Base Metals

Metorex focuses on cutting debt

Metorex, which has sold off a number of assets, is continuing to look for ways to cut debt sharply by December. It posted disappointing full-year results.

Glencore’s Zambia unit to start new copper mine

A unit of Swiss company Glencore International will develop an open pit copper mine in Zambia after authorities approved its proposal for the project.

Strategic investors approach Metorex

Metorex says it might bring a strategic investor into the holding company or into its assets as part of a plan to address more than R2bn of debt in the group by December 2009.

New Anglo zinc deposits in Southern Africa

Anglo American says it has found a new zinc deposits near its Skorpion mine in Namibia and the Gambsberg deposit in South Africa.

Rio’s China iron ore talks suspended

Global miner Rio Tinto has ceased iron ore price talks with Chinese customers, but it denied a media report the talks had ended because of the detention of its negotiators.

Copper gains around 1%

Copper futures rose 1% on Wednesday, reversing early losses in a choppy trading pattern that is set to continue as investors weigh increasingly positive data against fears the rally is overdone.

Exxaro shuns Corridor Sands

UPDATED - Exxaro urgently needs to find extra feedstock for its KZN titanium smelters but the Corridor Sands heavy sands deposit in Mocambique does not fit the bill.

Copper entering a bull phase

Copper prices will top $6,500/tonne in the fourth quarter of 2009 on the back of increased demand. The outlook for copper is bullish over the next three years.

Congo may renegotiate First Quantum deal

Democratic Republic of Congo may review its decision to cancel a copper and cobalt project in which First Quantum Minerals is the majority stakeholder.

KGHM says plans for large output rise unrealistic

Copper producer KGHM dropped plans to boost production by some 40% next year because it no longer planned to make a large acquisition of foreign deposits.