Tuscon News Now reported yesterday that Augusta Resource Corp. (TSX:AZC), owner of the Rosemont Copper mine in the Santa Rita Mountains in Arizona, is facing a buyout from 10 outside firms, including Hudbay Minerals (TSX:HBM). Directors of Augusta have not provided details of the bids due to confidentiality agreements.
Copper Company News Directory
Aston Bay Holdings Ltd. (TSXV:BAY) has signed a memorandum of understanding with Lyncorp International Ltd., which is 100% owned by David Mullen, to purchase four Christensen CS10 Core Drills with all associated equipment in addition to other equipment. The closing of the deal will be subject to, among other things, confirmation that the title to the equipment is in good standing, and the receipt of an appraisal for the equipment.
Bloomberg reported today that Gecamines, the Democratic Republic of Congo’s state mining company, is planning growth in copper production this year as it looks for funding for new projects. The company is also looking for financing for its 100% owned Deziwa and Ecaille C mining concessions,m according to Bloomberg.
Northern Life reported yesterday that Vale (NYSE:VALE) stopped operations at its Copper Cliff mine after an equipment malfunction on Sunday.
Copper Fox Metals Inc. (TSXV:CUU) provided an update on the Van Dyke oxide copper deposit in Arizona. Diamond drilling has commenced on the property, with two additional drill holes pre-collared into bedrock.
Reuters reported that Glencore Xstrata plc (LSE:GLEN) has sold its interest in the Peruvian Las Bambas copper mine to a Chinese consortium led by MMG Ltd. (HKEX:1208).
Indico Resources Ltd. (TSXV:IDI) announced assay results for eight additional drill holes of its Phase 3 program at Ocaña, Peru. Results indicate that the mineralization should be amenable to low-cost heap leach processing.
Copper Fox Metals Inc. (TSXV:CUU) has entered into a subscription agreement with Carmax Mining Corp. (TSXV:CMX) through its wholly owned subsidiary Desert Fox Copper Inc.
Copper Mountain Mining Corporation (TSX:CUM) announced production results for the first quarter of 2014 from its southern British Columbia Copper Mountain mine. Highlights included an increase of nine percent for shipments from the previous quarter.
Cecilia Jamasmie of Mining.com reported that Chilean state-owned copper miner Coldeco has found new copper deposits containing over 1,800 million tonnes of high-grade ore in Chile.