Canada One Mining Corp. has kick-started the second phase of exploration at its fully-owned Copper Dome Project in Princeton, British Columbia. The Phase II program encompasses an array of activities including geochemical surveying, sampling, mapping, and hand drilling. Key features of the project include: Simultaneously, Canada One is meticulously examining data from the Phase I program, especially from the Fryday...
Copper news
Aurubis Sets 2024 Copper Premium at $228/t for European Customers
Aurubis, Europe’s leading copper smelter, has set its 2024 copper premium at $228 per metric ton above the London Metal Exchange (LME) price for sales to its European clientele. This rate remains consistent with the 2023 premium. The unchanged premium is believed to indicate a subdued demand forecast for copper, which is widely utilized in the power and construction sectors....
Copper Lake’s Norton Lake Deposit in Northwestern Ontario Shows Promise in Updated Mineral Resource Estimate
Copper Lake recently unveiled an updated mineral resource estimate for its Norton Lake Nickel-Copper-Cobalt-PGE Deposit based on their latest NI 43-101 Technical Report. The Northwestern Ontario deposit indicates open pit and underground measured and indicated resources of 1,795,000 metric tons, with an impressive average grade of 0.72% Ni and 0.69% Cu, amounting to 28.3 lbs of nickel and 27.3 lbs...
Ivanhoe Mines Announces Record Production at Kamoa-Kakula Copper Complex
In Q3 2023, Ivanhoe Mines disclosed a record quarterly production of 103,947 tonnes from its Kamoa-Kakula Copper Complex. During this period, the mine processed 2.24 million tonnes of ore with an impressive average grade of 5.55% copper. Following the ahead-of-schedule completion of their debottlenecking program in the first quarter, Kamoa-Kakula’s Phase 1 and 2 concentrators have consistently exceeded their steady-state...
Canadian Critical Minerals Inc. Divests Stake in Thierry Copper Mine
Canadian Critical Minerals Inc. (CCMI) has agreed to sell a 45% interest in Pickle Lake to Orecap for $1,350,000 in an all-cash deal. As part of the transaction, CCMI will acquire 3,000,000 share purchase warrants from Pickle Lake with varying exercise prices and validity durations. Additional milestone payments from Pickle Lake to CCMI are contingent upon increases in the NI...
Almalyk Copper Plant in Uzbekistan Obtains $2.55 Billion Loan for Production Boost
The Almalyk Mining and Metals Combine (AGMK), a significant copper, silver, and gold producer in Uzbekistan, has secured a $2.55 billion loan from Germany’s KfW-IPEX Bank. This financial move aims to double AGMK’s current production capacity. Last year, AGMK produced 148,500 metric tons of copper. AGMK’s operations are primarily based on reserves of copper-molybdenum, lead-zinc, and gold-silver deposits found in...
Spruce Ridge Resources Ltd. Secures Agreement with Benton Resources Inc. for Newfoundland Property
Spruce Ridge Resources Ltd has confirmed its option agreement with Benton Resources Inc. as of September 20, 2023. Through this agreement, Benton has the option to earn up to a 70% stake in Spruce’s Great Burnt Copper/Gold Property. Key Points of the Agreement: Upon Benton securing a 70% interest, both companies will jointly operate the property. Should either company’s interest...
Impact of China’s Slowdown on the Metal Market
China’s slowing economy is impacting the metal market with prices on a decline. As a major consumer of metals, its economic deceleration prompts traders to look elsewhere, specifically towards oil and select agricultural commodities. Metals Feel the Heat Hedge funds, eyeing the broader picture, anticipate a deeper slump in metals, ranging from platinum and aluminum to silver and copper. This...
Metal Market Reacts to Chinese Economic Slowdown
China’s Influence on Metal Trading: The economic slowdown in China, a major metal consumer, is causing concern in global metal markets. This has led to declining prices and traders looking for alternative investment avenues. Impact on Metal Prices: Metals like copper, aluminum, and zinc have decreased in value, with nickel experiencing a notable 38% decline. With China consuming a significant...
Russia’s Pervasive Influence in the Metal Market Amidst Western Sanctions
Russia’s Unyielding Hold Two years after the Ukraine invasion, the West’s sanctions against Russia, intended as a fortress of economic isolation, exhibit vulnerabilities, especially in the realm of raw materials. Moscow’s influence persists, supplying an array of essential materials like pig iron, aluminum, ferroalloys, and copper that slip through the sanctions’ net. Dependence on Russian Supplies The Black Sea crisis...