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Copper News

Plant shutdowns impact Vedanta's Q3 output

By: Megan van Wyngaardt     Updated 5 hours ago Despite lower output at its zinc operations in the third quarter of the current financial year, diversified miner Vedanta Resources says it is still on track to achieve its stated guidance of higher mined metal production for the full year. Its total production across operations for the quarter... 

Five mining legends to be inducted to Canadian hall of fame

By: Creamer Media Reporter      13th January 2017 The Canadian Mining Hall of Fame will induct five mining celebrities into the list of extraordinary mining leaders at the annual dinner to be held for the first time at the Metro Toronto Convention Centre. According to a news release, Canadian mining celebrity Robert McEwen leads the list of... 

Federal funding for new Tlicho all-season road a boost for Fortune’s Nico project

By: Henry Lazenby     13th January 2017 Federal funding for up to 25% of the construction costs for a new 97 km all-season road connecting Highway 3 to the community of Whati, in the Northwest Territories, augers well for project developer Fortune Minerals’ endeavours to secure financing for its nearby Nico cobalt/gold/bismuth/copper... 

Congo Minister says Glencore can buy Gertler’s copper mine stake

By: Bloomberg     12th January 2017 The Democratic Republic of Congo’s Mines Ministry said it wouldn’t oppose a transfer of ownership in the country’s biggest copper and cobalt producer, marking a departure from previous actions to block or tax changes in shareholding structures. Glencore said last week it’s considering increasing... 

Congo Minister says Glencore can buy Gertler’s copper mine stake

Indonesia says Freeport, other miners halt exports

By: Reuters     12th January 2017 Freeport-McMoRan and other miners have halted Indonesian shipments of copper concentrates to abide by a government ban on semi-processed metal ore exports that took effect on Thursday, a mining ministry official told Reuters. The stoppage could prove to be brief though as President Joko Widodo's... 

BHP wage showdown has copper watchers weighing strike risk

By: Bloomberg     12th January 2017 A wage negotiation at the world’s top copper mine is showing the downside for producers of recovering prices: workers want their share. Talks began in earnest Tuesday at BHP Billiton’s Escondida mine in Chile. In a preliminary phase of the collective-bargaining process, management rejected... 

Hits and misses as production reports roll in

By: Henry Lazenby     11th January 2017 Several North American miners issued fourth-quarter and full-year 2016 production reports on Wednesday, with some reporting better-than-expected results and others missing the mark. TSX- and NYSE MKT-listed streaming and royalty firm Sandstorm Gold sold record volume of 13 200 attributable... 

Hits and misses as production reports roll in

Mexico's industrial production flat as mining slumps

By: Reuters     11th January 2017 Mexican industrial output was flat in November as factory production rose to its fastest pace in nearly a year but mining shrank, Mexico's national statistics office said on Wednesday. Mexican industrial production was unchanged compared to the prior month, data showed, and down from a 0.2%... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Tiger delivers on revised production promises

By: Esmarie Swanepoel     11th January 2017 ASX-listed copper miner Tiger Resources has achieved its targeted production at the Kipoi project, in the Democratic Republic of Congo. The miner reported on Tuesday that 23 119 t of copper cathode was produced at Kipoi during 2016, which was within the revised guidance of between 23 000 t and... 

Kincora advances Mongolian porphyry discovery

By: Henry Lazenby     10th January 2017 Exploration work by TSX-V-listed Kincora Copper has confirmed that its East Tsagaan Suvarga (East TS) target is a mineralised porphyry system with comparable geochemistry, magma fertility and age to that of other developed projects in the same mineral belt, including the massive Oyu Tolgoi and... 

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

Sumatra hits production targets in Indonesia

By: Esmarie Swanepoel     10th January 2017 ASX-listed Sumatra Copper & Gold has hit its production targets for 2016, with the miner producing 30 509 gold equivalent ounces from its Tembang gold/silver operation, in Indonesia. “Despite the considerable challenges experienced during 2016, meeting production guidance for our first full-year... 

MMG hedges on higher prices

By: Esmarie Swanepoel     10th January 2017 Metals miner MMG has taken advantage of the strong increase in copper prices during the fourth quarter of 2016, hedging some 112 000 t of copper at a net price of $2.50/lb. The company said this week that the decision to enter into the hedging was considered in the best interest of MMG, and was... 

Taseko rides ‘ideal scenario’ as output rises

By: Henry Lazenby     9th January 2017 Base metals producer Taseko Mines is finding itself in an “ideal scenario”, as higher full-year and fourth-quarter production, lower costs and higher copper prices conspire to boost its balance sheet. The Vancouver-based miner, which owns a 75% stake and operates the Gibraltar copper/molybdenum... 

Glencore mulls bigger stake in Mutanda Mine in DRC

By: African News Agency      6th January 2017 Glencore said on Friday that it was considering options to take a bigger stake in the Mutanda Mine, a copper and cobalt mine in the Democratic Republic of Congo. The global mining company said the announcement to shareholders was being made in response to queries from the media. It said it would... 

Corboda Minerals reports maiden resource for Alacran copper/gold project, Colombia

By: Henry Lazenby     5th January 2017 Junior explorer Corboda Minerals, in collaboration with High Power Exploration (HPX), a private mineral exploration company indirectly controlled by billionaire mining entrepreneur Robert Friedland's Ivanhoe Industries, have announced a maiden resource estimate on the Alacran copper/gold project,... 

Corboda Minerals reports maiden resource for Alacran copper/gold project, Colombia

Central Asia Metals reports record FY copper output

By: Henry Lazenby     5th January 2017 Small-scale Aim-listed copper producer Central Asia Metals has reached a new full-year production record in 2016 as the Kounrad dump leach, solvent extraction and electro-winning copper recovery plant in Kazakhstan ramps up. The London, England-based company reported record output during 2016,... 

Central Asia Metals reports record FY copper output

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

Tough labour talks could lead to strike at Escondida copper mine – union

By: Reuters     4th January 2017 Workers at BHP Billiton-owned Escondida, the world's biggest copper mine, could go on strike in February if collective contract talks with the company are unsuccessful, union spokesperson Carlos Allende told Reuters on Wednesday. Allende said that "clearly the company is creating an open... 

Zambia Vedanta mine workers strike over delayed pay talks

By: Reuters     4th January 2017 Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines (KCM), a unit of Vedanta Resources, in a dispute over the pace of wage talks, a union official said on Wednesday. The stoppage at the Konkola mine in Chililabombwe in northern Zambia began... 

Polish copper firm KGHM should keep its foreign assets – minister

By: Reuters     3rd January 2017 Poland's KGHM, which is one of the world's biggest copper producers, should not sell its foreign assets, Polish minister Henryk Kowalczyk said on Tuesday. The state-run and Poland-focused company invested overseas for the first time in 2011 when it bought Canada's Quadra FNX, for C$2.87-billion... 

Polish copper firm KGHM should keep its foreign assets – minister

US factory activity hits two-year high as orders surge

By: Reuters     3rd January 2017 US factory activity accelerated to a two-year high in December amid a surge in new orders and employment, suggesting some of the oil-related drag on manufacturing was fading. Other data on Tuesday showed construction spending hitting a 10-1/2-year high in November, which could provide a lift to... 

US factory activity hits two-year high as orders surge

LME warehouse rents rises to slow in 2017/18

By: Reuters     31st December 2016 Warehouse firms in the London Metal Exchange's network of more than 600 warehouses in 37 locations have announced significantly lower rent rises for the year starting in April, the exchange said in a release on Friday. The LME said this year it would freeze the maximum rate for five years to curb... 

LME warehouse rents rises to slow in 2017/18

Tesla makes Reno a critical pit stop on way to Las Vegas and CES

By: Bloomberg     29th December 2016 As far as Tesla’s concerned, what’s happening in Las Vegas can stay in Las Vegas. The real action is some 400 dusty miles northwest, across the state in Reno. The electric-car maker is seizing on next week’s consumer electronics show to host investors and analysts at Gigafactory 1, the sprawling... 

Tesla makes Reno a critical pit stop on way to Las Vegas and CES
Photo by Reuters
Tesla Model S

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

European shares ease as miners, banks fall

Serbia seeks new management for loss-making state copper mine

By: Reuters     29th December 2016 Serbia's RTB Bor is seeking a new management team to prepare the state-run copper mine and smelter for privatisation and repay up to one-billion euros ($1.05-billion) of debt. The Balkan state has been trying to privatise RTB Bor for more than a decade. 

Serbia seeks new management for loss-making state copper mine

Zambia withholding $243m in tax refunds owed to mining firms

By: Reuters     28th December 2016 Zambia is withholding 2.4-billion kwacha ($243-million) of the 5-billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday. Zambia's government began paying up to 800-million kwacha a month in Value Added... 

Zambia withholding $243m in tax refunds owed to mining firms
Photo by Bloomberg
A mine supervisor overlooks Metorox's Chibuluma copper mine, near Kitwe, Zambia

Refined copper widens nine-month deficit - report

By: Henry Lazenby     23rd December 2016 The latest data out from the Lisbon-based International Copper Study Group (ICSG) shows a copper production deficit of 84 000 t for the first nine months this year, wider than the deficit of around 28 000 t in the comparable period of 2015. The ICSG’s preliminary data for September world copper... 

Refined copper widens nine-month deficit - report

IHS Materials Price Index jumps to 18-month high; emergent weakness to undermine momentum

By: Henry Lazenby     23rd December 2016 Analytics firm IHS Markit reports that its Materials Price Index (MPI) rose for a sixth consecutive week, increasing 1.4% to hit a fresh 18-month high. IHS Global Insight Pricing & Purchasing senior economist Ben Orhan pointed out that ferrous metals once again drove the index higher, gaining... 

IHS Materials Price Index jumps to 18-month high; emergent weakness to undermine momentum

Imperial Metals launches $55m equity financing

By: Henry Lazenby     23rd December 2016 British Columbia-based miner, project developer and explorer Imperial Metals has announced a private placement of up to ten-million common shares at $5.50 each. The TSX-listed company said Thursday it will use the funds to bolster its working capital and for general corporate purposes. 

Trump win ignites hope for stalled Alaska copper, gold mine

By: Reuters     22nd December 2016 A small Canadian miner is confident Donald Trump's US presidential win will let it proceed with an application for a copper and gold mine in Alaska that has been stalled almost three years by environmental regulators aiming to protect the world's biggest sockeye salmon fishery. Ronald Thiessen,... 

Taseko gets final nod for Florence in situ test facility

By: Henry Lazenby     21st December 2016 Base metals producer Taseko Mines has received approval to proceed with construction of the first phase of its controversial Florence in situ copper project, in Arizona. The US Environmental Protection Agency has issued a final underground injection control (UIC) permit for Taseko to proceed with... 

Taseko gets final nod for Florence in situ test facility
Photo by Taseko Mines
Bench-scale tests of the Florence mining process, in Arizona

Alecto looks to buy Mowana copper mine

By: Megan van Wyngaardt     21st December 2016 Aim-listed Alecto Minerals on Wednesday said it was looking to acquire 100% of Botswana-based holding company Cradle Arc Investments’s shares, which owns the Mowana copper mine, for £6.72-million. Alecto will acquire a 60% interest in the 683 000 t indicated resource Mowana, a former producing... 

Alecto looks to buy Mowana copper mine

Scotiabank Commodity Index set to end 2016 on high note

By: Henry Lazenby     21st December 2016 The Bank of Nova Scotia expects its benchmark Scotiabank Commodity Price Index to finish the year up 25%, with all sub-indices showing positive performance, the third largest Canadian banking group said Tuesday. The oil and gas index rose 55% in the year-to-November after both oil and natural gas... 

Scotiabank Commodity Index set to end 2016 on high note
Photo by Bloomberg
The surprise rally of bulk commodities, especially metallurgical coal, has lost some momentum in the final weeks of 2016

Triple Flag picks up maiden Milpo silver stream

By: Henry Lazenby     20th December 2016 Seven-months-old mine finance firm Triple Flag has acquired its first silver streaming agreement with Milpo UK, a subsidiary of Latin American conglomerate Votorantim’s Compañía Minera Milpo, for most silver output from Cerro Lindo, a poly-metallic zinc mine, in Peru. Under the streaming... 

World Bank lends Zambia $100m to tackle mining pollution

By: Reuters     20th December 2016 The World Bank has agreed to lend Zambia more than $100-million to reduce environmental health risks in polluted mining areas and support economic diversification. Mining is a major contributor to the economic growth of Zambia, Africa's second biggest copper producer, but it has left... 

World Bank lends Zambia $100m to tackle mining pollution

British court orders Vedanta's Zambia unit to pay government $100m

By: Reuters     20th December 2016 Konkola Copper Mines (KCM), owned by Vedanta Resources, has been ordered by a London court to pay the Zambian government more than $100-million for a claim related to the copper price, the State-owned company said in a statement. The claim relates to outstanding payments under a 2013 copper price... 

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