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Base Metals News

Giant expected to reverse copper cuts

15th July 2003 BHP Billiton, the world's largest diversified miner, was likely to start reversing South American copper production cuts amid optimism for improved market conditions in 2004, analysts said yesterday. 

Kumba insists on rights to DRC copper project

By: Martin Zhuwakinyu     11th July 2003 Metals and mining group Kumba Resources has insisted that its right to refurbish the mothballed but potentially world-class Kamoto copper-cobalt mine, in the Democratic Republic of Congo’s (DRC’s) Katanga province, has not fallen away, despite reports that a Canadian group has been... 

SA group also keen on Moatize coal project

By: Keith Campbell     11th July 2003 SOUTH African mining group Kumba is interested in developing the Moatize coal deposits in Mozambique.? 

Zambia mine could produce 300 000 t copper in 2004

11th July 2003 Zambia's Konkola Copper Mines' (KCM) copper cathode output could rise to 300 000 t/y in 2004, when it starts producing 50 000 t more metal from residues at its Nchanga operation, a senior manager said yesterday. 

Nigeria defers naming bidder for aluminium plant

9th July 2003 Nigeria said yesterday it had deferred the selection of a preferred bidder for its mothballed Alscon aluminium smelter because of a general strike that crippled the oil-producing country for over a week. 

Burlington starts oil production from Algeria

9th July 2003 US oil exploration company, Burlington Resources, said yesterday it has started production from its Menzel Lejmat North (MLN) oilfield in Algeria. 

Queensland copper prospect to be explored

9th July 2003 Australian resources company Malachite has secured a new exploration copper-gold-silver prospect in north Queensland. 

Global copper output falls

8th July 2003 A drop in Zambian copper output due to smelter repairs and losses in Serbia because of insufficient funds are partly to blame for cuts in Reuters Metal Production Database (MPD) copper output forecasts for Africa and Eastern Europe. 

Alcan may have to sell Pechiney assets in takeover

8th July 2003 Canadian aluminium maker Alcan's takeover bid for Pechiney, if successful, could lead to the disposal of some of the French firm's European downstream assets to overcome competition concerns, analysts said yesterday. 

Copperbelt: where to now?

By: nkolola halwindi     7th July 2003 Arguably, the best thing about the privatisation of Zambia’s mines is that it appears finally to be drawing to a close. 

Australian alumina plant to increase output

4th July 2003 Alcoa said yesterday it would spend A$400-million to expand its Pinjarra alumina refinery in Western Australia state by 2005. 

Copper-mine implements management system

4th July 2003 The world’s largest openpit copper-mine in terms of production, Minera Escondida, has implemented Modular Mining’s IntelliMine integrated mine management system. 

Copperbelt: where to now?

By: nkolola halwindi     4th July 2003 Arguably, the best thing about the privatisation of Zambia’s mines is that it appears finally to be drawing to a close. 

Zambia says Swiss firm ups Ramcoz offer

3rd July 2003 Zambia said yesterday that Swiss firm J and W Investments had raised its offer for the shuttered copper and cobalt group Roan Antelope Mining Corporation of Zambia (Ramcoz), initially priced at more than $7-million. 

Nigeria seeks to sell stake in aluminium smelter

2nd July 2003 Nigeria said yesterday it was seeking to divest up to 70% of its equity stake in its Alscon aluminium smelter to one of two suitors who will be selected as a core investor next week. 

New Zambian copper-gold mine to be commissioned next year

27th June 2003 Canadian miner First Quantum Minerals will commission its Kansanshi copper-gold deposit in Zambia in the fourth quarter of 2004, it said earlier this week. 

Financing announced for copper-gold drill in Alaska

25th June 2003 Canadian miner Northern Dynasty Minerals announced this week that it had reached an agreement with private mining finance company to complete a $5-million private-placement deal, which will be used at the Pebble gold-copper exploration project in Alaska. 

Aluminium group targets 400 000 t from Asian unit

24th June 2003 Canada-based Alcan's only aluminium rolled products maker in Asia said yesterday it would produce over 400 000 t this year, up 14% from 2002, with a target of 500 000 t in 2005. 

GM expects to use more copper in cars

23rd June 2003 Automaker General Motors Corp's copper usage per vehicle is expected to increase at a modest pace as new electrical, communications and other systems require more wiring in its cars and trucks, especially in hybrids. 

Soft demand weighs down E Asian aluminium prices

20th June 2003 Most South Korean and Taiwan aluminium importers have ended premium talks for long-term Western supply contracts, tracking their Japanese counterparts in trimming term premiums partly due to sluggish demand, traders said yesterday. 

Collahuasi copper mine upgrade on track

20th June 2003 A $650-million expansion at the Collahuasi copper mine in Chile is 40% complete and on schedule for completion in June 2004, a senior company official said on Wednesday. 

Pechiney still keen on Corus aluminium assets

19th June 2003 French metals company Pechiney said on Tuesday it was still interested in buying some of Corus Group's aluminium assets if the Anglo-Dutch company put them up for sale again. 

Copper miner in new Kansanshi funding deal

19th June 2003 Canadian miner First Quantum Minerals announced this week that it has entered into an agreement with a syndicate of underwriters, which have agreed to purchase from and then sell to the public five-million common shares, resulting in gross proceeds of C$26,75-million. 

$400m Chile copper project announced

18th June 2003 The joint venture partners in the Escondida copper mine in northern Chile have announced approval of the $400-million Escondida Norte project. 

US aluminium orders remain low

13th June 2003 The Aluminum Association's latest figures show US aluminum orders for all categories rose a seasonally adjusted 19% in May over month-earlier figures, according to BB&T Capital Markets' research report citing the data on Wednesday. 

Nigeria to select aluminium smelter buyer in July

10th June 2003 Nigeria will select its preferred buyer for the mothballed Aluminium Smelter Company of Nigeria (Alscon) in July, four years after it was shut down, a public enterprises official said yesterday. 

DRC in talks with Kinross on copper deal

5th June 2003 Democratic Republic of Congo hopes to ramp up dwindling copper production through a deal involving Canada's Kinross Gold Corporation to refurbish its Kamoto mine with $135-million, a top official said. 

Kaiser’s Valco smelter to operate fully by 2006

2nd June 2003 Kaiser Aluminum and Chemical Corporation said on Friday it signed a memorandum of understanding with Ghana and Volta River Authority for its 90% owned Volta Aluminum (Valco) smelter in Ghana to be fully operational by January 2006. 

Russian aluminium producer to raise output

30th May 2003 Russia's top aluminium producer RusAl will raise production by 1,25-million tons within the next five years by building a new smelter, buying existing ones and expanding current capacity, a top official said yesterday. 

S Korea’s imports of Chinese aluminium rising

By: laurian clemence     29th May 2003 South Korea's imports of Chinese primary aluminium ingots have been soaring due to competitive prices and prompt shipments, and demand is expected to continue, traders said yesterday. 

Chinese zinc producer to raise output, capacity

29th May 2003 to increase output to 80 000 t this year from 60 000 t in 2002, a company official said yesterday. Hongda, a top zinc producer in southwestern province of Sichuan, also planned to nearly triple its capacity to 300 000 t/yr in three years, which would make it one of the top zinc firms in China,... 

Negative outlook for zinc prices continues

28th May 2003 World zinc prices, which during the last year fell to their lowest level in real terms since the Great Depression, are forcing miners to drive down their production costs – and, the outlook remains bleak. 

Chilean copper giant sees bright future for the metal

By: Keith Campbell     23rd May 2003 Giant Chilean copper-miner Codelco is strongly optimistic about the long-term future of copper & is making substantial investments to improve its competitiveness and add value. 

Copper set to rocket

By: Keith Campbell     23rd May 2003 Chilean copper mining giant Codelco is involved in what could reasonably be described as a prospecting joint venture (JV) that is out of this world. Quite literally. 

Zambia first quarter copper, cobalt output falls

23rd May 2003 Zambian copper production fell to 74 310 t in the first quarter of 2003 from 77 813 t in the same period a year ago, Citibank Zambia said. 

Swiss miner on course with Zambian metals bid

21st May 2003 Switzerland's J&W Investments Group remains on course with its bid for the majority holding in Zambian copper and cobalt producer Chambishi Metals, after conducting due diligence at the plant, J&W's chief financial officer said late on Monday. 

Zambia names Sterlite as KCM preferred bidder

19th May 2003 Zambia said on Friday that India's Sterlite Industries was the preferred bidder for an equity stake in its Konkola Copper Mines (KCM), following the acrimonious exit of Anglo American as a partner last year. 

First zinc produced at Skorpion

By: Martin Czernowalow     19th May 2003 Mining giant Anglo American said on Friday that its wholly-owned Skorpion zinc mine has produced its first metal, after being completed within budget. 

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