Stephen 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...
READ MORESince the commissioning of the Phase I plant in May 2021, the Kamoa-Cakula copper project has quickly risen as a major player in the global copper industry due to its impressive production capacity and resource reserves. Owned by Zijin Mining and Ivanhoe Mines, the project is now poised to further expand its annual production capacity...
READ MOREGlobal copper demand is projected to rise by about 70% by 2050, exceeding 50 million tons annually, according to Rag Udd, chief commercial officer at mining giant BHP Billiton. Udd attributed this anticipated growth to copper’s essential role in both current and emerging technologies, as well as the global push towards clean energy to meet...
READ MORERio Tinto Group is aiming to begin production at its Resolution copper joint venture in Arizona, in partnership with BHP Group, by the end of the decade, according to an interview with CEO Jakob Stausholm, reported by Bloomberg News on September 26. The Resolution project, which has faced various delays, is reportedly nearing the end...
READ MOREIndia’s pursuit of carbon neutrality heavily relies on securing key metals like copper and nickel, essential for the renewable energy sector and the electric vehicle (EV) industry. These materials are crucial to reducing reliance on external sources, and recycling is expected to play a major role in establishing a sustainable and reliable supply chain. Copper,...
READ MOREHindustan Copper (HCL) is moving forward with major expansion projects aimed at increasing its copper mine production capacity to 12.2 million tons per annum (MTPA), a move that will significantly enhance India’s domestic copper output. One of the key components of this expansion is the development of an underground mine beneath the existing open cast...
READ MOREBHP Chief Financial Officer Vandita Pant emphasized the growing challenges in meeting the rising global demand for copper during a keynote interview at the Financial Times Mining Summit in London. Pant projected a 70% growth in copper demand from now until 2050, driven by traditional industrial sectors as well as new requirements from decarbonization, energy...
READ MOREPT Freeport Indonesia has officially commenced operations at its new copper smelter in Gresik, East Java. The $3.7 billion facility is set to process 1.7 million tonnes of copper concentrate annually, with an output capacity of 900,000 tonnes of copper cathode, 50 tonnes of gold, and 210 tonnes of silver each year. President Joko “Jokowi”...
READ MOREKAZ Minerals, a leading copper producer in Kazakhstan, announced a 4% year-on-year decrease in copper production for the first half of 2024, totaling 190,900 tonnes. The drop in output was primarily due to a lower ore grade, though record ore processing levels—47.5 million tonnes, up 7% from the same period in 2023—partially mitigated the impact....
READ MOREThe World Copper Factbook 2024, published by the International Copper Study Group (ICSG), highlights significant long-term trends in the global copper market. Since 1900, when global copper production stood at less than 500,000 tonnes, the annual growth rate has averaged 3.14%, reaching 22.4 million tonnes in 2023. Solvent extraction-electrowinning (SX-EW) production, which was virtually non-existent...
READ MOREChina’s leading copper smelters have called for reductions in output as raw material shortages persist, sources familiar with the matter revealed on Tuesday. At a meeting of the China Smelters Purchase Team (CSPT) in Shanghai, participants urged cuts in production and extensions of maintenance periods, although no formal decision was reached. China, which accounts for...
READ MOREKGHM, the Polish mining group, reported a 43% decline in payable silver production in August, with output reaching 75.1 tonnes due to a maintenance shutdown at its precious metals plant. Silver sales also fell, amounting to 85.1 tonnes, down 34% year-on-year. Despite the drop in silver production, KGHM’s copper operations performed strongly. Payable copper production...
READ MOREArtificial Intelligence to Exacerbate Copper Shortages Developments in the artificial intelligence sector are expected to aggravate the looming shortage of copper, a metal crucial for the global transition to cleaner energy sources, according to Vandita Pant, CFO of BHP Group. The growth of data centers and AI technologies, which demand higher energy consumption for computing,...
READ MOREOn Monday, September 23, President Joko Widodo inaugurated a new copper smelter in Indonesia, operated by Amman Mineral. The facility is part of Indonesia’s efforts to enhance its position in global copper production and reduce reliance on exporting raw materials. The new copper processing plant, located in West Nusa Tenggara, was built at a cost...
READ MOREZambia’s copper production currently stands at 800,000 metric tonnes per year, but the government is setting its sights on a significant increase, aiming to boost output to 3 million tonnes by 2031. This ambitious target was highlighted by Mines Ministry Permanent Secretary Hapenga Kabeta during the launch of PwC Zambia’s Mining Sector Review Report. Kabeta...
READ MOREChina’s copper cathode production in August 2024 saw a slight decrease of 1.4% year-on-year, according to the Shanghai Metals Market (SMM). However, output for the month still rose by 2.5% year-on-year to 1.013 million tons. Over the first eight months of the year, production increased by 6.5%, reaching 7.960 million tons, despite ongoing challenges in...
READ MOREThe rapid development of artificial intelligence (AI) technologies is expected to worsen the global copper shortage, according to BHP, the world’s largest mining company, as reported by the *Financial Times*. BHP forecasts that growing demand for data centers and AI-related infrastructure, which require energy-intensive computing, could increase the global need for copper by an additional...
READ MOREAccording to analysts at BofA Securities, copper prices are benefiting from strong demand, constrained supply, and increased investment in clean energy transition projects. Despite global macroeconomic concerns, copper has shown surprising resilience, with a 6% rise year-to-date in 2024. Key drivers of this growth include inadequate mine supply, declining ore output, and processing challenges, which...
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