Cobalt Mining News

Philippines miners opposed ban on ore exports

Manila Bulletin reported that the mining industry has urged government to encourage processing of mineral ore into high value added products by granting incentives but they opposed a plan to prohibit direct shipping of ore for exports.

Nautilus awarded exploration tenements in Eastern Pacific

Nautilus Minerals' (TSX:NUS)(AIM:NUS) Tongan subsidiary, Tonga Offshore Mining Ltd. ("TOML"), has become one of the first private sector organizations to be granted exploration licences in the highly prospective Clarion Clipperton Zone ("CCZ") of the Eastern Pacific. As a result of exploration conducted in the 1980s, the CCZ is known to host significant deposits of polymetallic nodules, which are golf ball sized nuggets, rich in copper, nickel, manganese and cobalt, lying on the seafloor in water depths starting at 4500 metres.

Critical minerals and materials

In this article I am going to take a look at three reports covering what the US and Europe consider critical or strategic minerals and materials.

Zambia: Mining company seeks partners

Mining company, Sandulula Mining Ltd., is seeking technical and equity funding partners to develop mines in Zambia. Investment opportunity: Mining company, Sandulula Mining Ltd., is seeking technical and equity funding partners to develop mines in Zambia

Vale's still the only firm offer – Metorex

South African miner Metorex said on Monday that it had still received no firm offer from any party other than Brazil's Vale, which has made a $1.1 billion offer for it.

Proto Resources receives mining lease in Tasmania

Proto Resources & Investments has received a mining lease from the Tasmanian Government for the firm's Barnes Hill project near Beaconsfield, Tasmania, for an initial period of 15 years.

Domestic spot cobalt prices fall further

Jinchuan Group cut refined cobalt prices from RMB 300 kt/mt to RMB 290 kt/mt, down by 3% and cut tricobalt tetroxide prices from RMB 212/kg to RMB 207/kg.

The difference 18 months has made

[miningmx.com] -- THE latest Metorex annual review – which covers the 18 months to end-December 2010 following a change to its financial year-end – is already out of date due to the pace of developments this year. But one comment from chairperson Rob

Proto Resources: Government grants mining lease for new Tasmanian project

The Directors of Proto Resources & Investments Ltd are pleased to announce that the Tasmanian Government has granted Mining Lease ("ML") 1872P/M over the area of the company's Barnes Hill project near Beaconsfield.

China’s Jinchuan mulls bid for Metorex

Jinchuan Group Ltd., China's dominant nickel producer, may be the secret bidder for South African miner Metorex , the Business Day reported on Wednesday. Metorex, attractive due to its copper and cobalt operations in Africa, said earlier this month it had received an interest from another unnamed party after an earlier $1.1 billion bid from Brazil’s Vale .

Pitchstone finalizes summer Athabasca drilling plans

Pitchstone Exploration Ltd. ("Pitchstone") has finalized plans for summer exploration activities in the eastern Athabasca Basin, Saskatchewan. Work will include 2,250 meters of diamond drilling at Gumboot and Johnston Lake, plus 2,000 meters of diamond drilling at Wolverine. Additionally, Pitchstone has recently staked three new claims in the eastern Athabasca Basin.

Vale could square off against Chinese miner for Metorex

Market sources indicate a serious Chinese contender has finally decided to make a bid for Metorex, in opposition to Vale’s $1.1bn cash offer for the South African company. There has been speculation in the market over such a development since the Vale bid was announced in mid-April, with Jinchuan Mining singled out as the most likely bidder. Jinchuan is the company which now controls Wesizwe Platinum after heading up a Chinese consortium which paid some $940m for 51% of Wesizwe.

Baja says Boleo project on schedule

Mining Weekly reported that Baja Mining’s (TSE:BAJ) copper/cobalt/zinc project in Mexico is progressing on schedule. The market news is quoted as saying: “The Boleo project is currently meeting its scheduled milestones, with environmental compliance and surface mining activities continuing in targeted areas, the processing plant and road earthworks well underway, in addition to the site camp, utilities and services being finalized,” the company said in a statement.

New 50% bigger Kalukundi copper/cobalt project study awarded

South Africa's MDM Engineering Group has been awarded the increased throughput design update and cost revalidation of the Bankable Feasibility Study (BFS) for Africo Resources' Kalukundi copper/cobalt project, located in the Katanga Province of the Democratic Republic of Congo (DRC), which borders Zambia to the south. In May 2006 MDM completed a BFS, based on a throughput of 800,000 tonne/year plant, on the Kalukundi project.

Glencore shares dip on results, bid denial

Commodities trader Glencore (GLEN.L: Quote) is not considering a bid for embattled miner ENRC, its chief executive said, dismissing reports of a takeover after it disappointed the market with its maiden frst-quarter results. Shares in the world's largest diversified commodity trader dropped 2 percent as weaker-than-expected results from its metals and mining trading unit held back its operating profit.

Zambia copper output down – see IM article in July

Africa’s largest copper producing nation saw output fall back over the first four months of 2011, compared with a year ago. Cobalt output and exports rose though. A complete article on the Zambian Copperbelt will […]

Baja Mining starts surface mining at Boleo project, Mexico

Baja Mining Corp. (TSX:BAJ) is pleased to announce the commencement of surface mining activities at its 70% owned Boleo copper-cobalt-zinc project ("Boleo"), located near Santa Rosalia, Baja California Sur, Mexico. Beginning in the week commencing May 2, 2011, the Company's surface mining team completed an initial machine operator training program and commenced mining activities to develop the surface facilities and underground mining portals that are scheduled for operation later this year.

Sherritt's Q1 earnings up 116% to $63.6 million

Sherritt's Q1 earnings rose 116% over the same quarter a year ago. The company reported net earnings on Thursday of $63.6 million or 22 cents a share. A year ago, the company reported only $29.4 million in net earnings or 10 cents a share. The company's sales volumes were up slightly. Sherritt's sales volumes of nickel, reported in thounsands of pounds, was 9,438 in 2011 and 9,392 in 2010, less than a one per cent increase.

We have a duty to consider any serious offer – Metorex

South African miner Metorex (MTXJ.J: Quote) said on Monday that if there were any other serious offers to acquire it aside from one launched by Brazil's Vale (VALE5.SA: Quote) it would have to consider them. "If there are other serious and 'firm' offers for Metorex, the company has a duty to consider them and will of course consider any such offers in the best interests of its shareholders," Metorex CEO Terence Goodlace said in an e-mailed response to questions submitted by Reuters.

Formation Metals Inc. completes $80 million equity financing

Formation Metals Inc. (TSX:FCO) (the "Company") is pleased to announce it has completed the equity financing (the "Financing") announced on January 27, 2011 in the full amount for gross proceeds of $80,000,000. The Financing was […]

Sherritt expecting production declines in Cuba this year

Canadian mining and energy company Sherritt is expecting production declines in Cuba in 2011, Cuba Standard reported: Sherritt, Cuba’s largest foreign investor, said in its fourth-quarter financial report that it expects moderate production declines in […]

Philippines hoping for a Colombia-like repeat in its mining sector

There are more than a few explorations companies drilling holes in the Philippines these days, all with the quiet hope that the country soon finds favour with serious resource investors in the much the same way that Ventana Gold and others became overnight rock stars, if you will, with their projects in Colombia.

Zinc, cobalt grabbing some ‘green’ traction

Zinc and cobalt often fall into that esoteric metals category called byproduct, meaning they are generally an afterthought for miners who are keen at getting at, say, nickel or copper deposits. Still, both metals are being increasingly targeted for their use in growing markets, such as rechargeable batteries for electric cars.

Outotec technology for First Quantum nickel, copper, cobalt and gold projects

Outotec has agreed with the First Quantum Minerals Limited Projects Office based in Perth, Australia, for the delivery of flotation, thickening and automation technologies for several of its operations around the world.  Read more at http://www.mineweb.com/mineweb/view/mineweb/en/page72558?oid=104743&sn=Detail

Congo-produced copper, cobalt to more than double over next two years – government

Copper and cobalt production from Democratic Republic of Congo will more than double over the next two years, signalling a surge in revenues, according to a government forecast obtained by Reuters on Monday. Read more […]