Metals Acquisition, which was believed to have considered acquiring the $1 billion Neves Corvo copper and zinc mine in Portugal, has decided not to proceed. Instead, the company announced plans to raise $140 million to reduce debt and “pursue strategic inorganic growth opportunities.” Sources also indicated that South32 had looked at the Neves Corvo asset...
READ MOREGlobal technology company ABB has signed a contract to deliver two mine hoists to Eti Bakır, Türkiye’s largest copper producer, to support operations at a new underground copper mine in the Maden district of Elaziğ. This agreement marks ABB’s first complete mine hoist installation in Türkiye. The new mine, currently under development, is expected to...
READ MOREThe Ministry of Industry and Tourism has granted €30 million from the PERTE for industrial decarbonization to Cunext in Córdoba to support green copper production through recycling. The project also received an additional €5.3 million in incentives from the Regional Government of Andalusia. Banco Sabadell has established a €12 million confirming line linked to sustainability,...
READ MOREAtlantic Metals, a subsidiary of Moxico Resources, has signed a binding agreement with mineral exploration company Latin Metals to acquire a 75% interest in two copper exploration projects in Argentina. These projects include the Esperanza copper-gold porphyry exploration project and the Huachi copper exploration project. To earn this stake, Moxico must meet several financial and...
READ MOREJapan’s refined copper production is expected to increase by 5.5% in the second half of fiscal 2025 compared to the previous year, according to Reuters calculations based on plans outlined by smelters. The rise is attributed to reduced maintenance activities and solid demand, particularly from the electronics and construction sectors. The financial second half in...
READ MOREJapan’s refined copper production is expected to increase by 5.5% in the second half of fiscal 2025 compared to the same period a year earlier, according to Reuters calculations based on smelter plans. This increase is primarily attributed to reduced maintenance activities and solid demand. The financial second half covers the period from October to...
READ MOREA team of Russian researchers has synthesized unique ferromagnetic films made of palladium and iron using the molecular beam epitaxy (MBE) method, according to the Institute of Physics and Technology (ITF). “We have adapted molecular beam epitaxy technology to synthesize gradient magnetic thin films based on a ferromagnetic alloy of palladium and iron. The resulting...
READ MOREAurubis, one of the world’s leading multi-metal producers and a major copper recycler, has announced a EUR 16 million investment in its Stolberg copper rolling mill in the Rhineland, Germany. The investment includes two new core units—a hood annealing line and a stretch-bending line—to enhance the competitiveness, energy efficiency, and safety of the site. The...
READ MOREIvanhoe Mines reported record production at its Kamoa-Kakula Copper Complex and Kipushi zinc mine in the Democratic Republic of Congo (DRC) for Q3 2024. Kamoa-Kakula produced 116,313 tonnes of copper in concentrate, while Kipushi produced 17,817 tonnes of zinc in concentrate during its ramp-up phase. Kamoa-Kakula’s Phase 3 concentrator, which began producing in June, is...
READ MOREFrench energy company TotalEnergies is exploring the possibility of expanding into copper trading, according to a report by the Financial Times. This potential move would align with the growing demand for metals essential to the global energy transition, as copper plays a crucial role in renewable energy and electrification technologies. Rahim Azouni, senior vice president...
READ MOREDundee Precious Metals has released preliminary production figures for gold and copper for the third quarter and the nine months ending September 30, 2024. The company’s Chelopech and Ada Tepe mines are reported to be on track to meet their 2024 production guidance despite some operational challenges. David Rae, President and CEO of Dundee Precious...
READ MOREStarting October 8, the Moscow Exchange will begin trading new futures contracts for copper, aluminium, nickel, and zinc. These contracts will have a quarterly circulation term, aligning copper and nickel futures with the existing quarterly terms for aluminium and zinc, which previously had one-month terms. The new contracts will feature lots that are 10 times...
READ MOREBarrick Gold has initiated the expansion of its Lumwana copper mine in Zambia’s Kalumbila District, with an investment of USD 500 million earmarked for the project’s first phase. The expansion will focus on infrastructure upgrades, operational improvements, and the introduction of advanced mining technologies. The total cost of the project is expected to reach USD...
READ MOREAnglo American is undergoing significant restructuring to concentrate on copper, a key material for the energy transition, after rejecting a $49 billion takeover offer from BHP Group earlier this year. The company will unbundle its diamond, platinum, nickel, and coal assets, including De Beers, Brazilian nickel mines, and Australian coal operations, to streamline its portfolio....
READ MOREVale is considering opportunities to significantly increase its copper output, potentially tripling production, as it seeks to catch up with industry competitors, according to the company’s newly appointed president, Gustavo Pimenta. In a statement made on Wednesday, Pimenta highlighted that Vale currently produces 350,000 tonnes of copper annually, while the largest global producers generate around...
READ MORECunext Copper has extended its green and sustainable syndicated loan to nearly €35 million, funding the expansion of its facilities in Córdoba. The financing will support the installation of a new furnace for the production of anodes from secondary (scrap) copper, increasing output by an additional 40,000 tonnes per year. The loan, provided by the...
READ MORESolus Advanced Materials, a South Korean company specializing in copper foil, has announced that its subsidiary, Volta Energy Solutions Canada, has finalized an agreement with Investissement Québec. The agreement secures financial incentives for the construction of the first copper foil plant in Canada, located in Quebec, to support the electric vehicle (EV) battery industry. The...
READ MOREStephen Rowland has been appointed as the new President of the International Copper Association (ICA), succeeding Shehzad Bharmal, Executive Vice President and COO of Teck Resources, who led the ICA for the past two years. Glencore, a prominent member of the ICA since 2013, remains actively involved in the organization, which serves as a global...
READ MOREThe global production of refined copper rose 5.9% year-on-year to 16.1 million tonnes in the first seven months of 2024, while consumption increased by 2.9% to 15.57 million tonnes, according to a report released by the International Copper Study Group (ICSG). This led to a widening global surplus of 528,000 tonnes during the January-July period,...
READ MORECapstone Copper Corp. announced that the Mantoverde Development Project (MVDP) has reached a significant milestone by achieving commercial production as of September 21, 2024. This milestone was met after the mill operated for 30 consecutive days at an average of 75% of its nameplate throughput capacity of 32,000 ore tonnes per day. Additionally, key metrics...
READ MORECanadian metals producer Barrick Gold Corporation has awarded a $78 million contract to Finnish company Metso for the supply of copper concentrator equipment for its Lumwana Copper Mine in Zambia. The agreement, announced on September 30, includes key equipment for grinding, flotation, thickening, feeding, and filtration, all of which will be deployed at Lumwana, one...
READ MORECopper prices fell on the London Metal Exchange (LME) on Monday as some investors booked profits, following a sharp rise driven by stimulus measures in China, the world’s largest consumer of metals. The three-month copper contract on the LME dropped 0.8% to $9,905.5 per metric ton after reaching $10,158, its highest level since June 7....
READ MOREZijin Mining Group has announced its unaudited interim results for the first half of 2024, reporting substantial growth in production and profitability despite a turbulent global economic environment. The company’s revenue was buoyed by higher metal prices, particularly for gold and copper, as well as increased production volumes across its major mining projects. During the...
READ MORERio Tinto is aiming to start copper extraction at the massive Resolution deposit in Arizona by the late 2020s, according to CEO Jacob Stausholm in a recent interview with Bloomberg TV. The Resolution deposit, one of the world’s largest untapped copper resources, is estimated to hold more than 1.2 billion tons of ore at depths...
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