Base Metals Mining News

Chile’s Codelco dismisses rumoured 40% copper output drop at Chuquicamata

The state-owned copper miner said that since mining at the open-pit mine ends in 2020, which is when the underground section begins commercial operations, it will able to keep productive capacity unchanged.

Zambia's Chamber of Mines just deepened worries of sinking global copper output

Copper output in Africa’s second largest producing country could decline by as much as 100,000 tonnes this year, adding to recent, sharp declines at the world’s main producing nations.

Newcrest starts drilling at Greatland Gold’s project in Western Australia

The farm-in deal gives Newcrest the option to acquire 70% of the project by spending $65 million on exploration and development over five years.

Canada injects $325K into ‘climate change adaptation’ for mining sector

Mining Association of Canada (MAC) will be in charge of developing program to give miners tools and knowledge needed to better plan for climate change.

Billionaire Friedland close to deal with BHP on Guinea iron ore

If successful, talks will see him move to develop the Nimba deposit on Guinea’s border with Liberia, which has sat undeveloped for years.

Poland’s KGHM hits production record, expects Sierra Gorda to exceed target

Europe's second-largest copper producer also posted its best quarterly results in the last three years, with revenue rising by PLN 1.2 billion (about $312 million).

Rio Tinto’s iron ore mine expansion gets environmental nod

Approval is subject to conditions, including the protection of national park water resources and endangered ghost bats.

Turquoise Hill’s role in Oyu Tolgoi-related decisions may change this week

SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill is expected to vote against the re-election of the Canadian miner’s board members this week.

Old boys' club LME appoints first female chair in its history

Gay Huey Evans, one of the best-known women in European finance, will replace Brian Bender when he retires from the board in December.

Chile's Codelco kicks off underground mining at Chuquicamata

More than 8,000 tonnes of ore have already been extracted since early April.

Trade wars, metals, and you

Geopolitical risk, geopolitical turmoil, the threat or the idea of such is always good for gold.

Moody's bullish on base metals, US steel

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. 

INFOGRAPHIC: Best, brightest CEOs in mining

Who were the top earners in 2013?

Ivernia announces appointment of Wayne Richardson as president and CEO

Ivernia announced that the company and its wholly owned, Rosslyn Hill Mining subsidiary have entered into management services agreements with Enirgi Group and its wholly owned affiliate Enirgi Metal Group.

Old ore mining yields clues to early life

A team of scientists have provided new insight into how ancient metal-ore deposits can be used to better understand the chemistry of the ancient oceans and, as a consequence, the early evolution of life.

Australian miners find new ways of getting buzzed

Australian miners in the western part of the country are allegedly turning to a new version of the synthetic drug known as Venom, which is made with chemicals imported from China.

Equity financings for gold companies hit four-year low

Halifax-based Metals Economics Group (MEG) published Thursday its Pipeline Activity Index (PAI), which shows equity financing conditions continue to take their toll, as gold companies were able to raise only $445 million through equity placements in May-June—the lowest two-month total since late 2008.

Jubilee abandons chrome acquisition, but still on the prowl

JSE- and Aim-listed Jubilee Platinum said on Friday it had abandoned plans to acquire a chrome company, as the security of the target’s mineral rights could not be guaranteed.

Go long on base metals, short on precious metals: Ashok Mittal, Vertex Securities

The downside on the precious metals should continue and we expect gold to go somewhere close to $1,472 levels.

LME expands steel delivery to Italy as volumes rise 46%

The London Metal Exchange has approved Ravenna as the latest point of good delivery for non domestic LME Steel Billet, with effect from September 16th 2011. The addition of the Italian port will enhance the contract’s warehousing network in Europe, encouraging the steel industry to further utilise the contract. LME Steel Billet is now listed in 12 locations in seven countries.

First decline in 2 years in Chinese car sales worries zinc market

Reuters reports that zinc prices ended May slightly firmer, recovering from an early rout but the prospect of a sizeable supply surplus this year and next will continue to weigh on the market, especially if other metals weaken. Ms Claire Hassall of consultancy CHR Metals said that market watchers were concerned about weakness in the Chinese economy. The general feeling is that demand is not particularly strong in China at the moment using latest car sales figures as an illustration of the source of these worries.

Castillian Nickel spin-out starts Tanzania drill program

Castillian Resources Corp. listed on the TSX Venture market announced on Monday that Kibaran Nickel Limited an ASX listed company has started a 3,000 metre drill program at its Kagera Nickel Project located in Tanzania. In October 2010, Castillian and Kibaran entered into an agreement whereby Kibaran acquired a 100% interest in the Kagera Nickel Project from Castillian. Castillian has gold and base metal properties in Canada and South America — its flagship property is the Hope Brook Gold Project located in southwestern Newfoundland.

Canadian M&A deal volume to grow led by base metals miners

Miners, especially of base metals, will drive Canadian merger and acquisition activity for the rest of 2011, although oil and gas and financial services will also be significant, bankers said on Tuesday.

Hudbay raises Augusta Resource Corp stake to 14%

Canadian base metals miner HudBay Minerals Inc raised its stake in Augusta Resource Corp to 14.3 percent by buying 5.4 million more shares in the company for C$21.3 million. HudBay now holds 20.2 million shares of Augusta Resource, up from about 14.8 million earlier, the company said on Monday.

Eurasian Minerals Completes Final Tranche of CAD $17.875 Million Private Placement

Eurasian Minerals Inc. has completed the final tranche of its CAD$17.875 million private placement by the sale of 3,039,000 units for proceeds of CAD $9,876,750. Each unit, priced at CAD$3.25, consisted of one common share […]