Uzbekistan has unveiled an ambitious plan to process up to 300,000 tons of copper annually within its domestic market. Ural Yusupov, Deputy Minister of Mining and Geology, shared the country’s vision during the International Congress on “Mining Industry and Geology of Uzbekistan and Central Asia.” To achieve this goal, Uzbekistan is developing industrial clusters, technoparks,...
READ MORECopper production in Chile, the world’s largest copper producer, is forecasted to reach between 5.4 and 5.6 million tons in 2025, according to the National Mining Association (Sonami). This projection reflects continued optimism about the sector’s stability and growth. Chilean mining companies anticipate copper prices to range between $4.20 and $4.50 per pound next year,...
READ MOREGlobal copper smelting activity reached its highest level since February last month, as average smelter inactivity fell to 13.4%, down 2.7% from October, according to Earth-i’s Savant Global Copper Monitoring Index. The index, which tracks smelter performance using satellite data, highlighted significant gains outside of China, reversing typical trends. China, responsible for over 40% of...
READ MOREBank of America (BofA) has revised its copper and lithium price forecasts for 2025, pointing to economic uncertainties and trade tensions that could weigh on procyclical commodities. The bank has lowered its 2025 copper price projection by 12%, from $4.88 per pound to $4.28, and its 2026 forecast by 20%, from $5.44 to $4.88. These...
READ MOREThe acquisition of Khoemacau Copper Mining by MMG has opened doors to realizing the full potential of this resource-rich project in Botswana. MMG, a global mining company with operations across four continents, brings the financial backing and technical expertise needed to drive growth and transformation. Logic Sebopeng, General Manager of the mine, described the acquisition...
READ MOREDevelop Global is making substantial progress on the redevelopment of its Woodlawn copper-zinc mine in New South Wales, with first production anticipated in the June quarter of next year. The refurbishment of the processing plant, now 50% complete, is being undertaken by GR Engineering Services (GRES) and Develop’s in-house team, positioning the mine for rapid...
READ MOREToronto-based metals recycling company Cyclic Materials Inc. has secured a multiyear agreement with Glencore PLC to supply copper extracted from electronic scrap. The Swiss-based mining giant will process the recycled copper at its Horne Smelter and Canadian Copper Refinery in Quebec, converting it into copper cathode for use in new products. The financial terms of...
READ MOREAurubis, a leading multimetal producer, has inaugurated a state-of-the-art recycling plant at its Olen site in Belgium. The facility, named the Bleed Treatment Olen Beerse (BOB) plant, is a hydrometallurgical installation designed to recover valuable metals such as nickel and copper from electrolyte streams generated during metal production at Aurubis’ Belgian sites in Olen and...
READ MOREAurubis AG, a leading provider of non-ferrous metals and one of the largest copper recyclers globally, closed the 2023/24 fiscal year with strong financial results. Operating earnings before taxes (EBT) rose to €413 million, up from €349 million in the previous year. Net cash flow remained robust at €537 million, and return on capital employed...
READ MORECanadian base and precious metals miner Sierra Metals (TSX: SMT | OTCQX: SMTSF) announced that its Yauricocha polymetallic mine in Peru has reached full production. The underground copper-gold-silver mine is now processing ore at a throughput rate of 3,600 tonnes per day, a 30% increase compared to December 2023 levels. The milestone follows the receipt...
READ MOREAs the world accelerates towards green energy solutions, experts are raising concerns about an impending copper shortage that could threaten efforts to provide clean and affordable energy. Swiss bank UBS forecasts a supply deficit of over 200,000 tons by 2025, while the International Energy Forum emphasizes the urgent need for over a billion tons of...
READ MOREBHP, the world’s largest mining company, remains flexible in its approach to copper growth, whether through expanding its existing operations or pursuing acquisitions. Speaking on Thursday, Geraldine Slattery, BHP’s president of Australia, emphasized that the company is not strictly focused on either internal or external growth to increase its copper footprint. “Growth is certainly a...
READ MOREChilean miner Antofagasta and China’s Jiangxi Copper have agreed to significantly lower processing fees for copper concentrate in 2025, according to four sources with knowledge of the matter. The agreed treatment and refining charges (TC/RCs) of $21.25 per ton and 2.125 cents per pound represent a steep 73.4% drop from the $80 per ton and...
READ MOREThe London Metal Exchange (LME) saw refined copper closing at $9,068 per ton, up $4 or 0.04% on the official three-month goods price basis. Despite ongoing concerns about China’s economic outlook, copper prices remained above the $9,000 mark, buoyed by hopes for government stimulus measures. LME copper stock levels, excluding canceled warrants, continued their 12-day...
READ MOREMitsubishi Corp. has reported a loss of over $90 million in its Chinese operations following suspected fraudulent activity by one of its copper traders. The loss is the latest in a series of incidents affecting major commodity trading firms, raising concerns about the risks individual traders may pose when handling substantial sums in global commodity...
READ MORERio Tinto appears to be focusing on developing its existing copper resources rather than pursuing new acquisitions to boost copper production, according to analysts from Morgan Stanley. Following an investor briefing, the analysts noted that Rio Tinto’s new copper chief, Katie Jackson, is concentrating on ramping up production at the Oyu Tolgoi mine and addressing...
READ MOREAustralian mining giant Rio Tinto has forecast a significant increase in consolidated mined copper production for fiscal year 2025, driven largely by a projected 50% surge in output from its Oyu Tolgoi operation in Mongolia. The company, traditionally reliant on iron ore profits, is pivoting its focus towards copper, anticipating a 3% annual growth from...
READ MOREThe United States is making significant investments in the Lobito rail corridor, which links Angola’s Atlantic coast to the Democratic Republic of Congo (DRC) and Zambia. The aim is to secure access to critical minerals like copper and cobalt, which are essential for electric vehicles and the broader energy transition away from fossil fuels. Revitalized...
READ MOREThe European Investment Bank (EIB) has signed a 30 million euro loan agreement with Andalusian company Cunext to finance the construction of a copper cathode production plant in Córdoba. The facility will use recycled materials, specifically copper anodes, to produce high-purity copper through advanced electrolysis technology, aiming to reduce reliance on primary copper sourced from...
READ MOREAccording to SMM, Chile’s National Institute of Statistics (INE) reported a 3.0% year-over-year increase in the country’s manufacturing production in October. The agency also noted that copper production in October rose by 6.7% year-over-year to 492,804 metric tons. Chile remains the world’s largest copper producer, maintaining its key role in the global copper supply chain.
READ MORECopper prices fell on Wednesday on the London Metal Exchange (LME), weighed down by a stronger dollar and technical factors. The market is awaiting more clarity on demand prospects in China, the world’s top metals consumer, as well as possible trade tariffs. Three-month copper on the LME declined by 0.2% to $9,093 per metric ton...
READ MOREForan Mining (TSX: FOM) has provided a construction update for its 100%-owned McIlvenna Bay copper-zinc mine, which is progressing toward initial production in the fourth quarter of next year. The project is located in Saskatchewan, about 65 kilometers west of Flin Flon, Manitoba. McIlvenna Bay hosts the largest undeveloped volcanogenic-hosted massive sulphide (VHMS) deposit in...
READ MOREIvanhoe Mines announced that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) set a new monthly production record of 45,019 tonnes of copper in concentrate during November. The concentrators processed 1.2 million tonnes of ore with an average feed grade of 4.58% copper....
READ MORERio Tinto and Sumitomo Metal Mining (SMM) have signed a term sheet for a joint venture to advance the Winu copper-gold project, located in the Great Sandy Desert region of Western Australia. Under the agreement, Rio Tinto will continue to develop and operate Winu as the managing partner, while SMM will acquire a 30% equity...
READ MORE
