Thursday, March 22, 2018

Zambia asks mining firms to cut output as it tests a recently rehabilitated power plant.

First Quantum said it was mystified by a newswire story saying the Democratic Republic of Congo government had cancelled its $600m tailings treatment project.

Rio Tinto's Palabora Mining declared a substantial interim dividend on Tuesday following a drop in net earnings coupled with an increase of cash in hand.

African Eagle has seen promising results from its second nickel deposit, but said it is too early for the company to make a decision on whether or not to change its focus from Dutwa.

Copper and aluminium prices struck multi-month highs on Friday, fuelled by economic data suggesting global economic recovery may be on the way.

Zambia's largest cobalt producer Chambishi Metals has agreed cobalt concentrate supply deals with some mines in the Democratic Republic of Congo.

Metorex's flagship Ruashi mine exceeded company expectations in the June quarter, overshooting production expectations by nearly 1,000 tonnes.

Metorex sells a 15% stake in its Vergenoeg fluorspar mine, raising R108m towards funding of its Ruashi copper/cobalt mine and paying down debt.

China Nonferrous Metal Mining Corp (CNMC) will start building its Mulyashi copper mine in Zambia from January next year.

Anglo American's fall in interim earnings will be overshadowned by its efforts to show it does not need to merge with Xstrata.