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Base Metals News

Metals X sells copper assets for A$60m

By: Esmarie Iannucci     10th February 2021 ASX-listed Cyprium Metals has struck a A$60-million deal with fellow-listed Metals X to acquire its copper portfolio, including the Nifty and Maroochydore copper projects, and the Paterson exploration project, all in Western Australia. Cypriam on Wednesday announced that it had received firm... 

Aluminium producer Norsk Hydro sued by Brazilian group over alleged pollution

By: Reuters     9th February 2021 Some 40 000 Brazilians are bringing a group-action lawsuit against Norwegian aluminium producer Norsk Hydro for what they say is toxic waste pollution the company is causing in northern Brazil. The lawsuit is brought by a group of communities who live in the lower Amazon region in the Brazilian... 

Aluminium producer Norsk Hydro sued by Brazilian group over alleged pollution
Alunorte is a refinery that Norsk Hydro owns in Para, Brazil.

Rusal says aluminium demand healthy despite pandemic

By: Reuters     9th February 2021 Demand for aluminium is extending its recovery so far this year despite a second wave of Covid-19 lockdowns, an executive at Russian aluminium producer Rusal said this week. "Demand is still strong in many sectors, especially automotive, packaging, construction," Roman Andryushin, head of sales... 

Mongolia seeks more tax revenue from Rio copper mine expansion -source

By: Reuters     9th February 2021 Mongolia wants more tax revenue under a revised deal to expand Rio Tinto's Oyu Tolgoi copper-gold mine rather than a larger ownership stake in the project, a person with direct knowledge of the government's thinking told Reuters on Monday, as the two sides bid to resolve a long-running standoff... 

Mongolia seeks more tax revenue from Rio copper mine expansion -source

Peru reports sharp drop in 2020 copper production due to pandemic

By: Reuters     8th February 2021 Peru's copper production plunged 12.5% to 2.15 -million tonnes in 2020, the country's Energy and Mines Ministry said on Monday, driven down by coronavirus-related restrictions that hammered output in the world's second-largest producer of the red metal. The ministry said gold production also... 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC  

By: Martin Creamer     8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC
World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Canada Nickel held talks with US govt on supplying metal for EV batteries

By: Reuters     8th February 2021 Junior miner Canada Nickel has held talks with US government officials about potentially supplying nickel for electric car batteries, its chief executive said, amid mounting concern in Washington about China's dominance of global supply chains. "It's become very clear that there's large portions... 

Canada Nickel held talks with US govt on supplying metal for EV batteries
Canada Nickel CEO Mark Selby

Eskay Mining invests in Garibaldi

By: Mariaan Webb     8th February 2021 Toronto-headquartered Eskay Mining has entered into an agreement with the Sprott Foundation to acquire shares worth C$10.78-million in explorer Garibaldi Resources, the company announced on Friday. Eskay agreed to buy 23 703 688 shares in consideration for the issuance of 4 211 719 working... 

Eskay Mining invests in Garibaldi

Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT

By: Reuters     8th February 2021 Mongolia's government is seeking an agreement from miner Rio Tinto to terminate a deal to expand the Oyu Tolgoi copper mine in the Gobi Desert, the Financial Times said, citing people with knowledge of the situation. The government has asked the Anglo-Australian mining giant whether it was... 

Mongolia seeking pact with Rio Tinto to end copper mine expansion - FT

Reshuffle at Congo state miner further entrenches Tshisekedi's authority

By: Reuters     5th February 2021 The Democratic Republic of Congo's (DRC's) State mining company Gecamines has replaced its secretary general and other senior positions, an internal memo showed, bolstering the influence of President Felix Tshisekedi at the expense of his predecessor Joseph Kabila. The reshuffle sidelines allies... 

Orion Minerals, Eskom, Botswana's non-diamond exploration make headlines   

5th February 2021 Mining Weekly Editor Martin Creamer unpacks Orion Minerals’ latest acquisition in the Northern Cape, Eskom supporting increasing the licensing exemption threshold for self-generation to 50MW and, Botswana intensifying its effort to attract non-diamond exploration.   

Orion Minerals, Eskom, Botswana's non-diamond exploration make headlines
Orion Minerals, Eskom, Botswana's non-diamond exploration make headlines

Modernisation in South Africa will attract new investment, offer opportunities for industry 

By: Simone Liedtke     5th February 2021 Demonstrating that modernisation in South Africa is possible will attract new investment and offer opportunities for the mining industry, while simultaneously promoting the country as an attractive mining investment location, says Boston Consulting Group (BCG) MD and partner Tycho Mőnks. This... 

Modernisation in South Africa will attract new investment, offer opportunities for industry
Boston Consulting Group (BCG) MD and partner Tycho Mőncks talks to Creamer Media's Simone Liedtke about the benefits of modernisation, and touches on the Covid-19 pandemic. Video: Recorded on Zoom. Editing: Creamer Media's Nicholas Boyd.

Iron-ore, gold and copper set export records

By: Esmarie Iannucci     5th February 2021 New data by the Australian Bureau of Statistics (ABS) has revealed record high export revenue from iron-ore, gold and copper in 2020. The ABS revealed that Australia’s resources exports, including minerals, metals and energy commodities in 2019 generated A$270 billion in export revenue for the... 

Iron-ore, gold and copper set export records

Turquoise Hill gets interim relief in funding spat with Rio for Mongolia mine

By: Reuters     5th February 2021 Canada's Turquoise Hill said on Thursday it has received temporary relief in the arbitration proceedings against Rio Tinto, related to the proposed funding of the Oyu Tolgoi mine. As a result of the order, Rio Tinto may not use the parties' existing contractual arrangements to restrict Turquoise... 

Turquoise Hill gets interim relief in funding spat with Rio for Mongolia mine

Zambia is done for now with taking over mining companies

By: Bloomberg     5th February 2021 Zambia isn’t looking to take over more mining companies, nor is the government planning to nationalize the industry, according to Finance Minister Bwalya Ng’andu. The government has acquired Glencore’s and Vedanta’s local operations in the past two years. Remarks by President Edgar Lungu in... 

DRC Minister joins responsible cobalt initiative

5th February 2021 Global minerals organisation the Responsible Minerals Initiative (RMI) announced in December that Democratic Republic of the Congo (DRC) National Minister of Mines Professor Willy Kitobo Samsoni has joined the Cobalt Action Partnership (CAP) Steering Committee. RMI is partnership lead and... 

DRC Minister joins responsible cobalt initiative
Photo by Bloomberg
RESPONSIBLE VALUE CHAINS CAP promotes the engagement and commitment towards sustainable and inclusive cobalt value chains

Tin producer achieves record production

5th February 2021 Tin miner Alphamin Resources in January reported that its tin production at its high-grade operation in the Democratic Republic of the Congo increased by 13% to a quarterly record of 2 898 t. This exceeded the company’s market guidance of between 2 600 t and 2 800 t. The company also provided an... 

Tin producer achieves record production
EXCELLING SAFETY The Bisie tin mine recorded zero lost-time injuries in the last quarter

Cobalt initiative begins programme roll-out

By: Cameron Mackay     5th February 2021 International collaboration the Fair Cobalt Alliance (FCA) – launched in August last year – has begun implementing programmes to drive the safe and responsible development of cobalt in the Democratic Republic of Congo (DRC). The founding members of the FCA, alongside The Impact Facility, include... 

Battery metal demand to boost DRC mining

By: Cameron Mackay     5th February 2021 The Democratic Republic of Congo’s (DRC’s) mining sector “has been given a boost, owing to a surge in demand for battery metals”, says Nedbank Corporate and Investment Banking mining and resources finances co-head Nivaash Singh. He states that this has increased investment in operations for these... 

Battery metal demand  to boost DRC mining
NIVAASH SINGH Operators in the DRC will have to contend with corruption, illegal mining, growing terrorism, and the Covid-19 pandemic, after having had to deal with Ebola

$140m debt financing completed for Brazil copper/gold project

By: Mariaan Webb     4th February 2021 The Serrote copper/gold project, in Brazil, is fully funded through to production, following the completion of $140-million in debt financing, Mineração Vale Verde (MVV) and Appian Capital Advisory reported on Thursday. The debt finance facility with ING Capital, Natixis, New York Branch, and... 

$140m debt financing completed for Brazil copper/gold project
The Serrote development in Brazil

Menell to chair Brazilian Nickel

By: Mariaan Webb     4th February 2021 Brian Menell has been appointed nonexecutive chairperson of private UK firm Brazilian Nickel (BRN), following the recent $25-million investment by TechMet, of which he is chairperson and CEO. The South African industrialist succeeds Paul Lush, who is now deputy chairperson of BRN. Commenting on... 

Menell to chair Brazilian Nickel
Brian Menell

Glencore, Century Aluminum ink sale of 150 000 t of Natur-Al aluminium

By: Simone Liedtke     4th February 2021 Glencore and Century Aluminum Company have finalised the sale of 150 000 metric tons of Natur‐Al aluminium over five years to Austrian firm Hammerer Aluminium Industries (HAI). Natur‐Al products are made with energy from 100% renewable sources at Century’s Norðurál Grundartangi aluminum plant in... 

KAZ buyout group lifts bid for the miner by £700m

By: Reuters     4th February 2021 The group trying to take KAZ Minerals private said on Thursday that it has raised its bid for the copper miner by 22%, as it tries to win round minority shareholders who rejected the earlier proposal for being too low. The consortium led by KAZ chairman Oleg Novachuk and Kazakh billionaire... 

North Island attractive at start of new super cycle, says Northisle CEO

By: Mariaan Webb     4th February 2021 The North Island project, near Port Hardy, British Columbia, is one of Canada’s most attractive copper/gold porphyry projects, TSX-V-listed Northisle Copper and Gold said on Thursday, announcing the results of the latest preliminary economic assessment (PEA). The 2021 PEA illustrates a... 

North Island attractive at start of new super cycle, says Northisle CEO

African battery metals are central to global ESG agenda, says Indaba panel

By: Marleny Arnoldi     4th February 2021 The world is increasingly electrifying, while also focusing on environmental protection using green technology to do so, and Africa needs to capture as much of the investment value that goes along with those trends, Bushveld Minerals CEO Fortune Mojapelo has said. Speaking during a panel... 

African battery metals are central to global ESG agenda, says Indaba panel
Cobalt

Canadian mining to continue growth momentum in 2021 – EY

By: Creamer Media Reporter      4th February 2021 Canadian mining companies have finished 2020 strongly, as gold prices remain positive, base metals received support by Chinese demand and copper prices leapt to a seven-year high on anticipated government stimulus packages. The EY Canadian Mining Eye index ended the year with continued growth,... 

Canadian mining to continue growth momentum in 2021 – EY
Newcrest's Red Chris mine, in Canada. The company is a new entrant in the EY Canadian Mining Eye.

Jaguar resources increased

By: Esmarie Iannucci     4th February 2021 Base metals developer Centaurus Metals has reported a 50% increase in the indicated resource of its Jaguar project, in Brazil. The project’s indicated mineral resource estimate now stood at 19.9-million tonnes, grading 1.12% nickel for 223 400 t of contained nickel. 

Vimy reviews base metal potential

By: Esmarie Iannucci     4th February 2021 ASX-listed Vimy Resources is reviewing the base metal potential at its Mulga Rock uranium project, in Western Australia. An updated definitive feasibility study (DFS) on the project, completed last year, increased the project’s net present value by 14% on the original DFS, to $393-million, while... 

Botswana intensifying effort to attract non-diamond exploration  

By: Martin Creamer     3rd February 2021 Botswana has intensified efforts to digitise and make geoscience information readily available to local and international potential investors in an effort to encourage prospecting for non-diamond minerals, Botswana President Mokgweetsi Masisi told the virtual 2021 Investing in African Mining... 

Botswana intensifying effort to attract non-diamond exploration
Photo by Creamer Media
Botswana president Mokgweetsi Masisi

Mining has a role to play in supporting the global population, says Cutifani

By: Simone Liedtke     3rd February 2021 The global human population – almost nine-billion people – cannot be supported without mining, diversified miner Anglo American CE Mark Cutifani said during a panel discussion at the virtual Investing in African Mining Indaba on February 2. Speaking during an environmental, social and governance-... 

Glencore reports higher zinc, silver output but lower ferrochrome and copper production 

By: Marleny Arnoldi     3rd February 2021 Global miner Glencore says its mining assets performed well in difficult circumstances during 2020, with year-on-year increases in zinc, gold and silver production. Glencore says Covid-19 and the related mandatory suspensions and restrictions impacted on ferrochrome production in South Africa,... 

Glencore reports higher zinc, silver output but lower ferrochrome and copper production
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Freeport names Adkerson chair, reinstates dividend

By: Mariaan Webb     3rd February 2021 Richard Adkerson has been named chairperson of the world’s largest publicly-traded copper miner, Freeport-McMoRan, succeeding Gerald Ford who has stepped down as nonexecutive chairperson. Adkerson, 74, will also continue as CEO, a position he has held since 2003, the NYSE-listed group said on... 

Freeport names Adkerson chair, reinstates dividend
Richard Adkerson

Codelco, other top Chile miners see production plunge in December

By: Reuters     2nd February 2021 Chilean State copper giant Codelco saw its production of the red metal plunge in December, while other top mines in Chile also saw output drop off, government figures released on Tuesday showed. The national copper commission Cochilco said that output at Codelco, the world's largest copper... 

Orion paving way for another exciting 'green' base metals hub in Northern Cape 

By: Martin Creamer     2nd February 2021 The copper strength of Orion Minerals is intensifying with Tuesday’s announcement of the company’s exclusive option to acquire the Okiep Copper Complex in South Africa’s Northern Cape for A$7.5-million. The Sydney- and Johannesburg-listed company, headed by Errol Smart, now has an opportunity to... 

Orion paving way for another exciting 'green' base metals hub in Northern Cape
Photo by Orion Minerals
The Okiep Copper Complex that Orion Minerals has an option to acquire.

Greece gets six non-binding bids for nickel smelting plant

By: Reuters     2nd February 2021 Greece has received six initial bids for the lease of a smelting plant operated by debt-laden Larco, one the world's biggest nicker producers, the country's privatisation agency HRADF said on Monday. The deadline for the submission of non-binding bids for the Larymna smelting plant and related... 

Nickel West taps into solar

By: Esmarie Iannucci     2nd February 2021 Diversified major BHP’s Nickel West division has inked a renewable power purchasing agreement (PPA) to supply up to 50% of its electricity needs at the Kwinana refinery from Merredin Solar Farm. The miner said this week that the agreement, with Western Australia’s largest solar farm would help... 

Korea Zinc invests in CopperString

By: Esmarie Iannucci     2nd February 2021 The CopperString 2.0 project, in Queensland, has received a A$17-million boost in the form of a financing agreement with Korea Zinc Company. The CopperString 2.0 development is a high voltage transmission line that will connect Mount Isa and the North West Minerals Province to the national... 

‘We need exploration to grow our industry’ – Minerals Council  

By: Martin Creamer     1st February 2021 “We need exploration to grow our industry,” Minerals Council South Africa president Mxolisi Mgojo said on Monday during a virtual State of the Mining Nation media briefing in which he described exploration as one of the low-hanging fruits that could change South Africa’s economic trajectory in... 

‘We need exploration to grow our industry’ – Minerals Council
Minerals Council South Africa media brief reporting by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.
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