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Escondida outcome seen as disaster for BHP as workers return

By: Reuters     25th March 2017 The end of a historic strike at Chile's Escondida copper mine, the world's biggest, has left its owner, BHP Billiton, nursing an estimated $1-billion loss and probably in a weaker position for negotiations in a year or so, company and industry insiders said. On Thursday, the 2 500-member union... 

Miners regain mojo to spark $18bn in exploration hunt

By: Bloomberg     24th March 2017 A rebound in exploration by global miners could see spending hit $18-billion by 2025 with China the front runner in the search for a new generation of giant discoveries. Exploration budgets are rising after they plunged to an 11-year low of about $10-billion last year as mining companies slashed... 

Tanzania gold export ban costing Acacia $1m a day in lost revenue

By: Megan van Wyngaardt     24th March 2017 The recent implementation of a gold and copper exports ban by the Tanzanian government is costing its largest gold miner, Acacia Mining, an average of $1-million a day in revenues. LSE-listed Acacia Mining on Friday said it was now taking a “range of actions” at its Bulyanhulu and Buzwagi mines... 

Hot Chili raises A$13m

By: Esmarie Swanepoel     24th March 2017 Junior copper developer Hot Chili is hoping to raise up to A$13-million through a private placement to refund its outstanding debt and fund exploration work. The ASX-listed company on Friday said it had arranged an offering of unsecured convertible notes, with the funding to be led by lender... 

Proponents see glistening future in seabed mining, but environmentalists fret

By: Megan van Wyngaardt     24th March 2017 With the current known mineral deposits on land increasingly being depleted globally, necessitating greater exploration, interest in deep-sea minerals is growing as mining companies look for future sources to exploit. “The ocean is where future resources exist,” India Council of Scientific and... 

Freeport-McMoRan sees no material impact on output from Peru strike

By: Reuters     24th March 2017 Freeport-McMoRan said Thursday that a nearly two-week strike has not materially impacted production levels at its Cerro Verde copper mine in Peru, the country's biggest, though the union said output has been cut in half. The union is preparing to skirt an order by the labour ministry to return... 

One-stop solution gives company market edge

By: Simone Liedtke     24th March 2017 The ability to supply a full range of high-quality pumps with full back-up and support, as well as readily available spare parts, has placed pump supplier and manufacturer KSB Pumps and Valves in a unique position where clients can meet all their pumping requirements through a single supplier. 

Escondida workers to end strike as they opt for old contract

By: Reuters     23rd March 2017 The strike at Escondida, the world's largest copper mine, will end after workers decided to invoke a legal provision that allows them to extend their old contract, the union said on Thursday. The workers said they would present their decision to the government on Friday and return to work on... 

Nevsun finds more mineralisation at Eritrea-based Bisha, satellite deposits

By: Henry Lazenby     23rd March 2017 Canadian base metals producer Nevsun Resources has found more mineralisation at its flagship Bisha mine and satellite deposits in Eritrea, on the Horn of Africa. Drilling undertaken in 2016 has increased the inferred resource at the Harena deposit by nearly 130% to 25-million tonnes grading 0.93%... 

Diamond group De Beers buys out retail partner LVMH

By: Reuters     23rd March 2017 Anglo American's diamond specialist De Beers has bought the 50% stake held by French luxury goods group LVMH in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH's strategy, while Anglo American,... 

RS Components offers 800 new Bahco tools for thousands of applications

     23rd March 2017 New tools offer specific tailored capabilities for multiple different and demanding industries RS Components (RS), the trading brand of Electrocomponents plc, the global distributor for engineers, has added over 800 products to its Bahco tool range. 

Alara gets offtake partner for Oman project

By: Esmarie Swanepoel     23rd March 2017 Metals miner Alara Resources has signed an offtake agreement for the supply of some 35 000 t of copper concentrate from its Al Hadeetha project, in Oman. The company said on Thursday that, under the terms of the agreement, the concentrate will be shipped at regular intervals from the Sohar port,... 

Minerals railway in Peru to take 2-3 wks to resume – govt

By: Reuters     23rd March 2017 A railway used by copper, zinc and silver mines to transport their concentrates from Peru's central Andes to port will not likely be operative for at least two to three weeks following "important" damages from floods and mudslides, the transportation minister said on Wednesday. Martin Vizcarra... 

Vast takes full ownership of Romania mine

By: Megan van Wyngaardt     22nd March 2017 Aim-listed miner Vast Resources now owns 100% of the Manaila polymetallic mine, in Romania, following the completion of the acquisition of the remaining 49.9% of Sinarom Mining Group from vendor Ni Jin Ming. This follows the settlement of $1.14-million in debts associated with the company's... 

BHP mine struggling to stave off title of longest Chile strike

By: Bloomberg     22nd March 2017 The biggest copper mine in the world owned by the largest mining company is about to gain another, less desirable superlative – that of Chile’s longest mining strike in a generation. Management and union representatives at BHP Billiton’s Escondida are entering into another round of talks on... 

Alecto prepares for first blast at Mowana project

By: Natasha Odendaal     22nd March 2017 Alecto Minerals is “moving at speed” towards delivering continuous production and first sales from the Mowana copper project, in Botswana, with the first blast expected to take place within days. With appointed drill and blast contractor Capital Drilling mobilising its equipment to site, an... 

Mitsubishi says it may sell stakes in Australia thermal coal mines

By: Reuters     22nd March 2017 Japanese trading company Mitsubishi Corp may sell stakes in Australia thermal coal mines as it presses on with a switch to core assets such as coking coal after slumping to its first-ever annual loss last year, a spokesman said on Wednesday. The Nikkei business daily reported earlier on... 

Cassini hopes to cash in on cobalt highs

By: Esmarie Swanepoel     22nd March 2017 Junior Cassini Resources has told shareholders that an updated scoping study on its West Musgrave joint venture (JV), in Western Australia, will take the rising cobalt prices into consideration. Responding to shareholder queries, Cassini on Wednesday said the company had initiated a review of the... 

Africa’s biggest copper find keeps giving as Ivanhoe hits mineralisation 3.8 km west of Kakula

By: Henry Lazenby     22nd March 2017 The TSX-listed stock of Africa-focused explorer Ivanhoe Mining on Tuesday rose 12% after it announced that it had encountered more shallow, high-grade mineralisation at Africa’s largest copper deposit ever – the Kamoa-Kakula copper discovery, in the Democratic Republic of Congo (DRC). A new hole... 

Endeavour, Acacia end merger talks

By: Henry Lazenby     22nd March 2017 Canadian gold miner Endeavour Mining has halted discussions with London-listed Acacia Mining regarding a potential merger. Endeavour, which operates a portfolio of gold mines in West Africa, has held talks with Acacia – which is majority owned by Canada's Barrick Gold – since mid-January. 

Zambia copper miners face $276m bill in power dispute

By: Bloomberg     21st March 2017 Zambian copper miners including the local unit of Glencore Plc could face a power bill of more than $276-million if they lose a dispute with the government over electricity tariff rises, according to Copperbelt Energy Corp., their biggest supplier. A resolution to the three-year battle could... 

Freeport Indonesia resumes copper concentrate production

By: Reuters     21st March 2017 Freeport McMoRan Inc's Indonesian unit has resumed production of copper concentrate at its giant Grasberg mine, a spokesman told Reuters on Tuesday, ending a more than one-month stoppage. "We have begun to resume operations in stages," Freeport Indonesia spokesman Riza Pratama said, confirming... 

Striking union at BHP's Escondida says it is open to further conversations

By: Reuters     21st March 2017 The union for striking workers at BHP Billiton's Escondida in Chile, the world's largest copper mine, said after meeting with the company on Monday that it was open to further conversations that could lead to reopening negotiations. "At this time, both parties are doing their own evaluation.... 

Metals X weighs cobalt options

By: Esmarie Swanepoel     21st March 2017 Metals miner and developer Metals X has told shareholders that it was weighing its options at its Wingellina and Maroochydore projects, in Western Australia, as cobalt prices and demand surged. The company said that the surge in cobalt prices and the ‘apparent fundamental shift’ in cobalt demand... 

Peru mine output stranded after rains disrupt rail shipments

By: Reuters     21st March 2017 Heavy rains in Peru have disrupted train transport of minerals from the country's central region to the Pacific Coast, and the train line could take at least 15 days to fix, VP and Transport Minister Martin Vizcarra said on Monday. The government is coordinating with mining companies to find... 

Striking union, BHP Billiton's Escondida mine to meet Monday

By: Reuters     21st March 2017 Striking workers at BHP Billiton's Escondida copper mine in Chile, the world's largest, said they will hold negotiations with the company on Monday, but the union imposed a condition that it will only discuss workers' three main demands. Union members have also given union leaders authority to... 

Smaller global copper deficit seen in December – ICSG

By: Henry Lazenby     21st March 2017 The International Copper Study Group said Monday the global copper market deficit had fallen back to about 50 000 t in December, following a deficit of about 90 000 t in November. According to the group’s latest copper bulletin, world mine output is estimated to have increased by around 5%, or... 

Trilogy pulls the trigger on high-grade copper Arctic prefeasibility study

By: Henry Lazenby     20th March 2017 Alaska-focused mineral explorer Trilogy Metals will undertake a prefeasibility study (PFS) on the Arctic project, in Northwest Alaska – one of the highest-grade copper deposits known in the world with an average grade of 6% copper equivalent. "The PFS will demonstrate the true value of the... 

South African OEM completes equipment delivery to Chinese copper mine

By: David Oliveira     20th March 2017 South African original-equipment manufacturer Galison earlier this month completed the delivery of an automated underground rolling stock solution, comprising 40 underground wagons and two tipping stations, to Chinese State-owned copper mine Pulong, in Yunnan province, China, at a cost of about... 

Union at Chile's Escondida slams new offer from management

By: Reuters     20th March 2017 The labor union at the world's largest copper mine, BHP Billiton's Escondida in Chile, called a fresh offer of talks by management to end a 39-day strike "manipulative." The union told Reuters on Sunday that it will decide whether to attend a meeting with the company after holding two assemblies... 

TSX ends down as financials, commodity stocks retreat

By: Reuters     17th March 2017 Canada's benchmark stock index fell on Friday as financial stocks lost ground along with bond yields and as natural resource companies pulled back despite an uptick in commodity prices. The heavyweight financials group lost 0.6%, with insurance company Manulife Financial down 1.5% at C$24.13 and... 

New offer suggests breakthrough in Chile's Escondida strike

By: Reuters     17th March 2017 Chile's Escondida has agreed to meet with its union and made changes to its contract offer, it said on Friday, a move that could herald the first real sign of a breakthrough in a strike at the world's biggest copper mine. The strike at the BHP Billiton-owned mine has lasted 37 days and has... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Mod raises funds for T3 exploration

By: Esmarie Swanepoel     17th March 2017 Metals explorer Mod Resources has raised A$14.6-million through a share placement to professional and sophisticated investors. The ASX-listed company on Friday said some 235.4-million fully paid ordinary shares would be placed at a price of 6.2c each to raise the funds, with the placement still... 

Orion's purchase of Prieska project to proceed

By: Esmarie Swanepoel     17th March 2017 Junior metals developer Orion Gold has ticked all the boxes to complete the acquisition of Agama Exploration & Mining, to gain a 73.33% interest in the Prieska copper mine, in South Africa. Orion on Friday said that, following the completion of a convertible note issue, the company was now fully... 

Todd River IPO raises A$6m

By: Esmarie Swanepoel     17th March 2017 The initial public offering (IPO) of base metals spin-off Todd River Resources has raised A$6-million. ASX-listed parent company TNG on Friday said up to 30-million shares were offered, with an issue price of 20c each, along with one free attaching option for every two subscribed shares. 

Escondida striking union says invited company to talk on main demands

By: Reuters     17th March 2017 The striking union at Escondida mine, in Chile, the world's biggest copper mine, said on Thursday it would return to the negotiating table if the company gave a written guarantee that it would only discuss the union's three key demands. Escondida did not immediately respond to requests for comment. 

Bwana Mkubwa solar photovoltaic project, Zambia

By: Sheila Barradas     17th March 2017 The project entails the construction of an 80 MW to 120 MW solar PV plant. 

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