Canadian Copper announced on October 28 that it has signed a term sheet and exclusivity agreement to acquire the Caribou processing plant complex from the New Brunswick government for $6.2 million. The company has already made a deposit of $225,000, with the deal expected to close on July 11, 2025. According to Canadian Copper, this...
READ MORESaudi Arabia has intensified its push into the global mining sector by establishing Manara Minerals, a company dedicated to investing in mines worldwide. Following its acquisition of a 10% stake in a subsidiary of Brazil’s Vale Group in 2023, Manara Minerals is now targeting the copper mines controlled by Canada’s First Quantum in Zambia. On...
READ MORESouth Korean copper foil producer Solus Advanced Materials has commenced mass production at its second Hungarian plant, significantly expanding its presence in Europe. The new facility, as reported by KED Global, is currently the only European production site for electric vehicle (EV) battery copper foil, with an annual output capacity of 23,000 tons. Combined with...
READ MORECopper, the third most used metal globally, is crucial for the energy transition, particularly in electrification and renewable energy applications. Recent developments, including China’s stimulus measures, have led to significant volatility in copper prices, adding uncertainty to the metal’s future. China’s economic actions have been a major driver of this volatility. Copper futures are actively...
READ MORESouth African mining giant Anglo American continues to reorganize its copper mining activities across South America. One of the two copper mines at the Los Bronces complex in Chile has been temporarily closed for maintenance, as announced in late July 2024. The smaller Los Bronces mine, which contributes about 40% of the complex’s total capacity,...
READ MOREStillwater Critical Minerals has signed a Letter of Intent (LOI) with Granite Creek Copper, allowing Granite Creek to acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) project. The all-share transaction aligns with Stillwater’s strategic focus on its flagship Stillwater West project in Montana. The Duke Island project, located in the Alexander Platinum Belt...
READ MOREFLSmidth and Enter Engineering have signed a cooperation agreement for the supply of core mineral processing equipment for the MOF-4 copper-gold-molybdenum concentrator, currently under construction in Almalyk, located in Uzbekistan’s Tashkent region. Once completed, the plant is expected to be among the largest copper concentrators in the world. The agreement, estimated to be worth around...
READ MOREThe speed at which Anglo American shifts towards becoming a copper-focused miner could ultimately decide its future—either continuing as an independent company or being absorbed by a larger rival, such as BHP Group. Earlier this year, BHP attempted but failed to acquire Anglo, walking away from a \$49 billion bid in May after being rebuffed...
READ MOREBrazilian mining giant Vale reported a third-quarter net profit of $2.41 billion, beating analysts’ expectations, despite a 15% drop from a year earlier. The decline was largely driven by lower iron ore prices and additional provisions related to the 2015 Mariana dam disaster. The $2.41 billion profit exceeded analysts’ estimates of $1.65 billion, according to...
READ MORETeck Resources has reported a $748 million loss from continuing operations attributable to shareholders in the third quarter, primarily due to a one-time asset impairment charge related to its Trail operations. The Vancouver-based mining company recorded a loss of $1.45 per diluted share, a significant increase compared to the loss of $48 million, or nine...
READ MOREGautam Adani-controlled Kutch Copper is reportedly in discussions with Australian mining giant BHP to secure a substantial copper concentrate supply. According to a report by The Economic Times, the potential agreement could involve up to 1.6 million tonnes per annum (mtpa) of copper concentrate. The deal is projected to be worth approximately Rs 30,000 crore...
READ MOREKoBold Metals has invested approximately $200 million in its Mingomba project in Chingola, Zambia, with production expected to begin in 2031. The project aims to utilize artificial intelligence (AI) technologies to produce over 300,000 tonnes of copper annually, contributing to Zambia’s national target of 3 million tonnes per year. CEO Mfikeyi Makayi highlighted that KoBold...
READ MOREFirst Quantum Minerals (FQM) reported strong operational and financial results for the third quarter of 2024, driven largely by the performance of its Zambian operations at the Kansanshi and Sentinel mines. Despite ongoing power issues, FQM’s proactive measures minimized disruptions, leading to a notable increase in copper output. Kansanshi, FQM’s flagship mine in Zambia, achieved...
READ MOREMining and transport conglomerate Grupo Mexico has reported a 17.55% increase in net profit for the third quarter, driven by rising copper prices and higher production levels. The company’s net profit reached \$820.1 million, which was below analysts’ expectations of \$935.65 million, according to a poll conducted by LSEG. Grupo Mexico, controlled by billionaire German...
READ MORECopper products manufacturer Wieland Group has commissioned a solar park in Erbach, southern Germany, which will generate 29 GWh of renewable electricity annually. The company announced on Monday that it has invested nearly EUR 20 million ($21.7 million USD) in the project, which includes the installation of approximately 48,000 solar modules, 82 inverters, 14 transformer...
READ MOREFreeport-McMoRan, a leading mining company, reported third-quarter profit results that surpassed analysts’ expectations, driven by higher copper prices that helped offset a decline in production. The average realized price for copper during the quarter rose to $4.30 per pound, compared to $3.80 per pound in the same period last year. This increase was attributed to...
READ MORENuVau Minerals, a mining company focused on Quebec, is set to go public this month in an effort to secure provincial government support for its Bracemac McLeod copper-zinc project in the Matagami camp. The Matagami camp, known for its rich mining history, has been operational for over 60 years. NuVau’s project is backed by a...
READ MOREGlobal refined copper production increased by 5.1% year-on-year to 18.33 million tonnes from January to August 2024, while consumption rose by 2.5% to 17.8 million tonnes, the International Copper Study Group (ICSG) reported on Tuesday. This growing gap between production and consumption led to a surplus of 535,000 tonnes, up significantly from the 75,000-tonne surplus...
READ MOREPolish mining giant KGHM reported mixed results for its production and sales in September 2024, according to a market filing on its preliminary figures. The company’s copper sales reached 65,600 tonnes, representing an 8% year-on-year increase, while payable copper production rose by 3% to 61,400 tonnes. Silver production experienced a decline, with payable silver output...
READ MOREGlencore’s Antapaccay copper mine in Peru has reported significant improvements in copper recovery after upgrading its flotation cells. The mine, which produces approximately 160,000 tonnes of copper concentrate annually, partnered with Metso to enhance its flotation circuit and address existing inefficiencies. The Antapaccay flotation circuit, commissioned in 2012 and expanded in 2019, faced challenges such...
READ MOREBase metal prices gained momentum on Monday, with the London Metal Exchange (LME) three-month copper price rising by 0.7% to $9,627.50 per metric ton. Aluminum also experienced an increase, with the LME three-month aluminum price climbing 1.7% to $2,638.50 per ton. According to analysts at Commerzbank, Chinese copper demand during the first eight months of...
READ MORETaseko Mines announced that construction at its Florence copper project in Arizona is now nearly 40% complete, keeping the first production target on track for the fourth quarter of 2025. Since construction began earlier this year, the Canadian miner has logged nearly 300,000 work hours without any reported injuries or environmental incidents. There are currently...
READ MORENexans has announced plans to invest more than €90 million ($95 million) in the development of an advanced copper recycling plant at its Lens site in northern France, with completion expected by 2026. This investment, in partnership with Continuus Properzi, aims to significantly boost production capacity and foster a more sustainable copper supply chain, which...
READ MOREKonkola Copper Mines (KCM) has announced a temporary shutdown of several operations following the second fatality in less than a week. In response to these incidents, KCM will conduct stand-downs across its mining and processing plants in Chingola, Chililabombwe, Nampundwe, and Kitwe for specified periods. These shutdowns are intended to facilitate thorough reviews of safety...
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