The International Energy Forum (IEF) has highlighted a critical challenge for the future of electric vehicle (EV) manufacturing: the world’s copper production is far from sufficient to meet the projected demand for a full EV rollout by 2050. According to research led by Dr. Lawrence Cathles from Cornell University and Dr. Adam Simon from the...
READ MOREGlobal Zinc Production Continues to Decline Global zinc ore production fell by 3.4% in the first half of 2024 due to reduced demand from metallurgical plants, particularly in China. Zinc orders from galvanized steel plants and hot-dip galvanizing operations have also decreased, according to data from the Lead and Zinc Study Group. China’s zinc concentrate...
READ MOREState-owned Chilean miner Codelco has purchased a 10% stake in the Quebrada Blanca copper mine for $520 million from fellow state miner Enami. This acquisition adds to Codelco’s portfolio at a time when the company is striving to increase its copper output after a significant production decline last year. The Quebrada Blanca mine, owned primarily...
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China’s Boi Yi Da company is planning to construct a copper processing plant in Uzbekistan’s Namangan region, with the project expected to unfold in two stages. The first stage alone is estimated to require an investment of around $40 million. Once operational, the plant’s output will be entirely sold for export. Simultaneously, China Mining Energy...
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BHP Group’s decision to expand its smelter and refinery at the Olympic Dam operation in South Australia aims to position the country as a key player in the global copper supply chain, particularly outside of China. The expansion, announced on August 30, could raise Olympic Dam’s refined copper cathode output to 500,000 metric tons annually...
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Ivanhoe Mines has announced that its Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a new daily copper production record of 2,096 tonnes on August 31, 2024. This milestone comes as the complex nears the completion of its Phase 3 ramp-up, which is set to reach full steady-state production soon. In...
READ MOREAurubis, a major copper processor, has announced the sale of its Buffalo, New York, site to the Germany-based Wieland Group. The Buffalo facility employs around 500 workers and specializes in producing copper and copper alloy strips and sheets used across various product lines. While the sales price remains undisclosed, this move aligns with Aurubis’ strategy...
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Eurasian Resources Group (ERG) has finalized a pre-export financing agreement with the London branch of Bank of China Limited and Glencore International AG for the supply of copper from its Metalkol enterprise in the Democratic Republic of Congo. The agreement will allow ERG to raise up to $150 million to bolster its working capital and...
READ MOREGoldman Sachs analysts have revised their copper price forecasts, citing changes in supply and demand dynamics this summer. Despite ongoing supply challenges, refined copper production has increased, while copper consumption has seen a notable decline. As a result, the significant reduction in copper inventories anticipated by Goldman Sachs is now expected to occur much later...
READ MORECyprium Metals has secured a A$40 million (USD 27 million) senior loan facility from Glencore to support its corporate initiatives and the advancement of the Nifty copper complex near Port Hedland in Western Australia. The loan, which has a four-year term, will be used to fund early works, feasibility studies, and to repay an existing...
READ MOREIn a recent discussion, executives from China Molybdenum outlined the company’s future plans, focusing on copper production, dividend payouts, and ongoing development strategies. China Molybdenum is on a clear path to significantly increase its copper production over the next five years, aiming to achieve an annual output of 800,000 to 1,000,000 tons by 2028. This...
READ MOREEmirates Global Aluminium Expands into U.S. Secondary Aluminum Market Emirates Global Aluminium has announced plans to acquire an 80% stake in Spectro Alloys, a leading U.S. secondary aluminum producer with a capacity of approximately 110,000 tons of ingots. This acquisition will bolster Emirates Global Aluminium’s presence in the growing U.S. secondary aluminum market, which saw...
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Copper prices in London edged higher on Thursday, buoyed by market optimism over a potential U.S. interest rate cut in September, despite a strong U.S. dollar and ongoing concerns about weak Chinese demand. The London Metal Exchange (LME) expressed satisfaction with the rise in copper prices, although the gains were somewhat limited by these broader...
READ MOREArgentina’s mining exports are expected to double to approximately $10 billion within the next three years, driven primarily by a surge in lithium production, according to Minister Luis Lucero. The expansion is also set to benefit from increased copper production, which is critical for powering electric vehicles and artificial intelligence technologies. Lucero emphasized that Argentina...
READ MOREBHP has announced plans to more than double its copper production in South Australia over the next decade, with a final investment decision on a significant smelter upgrade at Olympic Dam expected within the next two and a half years. The global mining giant also revealed a substantial increase in copper and gold resources at...
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The global electrolytic copper foil market is projected to grow significantly, reaching a value of $65.4 billion by 2030, according to the latest report from IndustryARC. The market is expected to expand at a compound annual growth rate (CAGR) of 14.6% between 2024 and 2030, driven by advancements in the electrical and automotive sectors, as...
READ MOREJubilee Metals has entered into a three-year renewable power purchase agreement with Lunsemfwa Hydro Power, a key independent hydro and solar power producer in Zambia, to ensure a consistent and reliable power supply for its copper production operations at Roan and Sable, starting September 1. This agreement is crucial for Jubilee as it navigates the...
READ MOREAustralian mining giant BHP has reaffirmed its commitment to expanding its copper production independently, following the collapse of its bid to acquire Anglo American earlier this year. Despite expressing disappointment over the failed takeover attempt, BHP has made it clear that it will not overpay for acquisitions. In May, BHP withdrew from its pursuit of...
READ MOREChinese mining giant Zijin Mining Group Co. has expressed concerns about revising its strategy for acquiring assets abroad through mergers and acquisitions, citing a slowing global economy, rising geopolitical tensions, and increasing project costs. This cautionary stance was highlighted in a recent press release from the company. China’s pivotal role in global mining supply chains,...
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CMOC, a global leader in rare metals mining and marketing, announced remarkable financial results for the first half of 2024, achieving a net profit attributable to the parent company of $762 million USD. This represents an extraordinary increase of 670.43% compared to the same period last year, driven by robust production growth, stringent cost management,...
READ MOREChile’s copper-mining sector is seeing a decrease in the risk of labor disruptions following the resolution of several significant wage negotiations. This development is crucial for a country that supplies approximately 25% of the world’s copper. Recently, around 300 workers who had been on strike at a mine operated by Lundin Mining Corp. returned to...
READ MORELotte Energy Materials, a leading South Korean manufacturer of battery materials, has announced the development of a nickel-plated copper foil specifically designed for solid-state batteries, a significant innovation in the electric vehicle (EV) industry. The newly developed nickel-plated copper foil is a next-generation electrolytic copper foil, coated with nickel on both sides, which enhances surface...
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BHP, the largest mining group in Australia, has released its financial results for the fiscal year 2024, covering the period from July 2023 to June 2024. The company reported a global sales figure of $55.7 billion, representing a 3% increase from the previous year’s $53.8 billion. However, attributable profits saw a significant decline, falling 39%...
READ MOREGanfeng Lithium Expands into Turkey Strategic Partnership with Yigit Aku Chinese lithium producer Ganfeng Lithium has embarked on a significant expansion into Turkey by forming a long-term strategic partnership with Turkish battery manufacturer Yigit Aku. This collaboration marks a crucial step in Ganfeng Lithium’s global growth strategy, particularly in the rapidly expanding battery market. Joint...
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