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Inca One buys Peru mill from Equinox Gold in ‘transformative acquisition’

By: Mariaan Webb     Updated 2 hours 17 minutes ago TSX-V-listed Inca One on Tuesday announced a “transformative acquisition” which CEO Edward Kelly said would elevate the company from a small producer to a major player among publically traded gold processing companies. Inca One has entered into a definitive purchase agreement to acquire 100%... 

Newmont’s $69m Northwest Exodus expansion project complete

By: Simone Liedtke     Updated 2 hours 51 minutes ago US gold miner Newmont Mining has completed a $69-million expansion at its Exodus operation, adding ten more years of operations to the underground mine at the integrated Carlin mining operation in Nevada. The Northwest Exodus project was completed ahead of schedule and within budget, Newmont... 

LME to launch monthly 'implied pricing' to attract funds

By: Reuters     17th July 2018 The London Metal Exchange (LME) will launch a new set of synthetic monthly prices to make it easier for investors and funds to invest in base metals as the LME battles competition from other exchanges such as those operated by CME Group Inc.. The world's oldest and largest market for industrial... 

Union calls for mine bosses to be prosecuted for deaths of mineworkers

By: African News Agency      17th July 2018 The National Union of Metalworkers of South Africa (Numsa) on Tuesday called for mine bosses to be prosecuted for the deaths of six miners in Limpopo at the Phalaborwa Mining Company's copper mine. The men died after they became trapped underground when a fire broke out in the early hours of... 

Anglo Asian’s production remains on upward trajectory

By: Creamer Media Reporter      17th July 2018 Production from Azerbaijan-focused Anglo Asian Mining’s Gedabek gold, copper and silver mine is continuing on an upward trajectory, instilling confidence that the full-year guidance of 78 000 oz to 84 000 oz of gold equivalent will be achieved. The Gedabek mine produced 19 042 oz of gold... 

Lundin makes another move to buy Nevsun

By: Mariaan Webb     17th July 2018 Keen to bring the Timok copper project, in Serbia, into its fold, Canadian firm Lundin Mining has announced that it will take a C$1.4-billion offer directly to Nevsun Resources shareholders, after unsuccessful attempts to engage with the company over the past five months. Lundin, which earlier... 

Solid Q2 performance rounds out strong first half for Rio Tinto

By: Esmarie Swanepoel     17th July 2018 Diversified major Rio Tinto has reported increased production in most of its commodities in the second quarter ended June, compared with the previous corresponding period. “Operational performance was solid across most commodities, rounding out a strong first half performance for the group,”... 

The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

Orion on track for completing Prieska BFS

By: Anine Kilian     16th July 2018 JSE-listed Orion Minerals is on track to complete its bankable feasibility study into the Prieska zinc/copper project, in the Northern Cape, by the end of the year. The company on Monday reported positive assay results from a further 13 drilled intersections at the project. 

Atalaya produces record quarterly copper production in Spain

By: Marleny Arnoldi     16th July 2018 Aim- and TSX-listed copper miner Atalaya Mining produced 10 446 t copper at its Proyecto Riotinto mine, in Spain, in the second quarter of the year, beating its first quarter production record.  

MOD could increase plant throughput at T3

By: Esmarie Swanepoel     16th July 2018 ASX-listed MOD Resources has reported a 13% increase in the indicated resource of its T3 deposit, in Botswana, which could support a potential increase in the planned design throughput. MOD on Monday said that a reclassification of the T3 resource has seen the indicated mineral resource estimate... 

Noront drops Sudbury and Thunder Bay as site for ferrochrome plant

By: Mariaan Webb     16th July 2018 TSX-V-listed Noront Resources has moved to the final phase of the site selection process for its proposed ferrochrome production facility, with only two cities – Timmins and Sault Ste Marie – still in the running to host the 100 MW to 130 MW scalable furnace. Noront has dropped Thunder Bay and... 

How mining tycoons are trying to foil a big UK bribery probe

By: Bloomberg     16th July 2018 It’s a faint echo of the defense being floated by targets of the Mueller probe in the US – an unaccountable circle of bureaucrats manipulating the system to their own ends. But in London, it’s the last ditch effort by a trio of Kazakh oligarchs to derail the UK’s biggest bribery investigation. 

No ‘hollow’ promises: Allied Steelrode’s LT20 tube laser leverages the full engineering and design potential of tubular steel

13th July 2018 The increased popularity and use of square and rectangular section hollow steel tubing is a boon for consulting engineers, as it has opened up many new and innovative design opportunities. This type of  steel tubing has many advantages for the consulting engineer as it is cost-effective, light,... 

Copper trains ransacked by 'moles' in full-moon desert heists

By: Bloomberg     13th July 2018 On nights lit by a full moon, thieves leap from trucks onto trains as they roll through Chile’s Atacama desert, before throwing 80-kg slabs of copper to the ground and disappearing into the dark. It’s a tactic known as “the cat” and the robbers are “moles” because no one knows where they come... 

One arrested as Eskom stolen cables worth R5m discovered in Johannesburg

By: Reuters     13th July 2018 An investigation team from Eskom recovered stolen Eskom infrastructure worth R5-million, the power utility said on Friday. One person was arrested when the team and members of the SA Police Service made the discovery of the infrastructure, which included aluminium and copper cables, in... 

Copper heads for fifth weekly loss, aluminium awaits Trump-Putin summit

By: Reuters     13th July 2018 Copper headed for a fifth weekly loss on Friday as trade tensions between the United States and China rumbled on, while aluminium hit a three-month low ahead of a summit between US President Donald Trump and Russian President Vladimir Putin. Trump and Putin are due to meet in Helsinki on Monday... 

Antofagasta sells electricity transmission business

By: Reuters     13th July 2018 Chilean copper producer Antofagasta has sold its electricity transmission business Centinela Transmisión for $117-million, the company said on Friday. "This allows us to focus on our core business of producing copper safely and profitably," Antofagasta CEO Ivan Arriagada said. 

Copper Mountain production up

By: Creamer Media Reporter      13th July 2018 The Copper Mountain mine, in British Columbia, has delivered a solid performance in the second quarter, with production increasing by 13% year-on-year, the operation’s eponymous owner reported on Thursday. The mine produced 23.1-million pounds of copper equivalent, including 20-million pounds of... 

Cable theft stunts connectivity availability

By: Paige Müller     13th July 2018 South Africa’s cable-theft pandemic has made the prospect of a copper-based fixed digital subscriber line (DSL) infrastructure framework unachievable for the country’s Internet service providers (ISPs), says international wireless connectivity provider RADWIN. RADWIN sales director Nick Ehrke... 

Magnets driving energy saving

By: Halima Frost     13th July 2018 Over the past 18 months, Durban-based compressor original-equipment manufacturer Airstream Compressors has supplied 15 rotary-screw air compressor (SCR) permanent magnet (PM) driven compressors across South Africa, saving clients between 30% and 40% on energy costs. Airstream Compressors has... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

No ‘hollow’ promises: Allied Steelrode’s LT20 tube laser leverages the full engineering and design potential of tubular steel

12th July 2018 The increased popularity and use of square and rectangular section hollow steel tubing is a boon for consulting engineers, as it has opened up many new and innovative design opportunities. This type of  steel tubing has many advantages for the consulting engineer as it is cost-effective, light,... 

Bluejay's Dundas may be attractive to Rio Tinto – analysts

By: Mariaan Webb     12th July 2018 The closure of Rio Tinto's South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining, which is developing the Dundas ilmenite project, in Greenland. The project is said to be the... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Another Prominent Hill win for Thiess

By: Esmarie Swanepoel     12th July 2018 Copper miner Oz Minerals has awarded project house CIMIC’s mining services provider Thiess, a A$112-million contract to provide stockpile rehandling services at the Prominent Hill mine, in South Australia. Under the new five-year contract, Thiess will provide run-of-mine management, crusher feed... 

Superior Lake fast-tracks mine restart

By: Esmarie Swanepoel     12th July 2018 Junior base metals developer Superior Lake Resources has announced plans to fast-track the restart of its Superior Lake metals project, in Canada. The ASX-listed company said that following the completion of a maiden Joint Ore Reserves Committee compliant resource of 2.1-million tonnes, grading... 

BHP makes contract offer to union at Escondida mine in Chile

By: Reuters     12th July 2018 BHP Billiton handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23 000 bonus per worker, the company said on Wednesday. The offer falls short of fulfilling some of the demands laid out... 

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Zambia says debt restructuring will not disrupt Chinese projects

By: Reuters     12th July 2018 Zambia will be careful to ensure its planned debt restructuring does not disrupt Chinese-financed projects, President Edgar Lungu said on Wednesday, after China's ambassador to the southern African nation sought clarification on the matter. China is a leading financier of infrastructure projects... 

Barrick trims copper guidance, gold forecast intact

By: Mariaan Webb     12th July 2018 Toronto, Canada-headquartered Barrick Gold has maintained its gold production guidance for 2018 at between 4.5-million and 5-million ounces, but has slashed 40-million pounds off its copper production guidance, owing to operational challenges at its biggest copper mine – Lumwana, in Zambia. The... 

Copper slides to 1-year low, zinc sinks in broad selloff

By: Reuters     11th July 2018 Copper prices slumped to their weakest level in a year and zinc fell to 13-month lows amid a broad selloff on Wednesday after the Trump administration said it would slap 10 percent tariffs on an extra $200-billion worth of Chinese imports. US President Donald Trump’s latest tariff threat... 

Trump started the metals rally, now he's the reason it's ending

By: Bloomberg     11th July 2018 The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper sunk to an almost one-year low and has fallen 16%... 

Serbian copper miner attracts 11 possible buyers – report

By: Reuters     11th July 2018 Serbia's RTB Bor copper miner and smelter has drawn interest from 11 companies and the tender could take place this week or next, Belgrade daily Politika reported on Wednesday. Serbia has tried and failed three times since 2007 to sell the debt-laden mining complex, which suffered a long period... 

SRK, industry loses leading light

By: Nadine James     11th July 2018 One of SRK Consulting’s three founding members, Dr Oskar Steffen, passed away on Wednesday, June 27, in Johannesburg. He was 77 years old. Steffen was born in Swaziland, where he completed his schooling. He left for Johannesburg in 1956 to study civil engineering at the University of the... 

Arc lifts Zamsort stake to 66%

By: Creamer Media Reporter      11th July 2018 Aim-listed Arc Minerals has acquired a further 5% interest in Zamsort, the operator of the Kalaba copper/cobalt project, in Zambia. It now owns 66% of Zamsort, with the other 34% interest held by Kopara Investments. 

Stocks decline as Trump reloads the tariff bazooka

By: Bloomberg     11th July 2018 Stocks fell, the dollar gained and commodities slid with emerging-market assets after the US fired a new shot in its brewing trade war with China. S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list... 

Monchetundra mine permit application now on Medvedev’s desk

By: Mariaan Webb     11th July 2018 The mine permit application for the two-million-ounce platinum-group metals (PGM) Monchetundra project has progressed to the office of Russian Prime Minister Dmitry Medvedev’s for final authorisation, Aim-listed Eurasia Mining reported on Wednesday. This follows the approval from the Ministry of... 

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