Increased Copper Output and Sales KAZ Minerals has experienced a 7% increase in copper production, reaching 301,000 tonnes in the first nine months of 2023. This growth is attributed to the efficient ramp-up of the second concentrator at the Aktogay mine. The company has successfully cleared its backlog of finished goods inventories from the previous...
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Ministry Inspects Al Wash-hi Majaza Copper-Gold Project Alara Resources Limited, engaged in base and precious metals exploration and development, recently hosted His Excellency Mohsen bin Hamad Al Hadhrami, the Honourable Undersecretary of the Ministry of Energy and Minerals (MEM) of the Sultanate of Oman, at its Al Wash-hi Majaza Copper-Gold Project. The joint venture, Al...
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Updated Reserves and Resources Dundee Precious Metals Inc., based in Toronto, has recently updated the Mineral Reserve and Resource estimates for its Chelopech mine in Bulgaria. The new estimates project an extension of the mine’s operational life until 2032. The updated figures show Proven and Probable Mineral Reserves of 1.6 million ounces of gold and...
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China’s refined copper imports have surged, reaching a year-high in October, despite a manufacturing sector that is struggling to gain momentum. The increase in imports, including a backlog clearance from the Democratic Republic of Congo, raises questions about the destination of this influx in copper. Copper Import Trends October saw China import 353,000 metric tons...
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First Quantum Minerals has issued a notice indicating its intention to commence arbitration proceedings over its copper contract in Panama, amidst ongoing legal and environmental controversies surrounding the Cobre Panama mine. Growing Legal and Environmental Concerns The mine, contributing about 5% to Panama’s GDP and accounting for approximately 1% of global copper output, has been...
READ MORERio Tinto expands its foray into lithium through a partnership with Charger Metals on the Johnston Lake project, while Emirates Global Aluminium ventures into aluminum recycling, constructing a facility to produce secondary aluminum. Indian conglomerate Vedanta Resources announces its plans to build a copper rod production facility in Saudi Arabia, marking its first venture outside...
READ MOREThe Salvadoran government, led by Foreign Affairs Minister Alexandra Hill Tinoco, has called for a humanitarian corridor for truckers stranded amidst ongoing protests in Panama against First Quantum Minerals’ Cobre Panama mine. Protests Escalate in Panama Protests, which began in mid-October, have escalated recently, with reports of activists attacking mine workers. The unrest has disrupted...
READ MOREReduced Operation Rates and Market Challenges South Korea’s leading copper foil producers, SK Nexilis Co. and Lotte Energy Materials Corp., have reported reduced operation rates in their factories due to intense price competition and a slowdown in electric vehicle (EV) demand. SK Nexilis, a subsidiary of SKC Ltd., saw its factory operation rate drop to...
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Easing of Refined Copper Shortage The global refined copper market saw a slight easing in shortages as of September, with the oversupply diminishing significantly from August’s 99,000 tons to approximately 17,000 tons. This data, provided by the International Copper Study Group, indicates a near balance in the supply and demand for refined copper. However, the...
READ MOREProject Milestone and Operations Readiness Al Hadeetha Resources, an Omani-Australian joint venture, is set to initiate copper concentrate production from its project in Al Sharqiyah North Governorate, Oman. Al Hadeetha, 51% owned by Australian mining exploration company Alara Resources, is poised to start operations following over five years of development since receiving a mining license...
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Mixed Movements in Copper Prices Copper prices in London experienced a slight dip on Friday but are on track for a second consecutive weekly gain. The London Metal Exchange (LME) recorded a 0.2% decrease, placing copper at $8,390.50 per metric ton as of 0724 GMT. Despite this, the metal has seen an overall 1.5% increase...
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Expansion Project Progress Vale, Brazil’s mining giant, has successfully increased the production capacity of its Salobo mine to 32 million tonnes per annum. This development is part of the first phase of the Salobo III expansion project, which began in 2019 with a budget of $1.1 billion. The project aims to further boost the mine’s...
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Copper Sales and Production Overview KGHM Polska Miedz (KGHM Polish Copper) maintained stable copper sales in October, reaching 59,600 tonnes, matching the level from the previous year. However, there was a slight 3 percent decrease in payable copper production compared to the same period last year, totaling 58,700 tonnes. Performance Across Divisions The stable copper...
READ MOREStrategic Expansion in Dammam Vedanta, under the leadership of Anil Agarwal, is set to establish a 100,000-tonne continuous copper rod plant in Saudi Arabia. This venture, driven by Malco Energy’s new entity Vedanta Copper International VCI Company Limited, will be situated in Dammam. The initiative aims to cater to the increasing demand for high-quality wire...
READ MOREMajor Acquisition in Copper Mining MMG Ltd has announced the acquisition of Cuprous Capital, the company overseeing the Khoemacau copper mine in Botswana, for $1.88 billion. Located in the Kalahari Copperbelt, an extensive copper-rich region spanning from Botswana to Namibia, Khoemacau is currently the only active copper mine in this area. Strategic Move Amid Rising...
READ MOREGlobal Metal Industry Evolves with New Technologies and Market Shifts The global metal industry is witnessing notable changes, driven by emerging technologies and strategic business decisions. Developments range from innovative copper foil production in Chile to Exxon Mobil’s entry into lithium production, alongside efforts to produce low carbon aluminum in India. These advancements are reshaping...
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Market Position and Strategy IXM, linked to China’s CMOC group, has emerged as the third-largest global metals trader, joining the ranks of Trafigura and Glencore. Based in Geneva, the company specializes in the trading of energy metals, playing a significant role in the energy transition. IXM is known for its substantial annual production and supply...
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Order Details and Technology Specifications Metso Outotec Oyj has secured an order from Freeport-McMoRan for a comprehensive tankhouse material handling solution, valued at over EUR 10 million. The order, part of the Minerals segment’s Q4 2023 bookings, is for the El Paso electrorefinery in Texas, USA. The technology package includes advanced Outotec Anode Preparation and...
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Placement Details and Funding Allocation True North Copper Limited (ASX: TNC) announced the successful acquisition of approximately $15 million through a two-tranche placement. This includes about $10.7 million in cash and roughly $4.3 million in converted debt. The placement, attracting substantial interest from global institutional investors, signals confidence in the company’s strategic direction. The funds...
READ MOREEnd of Strike and Resumption of Shipments The truck drivers’ strike in the Democratic Republic of Congo (DRC), which had hindered copper and cobalt exports, has been resolved. The strike, primarily involving drivers from Zambia and Tanzania, began around the end of October, impacting the transportation of these critical green energy metals from the Kolwezi...
READ MOREIncreasing Production and Consumption The 2023 Global Copper Industry Report presents a detailed analysis of the market, highlighting significant growth in both mined and refined copper production. Mined copper production is expected to reach 24.48 megatons, growing at a 4.5% CAGR, while refined production is projected to hit 28.04 megatons with a 4.0% CAGR. Concurrently,...
READ MORERising Demand for Copper in Renewable Energy and EV Sectors At the CRU World Copper Conference Asia in Shanghai, Liu Wei, the Vice President of the China Nonferrous Industry Association Recycling Metal Branch, announced plans to expand China’s scrap copper imports. This move is in response to the increasing demand for copper, a crucial component...
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Declining Cathode Sales in China Codelco, the Chilean state-owned copper producer, is witnessing a decline in its cathode copper sales to China. This trend comes amidst a significant expansion of smelting capacity within China, as noted by Codelco’s chairman Maximo Pacheco at Asia Copper Week. The company has observed a reduction in sales volumes due...
READ MOREProduction and Financial Highlights Metals Acquisition has released its operational update for the third quarter of 2023, focusing on the CSA Copper Mine. This period saw the production of 9,845 tonnes of copper and 115,000 ounces of silver. A significant reduction in C1 costs was noted, dropping to US$1.86/lb from higher costs in previous quarters....
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