R/€ = 17.37 Change: -0.07
R/$ = 14.61 Change: -0.08
Au 1743.98 $/oz Change: -1.45
Pt 1204.50 $/oz Change: -29.50

Base Metals News

Zambian court denies Vedanta attempt to halt Konkola Copper Mines split

By: Reuters     1st February 2021 A Zambian court on Monday dismissed a motion by miner Vedanta Resources' seeking to stop a state-appointed provisional liquidator from splitting up its Konkola Copper Mines (KCM) unit and selling the assets. The ruling is a blow to the Indian-owned mining company which has said it would fight any... 

Consultants selected for road connecting to Ring of Fire

By: Creamer Media Reporter      1st February 2021 Consultants SNC Lavalin and Dillon Consulting have been selected to conduct the environmental assessment (EA) for the northern road link project – a proposed all-season road that will link remote First Nations and connect to emerging mining sites in the Ring of Fire. Marten Falls First Nation... 

Nickel Mines hopes for a bigger stake in Angel

By: Esmarie Iannucci     1st February 2021 ASX-listed Nickel Mines has completed the first stage if its investment in the Angel nickel project, in Indonesia, acquiring a 30% interest, making plans to increase its ultimate shareholding from 70% to 80%. Nickel Mines on Monday said that after receiving shareholder approval on January 19 for... 

New Century's output drops

By: Esmarie Iannucci     29th January 2021 Zinc miner New Century Resources has reported a 4% drop in production from its namesake project in Queensland, during the quarter ended December. The miner on Friday announced that zinc production for the three months to December had reached 32 400 t, down from the 33 600 t produced in the... 

Turquoise Hill seeks interim order in Rio Tinto arbitration

By: Mariaan Webb     29th January 2021 Canada-listed Turquoise Hill said on Thursday that it had applied for an interim order in its arbitration proceedings with controlling shareholder Rio Tinto, stating that the major’s actions would limit its ability to pursue financing options for the Oyu Tolgoi project, in Mongolia. The junior... 

Turquoise Hill seeks interim order in Rio Tinto arbitration

Peru to allow mining during new coronavirus lockdown

By: Reuters     29th January 2021 Peru, heading into a new lockdown to stem a rising wave of Covid-19 infections, will allow key industries such as mining to continue, a boost for copper miners in the world's second-largest producer of the metal. Large swathes of Peru, including capital Lima, will return to strict restrictions... 

Peru to allow mining during new coronavirus lockdown
The Las Bambas mine

Oz Minerals gives the go-ahead at Carrapateena

By: Esmarie Iannucci     29th January 2021 Copper/gold miner Oz Minerals has approved the block cave expansion at its Carrapateena operation in South Australia, while reporting increased production for the December quarter. MD Andrew Cole on Friday announced that the Oz Minerals board had approved progressing the Carrapateena block cave... 

Oz Minerals gives the go-ahead at Carrapateena

Botswana copper development on track

By: Darren Parker     29th January 2021 Despite some Covid-19 setbacks, the development of the 3.65-million-tonnes-a-year Khoemacau copper/silver project, in north-west Botswana, is progressing well, Khoemacau Copper Mining CEO Johan Ferreira tells Mining Weekly. In the first quarter of 2020, fourteen months after the launch of the... 

Botswana copper development on track
JOHAN FERREIRA The impact of Covid-19 will lead to a modest delay in the completion of the refurbishment and upgrade of the Boseto processing plant

ICMM announces equivalency benchmarks

29th January 2021 Last month, the International Council on Mining and Metals (ICMM), an international organisation dedicated to a safe, fair and sustainable mining and metals industry, published a series of equivalency benchmarks that compare the requirements of ICMM’s Mining Principles with several mining and... 

As miners gear up for virtual shindig, commodities offer hope amid pandemic gloom

By: Nadine James     29th January 2021 Despite the ongoing uncertainty caused by the global Covid-19 pandemic, the mining industry continues to play a crucial role in the global economy, proving how resilient and adaptable it is, says international exhibition organiser Hyve Group. The mining sector has fared reasonably well during the... 

As miners gear up for virtual shindig, commodities offer hope amid pandemic gloom

Anglo reports strong fourth-quarter performance at Los Bronces, Minas-Rio

By: Creamer Media Reporter      28th January 2021 The strong performance recovery in the second half of 2020 continued in the fourth quarter of the year, says diversified miner Anglo American CEO Mark Cutifani.  "As expected, second-half production returned to 95% of 2019 rates, benefiting from strong performances in copper at Los Bronces, in... 

Anglo reports strong fourth-quarter performance at Los Bronces, Minas-Rio
Mark Cutifani

Forrestania still struggling - Lougher

By: Esmarie Iannucci     28th January 2021 Operational challenges at ASX-listed Western Areas’ Forrestania operations have continued to impact results during the December quarter, with the company reviewing its production and cost guidance for the 2021 financial year. Mined nickel production fell from the 4 147 t reported in the... 

Wolfden raises C$2m from Altius and Kinross

By: Mariaan Webb     28th January 2021 Explorer and developer Wolfden Resources has raised C$2-million from Altius Minerals and Kinross Gold, which now hold about 12.6% and 11.4% of the issued and outstanding shares of the company. The proceeds of the C$0.32-a-share offering would be used to continue exploration at the Pickett... 

Wolfden raises C$2m from Altius and Kinross
Picket Mountain

Four mining companies adopt Mining Local Procurement Reporting Mechanism

By: Donna Slater     27th January 2021 Mining Shared Value (MSV), a nonprofit initiative of Engineers Without Borders Canada, reports that four mining companies have, so far, adopted the Mining Local Procurement Reporting Mechanism (LPRM), with two more confirming their plans to do so shortly. Ivanhoe Mines became the first company... 

Afrimat disposes of restructured UCP, but retains ownership of Nkomati

By: Simone Liedtke     27th January 2021 Industrial minerals and construction materials company Afrimat will sell the restructured Unicorn Capital Parents (UCP), which no longer holds a direct interest in the Nkomati anthracite mine. Afrimat last year acquired embattled UCP in order to take full ownership of the Nkomati mine, in which... 

Freeport sees rising copper demand boosting 2021 results

By: Reuters     27th January 2021 Freeport McMoRan posted a quarterly profit on Tuesday that narrowly beat analysts' estimates on rising production and prices for copper and gold, with executives forecasting continued growth for 2021. Copper sales and prices have jumped in recent months as parts of the world - China especially -... 

Freeport sees rising copper demand boosting 2021 results
Freeport CEO Richard Adkerson

First Quantum copper output hits record

By: Donna Slater     26th January 2021 TSX-listed First Quantum Minerals has achieved its highest ever yearly copper production, with output rising by 11% to 779 000 t in 2020. The company reported record-breaking production at Sentinel, in Zambia, and said that its other operations were resilient, particularly Cobre Panama, in... 

Sibanye boosts investment in tertiary education 

By: Simone Liedtke     26th January 2021 Dual-listed Sibanye-Stillwater has committed to invest a further R33-million in tertiary education aimed at bolstering mining research and development in South Africa. The gold and platinum miner has extended and increased its existing partnerships with the University of Johannesburg (UJ) and... 

Green technology boost for African mining 

By: Martin Creamer     26th January 2021 The key to unlocking value of Kabanga Nickel and enabling the full beneficiation of new era metals in Tanzania is an environment-friendly hydrometallurgy process that eliminates smelting and thus slashes the need for electricity. The Kabanga Nickel Hydromet process – which takes ore to refined... 

Green technology boost for African mining
President John Magufuli of Tanzania, seated, looks on as Tanzania's Chief Treasurer Athumani Mbutukwa receives share certificates from Kabanga Nickel vice chairperson Chris von Christierson (centre) and Kabanga Nickel CEO Chris Showalter (right).

Rambler to step up copper output this year

By: Marleny Arnoldi     26th January 2021 Aim-listed Rambler Metals and Mining has produced 3 769 t of saleable copper for the full year ended December 31, 2020, despite scaling back operations to 50% capacity in March. In response to the collapse of the copper price in March last year, Rambler scaled back operations and cut production... 

Tulu Kapi financing on track; drilling commences at Hawiah

By: Donna Slater     25th January 2021 Aim-listed gold and copper explorer and developer Kefi Minerals reports that financing for its Ethiopia-based flagship Tulu Kapi gold project remains on track, with the project finance consortium expecting to achieve financial close in March. Production is expected to start in the fourth quarter... 

Orion Minerals starts 2021 on a positive note following encouraging drilling results 

By: Simone Liedtke     25th January 2021 Dual-listed Orion Minerals has started 2021 on a positive note with an encouraging set of results from its high-impact exploration drilling programmes targeting near-mine and regional volcanogenic massive sulphide (VMS) copper/zinc and nickel/copper targets around its flagship Prieska copper/zinc... 

Sumitomo to book additional 30bn yen impairment on Madagascar nickel project

By: Reuters     25th January 2021 Japan's Sumitomo Corp said on Monday it will book an additional impairment loss of about 30-billion yen on its Ambatovy nickel project in Madagascar for the October to December quarter to reflect the revised output plan. The Japanese trading house, which owns a 54.17% stake in the project, posted... 

Silver Elephant acquires nickel project in Thompson belt

By: Mariaan Webb     25th January 2021 Toronto-listed Silver Elephant has high hopes and aspirations for its new Minago project, in Manitoba, which could supply the “insatiable” demand for Class 1 nickel from the electric vehicle (EV) industry. The company announced on Friday that it had entered into a binding agreement to acquire... 

Silver Elephant acquires nickel project in Thompson belt

Nickel Mines hit record highs

By: Esmarie Iannucci     25th January 2021 ASX-listed Nickel Mines has reported a 7.7% increase in quarterly production from its Indonesian rotary kiln electric furnace (RKEF) projects for the three months to December, with attributable production reaching a record high. RKEF production during the quarter reached a record 11 527 t during... 

Deep-South ‘well-funded’ to continue development of Namibian copper project

By: Simone Liedtke     22nd January 2021 TSX-V-listed Deep-South Resources has closed its nonbrokered private placement for $4.6-million. President and CEO Pierre Leveille commented on the strong demand, which led to the financing, and confirmed that the company had recently completed a preliminary economic assessment. 

Developer of Alaska's Pebble mine files appeal over permit rejection

By: Reuters     22nd January 2021 Diversified Canadian miner Northern Dynasty Minerals said on Thursday its US subsidiary Pebble Limited Partnership has filed an appeal with the US Army Corps of Engineers (USACE) over its decision to deny a key water permit for the contentious Pebble mine, in Alaska. The USACE denied the Clean... 

Developer of Alaska's Pebble mine files appeal over permit rejection
Pebble Mine Partnership CEO John Shively

Blackstone advances metal talks with Trafigura

By: Esmarie Iannucci     22nd January 2021 Commodities trading group Trafigura has signed a letter of interest (LoI) with junior Blackstone Minerals to potentially supply quantities of nickel and cobalt products that would allow Blackstone to produce products for the lithium-ion battery industry at its Ta Khoa nickel project, in Vietnam.... 

'The bucket is leaking': Zambia opposition leader denounces debt-funded Mopani deal

By: Reuters     22nd January 2021 Zambia's main opposition party leader Hakainde Hichilema criticised the government's deal with Glencore on Thursday, comparing the economy to a leaky bucket broken by debt. The state mining investment arm ZCCM-IH agreed on Tuesday to take on $1.5-billion in debt in exchange for full control of... 

Global copper smelting rises in December, driven by China

By: Reuters     21st January 2021 Global copper smelting activity climbed in December, led by top producer China, while North America extended its decline as coronavirus cases surged, data from satellite surveillance of copper plants showed. Europe dipped slightly, but its copper smelting activity remained strong, satellite... 

Xtract raises £5m for exploration, project development

By: Simone Liedtke     21st January 2021 Brownfield mine developer Xtract Resources’ broker, Novum Securities, has conditionally raised £5-million, before expenses, following the placement of over 111-million ordinary shares. The placing shares represent 17.9% of the current issued ordinary share capital of Xtract. 

Cruz Cobalt to start operations at Ontario cobalt projects

By: Simone Liedtke     21st January 2021 Cobalt-focused Cruz Cobalt intends to start operations at its cobalt projects in Ontario, Canada. Cruz is one of the largest landholders in the historic silver/cobalt producing region of Cobalt, Ontario, and the company's projects are in the direct vicinity of TSX-V-listed Fuse Cobalt and... 

Nagorno Karabakh ceasefire opens region for Anglo Asian to possibly return to projects

By: Donna Slater     21st January 2021 Aim-listed central Asia gold, copper and silver producer Anglo Asian Mining welcomes the agreement between Armenia, Azerbaijan and Russia which has ended the military conflict over the enclave of Nagorno Karabakh, subsequently opening up the region for the miner to restore its three contract... 

W Resources continues improvements at Spanish project

By: Simone Liedtke     21st January 2021 Plant improvements at tungsten, tin and gold miner W Resources’ La Parrilla project, in Spain, should be completed early next month. During the quarter ended December 31, the plant continued to work a four-day week. Operations moved to a five-day working week earlier this month and the plan is to... 

Lundin continues improvement trend in 2020

By: Simone Liedtke     21st January 2021 Diversified Canadian base metals miner Lundin Mining met its production guidance for all metals for the 2020 financial year, ended December 31, with copper production standing out at 230 781 t. Gold production exceeded guidance, reaching 163 000 oz. 

Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction 

By: Reuters     21st January 2021 Zambia's mining investment arm ZCCM-IH said it expects to find a new investor for Mopani Copper Mines by the end of the year, as the International Monetary Fund looks into Zambia's deal with Glencore, Mopani's majority stakeholder. Zambia became Africa's first pandemic-era sovereign default in... 

Copper output may suffer if pandemic drags on, Chile group says

By: Bloomberg     21st January 2021 Top copper producer Chile managed to navigate the pandemic disruptions that stalled mining in other countries, churning out more metal last year than in 2019. That helped keep Chinese refineries supplied at a time of market tightness and high prices. But while Chile is well prepared to operate... 

Copper output may suffer if pandemic drags on, Chile group says

Copper mineralisation found through 940 m of first-hole drilling at Bushranger

By: Donna Slater     20th January 2021 Drilling of the first of three holes at Xtract Resources’ Bushranger copper/gold exploration project, in Australia, has thus far found copper mineralisation at a depth of 110 m, with mineralisation continuing over a 940 m interval to about 1 050 m depth, 235 m past the original planned finishing... 

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