Barrick Gold Corp. has revealed that, besides Saudi Arabia, several major mining companies have shown interest in its substantial copper project in Pakistan. The $7 billion Reko Diq project located in Balochistan, a region bordering Afghanistan and Iran, boasts one of the world’s largest copper deposits and has the potential to become a significant source...
READ MORE
Adriatic Metals announced plans to initiate production at its Vares silver project in central Bosnia this November. This development marks the first new mine in Europe in over ten years. The project involves revitalizing a former silver mine that had remained dormant during the civil strife of the early 1990s. CEO Paul Cronin highlighted the...
READ MOREFraudsters have stolen approximately €185 million ($198 million) worth of copper from Aurubis, Europe’s largest copper producer. The theft is suspected to involve possible insider assistance, as inflated invoices for shipments of scrap metal were paid based on manipulated samples showing higher copper content than was actually delivered. These losses have prompted Aurubis to revise...
READ MORERussian metals producer Nornickel said this week it was installing a video analytics system to monitor turbidity of water after ore processing at the Copper Smelter in Norilsk. Previously, water turbidity was monitored manually every four hours. From now on, real-time control will help employees respond faster to incidents, the company said. “There is nothing...
READ MORE
For three decades, international mining companies have grappled with officials and local communities over a desert region surrounding an extinct volcano in Pakistan’s western province of Balochistan, a region prone to insurgency and often neglected, as reported by the Financial Times. Now, after resolving years of legal disputes, Barrick Gold is planning a $7 billion...
READ MOREThree Chinese entities are among the remaining contenders vying to acquire a Botswana copper mine potentially valued at around $2 billion, as disclosed by individuals familiar with the matter. Zijin Mining Group Co., MMG Ltd., and Aluminium Corp. of China, also known as Chinalco, have advanced to the second round of the bidding process for...
READ MOREA total of 197 investment funds, including those managed by major firms like Abrdn, Fidelity, HSBC, Invesco, Legal & General, and Vanguard, are pursuing legal action against Swiss mining giant Glencore. They allege that Glencore made misleading or untrue statements in its prospectuses to conceal corrupt activities. The claimants contend that they suffered financial losses...
READ MOREPeru’s government has revised its economic growth forecasts downward for this year and the next, citing challenges in the country’s copper industry, the El Niño weather phenomenon, and social unrest. The Ministry of Economy and Finance (MEF) announced in Peru’s official gazette, El Peruano, that the economy is now expected to grow by 1.1% in...
READ MORESouth Africa’s Sibanye Stillwater (SSWJ.J) is considering the introduction of a Chinese investor as a strategic partner if it succeeds in its bid to acquire Zambia’s Mopani Copper Mines, according to Chief Executive Neal Froneman in a statement to Reuters. Sibanye Stillwater, a Johannesburg-based precious metals producer, is among the shortlisted potential buyers for the...
READ MORE
Copper Fox Metals (TSXV: CUU) has released an updated mineral resource estimate (MRE) for its 100%-owned Eaglehead copper-gold-molybdenum-silver porphyry copper project located in northwestern BC. The MRE was prepared by Moose Mountain Technical Services, utilizing a C$5.50 net smelter return (NSR) as the base case for the estimate. At the C$5.50 NSR cutoff, the indicated...
READ MOREApollo Minerals is in the process of acquiring the Belgrade copper project in Serbia, a project that holds the potential for world-class sedimentary-hosted copper deposits. Belgrade’s Studena, Donja Mutnica, and Kopajska Reka prospects were originally part of Reservoir Minerals’ Serbian assets before they were acquired by Nevsun Resources in 2016 for US$365 million and subsequently...
READ MOREQMines has reached an agreement to acquire the Develin Creek copper-zinc project located 80 km northwest of Rockhampton in central Queensland, Australia, from Zenith Minerals. The Develin Creek project’s proximity, as well as its high-grade copper and zinc resource, makes it a highly complementary addition to QMines’ Mt Chalmers copper and gold project, located 90...
READ MOREQC Copper and Gold (TSXV: QCCU) has released metallurgical findings from samples obtained at its Roger property, situated approximately 5 km north of the historical mining center of Chibougamau, Quebec. The purpose of the metallurgical sampling at the Roger deposit was to assess whether the material at Roger could be effectively processed using the same...
READ MOREChina’s Zijin Mining Group Co. is actively strategizing to expand its copper mining operations in eastern Serbia, driven by the surging demand for this critical metal in the context of the global energy transition. This expansion initiative could potentially entail investments reaching billions of dollars. Approximately two years ago, Zijin Mining initiated the Cukaru Peki...
READ MORECanadian firm First Quantum Minerals and mining major Rio Tinto have recently concluded the establishment of a joint venture (JV) to advance the La Granja copper project in Peru. Located in the high-altitude region of Cajamarca, Northern Peru, La Granja is a complex orebody with the potential for a substantial, long-lasting mining operation. The project...
READ MORECanadian mining firm Trigon Metals has successfully produced its inaugural batch of sale-ready dried copper concentrate from the milling operations at the Kombat mine in Namibia. The mill at this mine boasts a processing capacity of 1,000 tons per day (tpd). On August 21st, the company ran the mill at 44% of its capacity, processing...
READ MOREChile’s state mining corporation, Codelco, is preparing for a new era under the leadership of incoming CEO Ruben Alvarado. His tenure, set to commence on September 1, carries the substantial responsibilities of reviving copper production, curbing escalating costs, and spearheading Chile’s foray into lithium, a vital battery metal. Alvarado, a veteran chemical engineer, initially joined...
READ MORE
Ural Construction Union is about to launch a copper ore mining project in Kazakhstan. This is another boom in the creation of small companies in Kazakhstan to develop smaller deposits of the red metal. And this is not the first in the non-ferrous metallurgy of Russia’s neighbour. Western players The pioneer of Kazakhstan’s small-scale non-ferrous...
READ MOREChile’s prominent copper producer, Codelco, is confronting potential financial strain due to rising costs and mounting debt attributed to projects that have fallen short of output targets, as revealed in a report by Chile’s Centre for Copper and Mining Studies (CESCO), viewed by Reuters. In an uncommon move, the influential industry organization, financed through its...
READ MORE
South African coal mining company Exxaro Resources (EXXJ.J) is strategizing to amass a cash reserve of up to 15 billion rand ($788.34 million) in preparation for potential acquisitions, especially in the realm of clean energy minerals, according to statements from company executives on Thursday. Two years ago, Exxaro outlined its intention to broaden its portfolio...
READ MORENet long positions in copper on the London Metals Exchange (LME) have surged to a six-month peak, partially driven by dwindling Chinese copper inventory figures. However, industry insiders assert that this often-bullish signal does not necessarily align with the actual market conditions. China, the world’s largest consumer of copper, currently maintains a combined inventory of...
READ MOREUnicoin Inc., the entity behind the asset-backed cryptocurrency bearing the same name, has concluded an all-crypto acquisition of copper exploration rights and mineral privileges in Argentina. The deal, valued at $210 million, involves the purchase from Electroquímica Del Neuquen S.A. The acquisition, known as the Barda Gonzales Project, is located within Argentina’s Neuquen Province. In...
READ MOREIn London, base metal prices, including copper, experienced a downturn on Tuesday due to a deteriorating demand outlook in China, a major consumer of these commodities. This shift was triggered by China’s release of data indicating slower growth in industrial output and decreased investment in its property sector. On the London Metal Exchange (LME), benchmark...
READ MOREThe anticipated inclusion of copper foil as a designated core mineral within the framework of the Inflation Reduction Act (IRA) by the U.S. government is poised to have noteworthy ramifications for the battery sector. This development is expected to have a particular impact on Korean copper foil manufacturers, as it potentially curtails the entry of...
READ MORE
