Three Chinese entities are among the remaining contenders vying to acquire a Botswana copper mine potentially valued at around $2 billion, as disclosed by individuals familiar with the matter. Zijin Mining Group Co., MMG Ltd., and Aluminium Corp. of China, also known as Chinalco, have advanced to the second round of the bidding process for the Khoemacau project, according to...
Copper news
197 Funds Seek Damages from Glencore Over Allegations of Misleading Statements
A total of 197 investment funds, including those managed by major firms like Abrdn, Fidelity, HSBC, Invesco, Legal & General, and Vanguard, are pursuing legal action against Swiss mining giant Glencore. They allege that Glencore made misleading or untrue statements in its prospectuses to conceal corrupt activities. The claimants contend that they suffered financial losses directly resulting from “untrue statements”...
Peru Lowers Economic Growth Forecasts Due to Copper Industry Woes and El Niño
Peru’s government has revised its economic growth forecasts downward for this year and the next, citing challenges in the country’s copper industry, the El Niño weather phenomenon, and social unrest. The Ministry of Economy and Finance (MEF) announced in Peru’s official gazette, El Peruano, that the economy is now expected to grow by 1.1% in 2023. This is a significant...
Sibanye Stillwater Mulls Chinese Investment for Mopani Copper Mines Acquisition
South Africa’s Sibanye Stillwater (SSWJ.J) is considering the introduction of a Chinese investor as a strategic partner if it succeeds in its bid to acquire Zambia’s Mopani Copper Mines, according to Chief Executive Neal Froneman in a statement to Reuters. Sibanye Stillwater, a Johannesburg-based precious metals producer, is among the shortlisted potential buyers for the copper mines owned by a...
Copper Fox Metals Updates Mineral Resource Estimate for Eaglehead Project
Copper Fox Metals (TSXV: CUU) has released an updated mineral resource estimate (MRE) for its 100%-owned Eaglehead copper-gold-molybdenum-silver porphyry copper project located in northwestern BC. The MRE was prepared by Moose Mountain Technical Services, utilizing a C$5.50 net smelter return (NSR) as the base case for the estimate. At the C$5.50 NSR cutoff, the indicated in situ grades are reported...
Apollo Minerals to Acquire Belgrade Copper Project with Significant Exploration Potential
Apollo Minerals is in the process of acquiring the Belgrade copper project in Serbia, a project that holds the potential for world-class sedimentary-hosted copper deposits. Belgrade’s Studena, Donja Mutnica, and Kopajska Reka prospects were originally part of Reservoir Minerals’ Serbian assets before they were acquired by Nevsun Resources in 2016 for US$365 million and subsequently by Zijin Mining in 2018...
QMines to Acquire Develin Creek Copper-Zinc Project from Zenith Minerals
QMines has reached an agreement to acquire the Develin Creek copper-zinc project located 80 km northwest of Rockhampton in central Queensland, Australia, from Zenith Minerals. The Develin Creek project’s proximity, as well as its high-grade copper and zinc resource, makes it a highly complementary addition to QMines’ Mt Chalmers copper and gold project, located 90 km west of Develin Creek....
QC Copper and Gold Announces Positive Metallurgical Results from Roger Property
QC Copper and Gold (TSXV: QCCU) has released metallurgical findings from samples obtained at its Roger property, situated approximately 5 km north of the historical mining center of Chibougamau, Quebec. The purpose of the metallurgical sampling at the Roger deposit was to assess whether the material at Roger could be effectively processed using the same flowsheet currently being evaluated for...
Zijin Mining Group Explores Significant Expansion of Copper Mine in Serbia
China’s Zijin Mining Group Co. is actively strategizing to expand its copper mining operations in eastern Serbia, driven by the surging demand for this critical metal in the context of the global energy transition. This expansion initiative could potentially entail investments reaching billions of dollars. Approximately two years ago, Zijin Mining initiated the Cukaru Peki copper and gold mine with...
First Quantum Minerals and Rio Tinto Announce Joint Venture for La Granja Copper Project in Peru
Canadian firm First Quantum Minerals and mining major Rio Tinto have recently concluded the establishment of a joint venture (JV) to advance the La Granja copper project in Peru. Located in the high-altitude region of Cajamarca, Northern Peru, La Granja is a complex orebody with the potential for a substantial, long-lasting mining operation. The project boasts indicated and inferred mineral...