The situation in South Korea is interesting: South Korean battery manufacturers could be facing a shortage of copper. Specifically, there could be a shortage of foil made from the red metal as a result of its limited supply on the global market. Not surprisingly, copper foil is essential for the anodes of lithium-ion batteries used in electric cars, smartphones and...
Copper news
Nornickel says still selling copper via Rotterdam, eyes North Africa hub
The port of Rotterdam allowed Russian miner Nornickel to sell copper supplies through the appropriate transshipment hub, the company’s vice president, Dmitry Pristanskov, told the St. Petersburg International Legal Forum. “We have worked out a plan for an African hub for ourselves, this is the port of Tangier in Morocco in North Africa. Moreover, relatively recently Rotterdam still allowed copper...
Shortage of copper will push copper prices up
The International Copper Study Group made a curious forecast: according to it, production of copper on the planet in the current year will increase by 2.6% to 26.317 million tons, its consumption will grow by 1.4% to 26.431 million tons. Thus, by the end of 2023, the global market is expected to be short of copper in the amount of...
Nornickel completing last stage of Taimyrsky mine rehaul to extend production capacity, lifespan
Russian diversified metals producer Nornickel is rehauling its Taimyrsky mine, and the upcoming completion of the Bolshoi Gorst area project is set to increase its production capacity, the company announced. Nornickel launched the investment project targeting the Bolshoi Gorst area in 2009. The project was divided into five parts, and the final one is nearing completion. The cost of the...
Steel Dynamics bets on aluminium
US-based Steel Dynamics has begun construction on a flat-rolled aluminium plant in Mississippi. The project cost is estimated at USD 2.2 billion, with operations expected to get underway in Q1 2025. The site will have an output of 650,000 tons of low-carbon aluminium sheets per year. The move has been received as an extraordinary event in the US aluminium industry...
Teck Resources spins off steelmaking coal unit to focus on energy transition metals, takes new name
Canadian diversified miner Teck Resources announced on Tuesday it would spin off its steelmaking coal business into a new company, called Elk Valley Resources (EVR), to focus on energy transition metals. The remaining business will take a new name, Teck Metals, and retain steelmaking coal cash flows for the transition period. The deal will be structured as EVR’s spin-off. Teck...
Freeport-McMoran suspends world’s second-largest copper mine in Indonesia after heavy rains
Mining company Freeport-McMoran announced suspension of operations at Grasberg, the world’s second-largest copper mine in Indonesia, after heavy rainfalls caused landslides in the area. “PT Freeport Indonesia’s (PT-FI) Grasberg operations have been temporarily disrupted because of significant rainfall and landslides in the area of its milling operations in Papua, Indonesia,” the company said. Infrastructure near the company’s milling complex was...
Thakadu and Mertech Partner to Establish Copper Sulphate Plant in South Africa
Thakadu Resources and Mertech Marine have entered into a joint venture to establish a new high-purity copper sulphate plant in South Africa. The new plant, which will be funded equally by both parties, aims to provide a unique, reliable, and responsible source of copper sulphate for the mining, agricultural, and chemical industries in Sub-Saharan Africa. Thakadu, which has pioneered the...
Anglo American boosts copper output by 52% y/y in Q4 2022
Diversified miner Anglo American boosted copper output by 52% year-on-year to 244,000 tonnes in the fourth quarter of 2022, while its copper total equivalent production was up 10% for the period, the company said in its production report. “Our production increased by 10% in the fourth quarter compared to the same period in 2021, driven by the ongoing ramp-up at...
Antofagasta reports 10.4% drop in 2022 copper output, 2023 guidance remains unchanged
Chilean miner Antofagasta reported a 10.4% decrease in copper output for 2022, due to lower ore grades and a drought in Chile impacting production. The company produced 646,200 tonnes of copper last year, which was at the lower end of its outlook of 640,000 to 660,000 tonnes. The CEO of the company, Iván Arriagada, said that the recent strength in...