Significant Increase in Investment for Minerals Vale, the global iron ore giant, plans a substantial investment of $6.5 billion in 2024, a notable increase from its 2023 investment of $6 billion. BNAmericas reports that of the total 2024 investment, $2.5-3 billion will be specifically allocated to minerals crucial for energy transition technologies, such as copper...
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Expansion of Land Holdings Silver One Resources, a prominent mining company, announced the acquisition of additional claims adjacent to their Phoenix Silver Project near Globe, Arizona. This expansion is aimed at covering regional magnetic anomalies in the southern part of the property, potentially indicative of porphyry copper systems. Strategic Location in a Prolific Copper Belt...
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Current Market Status Copper prices remained stable on Monday, maintaining the momentum from last week’s 1.2% gain, influenced by supply disruptions. As of 0450 GMT, three-month copper on the London Metal Exchange was steady at $8,547.50 per metric ton. Supply Disruptions Influencing the Market The market has been bolstered by disruptions in copper mine supply,...
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Alligator Makes Strategic Investment in EnviroCopper Ltd for ISR Copper Projects in South Australia Key Investment Highlights Advantages of ISR Technology Collaboration and Advisory Committee Bindura Nickel Corporation Reports 43% Revenue Drop Amid Global Nickel Price Decline Revenue Decline in 2023 Bindura Nickel Corporation (BNC), listed on the Victoria Falls Stock Exchange, experienced a significant...
READ MORECopper Prices Rebound on the London Metal Exchange Copper prices on the London Metal Exchange have started to rise after a prolonged slump, prompting analysts to revise their forecasts for a surplus of the red metal in the global market. For instance, Macquarie Bank now predicts a surplus of 100 thousand tonnes in 2024 and...
READ MOREStrategic Growth in Copper Sector Uzbekistan has set a goal to boost its copper production and processing by 20% in 2024. This plan was highlighted during a meeting between President Shavkat Mirziyoyev and regional administration representatives, emphasizing the country’s focus on expanding its copper industry. Target for Copper Production The meeting underscored the objective to...
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Strategic Expansion in East Java President Joko Widodo has inaugurated the expansion of PT Smelting Gresik in Gresik Regency, East Java, marking a significant step in Indonesia’s copper industry. This expansion is expected to substantially increase the country’s copper downstreaming capacity. Projected Increase in Copper Production Currently, Indonesia produces 1.3 million tons of copper cathodes...
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New Collaboration Aims to Utilize Waste for Copper Production Jubilee Metals has announced a joint venture with International Resources Holding (IRH) to recover copper from a waste rock dump in Zambia. This initiative aims to process over 60 years’ worth of discarded mining material and ore that was once considered too low-grade for extraction. Project...
READ MOREDeclining Copper Prices Amid Rising Dollar Copper prices experienced a downturn on Wednesday, influenced by the strengthening of the U.S. dollar ahead of the Federal Reserve’s interest rate decision. The three-month copper contract on the London Metal Exchange saw a 0.4% decrease, standing at $8,321 per metric tonne as of early morning trading. In the...
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Substantial Increase in Copper Import Value India’s copper import bill has risen by 20% year-on-year in FY23, reaching a value of Rs. 27,131 crore (approximately $3,237,397,000), up from Rs. 21,985 crore (approximately $2,647,838,000). This significant increase is attributed to the post-Covid economic recovery and a surge in demand, particularly from the electric vehicle and renewable...
READ MOREChanging Supply Dynamics Boost Copper Prices The copper market is witnessing a significant shift in its supply landscape, leading to reduced forecasts for market surpluses and positively impacting copper prices. Recent developments have prompted analysts to revise their surplus projections, creating a tailwind for the industrial metal’s prices. Anglo American’s Reduced Production Guidance A key...
READ MORERising Imports and Production Capacity In the fiscal year 2022-23, India’s expenditure on copper imports saw a notable increase, reaching approximately Rs 27,131 crore (about $3.25 billion), compared to Rs 21,985 crore (about $2.64 billion) in the previous fiscal year. This information was provided in response to a query in the Rajya Sabha, the upper...
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Copper Futures Rise on MCX Copper futures on the Multi Commodity Exchange of India (MCX) saw an uptick today, influenced by an increase in China’s copper imports and a weaker dollar. China, the world’s largest copper consumer, reported a 10.1% month-on-month increase in copper imports to 550,565.6 tonnes in November, the highest in nearly two...
READ MOREDecline in Copper and Zinc Concentrate Output According to the National Statistics Committee, Armenia has witnessed a significant drop in its copper concentrate production in the first ten months of 2023. The production decreased by 10.1% year-on-year, amounting to approximately 235,500 tons. Additionally, the country experienced a 20.4% decline in zinc concentrate production, which totaled...
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Acquisition Details and Future Expectations Evolution Mining has announced its acquisition of the Northparkes copper and gold mine in NSW from China Molybdenum Company (CMOC) for $US475 million (approximately $720 million). The deal involves an upfront payment of $US400 million and potential additional payments up to $US75 million over the next three years, contingent on...
READ MOREInitiation of Maiden Drilling Program C29 Metals Limited has announced the commencement of its maiden drilling program at the Mayfield Copper Project, which the company wholly owns. This drilling effort marks a significant step in exploring the potential of the Mayfield tenure. Drilling Program Details Experienced Exploration Team The drilling operation is being conducted by...
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Rio Tinto’s Push to Boost Copper Production In response to the increasing demand for clean energy, Rio Tinto, a leading global mining company, is focusing on maximizing its copper production in America. The Bingham Canyon mine, located near Salt Lake City, is a critical part of this effort. This mine, one of the largest copper...
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Copper Market Dynamics in 2023 According to Nornickel’s report on the metals market, covering copper, nickel, and Platinum Group Metals (PGMs), the copper market has undergone a notable contraction in 2023. This change is largely attributed to a mix of global economic factors and varying demand in different regions. The report highlights a weakened demand...
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Abu Dhabi’s International Resources Holding Selected as Strategic Equity Partner Sibanye-Stillwater’s bid to acquire Mopani Copper Mine (MCM) in Zambia has been unsuccessful, with the Zambian state-owned investment vehicle ZCCM Investments Holdings (ZCCM-IH) opting for Abu Dhabi’s International Resources Holding (IRH) as its strategic equity partner. IRH, a subsidiary of the United Arab Emirates’ International...
READ MORERed metal shortage subsides The deficit on the global copper market is beginning to gradually subside. The shortage, which stood at almost 100,000 tons in August this year, had fallen to 17,000 tons by September. The trend was identified using statistics provided by the International Copper Study Group. Judging by this recent move, the deficit...
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Urgent Plea for Economic Revival In a bid to revive their faltering local economy, villagers from Thoothukudi, near the Sterlite Copper plant, have congregated at Jantar Mantar in New Delhi. Their peaceful protest centers around a singular demand: the reopening of the Sterlite Copper plant, which they claim is vital for their livelihoods and the...
READ MOREImpact of Stronger Won on Copper Prices The prices for electrolytic copper in Korea have witnessed a slight decrease, attributed to the strengthening of the Korean Won against the US dollar. This decline comes despite a rise in the London Metal Exchange (LME) prices for the metal in December transactions. The LME refined copper trading...
READ MOREStrategic Investment for Mopani’s Future Zambia has chosen the United Arab Emirates’ International Resources Holdings (IRH), an affiliate of Abu Dhabi’s International Holdings Company (IHC), as a new strategic equity partner for Mopani Copper Mines. According to ZCCM-IH, the state-owned firm, this partnership aims to bolster Mopani’s financial and operational capabilities. Objectives of the Partnership...
READ MOREDemonstrations Against Mine Closure Workers at First Quantum Minerals Ltd.’s Cobre Panama mine took to the streets across Panama on Wednesday. This demonstration follows the Supreme Court’s ruling declaring the law governing a new contract for the mine unconstitutional. The protests are a response to President Laurentino Cortizo’s decision to respect the court’s ruling and...
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