Vizsla Copper has signed an option agreement with Trailbreaker Resources to acquire a 100% interest in four claims within the Eagle Lake property, located near Vizsla’s Woodjam copper-gold porphyry project in British Columbia, Canada. In exchange, Vizsla will issue 400,000 common shares to Trailbreaker over a three-year period. The optioned claims cover an area of...
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Boliden, a Swedish mining group, has halted all production at its Ronnskar copper smelter in northern Sweden due to a significant fire. The fire has caused the cell house of the facility to burn down, and the extent of the damage is still being assessed. While the company expects production to resume within a few...
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Tesla CEO Elon Musk has held a virtual meeting with Mongolian Prime Minister L. Oyun-Erdene to discuss potential investment opportunities in Mongolia’s resource-rich industry. Mongolia possesses reserves of rare earth metals and copper, which are crucial for the electric vehicle (EV) industry. The country is home to one of the world’s largest copper mines being...
READ MOREAustralian mining company South32 has reportedly enlisted RBC Capital, a Canadian global investment bank, to oversee the acquisition of Botswana’s Khoemacau copper project, according to sources cited by the Financial Review. The project is owned and operated by Cupric Canyon Capital, a subsidiary of Global Natural Resource Investments (GNRI), and began production in 2021. Situated...
READ MOREThe situation in South Korea is interesting: South Korean battery manufacturers could be facing a shortage of copper. Specifically, there could be a shortage of foil made from the red metal as a result of its limited supply on the global market. Not surprisingly, copper foil is essential for the anodes of lithium-ion batteries used...
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The port of Rotterdam allowed Russian miner Nornickel to sell copper supplies through the appropriate transshipment hub, the company’s vice president, Dmitry Pristanskov, told the St. Petersburg International Legal Forum. “We have worked out a plan for an African hub for ourselves, this is the port of Tangier in Morocco in North Africa. Moreover, relatively...
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The International Copper Study Group made a curious forecast: according to it, production of copper on the planet in the current year will increase by 2.6% to 26.317 million tons, its consumption will grow by 1.4% to 26.431 million tons. Thus, by the end of 2023, the global market is expected to be short of...
READ MORERussian diversified metals producer Nornickel is rehauling its Taimyrsky mine, and the upcoming completion of the Bolshoi Gorst area project is set to increase its production capacity, the company announced. Nornickel launched the investment project targeting the Bolshoi Gorst area in 2009. The project was divided into five parts, and the final one is nearing...
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US-based Steel Dynamics has begun construction on a flat-rolled aluminium plant in Mississippi. The project cost is estimated at USD 2.2 billion, with operations expected to get underway in Q1 2025. The site will have an output of 650,000 tons of low-carbon aluminium sheets per year. The move has been received as an extraordinary event...
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Canadian diversified miner Teck Resources announced on Tuesday it would spin off its steelmaking coal business into a new company, called Elk Valley Resources (EVR), to focus on energy transition metals. The remaining business will take a new name, Teck Metals, and retain steelmaking coal cash flows for the transition period. The deal will be...
READ MOREMining company Freeport-McMoran announced suspension of operations at Grasberg, the world’s second-largest copper mine in Indonesia, after heavy rainfalls caused landslides in the area. “PT Freeport Indonesia’s (PT-FI) Grasberg operations have been temporarily disrupted because of significant rainfall and landslides in the area of its milling operations in Papua, Indonesia,” the company said. Infrastructure near...
READ MOREThakadu Resources and Mertech Marine have entered into a joint venture to establish a new high-purity copper sulphate plant in South Africa. The new plant, which will be funded equally by both parties, aims to provide a unique, reliable, and responsible source of copper sulphate for the mining, agricultural, and chemical industries in Sub-Saharan Africa....
READ MOREDiversified miner Anglo American boosted copper output by 52% year-on-year to 244,000 tonnes in the fourth quarter of 2022, while its copper total equivalent production was up 10% for the period, the company said in its production report. “Our production increased by 10% in the fourth quarter compared to the same period in 2021, driven...
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Chilean miner Antofagasta reported a 10.4% decrease in copper output for 2022, due to lower ore grades and a drought in Chile impacting production. The company produced 646,200 tonnes of copper last year, which was at the lower end of its outlook of 640,000 to 660,000 tonnes. The CEO of the company, Iván Arriagada, said...
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Trafigura, one of the world’s largest commodity traders, is planning to remove significant batches of copper from warehouses registered with the London Metal Exchange (LME), Reuters reported last week citing two sources. “In an environment of constrained supply, reflected by high copper benchmarks in Europe, we are ensuring we can continue to supply our customers...
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The ban on copper ore exports, which was announced by Indonesian President Joko Widodo on Friday and will take effect from mid-2023, could send global metal prices up 20%, as well as increase demand for Russian copper, metal markets expert Leonid Khazanov told RIA Novosti. “The suspension of exports of the ‘red metal’ from Indonesia...
READ MORELion Copper and Gold Corp. announced that it has completed the Stage 1 Programme of Work and has reached an agreement with Rio Tinto America Inc. (“Rio Tinto”) on the scope of the Stage 2 Program of Work with Nuton, a Rio Tinto venture. Rio Tinto will now provide Stage 2 funding of USD 5,000,000...
READ MOREThe demand for critical minerals including lithium, graphite, nickel, cobalt, copper, rare earth elements, potash, uranium and aluminum is increasing as the world moves towards a global net-zero economy and the adoption of clean technologies such as solar panels and electric vehicle batteries. These minerals are not only essential for clean technology, but also play...
READ MOREPeruvian protesters have threatened to disrupt operations at Glencore’s Antapaccay and MMG’s Las Bambas copper mines, demanding fresh general elections, the country’s La Republica newspaper has reported. The protests were triggered by the impeachment and detention of the South American country’s former president Pedro Castillo. The demonstrators are demanding early presidential elections and the closure...
READ MOREAround the midpoint of 2023, Brazil-based mining company Vale plans to split off its base metal operations into a separate company from its core iron ore business. Its nickel operations in Canada will be impacted by this decision, including those in Sudbury, Ontario; Thompson, Manitoba; and Voisey’s Bay, Newfoundland and Labrador. Who Vale executives announced...
READ MORECodelco, the world’s largest copper producer, warned on Thursday that global shortages of the metal may reach eight million tonnes by 2032, as new projects can’t catch up with soaring demand. What Maximo Pacheco, Chairman of the Board of Codelco, said at an industry conference that while a surplus is expected in the short term...
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After the signing of a financing package that will provide up to $123 million in liquidity, Nevada Copper is set to restart operations at its Underground Mine location within the larger Pumpkin Hollow reserve. The resumption of copper extraction at the site comes with an optimised plan to bring the mine’s life-cycle value forward by...
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A new recycling facility is set to turn the Finnish town of Heinola into an aluminium and copper processing hub. The plant, whose construction costs are estimated at 7 million euros, will begin operating next year. The facility consists of a pre-crushing line and a separation line. The operations will have a production capacity of...
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