Uzbekistan’s Enter Engineering has entered a $215 million cooperation agreement with FLSmidth Inc., a global supplier of mining equipment and services, to develop a new concentrating line at Almalyk Mining and Metallurgical Complex’s (Almalyk MMC) MOF-4 plant. The project aims to increase copper processing and production capacity at Almalyk MMC. The agreement includes the supply...
READ MOREIvanhoe Mines announced that its Kamoa-Kakula copper complex in the Democratic Republic of Congo achieved record monthly production of 41,800 tonnes of copper concentrate in October, along with a combined milling record of 1.2 million tonnes for the month. Copper concentrate production for the year reached 345,042 tonnes as of October 31, representing 79% of...
READ MOREHudbay Minerals is advancing its Copper World project in Arizona, positioning itself as a key U.S. supplier of critical minerals for renewable energy. The $1.3 billion project comprises seven deposits and is expected to produce 85,000 tonnes of copper annually over a 20-year mine life. A feasibility study is scheduled for completion next year, with...
READ MOREJinchuan Group announced that its mining business produced 47,183 tonnes of copper during the first nine months of 2024, marking a year-on-year decrease of approximately 2%. The decline was attributed to an unstable power supply from the Democratic Republic of Congo’s national power grid during this period. Copper sales also dropped to 41,368 tonnes, representing...
READ MOREChinese mining giant CMOC Group, also known as China Molybdenum, recently reached its annual cobalt production target three months ahead of schedule. While this achievement may appear promising, the cobalt market is currently facing record-low prices, the lowest in eight years, amid economic uncertainty. CMOC reported producing 84,722 tons of cobalt from its largely African...
READ MOREVancouver-based Kodiak Copper has decided to delay the release of its initial resource estimate for the MPD copper-gold project in British Columbia to achieve a more substantial outcome. According to Chairman Chris Taylor, the company is focusing on systematically drilling and building a resource base that fully reflects the project’s potential rather than rushing to...
READ MOREChilean state-owned company Codelco reported a production output of 918 thousand tonnes of copper from January to September this year, reflecting a 4.9% decrease compared to the same period last year. Despite the overall decline, the third-quarter production reached 338 thousand tonnes, representing a 2% increase compared to last year’s third-quarter output. Codelco, the world’s...
READ MOREIvanhoe Mines has announced its financial and operational results for the third quarter of 2024, reporting Adjusted EBITDA of $160 million, down from $203 million in the second quarter of 2024. The company, a leading Canadian miner with major projects in Southern Africa, continues to advance its key operations, including the Kamoa-Kakula Copper Complex and...
READ MORECanadian Copper announced on October 28 that it has signed a term sheet and exclusivity agreement to acquire the Caribou processing plant complex from the New Brunswick government for $6.2 million. The company has already made a deposit of $225,000, with the deal expected to close on July 11, 2025. According to Canadian Copper, this...
READ MORESaudi Arabia has intensified its push into the global mining sector by establishing Manara Minerals, a company dedicated to investing in mines worldwide. Following its acquisition of a 10% stake in a subsidiary of Brazil’s Vale Group in 2023, Manara Minerals is now targeting the copper mines controlled by Canada’s First Quantum in Zambia. On...
READ MORESouth Korean copper foil producer Solus Advanced Materials has commenced mass production at its second Hungarian plant, significantly expanding its presence in Europe. The new facility, as reported by KED Global, is currently the only European production site for electric vehicle (EV) battery copper foil, with an annual output capacity of 23,000 tons. Combined with...
READ MORECopper, the third most used metal globally, is crucial for the energy transition, particularly in electrification and renewable energy applications. Recent developments, including China’s stimulus measures, have led to significant volatility in copper prices, adding uncertainty to the metal’s future. China’s economic actions have been a major driver of this volatility. Copper futures are actively...
READ MORESouth African mining giant Anglo American continues to reorganize its copper mining activities across South America. One of the two copper mines at the Los Bronces complex in Chile has been temporarily closed for maintenance, as announced in late July 2024. The smaller Los Bronces mine, which contributes about 40% of the complex’s total capacity,...
READ MOREStillwater Critical Minerals has signed a Letter of Intent (LOI) with Granite Creek Copper, allowing Granite Creek to acquire a 90% interest in the Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) project. The all-share transaction aligns with Stillwater’s strategic focus on its flagship Stillwater West project in Montana. The Duke Island project, located in the Alexander Platinum Belt...
READ MOREFLSmidth and Enter Engineering have signed a cooperation agreement for the supply of core mineral processing equipment for the MOF-4 copper-gold-molybdenum concentrator, currently under construction in Almalyk, located in Uzbekistan’s Tashkent region. Once completed, the plant is expected to be among the largest copper concentrators in the world. The agreement, estimated to be worth around...
READ MOREThe speed at which Anglo American shifts towards becoming a copper-focused miner could ultimately decide its future—either continuing as an independent company or being absorbed by a larger rival, such as BHP Group. Earlier this year, BHP attempted but failed to acquire Anglo, walking away from a \$49 billion bid in May after being rebuffed...
READ MOREBrazilian mining giant Vale reported a third-quarter net profit of $2.41 billion, beating analysts’ expectations, despite a 15% drop from a year earlier. The decline was largely driven by lower iron ore prices and additional provisions related to the 2015 Mariana dam disaster. The $2.41 billion profit exceeded analysts’ estimates of $1.65 billion, according to...
READ MORETeck Resources has reported a $748 million loss from continuing operations attributable to shareholders in the third quarter, primarily due to a one-time asset impairment charge related to its Trail operations. The Vancouver-based mining company recorded a loss of $1.45 per diluted share, a significant increase compared to the loss of $48 million, or nine...
READ MOREGautam Adani-controlled Kutch Copper is reportedly in discussions with Australian mining giant BHP to secure a substantial copper concentrate supply. According to a report by The Economic Times, the potential agreement could involve up to 1.6 million tonnes per annum (mtpa) of copper concentrate. The deal is projected to be worth approximately Rs 30,000 crore...
READ MOREKoBold Metals has invested approximately $200 million in its Mingomba project in Chingola, Zambia, with production expected to begin in 2031. The project aims to utilize artificial intelligence (AI) technologies to produce over 300,000 tonnes of copper annually, contributing to Zambia’s national target of 3 million tonnes per year. CEO Mfikeyi Makayi highlighted that KoBold...
READ MOREFirst Quantum Minerals (FQM) reported strong operational and financial results for the third quarter of 2024, driven largely by the performance of its Zambian operations at the Kansanshi and Sentinel mines. Despite ongoing power issues, FQM’s proactive measures minimized disruptions, leading to a notable increase in copper output. Kansanshi, FQM’s flagship mine in Zambia, achieved...
READ MOREMining and transport conglomerate Grupo Mexico has reported a 17.55% increase in net profit for the third quarter, driven by rising copper prices and higher production levels. The company’s net profit reached \$820.1 million, which was below analysts’ expectations of \$935.65 million, according to a poll conducted by LSEG. Grupo Mexico, controlled by billionaire German...
READ MORECopper products manufacturer Wieland Group has commissioned a solar park in Erbach, southern Germany, which will generate 29 GWh of renewable electricity annually. The company announced on Monday that it has invested nearly EUR 20 million ($21.7 million USD) in the project, which includes the installation of approximately 48,000 solar modules, 82 inverters, 14 transformer...
READ MOREFreeport-McMoRan, a leading mining company, reported third-quarter profit results that surpassed analysts’ expectations, driven by higher copper prices that helped offset a decline in production. The average realized price for copper during the quarter rose to $4.30 per pound, compared to $3.80 per pound in the same period last year. This increase was attributed to...
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