The funds will be used to develop Koksay, including a feasibility study to determine the detailed mining and processing operations design and the associated capital budget.Once the FS is completed, KAZ's board will decide how and when to proceed with the project.Koksay is a potential openpit development with an estimated mineral resource of 736 million tonnes at an average grade of 0.42% copper, a...Read More
SHANGHAI, Jun 8 (SMM) – This is a roundup of China's base metals output in May. SMM surveyed major producers in the market to obtain information for calculation.Copper: China's output of refined copperin May grew 1.3% on the month, 19.6% on the year, and came in at 747,300 mt, an SMM survey showed. Output in the first five months of the year gained 13.4% and stood at 3.60 million mt....Read More
SHANGHAI, Jun 8 (SMM) –Copper: Copper prices slowed their upward trends overnight. LME copper came off from highs and hit the highest in four and a half years. The SHFE 1808 contract also lost some previous gains as some longs took profit and left. We remain bullish on copper prices in the short term. LME copper is likely to trade at $7,250-7,300/mt today; the SHFE 1808 contract is likely to...Read More
The 1,000 tonnes per day production line has completed ramp-up, testing, tuning, and the mill was operating adequately, the company said.Mill Circuit 4's ball mill first turned over on February 26, with only minor adjustments needed. Subsequently, commissioning of the complete circuit resumed on May 19, with the introduction of mill feed, followed by testing of the classification, flotation, thick...Read More
CABS Platform has sent a list of five people to Petropavlovsk who each own 20% of the Cyprus-registered firm. Read More
Bannerman, which started the current quarter with A$1.3 million cash, will use the funds for further optimisation studies on the Etango project in Namibia.While the project has been the subject of multiple studies this decade, the low uranium price has precluded development of the previously modelled US$793 million, 7.2 million pounds per annum operation.However, there is some optimism that the ma...Read More
However, he noted in his budget speech Thursday that, while this should be addressed for the DMR to be a catalyst for growth and development in South Africa, he was mindful of its financial constraints and would "strive to deliver with the limited resources at our disposal".Read More
Right-wing senator Ivan Duque emerged as the clear victor of the first round of voting in Colombia's presidential elections on May 27, attracting 39% of the 19 million votes cast. That compares to just 25% garnered by the left-winger, Gustavo Petro.Read More
The consideration for Talisman's Monty stake is on a cash-free and debt-free basis, with the US$11.5 million drawn down by Talisman under a debt facility with Taurus Mining Finance Fund to be repaid before the completion of the transaction.Read More
Thomas told Mining Journal a busy period in the first half of 2018 had been spent building up the management team in Vancouver - where there had been a few executive changes - and developing a strategy around Clara, the company's secure, digital, rough diamond sales platform acquired in February.Read More
Mining Journal: What's going on with the cobalt price? Read More
SHANGHAI, Jun 8 (SMM) – Treatment charges (TCs) of imported clean copper concentrate averaged $77-84/mt for the week ended Friday June 8, SMM assessed.This was up $1/mt from a week ago, marking the fifth consecutive week of increase. Suspension of domestic smelters due to equipment breakdown earlier this week accounted for the rise. The TC was also up $1/mt as of Friday June 1, compared...Read More
Striking Escondida workers clash with police March 2017 (Image: Telam | YouTube)Copper's stunning rally this week continued in New York on Thursday with the metal touching a high of $3.32 a pound ($7,310 a tonne), the highest since January 2014, before paring some of those gains as worries about labour-related supply disruptions in key producing regions resurface.Workers at the Escondida copper m...Read More
GABORONE, June 7 (Reuters) - Private equity firm Cupric Canyon will begin construction of its Khoemacau copper project in Botswana in October, with first sales of the metal expected in 2021, a company executive said on Thursday.Sparsely-populated Botswana is the world's top diamond producer by value, but the government of the southern African country is trying to diversify the economy to reduce it...Read More
Brazil's President Michel Temer is set to issue a decree next week introducing key changes to current mining regulations, aimed at making the country's industry more competitive and sustainable.The executive order will technically be a reinterpretation of 50-year-old regulations, rather than a new law, Adriano Trindade, attorney specializing in mining rules from Pinheiro Neto Advogados told MININ...Read More
World's No. 2 miner Rio Tinto (ASX, LON:RIO) has joined forces with Minmetals, one of the biggest Chinese mining companies, to explore for mineral deposits first in the Asian country and then the rest of the world .The 50-50 joint venture with state-backed Minmetals follows a technical agreement signed in November, when both parties committed to collaborative search for new ore bodies."The formali...Read More
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday.The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened...Read More
Australian copper-gold miner OZ Minerals (ASX:OZL) moved closer to having control of takeover target Avanco Resources (ASX:AVB) Thursday, as it declared its cash and shares offer for the for Brazil-focused explorer "unconditional."The Adelaide-based company is offering Avanco shareholders 8.5c in cash and 0.009 of its own shares for every Avanco share held, valuing the company at A$418 million (a...Read More
SHANGHAI, Jun 7 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightThe US dollar fell for three consecutive trading days and closed at 93.6 overnight while the euro climbed up. Following Canada and Mexico,the European Commission approved the decision on Wednesday to impose additional duties on the full list of US products submitted to...Read More
* FTSE 100 up 0.3 percent* Miners drive strongest gains* Smurfit rises as U.S. rival drops bid* RPC looking to sell assets, stock tumbles (Updates prices, adds details, quotes)By Danilo Masoni and Helen ReidMILAN/LONDON, June 6 (Reuters) - Gains among mining stocks on stronger metal prices helped British shares outperform a sluggish European equity market on Wednesday, while packaging firm RPC sol...Read More