Chile’s state-owned copper producer Codelco has applied for an environmental permit to extend the life of its Gabriela Mistral mine by more than 25 years. The proposed $800 million project would push the current closure date from 2028 to at least 2055, ensuring continued production at the Antofagasta region mine, which has been operational since...
READ MOREBase metals experienced a turbulent 2024, starting the year cautiously before surging to highs in the second quarter, only to return to initial levels by year’s end. The rally, fueled by optimism over a Chinese economic recovery and global energy transition, peaked in May when copper reached an all-time nominal high and the London Metal...
READ MOREState funding for the Copperwood Mine project in Michigan’s Upper Peninsula has encountered another delay. The state Senate Appropriations Committee, chaired by Senator Sarah Anthony (D-Lansing), declined to vote on a proposed $50 million grant for the controversial project during its latest meeting. This marks the second time this year the funding has stalled. The...
READ MOREThe Indian National Trade Union Congress (INTUC) staged a protest on Friday at Chidambaranagar, demanding the reopening of the Sterlite Copper plant in Thoothukudi. The plant was closed following Supreme Court orders, but INTUC argues its revival could address significant employment and economic challenges in the region. Led by INTUC Working President Kathirvel, over 500...
READ MORECopper and gold prices saw upward momentum on Friday, driven by developments in global production and demand as well as broader economic conditions. On the London Metal Exchange (LME), three-month copper contracts rose to $8,914 per tonne, marking a 0.4% increase. This gain was supported by a 1.6% decline in China’s refined copper production in...
READ MOREHorizon Copper has provided an update regarding the arbitration proceedings initiated by Entrée Resources Ltd. concerning its Joint Venture Agreement (JVA) with Oyu Tolgoi LLC (OTLLC) and Turquoise Hill Resources Ltd. on the Oyu Tolgoi copper project in Mongolia. On December 19, 2024, Entrée announced that an international arbitration tribunal delivered a partial final award...
READ MOREKGHM, a listed copper group, has outlined its production and financial expectations for 2025, with significant contributions from its domestic and international operations. According to a market filing, KGHM Polska Miedź, a key unit of the group, is projected to sell 572,900 tonnes of payable copper in 2025. The unit’s production targets include 392,300 tonnes...
READ MOREThe ongoing conflict between South Korea’s Korea Zinc and private equity firm MBK Partners has escalated, with both sides exchanging public criticisms over business strategies and governance. The dispute began in September when shareholder Young Poong, a co-founding family entity, joined forces with MBK Partners to make an unsolicited bid for a majority stake in...
READ MOREThe global refined copper market recorded a surplus of 287,000 tonnes in the January-October period of 2024, up from 9,000 tonnes in the same period last year, according to the International Copper Study Group (ICSG). Refined copper production rose 3.7% year-on-year to 22.77 million tonnes, while consumption increased by 2.5% to 22.48 million tonnes. In...
READ MORENewRange Copper Nickel has successfully concluded a $20 million salvage and recycling project at the site of the former LTV Steel facility near Hoyt Lakes, Minnesota. This effort, one of the largest of its kind in the state’s history, has paved the way for the NorthMet copper-nickel project by creating a safer and cleaner work...
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Nornickel, a top Russian miner and a leading palladium and nickel producer, has outlined varying outlooks for the markets of copper, nickel, platinum, and palladium in 2025, with different factors shaping supply and demand dynamics for each metal. Copper The global copper market, currently experiencing a surplus of 200,000 tonnes in 2024, is expected to...
READ MOREChilean state-owned companies Codelco and Enami have finalized the sale of a 10% stake in the Quebrada Blanca mining property, with Codelco acquiring Enami’s share for $520 million. This transaction solidifies Codelco’s position in one of Chile’s most significant copper deposits. The deal, which follows the completion of a due diligence process, included a $338...
READ MOREThe global copper market is poised for a volatile year in 2025, with a mix of positive and negative factors shaping price, demand, and supply dynamics. Despite the bullish momentum seen in 2024, driven by the emerging artificial intelligence (AI) sector and increased demand for data centers, several uncertainties are clouding the outlook. At the...
READ MOREChina’s copper concentrate and ore imports in November 2024 totaled 2.245 million metric tons, marking a decline of 2.98% month-on-month (MoM) and 8.1% year-on-year (YoY). This monthly import volume fell below the annual average level of 2.33 million metric tons. Despite the November downturn, cumulative imports from January to November reached 25.645 million metric tons,...
READ MORESumitomo Metal Mining (SMM) has entered exclusive negotiations with Rio Tinto to acquire a 30% stake in the Winu copper-gold project in Australia, owned by the British mining giant. If the deal is finalized, Rio Tinto will retain a 70% interest in the project and continue as its operator. The agreement includes an upfront payment...
READ MOREPeru’s copper production fell by 1.4% in October compared to the same month last year, with total output reaching 236,797 metric tons, according to official data from the Energy and Mining Ministry. The decline is attributed to reduced output from two of the nation’s largest mines: Cerro Verde, controlled by Freeport-McMoRan, and Antamina, operated jointly...
READ MOREBioscope Technologies has commissioned a secondary copper electrowinning plant at its bio-refinery in Cambridge, marking the first such facility in the UK since the closure of the IMI James Bridge copper refinery in 1999. The plant utilizes cutting-edge technology developed in partnership with emew Clean Technologies to recover 99.995% cathode-grade copper from printed circuit boards...
READ MOREBattery Mineral Resources (BMR) has announced the continued production and shipment of copper concentrates from its Punitaqui mineral processing facility in Chile. Between September and November 2024, the company supplied a total of 2,755 dry metric tonnes (DMT) of copper concentrates, marking significant progress in its production targets. Of the total, 1,131 DMT were delivered...
READ MOREGunnison Copper has announced progress in the construction of the fully permitted Johnson Camp Mine (JCM) in southeast Arizona, with first copper production expected by mid-2025. The company confirmed that mining activities, including pre-stripping, have begun following the mobilization of the mining fleet. The latest update builds on the August 2024 report, which highlighted the...
READ MOREAn independent review of the Panguna copper mine on Bougainville Island, a territory in the South Pacific, has identified several pressing issues, including unstable structures, potential landslide hazards, and contamination of soil and water in nearby areas. The mine, once operated by Anglo-Australian mining company Rio Tinto, ceased operations in 1989. Rio Tinto divested its...
READ MOREThe U.S. Treasury Department’s sanctions on Russia’s Gazprombank have created a significant challenge for the $4.8 billion expansion of Uzbekistan’s Yoshlik copper mine. This project, managed by state-owned Almalyk, is key to nearly doubling the country’s copper production by 2026. However, the sanctions, which remove Gazprombank from the international payments system, may disrupt the critical...
READ MORELundin Mining Corporation has announced a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB for up to $1.52 billion. The transaction includes an upfront cash payment of $1.37 billion and up to $150 million in contingent payments based on future copper and zinc prices. The deal...
READ MOREIndia’s copper demand reached 1,700 kilotonnes (kt) in FY2024, marking a 13% year-on-year increase, according to a release from the International Copper Association India (ICA India). This surge is attributed to the country’s overall economic expansion, with average annual copper demand growing by 21% per year post-pandemic. Domestic production of copper cathodes also rose by...
READ MORENippon Denkai has announced the closure and liquidation of its copper foil manufacturing plant in the United States, marking the end of domestic production of this material. Denkai America Inc., the US-based subsidiary of the Japanese company, will cease operations just two years after significant investments were planned to revitalize the facility. The company cited...
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