Ecuador’s government announced on Thursday that it has successfully concluded negotiations with Australian miner SolGold (OTCPK: SLGGF) to move forward with the development of the Cascabel copper-gold mine. The ambitious project is anticipated to require a substantial investment of nearly $5 billion over its operational lifespan. According to government projections, the Cascabel mine has the...
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The recent experiments conducted at the U.S. government’s Sandia National Laboratories have demonstrated that pieces of pure platinum and copper can spontaneously heal cracks caused by metal fatigue. Metal fatigue occurs when metal is subjected to repeated stress or motion, leading to microscopic cracks that can worsen over time and potentially cause catastrophic failures in...
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Researchers from North Carolina State University have achieved a groundbreaking milestone by developing a highly conductive metallic gel that allows for the 3D printing of solid objects at room temperature in a single step. This breakthrough opens up new possibilities for manufacturing advanced electronic components and devices. The researchers created the metallic gel by suspending...
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Korea Zinc, the world’s largest zinc and lead smelter, is poised to become a supplier of copper foil, a crucial component for battery manufacturing, to LG Energy Solution Ltd., the world’s second-largest battery maker. The company is currently providing sample supplies to LG Energy after successfully passing tests on LG batteries. If a formal agreement...
READ MOREVedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, has announced that it is in “advanced stage” talks to regain control of the Konkola Copper Mines Plc in Zambia, four years after the Zambian government took over the mining complex. Vedanta issued a statement on Sunday expressing its commitment to the negotiation process, even though...
READ MOREPhoenix Copper, a company listed on AIM (Alternative Investment Market), has commenced its 2023 drilling program at the Navarre Creek exploration project situated in Custer County, Idaho. This new phase of work focuses on gold exploration and is located approximately 5 km west of the company’s copper oxide deposit, the Empire mine. The 2023 Navarre...
READ MOREGerman company Wieland, headquartered in Ulm, has successfully acquired Farmers Copper Ltd., a prominent supplier of copper, brass, and bronze alloys, founded in 1980. Farmers Copper operates from two sites in Texas City and San Antonio, Texas, and the transaction was finalized on July 10. Renowned for its strong and long-standing customer base, Farmers Copper...
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Faraday Copper has announced the latest assay results from its Copper Creek project in Arizona, revealing exciting possibilities for expanding the open-pit resource base. The phase two drilling program, comprising six drill holes, has highlighted the potential to connect two conceptual open pits, Copper Prince and Mammoth, in the upcoming resource estimate. Three of the...
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Lundin Mining, a Toronto-based mining company, has completed the acquisition of a majority stake in the company that operates the Caserones copper-molybdenum mine in Chile, the world’s largest producer of the metal. The acquisition gives Lundin Mining a 51% ownership stake in Caserones, with plans to acquire an additional 19% in the future. To finance...
READ MOREFollowing Chile’s decision to increase mining royalties beginning in 2024, copper miners are calling for incentives to maintain investments in copper production, crucial for the renewable energy revolution. The elevated royalties have led to tensions between the mining industry and the leftist government of Gabriel Boric, who seeks to use mining revenues to fund expanded...
READ MOREAccording to Goldman Sachs, the growing adoption of electric vehicles (EVs) serves as a significant driver for the bullish outlook on copper. The bank forecasts that copper demand from the EV sector will reach 1 million tonnes (mt) this year and rise to 1.5 mt by 2025. In a recent note, Goldman Sachs highlighted copper’s...
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Austral Resources (ASX:AR1) has unveiled a concept mining study that indicates the possibility of extracting an additional 10,000 tonnes of contained copper from its Anthill copper project in Queensland. This represents a significant increase of over 20% compared to the volumes estimated in the 2021 Feasibility Study. The increase is attributed to higher copper prices...
READ MOREZambia is on the verge of finalizing an agreement with Vedanta Resources regarding the disputed copper assets of Konkola Copper Mines. According to the country’s mines minister, a deal regarding the future of the partially state-owned unit is expected to be announced soon. Ever since the breakdown of relations between Zambia and Vedanta a few...
READ MOREDue to heavy rainfall, Chile’s state-owned Codelco, the world’s largest producer of copper, anticipates a decline of approximately 7,000 metric tons in copper production by 2023, as stated by Chairman Maximo Pachecho on Wednesday. Following a meeting with the country’s finance ministry, Pachecho informed reporters that the company projects total production for 2023 to be...
READ MOREGlencore aims to acquire full ownership of PolyMet Mining, the company developing a copper-nickel mine in northeastern Minnesota with Teck Resources. Currently holding 82% of PolyMet Mining, Glencore offered $71 million to increase its stake to 100%, making PolyMet a private entity. This proposal represents a 167% premium over PolyMet’s closing stock price on Friday,...
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Hindustan Copper Ltd is planning to issue a tender for the appointment of a Mine Developer cum Operator (MDO) to reopen and expand the Rakha Copper Mine in Jharkhand. The company recently held a stakeholders’ conference in June to address queries and concerns related to the reopening and expansion of the mine. Arun Kumar Shukla,...
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Boliden’s Rönnskär copper plant has partially resumed production following a devastating fire on June 13, which resulted in the complete destruction of the electrolytic refinery. While some production lines are now operational, the plant is operating under modified conditions, with copper production taking place in the form of anodes instead of cathodes. This adjustment to...
READ MOREThe London Metal Exchange (LME) is witnessing a renewed scramble for copper as its warehouse stocks continue to dwindle rapidly. Over the past three weeks, LME copper stocks have declined from 100,100 tonnes to 77,050 tonnes, despite receiving almost 30,000 tonnes of new arrivals. However, the incoming copper is being quickly turned around and shipped...
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Codelco, the state-owned mining giant, confirmed the occurrence of an electrical accident at its El Teniente mine in central Chile, resulting in one fatality. The incident took place during the installation of a generator at the mine’s Andes Norte expansion project at approximately 3 p.m. (1900 GMT) on Thursday. The victim, identified as Osvaldo Bustamante...
READ MOREIranian Alvand Mining and Mineral Industries CJSC is interested in the construction of a copper cathode plant in the Syunik region of Armenia. Trade attaché of Armenia to Iran Vardan Kostanyan and representatives of other interested departments attended the meeting. A preliminary plan to establish a cathode plant for copper processing in Syunik was discussed,...
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Zambian copper miner Mopani has released its annual financial statements, revealing a loss of $298 million (K5.26 billion). This represents a significant increase from the previous year’s loss of $74.2 million at the state-owned mine. The loss came as copper production dropped to 72,694 tonnes (t) over the year, down from 87,618t in the previous...
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The recent heavy rains in Chile’s central-south region have caused disruptions to operations at Codelco, the world’s largest copper producer. Codelco is still assessing the impact of the weather-related stoppages on its operations. At its El Teniente copper mine, some operations are still on hold, specifically in the Sewell and Rojo areas. However, underground operations...
READ MOREIndonesia is preparing to put an end to the export of copper concentrates as soon as the smelters being constructed by Freeport Indonesia and Amman Mineral Internasional are completed next year. President Joko Widodo announced on Tuesday that once these major companies finish building their smelters, raw copper will no longer be exported but instead...
READ MOREAnglo American, a UK-based mining company, has signed a memorandum of understanding (MoU) with Jiangxi Copper, a Chinese copper miner, to collaborate on responsible copper production. The MoU aims to guide Anglo American in creating sustainable value chains that extend beyond its own mining operations. This partnership aligns with Anglo American’s strategy to develop customer-centric...
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