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Base Metals News

Aurubis names Toralf Haag as new CEO after board overhaul

By: Bloomberg     21st June 2024 Copper producer Aurubis has named Toralf Haag as its new CEO, completing an overhaul of its board in the wake of a giant raw-materials fraud. Haag will take over from Roland Harings, after the company’s supervisory board terminated his contract early in January, along with two other executive... 

Global gold mining major highlights academic partnership with South Africa’s Fort Hare 

By: Martin Creamer     21st June 2024 The University of Fort Hare, where the offspring of mineworkers were the first graduates, has agreed a R12.5-million, initial ten-year academic partnership with gold mining major AngloGold Ashanti, which no longer mines in this country and is now domiciled in London. Fort Hare is the university... 

University of Fort Hare Vice-Chancellor Professor Sakhela Buhlungu (left) and South Africa President Cyril Ramaphosa.
University of Fort Hare Vice-Chancellor Professor Sakhela Buhlungu (left) and South Africa President Cyril Ramaphosa.

Orion, Thungela, Richards Bay Minerals make headlines   

21st June 2024 Mining Weekly Editor Martin Creamer discusses South Africa becoming one of the world’s most compelling short-term investment stories, which is good news for Orion Minerals; Thungela Resources being poised to spend R3.9-billion worth of capital in South Africa going forward; and Richards Bay... 

Orion, Thungela, Richards Bay Minerals make headlines
Orion, Thungela, Richards Bay Minerals make headlines

S America changing tack for in-demand minerals

By: Lumkile Nkomfe      21st June 2024 An emerging trend in Latin America, and South America in general, is the shift from mining certain commodities to mining commodities that are more critical for the energy transition, such as copper, reports field research professional services firm Southern Pulse founder and managing partner... 

A generic image of an opencast mine
MARKET RIPE FOR IN-DEMAND MINERALS Emerging market trends indicate that there is a growing appetite for key minerals to facilitate the global energy transition

Green copper, vapour refining envisaged at Orion’s Northern Cape base metals mines 

By: Martin Creamer     20th June 2024 Green copper and clean smelting and refining are envisaged at Orion Minerals’ quickly advancing base metals mines in South Africa’s well-endowed Northern Cape province, which has historically produced 2.5-millon tons of copper until base metal mining ceased there several decades ago. The fully... 

This Prieska mine chamber was blasted in the 1970s.
Photo by Creamer Media
This Prieska mine chamber was blasted in the 1970s.

Vale unveils $3.3bn plan to boost copper and nickel output

By: Reuters     20th June 2024 Vale plans to spend as much as $3.3-billion on improvements at its mining operations in Brazil and Canada to boost copper and nickel production capacity over the next four years. The Brazilian mining giant sees the potential to expand production capacity to about 500 000 tons of copper by 2028... 

Vale Base Metals chairperson Mark Cutifani
Vale Base Metals chairperson Mark Cutifani

Harmony confident of meeting full-year targets, reporting 'exceptional' free cash flow

By: Creamer Media Reporter      20th June 2024 JSE-listed Harmony Gold Mining Company has informed shareholders that it will meet its production, grade and cost guidance for the financial year to end on June 30, and that it continued to generate "exceptional" operating free cash flow on the back of the recovered grades, a higher rand gold... 

Harmony Gold CEO Peter Steenkamp
Harmony Gold CEO Peter Steenkamp

American Pacific starts drilling at Palmer project

By: Creamer Media Reporter      20th June 2024 US-focused exploration and development company American Pacific Mining has initiated a diamond drill programme at the high-grade Palmer copper/zinc VMS project in Alaska, with joint venture (JV) partner Dowa Metals and Mining Alaska. “We are excited to begin this year’s drill program at Palmer,”... 

K92 closes and upsizes Trafigura loan

By: Creamer Media Reporter      20th June 2024 Gold miner K92 Mining has announced two new credit facilities with Trafigura to replace a previous loan, upsizing its facility from $100-million to $120-million. Under an accordion feature, the company, which operates the Kainatu gold mine, in Papua New Guinea, can increase the aggregate amount... 

The Kainatu mine, in Papua New Guinea
The Kainatu mine, in Papua New Guinea

South African manufacturer to provide 275 new container wagons to Lobito railway project

By: Darren Parker     19th June 2024 Joint venture (JV) company Lobito Atlantic Railway (LAR), which is the concession holder for the operation, management and maintenance of the Lobito Corridor spanning Zambia, Angola and the Democratic Republic of Congo (DRC), has placed an order for 275 new container wagons from South African... 

New wagons being built for use on the Lobito railway corridor

South Africa now a compelling world investment story, upbeat Orion highlights 

By: Martin Creamer     19th June 2024 “The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment... 

Errol Smart
Orion Minerals webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer

Taseko restarts mining at Gibraltar

By: Mariaan Webb     19th June 2024 Midtier copper miner Taseko Mines is resuming operations at its Gibraltar mine, in British Columbia, on Wednesday, as a labour agreement have been ratified. The company announced earlier this week that it had reached an agreement with the union representing workers at Gibraltar. The new... 

Taseko restarts mining at Gibraltar

Resources Watch  

19th June 2024 This week: Copper 360 on home straight to produce quite a bit of cash, CEO reports; Reserve Bank concern about decline of public markets welcome development; and, Artificial intelligence used to eliminate need for rare earths in permanent magnets 

Resources Watch
Resources Watch

China is building Europe battery supply in Morocco, VW unit says

By: Bloomberg     19th June 2024 China is building a battery supply chain for Europe in Morocco, as the continent struggles to develop its own industry to feed electric-car manufacturing, PowerCo’s operations head said. “We don’t have any supply chain. This has to be set up,” Sebastian Wolf, chief operating officer for... 

Rio Tinto invests $165m in Quebec smelter

By: Creamer Media Reporter      19th June 2024 Diversified miner Rio Tinto has announced a $165-million (C$226-million) investment in its Grande-Baie smelter, located in Quebec. The investment aims to refurbish two anode baking furnaces that have reached the end of their operational lifespan. The company will also carry out feasibility... 

Rio Tinto invests $165m in Quebec smelter

JCHX closes in on Zambian copper mine deal as China tightens Africa grip

By: Reuters     19th June 2024 JCHX Mining is close to concluding a deal to buy Zambia's Lubambe Copper Mine, two sources told Reuters, in the latest in a string of copper deals by Chinese companies intent on growing their control of the African copper mining industry. The Shanghai-listed mining services and contracting firm's... 

The Lubambe mine in Zambia
The Lubambe mine in Zambia

Nickel 28 reaches settlement with fired CEO to end misconduct claim

By: Bloomberg     19th June 2024 Nickel 28 Capital’s former CEO agreed to relinquish nearly half the stock he owned in the company that accused him and other ousted executives of “serious misconduct.” Anthony Milewski agreed to return about 4.97-million shares of Nickel 28 as part of a June 17 settlement with the firm that... 

Anthony Milewski
Anthony Milewski

Nevada Copper initiates sales process amid Chapter 11 bankruptcy

By: Mariaan Webb     18th June 2024 Nevada Copper, the financially troubled owner of the Pumpkin Hollow copper mine, has initiated a sales process as part of its ongoing Chapter 11 bankruptcy restructuring. The company has appointed Moelis & Company to oversee the sale.  

Nevada Copper initiates sales process amid Chapter 11 bankruptcy

Cornish to dispose of Canada’s Nickel King property

By: Tasneem Bulbulia     18th June 2024 Aim- and TSX-V-listed Cornish Metals has announced the sale of its 100% interest in the Nickel King and Opescal Lake properties, in Canada’s Northwest Territories, to Northera Resources for up to C$8-million. The sale of Nickel King aligns with Cornish Metals’ objective to focus its efforts on... 

Peru miner Volcan eyes $200m in further asset sales

By: Bloomberg     18th June 2024 Volcan Cia Minera, the Peruvian zinc miner that was recently acquired by Argentine group Integra Capital, said it is pushing ahead with plans to sell non-core assets as it talks with creditors to refinance a pile of debt coming due in the coming years. The company, in which Glencore sold a... 

Port of Chancay
Port of Chancay

Arc starts drilling at Botswana project

By: Tasneem Bulbulia     14th June 2024 London-listed Arc announces the start of an exploration drilling programme over the company’s PL135/2017 and PL162/2017 licences at its Virgo project within the highly prospective central structural corridor of the Kalahari Copper Belt (KCB) in Botswana. At the end of May, Arc reported on the... 

Copper360, public markets, TotalEnergies, Air Products deal make headlines   

14th June 2024 Mining Weekly editor Martin Creamer discusses Copper 360 being on the road to produce quite a bit of cash by financial year end; why the Reserve Bank concern about the decline of public markets is a welcome development; and the 15-year TotalEnergies and Air Products deal.   

Copper360, public markets, TotalEnergies, Air Products deal make headlines
Copper360, public markets, TotalEnergies, Air Products deal make headlines

Copper 360 on home straight to produce quite a bit of cash, CEO reports  

By: Martin Creamer     13th June 2024 Copper mining and marketing company Copper 360 is on the home straight to produce quite a bit of cash by financial year end. That was the main takeaway from Mining Weekly’s post-results Zoom interview with the head of the only pure copper play listed on the Johannesburg Stock Exchange (JSE). 

Mining activity at Copper 360.
Copper 360 CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer. Video:Darlene Creamer.

Global nickel prices have probably hit a floor, says Macquarie

By: Reuters     13th June 2024 Global nickel prices may have hit a floor, according to a Macquarie analyst who sees a market recovery driven by strong demand from the steel sector and as a surplus of ore supplies shrinks after Indonesia slowed production permits. "Our belief is that we've seen the bottom, we've seen the... 

Global nickel prices have probably hit a floor, says Macquarie

Bezant marks progress at Namibia project

By: Tasneem Bulbulia     13th June 2024 Aim-listed Bezant Resources has completed the chain of contractor services that will make up the Hope and Gorob mining operation, chairperson Colid Bird outlines in an update on the copper/gold project in Namibia. Letters of preparedness have been received from the main contractors responsible... 

Tucumã on track for first copper in Q3, says Ero Copper

By: Creamer Media Reporter      13th June 2024 Toronto and New York-listed Ero Copper has been awarded an operational licence for the Tucumã project, in Brazil, passing the final permitting milestone for commercial operation. With physical completion at about 99%, commissioning well advanced and more than 90% of the operational staff hired... 

Tucumã on track for first copper in Q3, says Ero Copper

Zambia to set up mineral investment and trading unit

By: Reuters     12th June 2024 Zambia will set up a new entity for investment and trading in minerals as it seeks to earn more from its natural resources, the Cabinet said on Wednesday after giving its approval. The government of Zambia, Africa's second largest copper producer which currently owns several mining assets through... 

Reserve Bank concern about decline of public markets welcome development – Miller  

By: Martin Creamer     12th June 2024 The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change... 

AmaranthCX director Paul Miller.
AmaranthCX director Paul Miller interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

TMC produces cobalt sulphate from seafloor polymetallic nodules

By: Creamer Media Reporter      12th June 2024 Nasdaq-listed critical minerals company TMC on Wednesday announced the successful production of cobalt sulphate derived exclusively from seafloor polymetallic nodules. The milestone was achieved during bench-scale testing of TMC’s hydrometallurgical flowsheet design in collaboration with SGS... 

Nodules being inspected
Nodules being inspected

Forget copper and gold as steelmaking manganese outperforms

By: Bloomberg     12th June 2024 Manganese, an essential steel-making ingredient, has outstripped copper, gold and many other commodities this year after a cyclone halted exports from the world’s second-largest mine in March. Prices of 44% grade manganese ore have almost doubled since the start of the year, beating gains of 15%... 

Supply constraints and elevated prices will continue until Gemco (pictured) is brought back on line.
Supply constraints and elevated prices will continue until Gemco (pictured) is brought back on line.

Glencore to back Indonesia nickel miner Ceria Nugraha before IPO

By: Bloomberg     12th June 2024 Indonesian nickel miner PT Ceria Nugraha Indotama is set to get backing from Glencore Plc to build a battery metal plant ahead of an initial public offering planned for next year. Glencore is in talks to take a 10% stake in the company through a pre-IPO fund-raise, and will assist in financing... 

Glencore to back Indonesia nickel miner Ceria Nugraha before IPO

BHP set to avert mine strike in Chile with preliminary wage deal

By: Bloomberg     12th June 2024 BHP reached a preliminary wage agreement with union leaders in Chile, signaling the company will avert a costly strike at a copper mine that accounts for about 1% of global supply of the wiring metal. More than 1 100 members of the main union at BHP’s Spence mine in northern Chile will vote on... 

BHP set to avert mine strike in Chile with preliminary wage deal

Elliott steps in to back faltering Canadian copper miner after bankruptcy

By: Bloomberg     12th June 2024 US hedge fund manager Elliott Investment Management has offered support to troubled Canadian miner Nevada Copper after the company filed for bankruptcy protection. Before Monday’s bankruptcy filing, Nevada Copper had attracted two bidders though it failed to close a deal with either one, CFO... 

Elliott steps in to back faltering Canadian copper miner after bankruptcy

Freeport-McMoRan is looking for ways to expand copper production, CEO says

By: Bloomberg     12th June 2024 US copper giant Freeport-McMoRan believes it can unlock the equivalent of a large new mine by applying new processing technology at its existing assets, according to new CEO Kathleen Quirk. Quirk, who steps into the role on Tuesday to become the only female CEO of a major listed mining company,... 

Freeport-McMoRan is looking for ways to expand copper production, CEO says

Kamoa-Kakula Phase 3 concentrator achieves first production ahead of schedule

By: Marleny Arnoldi     11th June 2024 Canada-headquartered miner Ivanhoe Mines has achieved first concentrate production at the Kamoa-Kakula operation’s Phase 3 concentrator, in the Democratic Republic of Congo (DRC). The Phase 3 concentrator was completed nearly two quarters ahead of schedule and is expected to increase... 

Kamoa-Kakula, in DRC
Kamoa-Kakula, in DRC

South Africa’s quickly advancing Copper 360 is guiding sharp 2025 revenue rise  

By: Martin Creamer     11th June 2024 The revenue of South Africa’s quickly advancing Northern Cape copper mining company Copper 360, the only pure copper play on the Johannesburg Stock Exchange, is forecast by the company to have risen sharply by the end of February next year. The AltX-listed company headed by CEO Jan Nelson, is... 

Copper 360 CEO Jan Nelson.
Copper 360 annual results presentation covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Indonesia considers terminating permits for some nickel pig iron production

By: Reuters     11th June 2024 The Indonesian government is conducting a comprehensive evaluation regarding the termination of permits for the RKEF smelters which make products in the form of ferronickel and nickel pig iron, a mining ministry official said on Tuesday. The world's biggest nickel producer is experiencing a... 

Canadian govt invests C$10m in Ontario critical mineral projects

By: Mariaan Webb     11th June 2024 Energy and Natural Resources Minister Jonathan Wilkinson on Monday announced two investments of C$5-million each to support the critical minerals sector in Canada, specifically in northern Ontario. The funding recipients are the Mining Innovation Rehabilitation and Applied Research Corporation... 

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