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Gécamines says was forced to seek dissolution of Katanga’s Kamoto

By: Anine Kilian     Updated 1 hour 29 minutes ago State-owned La Générale des Carrières (Gécamines) says it was forced to take legal action to dissolve TSX-listed Katanga Mining’s Kamoto Copper Company (KCC) for failure to restore shareholders’ equity within the legal time period. The State-owned miner has initiated court proceedings to seek the... 

Anglo reports 4% increase in Q1 production

By: Anine Kilian     Updated 3 hours ago Diversified miner Anglo American on Tuesday reported a 4% year-on-year increase in total production on a copper equivalent basis in the first quarter ended March. The company had a “solid start to 2018”, despite the suspension of operations at the Minas-Rio mine, in Brazil, CEO Mark Cutifani said. 

Moody's changes outlook on Glencore's ratings to positive from stable

By: Nadine James     Updated 5 hours ago Moody's Investors Service has assigned Glencore a ‘Baa2’ long-term issuer rating with a positive outlook. Moody’s says Glencore's improved credit profile was driven by higher commodity prices and consistently low production costs.  

Doray hits record quarter at Deflector

By: Esmarie Swanepoel     24th April 2018 Gold miner Doray Minerals has reported record quarterly production from its Deflector mine, in Western Australia, exceeding company expectations. Gold production during the March quarter reached 18 551 oz, with 966 t of copper also produced. This compared with the 16 810 oz of gold and 833 t of... 

Chile's Copec to buy stake in copper project in Peru

By: Reuters     24th April 2018 Chilean industrial conglomerate Empresas Copec said on Monday it had reached an agreement with Peru's Minsur to buy a 40% stake in a holding company that owns a Peruvian copper mine project for $168.5-million. Minsur will retain 60% ownership in Cumbres Andinas, the company that controls the... 

Barrick beats Q1 earnings call; halves debt in 3yrs

By: Henry Lazenby     24th April 2018 Canadian mining major Barrick Gold's Porgera Joint Venture mine, in Papua New Guinea, is still operating at only 25% of capacity following a 7.5 magnitude earthquake that struck the island on February 26, the company announced on Monday in its first-quarter earnings release. The earthquake... 

LME plans nickel closing price experiment

By: Reuters     23rd April 2018 The London Metal Exchange (LME) is planning to move end-of-day pricing of the benchmark three-month nickel contract from open outcry to its electronic trading platform for a trial period, LME chief Matt Chamberlain said on Monday. The temporary move is designed to test the practicality of... 

Ivanhoe reaches Platreef Shaft 1 milestone 750 m below surface

By: Henry Lazenby     23rd April 2018 Blockbuster mine developer Ivanhoe Mines has reached a significant development milestone at its Platreef platinum/palladium/ gold/nickel/copper discovery on the northern limb of South Africa’s Bushveld Complex, after Shaft 1 has reached a depth of 750 m. Lateral development will take place from... 

First Centenera drill hole hits strong Cu/Au mineralisation at Esperanza

By: Henry Lazenby     23rd April 2018 The maiden drill hole at junior explorer Centenera Mining's Esperanza project, in Argentina, has hit strong copper and gold mineralisation from surface to about 166 m. The Vancouver-based company reported the results of the first 166 m of the 387-m-deep drill hole 18-ESP-025, returning 166 m... 

Industry hopeful that DRC mining code issues can be resolved

By: Simone Liedtke     23rd April 2018 Mining companies operating in the Democratic Republic of Congo (DRC) are hopeful that their current engagement with civil society and other key interest groups will contribute to a better understanding of certain issues that need to be dealt with before the country’s new mining code is... 

Gécamines starts legal proceedings to dissolve Katanga’s Kamoto Copper Company

By: Simone Liedtke     23rd April 2018 State-owned La Générale des Carrières et des Mines (Gécamines), TSX-listed Katanga Mining’s joint venture (JV) partner in the Kamoto Copper Company (KCC), in the Democratic Republic of Congo (DRC), has begun legal proceedings to dissolve KCC. This follows KCC’s failure to address its capital... 

Atalaya completes prefeasibility study on Spain copper project

By: Mariaan Webb     23rd April 2018 A prefeasibility study (PFS) has found that the Proyecto Touro copper project will be profitable, validating Aim- and TSX-listed Atalaya Mining’s initial interest in the brownfields development in north-west Spain. Based on a long-term copper price of $3/lb, the Touro project has an after-tax... 

Newcrest gets approvals for tailings plan

By: Esmarie Swanepoel     23rd April 2018 Gold miner Newcrest Mining has been given approval to use the first 200m of the old Cadia Hill openpit operation, in New South Wales, as a tailings storage facility. The Cadia Hill openpit would be used in lieu of the Northern tailings facility, where a breakthrough of tailings material was... 

Apollo plans IPO for Constellation subsidiary

By: Esmarie Swanepoel     23rd April 2018 ASX-listed junior Apollo Minerals announced plans to list its Fraser Range nickel/copper and gold assets on the Australian bourse through an initial public offering (IPO). The separate listing of Apollo’s subsidiary Constellation Resources, would allow the company to focus its efforts on its... 

Cochilco forecasts Chile's 2018 copper output up 4.3%

By: Reuters     21st April 2018 Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76-million tonnes of the red metal in 2018, up 4.3% from 2017, while estimating copper prices at $3.06 per pound this year. The projections follow a difficult year for the world's top copper producer in 2017, after... 

Latin America the leading region in new global wave of exploration

By: Rebecca Campbell     20th April 2018 Worldwide, the mining industry has been recovering from the slump that started in 2012. “After a challenging 2013/14 when the prices of commodities plummeted across the board, 2016 and 2017 have seen resurging prices for aluminium, copper, zinc, nickel, lead, palladium and, more modestly, gold,”... 

Phoenix Global PEA lifts Idaho-based Empire mine output 16%

By: Henry Lazenby     19th April 2018 A preliminary economic assessment (PE) of LSE-quoted project developer Phoenix Global Mining’s historic Empire mine, in Idaho, has outlined a 16% improved production scenario over previous estimates, taking only the openpit copper oxide resource into consideration. The PEA shows an average copper... 

Acacia reports lower Q1 adjusted net earnings, but maintains FY production target

By: Marleny Arnoldi     19th April 2018 Tanzanian gold miner Acacia Mining reported adjusted net earnings of $7-million for the quarter ended March 31, which is 73% lower than the $26.8-million adjusted net earnings reported for the first quarter of 2017.  

Evolution hits record low costs

By: Esmarie Swanepoel     19th April 2018 Gold miner Evolution Mining has reported record low all-in sustaining costs of A$768/oz, with gold production also increasing slightly. Gold production during the three months to March was up to 191 474 oz, compared with the 186 488 oz produced in the previous quarter, with the Ernest Henry and... 

BHP cuts guidance at Olympic Dam and Pilbara iron-ore ops

By: Esmarie Swanepoel     19th April 2018 Mining giant BHP has reduced its full-year production expectations for its Pilbara iron-ore operations, as well as the Olympic Dam mine, in South Australia. The miner on Thursday reported a 6% drop in iron-ore production during the three months to March, compared with the previous quarter,... 

Peru will not 'impose' mining projects on communities – prime minister

By: Reuters     19th April 2018 The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices. In the past decade, Southern Copper and Newmont... 

Relations sour at giant copper pit with automation looming

By: Bloomberg     19th April 2018 Just as labour tensions ease at BHP Billiton’s giant Escondida mine, the copper industry has another iconic mine to worry about. Relations between the world’s largest copper producer, Codelco, and unions in its Chuquicamata division have reached the lowest point in years as the mine transitions... 

Altus raises C$4.11m in private placement

By: Creamer Media Reporter      18th April 2018 Aim-listed Altus Strategies has raised about C$4.11-million by way of a nonbrokered private placement of 27.39-million units at C$0.15 each. Each unit is comprised of one ordinary share and one ordinary share purchase warrant that may be used to buy one ordinary Altus share at C$0.30 for five... 

Orion appoints mining engineer as nonexecutive director

By: Creamer Media Reporter      18th April 2018 ASX- and JSE-listed Orion Minerals, which is developing the Prieska base metals project in South Africa’s Northern Cape, has appointed Michael Hulmes as nonexecutive director. Hulmes is a mining engineer with over 30 years’ senior executive, management 

Rio Tinto lifts iron, bauxite and copper output, warns sanctions could impact aluminium

By: Esmarie Swanepoel     18th April 2018 Diversified giant Rio Tinto has reported production increases at its iron-ore, bauxite and copper divisions, while warning shareholders that US sanctions against Russian companies could impact aluminium production in 2018. “We delivered a solid operational performance across most commodities in... 

Rio Tinto flags changes to 2018 aluminium output after US sanctions

By: Reuters     18th April 2018 Global miner Rio Tinto on Wednesday flagged possible changes to its 2018 aluminium output following US sanctions on its Russian partner Rusal earlier this month. Rio, which reported a 5% rise in first-quarter iron ore shipments in the March quarter, has declared force majeure on some customer... 

W Resources plans to spin off or sell copper and gold assets

By: Mariaan Webb     17th April 2018 European mining project developer W Resources is considering spinning off or selling its copper and gold projects, as it increasingly focuses on its tungsten assets in Spain and Portugal. The company, which is advancing the La Parrilla tungsten mine in Spain, owns the São Martinho,... 

After setbacks, Anglo American counting on turnaround for Minas-Rio mine

By: Reuters     17th April 2018 Two leaks in a month, a 90-day outage and $58-million in fines is not enough to temper Anglo American's ambition for its long-delayed, multi-billion dollar Minas-Rio iron-ore mine in Brazil. Purchased at the height of the commodities boom a decade ago for $5.5-billion, Anglo American was once... 

Downer EDI awarded A$660m Carrapateena contract

By: Esmarie Swanepoel     17th April 2018 Copper/gold miner Oz Minerals has awarded a A$660-million underground mining services contract to project house Downer EDI for the Carrapateena underground mine, in South Australia. The six-and-a-half year contract will comprise all underground mining activity, including site setup and... 

Vale achieves best-ever quarterly sales in Q1, despite slide in iron output

By: Henry Lazenby     17th April 2018 Brazilian diversified miner Vale has reported its best first-quarter iron-ore sales ever despite production of the iron-making ingredient slipping somewhat during the three-month period. The company reported that output during the quarter ended March 31 slipped 4.9% year-on-year to 81.95-million... 

Copper Mountain lifts Q1 output 10%

By: Henry Lazenby     16th April 2018 British Columbia-focused miner Copper Mountain Mining has reported strong results for the first calendar quarter, as it battled abnormal volumes of snow and a brief power outage to keep production on course with 2018 guidance. The eponymous mine produced 23.2-million pounds of copper equivalent,... 

Glencore releases all-embracing 117-page sustainability report

By: Martin Creamer     16th April 2018 One of the strategic priorities of diversified mining and marketing company Glencore is to invest in community initiatives that deliver sustainable socioeconomic benefits, the London- and Johannesburg-listed company states in today’s 117-page Sustainability Report 2017, which emphasises the... 

Amur raises projected earnings forecast

By: Anine Kilian     16th April 2018 Aim-listed Amur Minerals has reported a 78% increase in projected earnings for its Russia-based nickel/copper sulphide Kun-Manie project. The company said on Monday that the projected earnings before interest, tax, depreciation and amortisation (Ebitda) had increased by 78.75% to $2.7-billion,... 

Mining regulation changes in sub-Saharan Africa will continue to fuel uncertainty – BMI

By: Simone Liedtke     16th April 2018 Changes to the mining regulations in various markets across sub-Saharan Africa will continue to fuel uncertainty among investors and pose downside risks to forecasts in the region, says market researcher BMI Research. Internal political and economic considerations, as well as a more favourable... 

Polymetal swaps Russian property for Kazakhstan deposit

By: Anine Kilian     16th April 2018 Gold miner Polymetal has reached an agreement with the Russian Copper Company in which it would exchange its Tarutin property, in Russia, for the East Tarutin property, in Kazakhstan. The asset-swap deal would give Polymetal an 85% stake in the East Tarutin property, which CEO Vitaly Nesis said... 

Anglo Asian delivers 26% production increase

By: Simone Liedtke     16th April 2018 Azerbaijan's top gold producer, Anglo Asian Mining, has delivered a 26% year-on-year increase in gold equivalent ounces in what CEO Reza Vaziri describes as an “excellent” first-quarter performance. Production in the first three months of the year is always the company’s lowest, owing to the... 

EMP submitted for drilling at Metal Tiger, MOD’s Botswana JV

By: Simone Liedtke     16th April 2018 Aim-listed Metal Tiger on Monday announced that it and joint venture (JV) partner MOD Resources have applied to the Botswana Department of Environmental Affairs for approval for an environmental management plan (EMP) for drilling within the about 697 km2 T20 Dome complex. The EMP for the T20... 

Minotaur signs up for NT exploration

By: Esmarie Swanepoel     16th April 2018 ASX-listed explorer Minotaur Exploration has entered into a joint venture (JV) agreement with fellow-listed Andromeda Metals in the Northern Territory. Under the terms of the agreement, Minotaur would sole fund up to A$5-million through a staged earn-in over a maximum six-year period, to earn a... 

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