Goldman Sachs analysts, in a recent research note, highlighted the potential for copper to become a crucial growth driver for mining companies. This outlook is driven by an expanding supply deficit coupled with escalating demand fueled by the energy transition. The analysts foresee that mining companies’ strategies will increasingly focus on pursuing copper growth. They...
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China’s copper smelters, which produce half of the world’s refined copper, are experiencing a tightening of margins due to increased competition for mined copper supplies. This intensified competition is affecting the sector, but significant output cuts that could tighten the metal market are deemed unlikely. Mostly state-owned, Chinese copper producers are under pressure to maintain...
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GoldCorp has announced plans to construct a copper cathode production plant in the Karkaraly district of the Karaganda region, with the goal of launching the facility in 2026. The construction, set to commence in August 2024, is estimated to take 18 months. However, the company has indicated that the start and completion dates may vary...
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The Saudi Rafd Copper Industrial Company has entered into an engineering works agreement and a technology licensing agreement with Glencore Purification Company. This agreement, signed on the sidelines of the Mining Conference, marks the initiation of a copper smelting and purification project of significant scale. The project boasts a production capacity of 400 thousand tons...
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Taseko Mines, with its Gibraltar mine in British Columbia, has reported a stronger-than-anticipated copper output for the full year, underpinned by a robust fourth-quarter performance. The mine produced 34 million pounds of copper and 369,000 pounds of molybdenum in the last quarter of the year. For the entire year, Gibraltar mine’s production reached 123 million...
READ MOREThe Mopani Copper Mines in Zambia are set for a major shift, with UAE’s International Resources Holding (IRH) scheduled to take over by the end of February. According to Finance Minister Situmbeko Musokotwane, the new investor plans to inject a substantial investment of USD 620 million into the copper mine. Notably, investments of USD 130...
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End of Tenure at Poland’s Prominent Copper Producer In a recent development, Marek Swider has resigned from his position as the Deputy CEO of KGHM Polska Miedz, a major player in the copper production industry. This resignation also marks the end of his tenure on the company’s management board, as confirmed in a market filing...
READ MOREIvanhoe Mines’ impressive copper production in the Congo was paralleled by Nickel 28 Capital’s robust output in Papua New Guinea, signaling strong market resilience. Meanwhile, Conexus Resources Group’s inauguration of a major aluminium rod facility in Bahrain marked a significant stride in the Middle East’s manufacturing landscape. Spain, however, grappled with environmental challenges in its...
READ MOREAlara Resources Limited has announced the progress of commissioning activities at its Al Wash-hi Majaza Copper-Concentrate Production Plant. The dry, wet, and hot commissioning activities, which began in November 2023, are still in progress. The commissioning process faced a setback due to a manufacturing defect in the high-speed couplings of the SAG Mill, which is...
READ MOREEnhanced Earnings in 4Q23 and Future Outlook Korea Zinc is expected to show improved earnings in the fourth quarter of 2023, driven by an increase in sales volume and prices. The company’s 4Q23 sales are projected to be around W2.45tn, marking a 6.9% quarter-on-quarter growth, with an operating profit of W186bn. This growth is attributed...
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Copper Sales and Production Targets Set KGHM Polska Miedz, a major player in the copper industry, has outlined its ambitious targets for 2024. The company is set to sell 593,200 tonnes of payable copper, as per the group’s latest market filing. This projection aligns with the company’s growth strategy and market expectations. Details on Copper...
READ MOREContext of Global Mineral Supply Glencore’s mining operations in Peru have highlighted the environmental and human rights issues inherent in the mining industry. With copper and other critical minerals in high demand for green technology, the focus shifts to major mining and refining countries like China. Europe’s dependency on single-country supplies, particularly in light of...
READ MOREAdjustment in TC/RCs China’s leading copper smelters have revised their first-quarter guidance for copper concentrate processing treatment and refining charges (TC/RCs), signaling a decrease due to tightening supply conditions. The new rates, set by the China Smelters Purchase Team (CSPT) at their recent meeting, stand at $80 per metric ton and 8 cents per pound....
READ MOREWithdrawal of Oz Exploration from Benmara Project Resolution Minerals Ltd (RML) has announced that Oz Exploration Pty Ltd (OZE), a subsidiary of BHP Group Limited, has decided not to continue with further earn-in activities at the Benmara Copper Project in the Northern Territory. This decision follows the acquisition of OZ Minerals Limited by BHP and...
READ MOREBoost from Chinese Manufacturing Data Prices for most base metals have seen an uptick following the release of encouraging manufacturing data from China. This positive shift in the market is partly attributed to improved manufacturing activity in China, the world’s largest consumer of these metals. November industrial profits in China showed double-digit gains, reinforcing investor...
READ MOREKey Development in Oman’s Mining Sector The Yanqul Copper-Gold Project, developed by Mazoon Mining (MMC), a subsidiary of Minerals Development Oman (MDO), is set to make significant progress. Australian-based engineering and project management firm Lycopodium has been awarded a contract to provide Engineering, Procurement, and Construction Management (EPCM) services for this ambitious project. Project Scope...
READ MORERobust Domestic Market Growth The year 2023 has been significant for copper demand in India, reflecting the country’s strong economic growth. Despite global headwinds, domestic copper demand has shown remarkable resilience. This robust demand is mirrored in the performance of key players in the Indian copper industry. Hindustan Copper Ltd’s share price nearly doubled over...
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Exploration Initiatives in Germany The British-American mining giant, Anglo-American, has been granted an exploration permit by the State Office for Mining, Energy and Geology (LBEG) for a significant area in southern Lower Saxony. This permit enables the company to conduct preliminary investigations for potential copper mining, with prospects for zinc and gold also in the...
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Polish copper giant KGHM has reported a significant increase in its copper sales and production for November, according to a recent market filing. Growth in Copper and Silver Sales KGHM’s copper sales in November reached 64.8k tonnes, marking a notable 6% increase compared to the same period last year. This surge aligns with the company’s...
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Groundbreaking in Clarksville, Tennessee LG Chem Ltd., South Korea’s top chemical company, has begun construction of its first cathode production facility in the United States. The groundbreaking ceremony took place in Clarksville, Tennessee. This move aligns with LG Chem’s ambition to become a dominant player in the global battery materials market. Investment and Production Capacity...
READ MORECopper Emerges as Top Industrial Metal Copper is set to outshine other industrial metals this year, thanks to a series of supply disruptions. Currently priced at $8,600 per ton, copper prices have witnessed a 2.5% increase this year, driven by constrained supply in the global market. Factors Contributing to Supply Tightness The closure of a...
READ MOREA Breakthrough in Battery Material South Korea’s LS Cable has made a significant advancement in battery technology, developing a new copper foil material designed for high-performance batteries used in electric vehicles (EVs). This innovative material is set apart from traditional copper wire-based foils, as it incorporates copper flakes, including scrap copper from cable and wire...
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Current Market Dynamics Copper prices experienced an uptick, climbing 0.6% to $8,537 per metric ton, as the market reacts to emerging supply concerns and declining inventories. This month, copper prices reached a 4-1/2-month high of $8,640 a ton, although trading volumes remained subdued. Factors Influencing Copper Market Aluminium Market Impact Overall Market Sentiment
READ MOREStrategic Approach Post Coal Mines Sale Teck Resources Ltd., led by CEO Jonathan Price, is poised to have a cash influx of US$9-billion from the sale of its coal mines in British Columbia. With this substantial amount, Teck, Canada’s largest mining company, faces numerous opportunities for expansion, particularly in copper mining. Expansion Plans and Investor...
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