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Copper News

Red Rock raises cash to advance DRC exploration

By: Creamer Media Reporter      Updated 3 hours ago Aim-listed Red Rock Resources has raised £323 750 through the placing of 63.48-million new ordinary shares at 0.51p. "The placing ensures the company can manage its cash flow prudently while driving an increased tempo of exploration in the [Democratic Republic of the Congo (DRC)] as the scale of... 

Antofagasta copper output rises as China fears threaten demand

By: Reuters     Updated 3 hours ago Chile-focused copper miner Antofagasta posted a 22.6% jump in first-quarter copper production and maintained its full-year output outlook, despite the possibility that China may ease stimulus measures which could hurt prices. Antofagasta said on Wednesday production in the quarter was bolstered... 

Antofagasta copper output rises as China fears threaten demand
Antofagasta CEO Iván Arriagada

Teck starts 'quiet dialogue' on selling some copper projects

By: Bloomberg     Updated 5 hours ago Teck Resources, focusing on its massive expansion of the Quebrada Blanca mine in Chile, expects to sell some or all of its stakes in two smaller Latin American copper projects by next year, CEO Don Lindsay says. The Zafranal and San Nicolas projects could be sold by early 2020, Lindsay said... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Cornerstone and Newcrest in definitive Ecuador option agreement

By: Creamer Media Reporter      23rd April 2019 Australian major Newcrest has signed a binding option and farm-in agreement with exploration company Cornerstone Capital Resources over the Caña Brava and Tioloma properties in Ecuador, targeting epithermal gold/silver and porphyry gold/copper deposits. The agreement replaces the heads of... 

JXTG declines to comment on Caserones copper mine sale report

By: Reuters     23rd April 2019 JXTG Holdings, a Japanese oil refiner and miner, on Monday declined to comment on a media report that it is exploring the sale of its majority-owned Caserones copper mine in Chile. The Wall Street Journal said on Friday that JXTG is exploring the sale of Caserones, which could gain the company... 

South Africa could face copper shortage in next five years

By: Cameron Mackay     19th April 2019 Owing to a lack of significant new copper mining projects, constant illegal exports of copper scrap and import reductions from key copper producing economies, South Africa could struggle to meet local demand for copper in the next five years, says regional copper commodity body Copper Development... 

South Africa could face copper shortage in next five years
Photo by Reuters
SUPPLY TROUBLES Copper Development Association Africa says South Africa will have to import, at great cost, copper cathodes to meet local demand

Canadian miner finds new high-grade zinc and gold deposit

19th April 2019 Canadian mining company Hudbay Minerals has announced the discovery of 35.6 m of high-grade mineralisation including both zinc-rich massive sulphides and gold. The deposit is located between the old Chisel North mine and the producing Lalor mine in Manitoba, Canada, at a down hole depth between... 

Canadian miner finds  new high-grade zinc  and gold deposit
ALAN HAIR These zinc-rich and gold-rich intersections highlight the ever prospective nature of the Flin Flon greenstone belt and demonstrate the value of our Manitoba assets

China’s scrap regulations important factor in copper market

By: Cameron Mackay     19th April 2019 New legislation and regulations by the Chinese government for the import of scrap materials could be a significant factor in the copper market this year, suggests international metals and minerals consultancy Roskill associate consultant Jonathan Barnes. China announced plans in April last year... 

China’s scrap regulations important factor  in copper market
Photo by Bloomberg
RESTRICTED REGULATIONS As a result of regulations and a trade war, China will need to replace copper scrap units with imports of more refined copper

Murray & Roberts Cementation wins Palabora contract

19th April 2019 Mining contractor Murray & Roberts Cementation has been awarded a contract by copper miner Palabora Mining Company for a 1 200-m-deep ventilation shaft. The shaft, with a lined diameter of 8.5 m, will reach a final blind sink depth of 1 190 m before a drop raise takes it to its final depth,... 

Murray & Roberts Cementation wins Palabora contract
CONSTRUCTION A surface headgear and winder installation will be constructed from January to March 2020

Underground copper project start remains on track

19th April 2019 Copper ore company Nevada Copper has confirmed that its Pumpkin Hollow underground copper project remains on target to start production in the fourth quarter this year. Pumpkin Hollow is located in Nevada, in the US and has substantial reserves and resources including copper, gold and silver. 

Underground copper project start remains  on track
ON SCHEDULE surface infrastructure and processing equipment are advancing to plan

Ivanplats to complete early-works construction at Platreef Shaft 2

By: Mc'Kyla Nortje     19th April 2019 Ivanplats, the South African subsidiary of Ivanhoe Mines, is expected to complete early-works construction at Shaft 2 of the Platreef palladium/platinum/nickel/copper/gold/rhodium project, near Mokopane, in Limpopo, South Africa, in the second quarter, says Ivanplats VP and project director... 

Ivanplats to complete early-works construction at Platreef Shaft 2
SHAFT 2 Aerial view of the Shaft 2 box cut early works with the concrete hitch under construction

Cochilco holds 2019 copper forecast at $3.05/lb

By: Reuters     18th April 2019 Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, rising slightly to $3.08 for 2020 on improving prospects for growth in China. Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96-million tonnes for 2019 and... 

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

Polymetal reports big jump in production

By: Creamer Media Reporter      18th April 2019 Russian gold and silver producer Polymetal on Thursday reported a 27% year-on-year increase in first-quarter gold-equivalent (GE) production, on the back of a strong performance from its Kyzyl mine and steady operational performance at its other mines. GE production increased to 374 000 oz. Gold... 

Sandfire ups outlook for 2019

By: Esmarie Iannucci     18th April 2019 Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia. Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at... 

Green economy good news for copper producers – Antofagasta chairman

By: Reuters     18th April 2019 The global fight against climate change will boost demand for copper, a key metal used in the production of electric vehicles, Antofagasta chairperson Jean-Paul Luksic said on Wednesday. Luksic, speaking to reporters at Antofagasta's Los Pelambres mine in north-central Chile, said the global... 

NGEx to separate Argentina and Chile projects with spin-out

By: Mariaan Webb     18th April 2019 Vancouver-based copper/gold explorer and developer NGEx Resources has announced that it will spin out its Los Helados project, in Chile, into a wholly-owned subsidiary, Spinco, to allow it to focus on the more advanced Josemaría project, in Argentina, which is now advancing to the feasibility... 

Hudbay says largest shareholder to vote for its nominees

By: Mariaan Webb     18th April 2019 TSX- and NYSE-listed Hudbay Minerals said on Wednesday that its largest shareholder, Letko, Brosseau & Associates, had confirmed that it would vote for the company's director nominees at the upcoming shareholders meeting. Letko, Brosseau & Associates exercises investment control or direction... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

Moroccan miner Managem considering raising $200m in bond sales

By: Reuters     17th April 2019 Morocco's leading mining firm Managem says it is considering raising $200-million through the sale of nonconvertible bonds with a maturity of up to seven years, to fund its development plans. The terms of the issuance will have to be approved by its general assembly on May 6, Managem said in a... 

Nevada Copper details plans for Pumpkin Hollow openpit

By: Mariaan Webb     17th April 2019 TSX-listed Nevada Copper has announced the outcomes of a newly completed prefeasibility study (PFS) for a standalone openpit mine at its Pumpkin Hollow project, where it is currently constructing an underground mine. The PFS considers developing the openpit independently from the underground... 

Nevada Copper details plans for Pumpkin Hollow openpit
The Pumpkin Hollow site (December 2018)

Judge revokes water-use permit for Hecla’s Montana project

By: Mariaan Webb     17th April 2019 A judge in the US state of Montana has reversed the award of a water-use permit for Idaho-based Hecla Mining subsidiary, RC Resources’ Rock Creek silver/copper mine. Montana District Court Judge Kathy Seeley sided with plaintiffs who argued that their concerns regarding the impact that the... 

Wetar's new owners make a change

By: Esmarie Iannucci     17th April 2019 The Wetar copper project, in Indonesia, is expected to reach its targeted production rate of 25 000 t/y by the second half of this year, after a $24-million cash injection from new owner Eastern Field Development (EFDL). EFDL in October 2017 launched a takeover bid for project owner Finders... 

Orion Minerals, PTM make headlines 

17th April 2019 This week Mining Weekly editor Martin Creamer unpacks the developments at Orion Minerals and Platinum Group Metals. 

Orion Minerals, PTM make headlines
Orion Minerals, PTM make headlines

Beowulf raises another £500 000

By: Creamer Media Reporter      16th April 2019 Nordic-focused mineral exploration and development company Beowulf Mining has announced that it will raise £500 000 by issuing shares at 5.75p each. The funds are for general working capital purposes and for supporting its commitment to Vardar Minerals’ Kosovan exploration programme, the company... 

Waterton launches legal action against Hudbay

By: Creamer Media Reporter      16th April 2019 Toronto-based investment firm Waterton Global Resource Management, which is waging a proxy contest against Hudbay Minerals, has started legal proceedings against the TSX- and NYSE-listed miner in the Ontario Superior Court. According to a statement from Hudbay, Waterton is alleging that the... 

Waterton launches legal action against Hudbay
Hudbay CEO Alan Hair

Lumwana says higher taxes will have severe impact on business

By: Reuters     16th April 2019 Higher mineral taxes in Zambia will have a severe effect on Lumwana Mining Company's operations, driving its costs up, the copper miner's country manager, Nathan Chishimba, told journalists on Tuesday. Earlier this year, Africa's second-largest copper producing country increased royalties and... 

Turquoise Hill reviewing impact of Oyu Tolgoi Shaft 2 delay

By: Mariaan Webb     16th April 2019 Rio Tinto, the project manager of the Oyu Tolgoi, in Mongolia, has concluded a review of the fit-out and commissioning issues at Shaft 2 – the main production and services shaft of the underground development – and expects the Shaft to be completed by the end of October. Rio Tinto-owned... 

Orion clinches potent new-style empowerment deal  

By: Martin Creamer     16th April 2019 Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution. “What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told... 

Orion clinches potent new-style empowerment deal
Orion Minerals CEO Errol Smart (left) interviewed by Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Dylan Slater.

After 40 years, Chile copper giant is struggling to stay on top

By: Bloomberg     16th April 2019 Over more than a century, miners have been digging an open pit in northern Chile that’s now more than four times the size of New York’s Central Park. The Chuquicamata mine has helped Codelco dominate the copper market as the world’s number one producer of the metal. Now, the state-owned company... 

Atalaya reports first-quarter production results

By: Creamer Media Reporter      15th April 2019 European copper producer Atalaya Mining on Monday posted an 8% year-on-year increase in first-quarter copper production to 10 219 t. Compared with the fourth quarter of last year, which was a record three-month period, output fell by 9%, as a result of slightly lower throughput and head grade,... 

Lundin buys Yamana’s copper mine for more than $1bn

By: Mariaan Webb     15th April 2019 Toronto-headquartered Lundin Mining will buy fellow Canada-based miner Yamana Gold’s Chapada mine, in Brazil, for more than $1-billion, it was announced on Monday. Lundin president and CEO Marie Inkster said that the acquisition of the copper and gold mine complemented the company’s portfolio... 

Lundin buys Yamana’s copper mine for more than $1bn

Aeris walks away from Glencore copper mine buy

By: Esmarie Iannucci     15th April 2019 SX-listed Aeris has abandoned its $575-million plan to buy the CSA copper mine, in New South Wales, from major Glencore. The company told shareholders on Monday that it had been unable to reach agreeable terms with the Swiss-headquartered major. 

Rio Tinto injects another $302m into Arizona copper project

By: Esmarie Iannucci     15th April 2019 Major Rio Tinto will invest a further $302-million to advance the Resolution copper project, in Arizona. Rio, which owns a 55% interest in the project, and project partner BHP, which owns the remaining 45% interest, have invested over $2-billion on the permit since 2004, including on sinking a... 

Rio Tinto injects another $302m into Arizona copper project

Polish lawmakers approve copper tax cut ahead of election

By: Reuters     15th April 2019 Poland's lower house of parliament, dominated by the ruling conservative Law and Justice (PiS) party, approved on Friday a 15% cut in the copper tax to allow more investment by state-run copper producer KGHM . The mining levy was introduced in 2012 by PiS's predecessors in an attempt to improve... 

Arc to drill new targets at Zambia project

By: Marleny Arnoldi     12th April 2019 Aim-listed Arc Minerals has started an exploration programme at its Zamsort copper/cobalt project, in Zambia. This followed completion of an airborne geophysical programme. The exploration programme entails infill soil sampling over new targets, with 1 200 samples already completed, and... 

Taseko produces copper at Florence

By: Creamer Media Reporter      12th April 2019 The production test facility at base metals miner Taseko Mines’ Florence copper project, in central Arizona, is fully operational and is producing copper, the Vancouver-headquartered company announced on Friday. It reported that, over a three-month period, about 1.5-million tons of copper ore had... 

Taseko produces copper at Florence
The first copper from the Florence test facility.
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