Copper’s Growing Importance in the Green Revolution Copper, integral to nearly every industry, is increasingly vital in the green revolution due to its conductive properties. The metal is essential in modernizing power generation and transmission infrastructures to support renewable energy sources like solar PV, wind, nuclear, and hydropower. As the transportation sector shifts towards electric...
READ MOREDrilling Update at Kanmantoo Mine Lease Hillgrove Resources has shared an update on its underground diamond drilling activities at the Kanmantoo Mine Lease, located near Adelaide, South Australia. Drilling began in May 2022 from the Exploration Decline and resumed alongside production activities in July 2023. To date, a total of 96 underground (UG) drill holes...
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Elevating Copper Value The Universidad de Concepción, led by Dr. Eugenia Araneda, and Atacama Copper Foils have collaborated on a groundbreaking process for producing copper foils, aiming to enhance the value of Chile’s primary export. This initiative seeks to move beyond traditional exports of copper cathodes and concentrates, leveraging Chile’s status as the world’s leading...
READ MORENew Prospects in Metal Exploration The discovery of a 470-million-year-old rock under an Aberdeenshire barley field may hold the key to the UK’s net zero future. Aberdeen Minerals, a small firm based in Ellon, is exploring the potential for nickel, copper, and cobalt production in the area, which could significantly contribute to the country’s carbon...
READ MORENew Realistic Projections on the Horizon Hudbay Minerals is set to release a new technical report on the Copper Mountain mine in British Columbia, aiming to replace the previous owner’s optimistic forecasts with more grounded expectations. Revising Previous Estimates After acquiring the mine in June for US$439 million, Hudbay’s leaders have indicated that the former...
READ MOREMorgan Stanley Projects Strength in Aluminium Sector The energy-intensive production of aluminium, vital for decarbonisation initiatives, has been marked with a positive outlook by Morgan Stanley. Despite the environmental impact of its production, Morgan Stanley identifies the metal as a top choice in the transition to a greener economy. This stance is backed by significant...
READ MOREWhat Happened: KoBold Metals, a mining startup backed by Bill Gates, is considering expanding its operations into the Democratic Republic of Congo. Despite a previous unsuccessful attempt to acquire a Congo asset, the San Francisco-based company remains optimistic about the region’s potential, particularly its abundant cobalt and copper resources. The company believes that these resources...
READ MORERecent Drilling Campaign Highlights Galileo Resources has recently completed a seven-hole drilling project at the Shinganda copper-gold prospect in Zambia. A significant section within one drill hole showcased a sequence of hydrothermally altered and fragmented rock, indicating the presence of copper minerals. Detailed Findings from the Drilling Effort During the drilling activity, one specific hole—identified...
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Copper prices remained stagnant on Wednesday as a stronger U.S. dollar offset supply disruptions and investors awaited more clues on the U.S. Federal Reserve’s future policy path. Three-month copper on the London Metal Exchange was little changed at $8,189 per metric ton by 0408 GMT, while the most-traded December copper contract on the Shanghai Futures...
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A Hefty Acquisition Amid Copper’s Allure In a significant yet understated transaction, Metals Acquisition Ltd has secured the CSA copper mine from Glencore in a deal valued between $950 million to $1.1 billion. The final price is subject to copper market prices, considering an additional contingent payment of $150 million, and includes a 1.5% net...
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Strengthening Ties with Chinese Industry Leaders Rio Tinto has announced new commercial agreements with leading Chinese metal companies to supply copper concentrate and bauxite, signifying a deepening of ties with key players in the Chinese market. The Partnerships The signed agreements entail Rio Tinto providing copper concentrate to Jinchuan Group and Baiyin Nonferrous Group, both...
READ MOREImports Peak Chinese copper imports soared to a ten-month high in October, according to recent customs data. The total intake of unwrought copper and related products reached 500,168 metric tons. This figure represents the highest level of imports since the previous December and a substantial 23.7% increase from October of the previous year. Inventory and...
READ MOREQuarterly Financial Overview Capstone Copper reported a net loss of $42.3 million for the third quarter of 2023, equating to a $0.05 loss per share, contrasting the net income reported in the same period last year. Despite a rise in copper prices to $3.75 per pound, the company experienced a decrease in copper sold, leading...
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Evaluating Synergies: Glencore is eyeing a prospective collaboration with fellow mining giant Vale, as it approaches the end of operations at its Nickel Rim South mine in the Sudbury region. The partnership would potentially involve mining a copper and nickel deposit straddling the boundary between their respective properties. Feasibility Study Underway: The feasibility study set...
READ MOREA Strategic Acquisition Sibanye-Stillwater has confirmed its acquisition of the Mt Lyell copper mine located in Tasmania, Australia. The decision came ahead of the 5 November 2023 option expiry. Notably, the Mt Lyell mine, established in 1894, ceased operations in 2014 and is currently under assessment for potential reopening. Background of the Deal The acquisition...
READ MOREVero Resource, Mt Oxide Developments True North Copper Limited (TNC) reports significant progress in its diamond drilling program at Vero Resource, Mt Oxide, which concluded in October 2023 with a total of 3,955m drilled. Initial drilling data looks promising: – MOXD217, the first drillhole, intersected 66.5m at 4.95% Cu, which was made public in August...
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Major Developments on the Horizon Adani Group has committed to an investment of approximately $48 billion (Rs. 4-lakh crore) for both ongoing and upcoming projects over the next six years at Mundra in Gujarat’s Kutch region. The initiative includes the establishment of a berth for copper ore, a copper smelter plant, a green hydrogen project,...
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Financial Overview Codelco, in its third-quarter report, recorded an EBITDA of US$ 3,237 million. The main influences on this performance included reduced copper sales due to decreased production, rising operational expenses, and additional non-operating costs. Production Details Copper production for the nine months amounted to 966 thousand tons, marking a 9% decrease from the previous...
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Details of the Joint Venture Arc Minerals and Anglo American have addressed most regulatory prerequisites concerning their copper interests in Zambia, paving the way for their joint venture. Anglo American now holds a 70% interest in the venture, while Unico Minerals, an offshoot of Arc, possesses the remaining 30%. Drilling activities have already initiated under...
READ MORERebounding from the Pandemic India’s copper demand has witnessed a significant rise, reaching 1,522 KT in 2023, up from 1,311 KT the previous year. This surge marks a recovery following the demand contraction in FY21, a period heavily impacted by the COVID-19 crisis. The consistent double-digit growth underscores a positive economic turnaround and presents a...
READ MOREBoost in Production at Two Mines Toronto-listed First Quantum Minerals (FQM) reported a production of 103,805 tonnes of copper from its Zambian mines, Kansanshi and Sentinel, in the third quarter of 2023. Breakdown of Production Levels The Kansanshi mine’s output stood at 39,600 tonnes, marking an increase of 4,943 tonnes from the previous quarter. Meanwhile,...
READ MOREIn a significant announcement at its annual general meeting, South32 Ltd expressed confidence about its future, following what Chair Karen Wood described as a “major transformation” in the company’s structure. The Perth-based mining giant has implemented strategic changes and investment initiatives, positioning itself for considerable production growth. Strategic Revamps and Project Highlights Addressing the shareholders,...
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Q3 Production Figures: A Mixed Bag Anglo American, the industry giant, has reported a noteworthy 42% surge in its copper production for the third quarter, hitting 209,000 tons. This increase comes despite a production dip at the Los Bronces mine in Chile, attributed to a decrease in ore grades. In contrast, the Quellaveco mine in...
READ MOREMarket Response to Policy Changes Copper prices experienced a downturn in the Asian trading sphere, a response to perceived inadequacies in China’s latest economic stimulus efforts. The government’s strategy, involving an uptick in treasury bonds and a higher budget deficit ratio, did not meet market expectations, triggering a lukewarm reception among traders. Adding to the...
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