Copper Mining News

Kimberley Metals restarting NSW copper mine

Precious and base metals developer Kimberley Metals on Monday said that it was on track to deliver first copper production from its Mineral Hill mine, in New South Wales, by early July.

New dust suppression products for the mines

aimex-tecpro.jpg Tecpro Australia will unveil innovative new dust suppression products for the mining industry on Stand R176 during AIMEX - Asia-Pacific’s mining exhibition 2011, to be held at Sydney Olympic Park, Homebush, from September 6-9. On show for the first time in Australia will be the Elefante and Giraffa fog makers from Italian company Idrotech. They [...]

Silver Pursuit Resources Ltd.: drilling commences at Luz Project, Mexico

Silver Pursuit Resources Ltd. says diamond drilling will commence imminently at its LUZ property, located 50 km north of Alamos in Sonora, Mexico.

Iberian Minerals announces closing of $76 million financing

Iberian Minerals Corp. today announced that it has closed its previously announced underwritten offering of 84,444,500 registered shares at a price of $0.90 per share for gross proceeds of $76,000,050. The shares sold today included the exercise in full of a 15% over-allotment option previously granted to the underwriters.

Northgate Minerals provides update on construction and exploration activities at Young-Davidson

Northgate Minerals Corporation is pleased to provide an update on the progress of building its 100% owned Young-Davidson mine located near the town of Matachewan, in northern Ontario.

Western Copper announces intention to spin out assets to shareholders

Western Copper Corporation announced that its Board of Directors has unanimously approved a proposal to undertake a spin-out transaction that would reorganize the business and capital structure of the Company into three separate public companies to allow Western Copper to focus on the development of its flagship Casino copper/gold/silver/molybdenum project.

Ex-congressman must face copper project related corruption charges

Former Arizona congressman Richard Renzi must face public corruption charges over allegations that he coerced a mining company into buying land from one of his former business partners, a U.S. appeals court ruled on Thursday. Renzi was elected to the U.S. House of Representatives in 2002.

GGG extends offer for Auzex Resources

GGG Resources plc (GGG) has today announced that it has extended its off-market takeover offer for all of the ordinary shares in Auzex Resources Limited (Auzex) so that it will now close at 5.00pm (Perth time) on 4 August 2011.

Redbank Copper – Teams up with CSIRO for NT copper exploration

Redbank Copper Limited (ASX: RCP) is pleased to advise that it has secured the participation of Australia's CSIRO in a new joint exploration and research initiative at its flagship 100%-owned Redbank Copper Project in the Northern Territory.

Copper – the most critical of critical metals

The world needs copper, and lots of it. Output of the red metal has already doubled in the last 16 years, however, according to Jack Lifton, founder of Technology Metals Research, this output needs to double again; a feat that is going to be a very big challenging.

Nyrstar formally commences $619mn bid for Breakwater Resources

As Nyrstar Resources Canada formally commenced its bid for Breakwater Resources, Breakwater's board declared a special dividend of C$0.50 for its shareholders.

Western Copper to spin out assets into three public companies

Western Copper Corporation (TSX:WRN)(NYSE Amex:WRN) announced that its Board of Directors has unanimously approved a proposal to undertake a spin-out transaction that would reorganize the business and capital structure of the company into three separate public companies to allow Western Copper to focus on the development of its flagship Casino copper/gold/silver/molybdenum project.

'US economy could be one of the big surprises in H2' 2011 – SocGen

In its latest Quarterly Commodities Review, Société Générale takes the view that , at a "time of significant doubt for the outlook for the global economy" the recovery is sustainable and the bank is looking for a stronger second half-year. Headwinds persist, however, and the recovery in the advanced economies is likely to remain relatively sluggish.

Teck receives regulatory approval for share buy-back program

Teck Resources has been informed that the Toronto Stock Exchange has accepted Teck's notice of intention to make a normal course issuer bid in respect of up to 40 million Class B

Huguette Clark, Reclusive Heiress, Leaves Bulk Of $400 Million Fortune To Art Charity, Nurse

Huguette Clark spent the last 20 years of her life living in almost total isolation. She had cut off all contact with her family, preferring instead the company of her collection of dolls. In addition to being a recluse, Clark was also a very wealthy woman. The heiress to a Montana copper mining concern, she owned a 42-room apartment on New York's Fifth Avenue, an oceanfront estate in Santa Barbara, California and a country manor in Connecticut.

Significant copper mineralization discovered in maiden Glenburgh drilling

Aurora Minerals Limited (ASX:ARM) is pleased to announce preliminary assay results from its Glenburgh Project. The Glenburgh Project consists of 12 granted exploration licences and one application and is located in the Gascoyne Metamorphic Complex of central Western Australia.

Commodities fall most in seven weeks

Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies.Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce.

Does nickel price fall foreshadow copper price performance?

Is this year's worst-performing LME metal a canary in the coal mine for copper? And is there any hope in sight for nickel prices? New York (Hard Assets Investor)

Historic copper prices may be on horizon as inventories drop to critical levels–RBC

RENO, NV - In the latest issue of Metal Prospects, H. Fraser Phillips, RBC metals analyst, noted, "The copper market remains tighter than the other base metals. Inventories are relatively low, there is little excess mine capacity, and utilization rates

Burned by sub-prime, banks turn to resource sector for profits

Data out this week show the likes of Goldman Sachs and JP Morgan raking in record revenues of almost $1bn/month in commodity and other trading revenue. A recent study of mining mergers and acquisitions shows the proportion of financial firms – as opposed to other miners – taking over resource companies had increased fourfold. And perhaps the most significant indication that US banking practices honed in the property markets have arrived in minerals is news that star metals traders now command pay as high as $3 million/year.

Mutiny Gold Limited (ASX:MYG) Announce Significant High Grade Gold Drill Results from Deflector Deposit

Mutiny Gold Limited (ASX:MYG) ("Mutiny" or the "Company") is pleased to announce that its ongoing exploration program has delivered significant new high grade gold intersections to the North and South of existing resources at the Company's Deflector Gold Deposit. The most northerly hole drilled as part of the current program, drill hole 11DRC063, which was located 140 metres north of the new high grade discoveries and 270 metres to the north of the current resource boundary, delivered an encouraging result of 3m at 9.9 g/t highlighting the potential that remains along strike at Deflector.

Colibri reports more drill results at Ramard; 311 grams per tonne silver, 2% lead, and 3.4% zinc between 37 and 38 meters depth, plus multiple intervals of silver-lead-zinc.

Colibri Resource Corporation reports final results from a 2400 meter drill program at the Ramard silver project, in Sonora, Mexico. The Ramard property consists of over 4000 hectares of mineral concessions located 100 km north of the city of Hermosillo, Sonora, wholly owned by Colibri's Mexican subsidiary, Minera Halcones. The Ramard property contains numerous historical artisanal silver mine workings.

Golden Cross visualises a staged commissioning of Copper Hills

Explorer, Golden Cross Resources, (ASX: GCR) has told shareholders that it is looking to start up its Copper Hills project in New South Wales in a staged build up of development to minimise up-front costs. The company plans to develop Copper Hills near Molong on an initial mining rate of between 2-3 million tonnes per annum, and a staged build-up that could see selective high grade mining and low grade stockpiling in the early years.

Ivanhoe Mines to receive US$502 million from Rio Tinto's exercise of all outstanding warrants to advance construction of Oyu Tolgoi copper-gold-silver mining complex in Mongolia

Ivanhoe Mines' Chief Executive Officer Robert Friedland announced today that the company expects to receive US$502 million from Rio Tinto later today following Rio Tinto's decision to exercise all remaining share-purchase warrants that it holds in Ivanhoe Mines.

Papuan precious metals KUD001 intersects targeted hydrothermal Breccia

Papuan Precious Metals Corporation announces that drilling is continuing at the Kuliuta gold-copper prospect, which is testing both the near surface gold potential, in addition to the deeper copper porphyry potential. The program has been expanded from four holes to a total of six with completion expected before the end of July.