resources has reported more than a 50% increase in zinc production for the quarter ended March. New Century on Thursday reported that 18 170 t of zinc was produced in 37 500 t of concentrate, grading 48.3% zinc, compared with the 25 500 t of concentrate produced in... 

Sumatra calls in administrators

By: Esmarie Iannucci     11th April 2019 ASX-listed Sumatra Copper & Gold on Thursday told shareholders that it would voluntarily appoint administrators after failing to raise funding to restructure its debt. Sumatra subsidiary PT Dwinad Nusa Sejahtera, which operated the Tembang project in Indonesia, has been in discussions with its... 

Sumatra calls in administrators

Revitalising its copper mines may not be sufficient to keep Chile at the fore

By: Reuters     11th April 2019 Codelco and other copper mining giants are set to plow billions of dollars into the revitalisation of Chile's mines, but that may not be enough to keep the country from losing ground to competitors elsewhere in the world. Demand for copper is widely expected to take off by the mid-2020s amid a... 

Revitalising its copper mines may not be sufficient to keep Chile at the fore

From turbines to thermostats: Copper miners eye high-tech demand

By: Reuters     11th April 2019 Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity. That bodes well for the likes of... 

From turbines to thermostats: Copper miners eye high-tech demand

Codelco 'perfectly well' financed for next two years - chairman

By: Reuters     11th April 2019 Chile's Codelco, the world's biggest copper producer, is "perfectly well financed" for the next two years as it pushes forward with its largest-ever drive to revitalize its aging mines, chairperson Juan Benavides said on Wednesday. State-owned Codelco, which produces nearly one-tenth of the... 

Good start to 2019 for Central Asia Metals

By: Creamer Media Reporter      10th April 2019 London-listed Central Asia Metals Limited (CAML) has had a good start to the year at its Kounrad and Sasa operations, with the company on Wednesday declaring that it was on track to meet its full-year guidance for copper, zinc and lead. The Kounrad dump leach, solvent extraction and... 

Good start to 2019 for Central Asia Metals

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