TOP NEWS
The Democratic Republic of the Congo cobalt, coltan, lithium andgermanium as strategic minerals, resulting in higher royalties for thegovernment, Reuters reported, citing Jean Nkunza, an adviser to the primeminister.
ValeSA plans toredeem 4.625% guaranteed notes due 2020 and launched a buybackoffer for up to US$1.75 billion of its 2021 and 2022 guaranteed notes. The 2020notes, of which US$498.8 million remains outstanding, will be redeemed April 17.
NewcrestMining Ltd. declared force majeure on the supply of copper concentrates fromthe Cadia gold-copper mine in New South Wales, Australia, Metal Bulletin reported,citing two sources. The miner was forced to halt operations at the sitefollowing a tailings dam breach March 9.
DIVERSIFIED
* The Minerals Council of Australia, or MCA, receivedpositive reviewshaving moved to "close the gaps" in its energy policy identified byBHP Billiton Groupwhich is reviewing its membership with the industry lobbyist. S&P GlobalMarket Intelligence has confirmed that BHP was consulted on the council's policychange, as was another member, Rio Tinto, which faces a shareholder resolution at itsApril 11 AGM in London requesting it review the climate policies of industrygroups to which it belongs.
* AngloAmerican PLC's tender offer to repurchase 2019, 2020 and 2021 noteswas undersubscribed with the mining giant accepting for repurchase €590.8million worth of these notes. Settlement is expected to occur March 19.
BASE METALS
* Red RiverResources Ltd. acquired the remaining in the Mount Windsor copperproject, contiguous with its Thalanga, Truncheon and Ermine projects in Queensland,Australia, for A$150,000.
* GlencorePlc agreed tosell about 52,800 tonnes of cobalt hydroxide, or about a third ofits cobalt production in the next three years to Chinese battery recycler GEMCo. Ltd., Reuters reported.
* FirstQuantum Minerals Ltd. said a small number of workers at itspreproduction-stage CobrePanama copper property in Panama are . The industrial action beganMarch 9 and does not involve the dominant union that represents the majority ofCobre Panama workers. Work levels at the project have decreased as a result,with development continuing in two of four main construction areas.
* The BHPBilliton Group-majority owned Escondida copper mine in Chile invited aworkers' union for early wage talks, Reuters reported.
* KGHM PolskaMiedz SA narrowed its net loss to 134 million polish zlotys in thefourth quarter of 2017, from a net loss of 5.08 billion zlotys in the year-agoperiod, as a result of lower impairments of 310 million zlotys recorded in theperiod compared to 5.3 billion zlotys in the fourth quarter of 2016. Salesrevenue declined 2.4%year over year to 5.87 billion zloty due to 13% lower volume of payable coppersales, partially offset by higher copper prices.
* KapuskasingGold Corp. terminated an option deal with over theDaniel's Harbourzinc project in Newfoundland and Labrador.
* GlobalEnergy Metals Corp. signed a letter of intent the Mount Dorothy and CobaltRidge cobalt projects in Queensland, Australia, collectively known as the MountIsa cobalt projects, from HammerMetals Ltd.
* ArdeaResources Ltd. posted an updated resource estimate for the KNP zoneat its Kalgoorlie property in Western Australia 108,400 tonnes ofcobalt and 856,900 tonnes of nickel in terms of contained metal. KNP hostsresources totaling 108.3 million tonnes at 0.10% cobalt and 0.79% nickel usinga cutoff grade of 0.08% cobalt or 0.5% nickel.
* GalenaMining Ltd. released updated lead-silver resources for itsAbra propertyin Western Australia. Abra hosts high-grade indicated and inferred resourcestotaling 11.2 million tonnes grading 10.1% lead and 28 g/t of silver using a cutoffof 7.5% lead.
PRECIOUS METALS
* The U.S. District Court for the District of Columbia ruledin favor of Rusoro MiningLtd. and upheld a US$1.3 billion arbitration award against theVenezuelan government. A World Bank tribunal granted the award to Rusoro inAugust 2016 after a ruling found that Venezuela had unlawfully expropriatedRusoro's mining operations in the country.
* Production resumed at St Barbara Ltd.'s Simberi gold mine in Papua New Guinea after anillegal work stoppage was resolved.
* PacificoMinerals Ltd. signed an option to acquire the Violin gold-copper project in Mexico byacquiring the all issued share capital of project owner Minera GS SA de CV.
* Abu Dhabi sovereign investment fund Mubadala-ownedSociedad Minera de Santander will file a new environmental licensingapplication in April for its Soto Norte gold project in Colombia. The decisionputs on hold an undergoing permit process that was questioned by a local courtin February. The new application will include further information gathered fromstudies and interactions with nearby communities, daily Portafolio reported.
* Sabina Gold& Silver Corp. received a type-B from the Nunavut waterboard for its BackRiver gold project. The type-A water license is expected by the endof this year 2018.
* ScotgoldResources Ltd. soldoff its subsidiary SGZ France SAS, which holds the Vendrennes explorationlicense in France, for €1.0 million to Ikigai Ltd.
BULK COMMODITIES
* En+ Groupplc's net profit in the fourth quarter of 2014 dropped36.9% year over year to US$505 million, as the year-ago quarter included aUS$299 million sale of its 100% stake in Alumina Partners of Jamaica. Revenuein the quarter jumped 31.3% year over year to US$3.38 billion. For the fullyear, the company's net profit increased 3.1% to US$1.40 billion, while revenuesurged 23.7% to US$12.09 billion on the back of higher sales.
* A Tata SteelUK Ltd.-backed pension fund will be created after meeting minimumsize and funding criteria, clearingthe way for the company's planned merger with Germany's , Reuters reported.
* RioTinto will remain a member of the Minerals Council of Australiadespite an activist shareholder's push to exit the lobby group, The Australian reported.Meanwhile, the Minerals Council of Australia releaseda new energy policy, saying "sustained global action" is needed tocut the effects of human activity on the climate. BHP Billiton had threatenedto leave the council if it did not stop promoting cleaner coal-fired power overother energy sources.
* Confirming market speculation, said it was indiscussions with Shaanxi J&R Optimum Energy Co. Ltd. about a potentialcontrol transaction.
* Bauxite shipments resumedafter rioting subsided in the Guinean mining towns of Boke and Kamsar, Reutersreported. Meanwhile, two people were killed in violent clashes in the country.
* Brazilian President Michel Temer said that his governmentand other countries are considering filing a complaint with the World TradeOrganization against the steel and aluminum tariffs announced by the U.S.,Metal Bulletin reported.
SPECIALTY
* MustangResources Ltd. outlined a two-stage development plan for the Caula graphiteproject, part of its Balama property in Mozambique, and said it is on trackfor first production in mid-2109. The stage one development strategy comprisesa mining operation of about 100,000 tonnes per year of ore for 10,000 t/y to15,000 t/y of high-grade graphite concentrate.
* Gem DiamondsLtd. is targetingsavings of US$100 million in costs and efficiency by 2021 at its diamond mine inLesotho, Miningmx reported. CEO Clifford Elphick said that about US$25 millionof savings had already been identified. The company is also looking to renewits mining lease, which will expire 2024.
* LithiumPower International Ltd. secured a key regulatory from the ChileanNuclear Energy Commission to produce, market and export lithium products fromits 50%-owned Maricunga lithium brine project in Chile for a 30-yearperiod.
INDUSTRY NEWS
* The Indonesian Energy Ministry amended six contracts ofwork on minerals, which will bring additional income of US$20 million, The Jakarta Post reported,citing Bambang Gatot Ariyono, director of mineral and coal.
The Daily Dose is updated as of 7 a.m. ET, and scans news sourcespublished in Chinese, English, Indonesian, Malay, Portuguese, Russian, Spanish,Thai and Ukrainian. Some external links may require a subscription.
