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Copper News
Union at Antofagasta's Los Pelambres mine expects labour deal to avoid strike
By: Reuters Updated 4 hours ago Supervisors at Antofagasta Minerals' Los Pelambres copper mine in Chile expect to reach a new contract agreement in a mandatory mediation process with the company, which is set to begin later this week to avoid a strike at the site, a union head said on Tuesday. Last week, 94% of union members... →
Judge expects to issue judgment in Haib prospecting licence renewal case in Nov
By: Tasneem Bulbulia 4th October 2022 TSX-V-listed Deep-South Resources announces that the High Court of Namibia’s hearing of the review of the Minister’s decision not to renew the exploration and prospecting licence for the Haib copper project was held on October 3, and the judge indicated that a written judgment is to be expected... →
Marula invests in high-grade copper mining project in Tanzania
By: Tasneem Bulbulia 4th October 2022 Africa-focused mining investment company Marula Mining has entered into a binding heads of agreement with Tanzanian mining company Takela Mining Tanzania and has secured a 49% commercial interest in the Kinusi copper mining project, which comprises ten granted copper mining licences. The signing... →
Desalination plant delay to hit Los Pelambres 2023 production
By: Mariaan Webb 4th October 2022 London-listed Antofagasta will lower its 2023 production guidance when it reports its third-quarter results later this month, following a delay in the completion of the desalination plant project, which is key to water availability at the Los Pelambres mine in Chile. Marine construction work on... →
Investment required to meet mining’s decarbonisation, power challenges – PwC 
By: Martin Creamer 4th October 2022 South Africa’s mining sector will be required to make major investments into alternative and renewable energy sources and energy planning to address the dual challenges of decarbonisation and reliable power supply, PwC said on Tuesday when it launched its SA Mine report, which highlights mining’s... →
Energy and battery minerals driving Australian exports to record levels
By: Esmarie Iannucci 4th October 2022 Australia’s resources and energy exports are forecast to reach a record A$450-billion in 2022/23, with the export of battery metals, including copper, nickel and lithium, expected to more than double on the 2020/21 earnings. In the latest Resources and Energy Quarterly, the Office of the Chief... →
Freeport-McMoRan to earn into Bute Valley copper project
By: Creamer Media Reporter 4th October 2022 US-based mining major Freeport-McMoRan has acquired an exclusive right and option to acquire up to an 80% interest in Canadian private company Falcon Butte Minerals’ Butte Valley copper project, in the White Pine county, Nevada. Under the terms of the agreement, announced by Falcon Butte,... →
More platinum-based green hydrogen generation on the way
By: Martin Creamer 3rd October 2022 Up to 1 350 t of green hydrogen can now be generated a year from renewable solar and wind power in the Wunsiedel Energy Park, in Germany. “This is another example of platinum-based production of green hydrogen in Europe that will assist both the replacement of imported natural gas and the earlier... →
Date set for Turquoise Hill takeover vote
By: Creamer Media Reporter 3rd October 2022 Shareholders of Toronto- and New York-listed Turquoise Hill will on November 1 vote on the cash takeover offer from Rio Tinto, the company behind one of the world’s biggest copper mines has confirmed. Rio Tinto last month offered Turquoise Hill C$43 a share for the remaining stake in Turquoise... →
Operations at Neves-Corvo suspended after fatality
By: Creamer Media Reporter 3rd October 2022 Base metals miner Lundin Mining has temporarily suspended operations at the Neves-Corvo mine, in Portugal, following a fatality late in the evening on Friday. In what the company has described as an isolated incident underground, an employee of a materials handling contractor was fatally injured... →
Copper mining has a new champion in veteran Peruvian economist
By: Bloomberg 3rd October 2022 Put the cautious optimism on display at Peru’s top mining event down to three main factors: easing pandemic restrictions, copper’s bright longer term outlook and a diminutive sexagenarian economist. An estimated 50 000 people are doing the rounds at the Perumin show this week in Arequipa, a... →
Zambia plans to acquire 'golden shares' in mining sector, finmin says
By: Reuters 30th September 2022 The Zambian government plans to enhance its participation in the country's mining sector by acquiring "golden shares" in mining companies, finance minister Situmbeko Musokotwane said on Friday. →
Royal Coal shifts focus to EV metals exploration
By: Mariaan Webb 30th September 2022 Canadian exploration company Royal Coal has entered into an option agreement to acquire a 100% undivided interest in Poissons Blanc nickel/copper/cobalt property, in Quebec. The option repositions the company’s focus on resource exploration of electric vehicle (EV) metals. The Poissons Blanc... →
Ero makes significant nickel sulphide discovery in Brazil
By: Creamer Media Reporter 30th September 2022 Vancouver-headquartered Ero Copper on Thursday announced a significant regional nickel-sulphide discovery in the Curaçá Valley of Brazil. The newly discovered system, known as Umburana, has an initial strike length of 5 km and remains open in all directions. →
Vale announces reorganization of Brazil base metals business
By: Reuters 30th September 2022 Brazilian miner Vale on Thursday announced a reorganization of its base metals business in Brazil, saying it will transfer its copper assets in the country to Salobo Metais and its nickel assets to a new venture it will form. Vale will continue to fully own the assets and said the move comes as... →
New production targets for Sandfire as Simich steps down
By: Esmarie Iannucci 30th September 2022 Copper/gold miner Sandfire Resources has lifted its production guidance for 2023, announced the departure of its MD and CEO, Karl Simich, and completed a key financing milestone for its Motheo project, in Botswana. Sandfire on Friday announced that group production for the 2023 financial year is... →
[Corrected] Teck may raise value of Zafranal project in Peru to more than $1bn
By: Reuters 29th September 2022 Canada's Teck Resources is considering revising the value of its Zafranal copper project in Peru to more than $1-billion from $552-million, one of its executives said Wednesday. The initial value of the project was set in 2019, when copper prices were below their current levels, the general... →
The Zafranal proejct in Peru
Minerals Council ‘absolutely adamant’ about need for commercially available cadastre
By: Martin Creamer 29th September 2022 The key objective of transparency in applying for prospecting rights and mining rights – and openly managing them – can be enabled by a commercially available cadastre system. While South Africa does not have such a cadastre, fellow African countries that are already thriving on it include... →
Zambia's Konkola Copper Mines hires RMB to find new investor
By: Reuters 28th September 2022 Zambia's Konkola Copper Mines (KCM) has appointed Rand Merchant Bank (RMB) as financial advisor as the government searches for a new investor to expand the copper mine and smelter, the company's state-appointed provisional liquidator said on Wednesday. Zambia's previous government put KCM in the... →
Metals for cleaner future being turned to account in minerals-endowed Northern Cape
By: Martin Creamer 28th September 2022 South Africa’s critical minerals potential is being highlighted in an increasingly promising manner by Orion Minerals, the Sydney- and Johannesburg-listed company that is showing the way in the minerals-endowed Northern Cape. Orion, headed by its Boksburg-born CEO Errol Smart, is poised to bestow... →
MMG to invest $2bn at its troubled Peruvian Las Bambas mine
By: Reuters 28th September 2022 Chinese miner MMG expects to invest $2-billion in the next five years to expand its troubled Las Bambas copper mine in Peru and is eyeing potential acquisitions to further increase production, an executive said on Tuesday. Las Bambas GM Edgardo Orderique said at the Perumin mining conference... →
BHP sees Chile uncertainties easing in investment climate boost
By: Bloomberg 28th September 2022 Chilean regulatory uncertainties that have held up some investments in the biggest copper-producing nation are dissipating, according to top mining company BHP Group. In a referendum earlier this month, Chileans overwhelmingly rejected a proposed new constitution, while authorities are showing... →
BHP wants to expand presence in Peru, says executive
By: Reuters 28th September 2022 Global miner BHP wants to expand its presence in Peru through exploration of new projects, Rag Udd, who heads the company in the Americas, said on Tuesday at the Perumin mining conference. Peru is the world's No. 2 copper producer and BHP is a part-owner of one of its largest copper mines,... →
Cyprium cuts staff as Nifty funding lags
By: Esmarie Iannucci 28th September 2022 Copper hopeful Cyprium Metals has temporarily reduced the workforce at its Nifty operations, in the Pilbara, to just 20 personnel and contractors in order to save on operational expenditure while it works towards financing the restart of the mine. The Nifty restart study estimated that Cyprium... →
Zambia, Vedanta Resources agree to seek out-of-court settlement
By: Reuters 27th September 2022 Zambia has agreed with Vedanta Resources Limited to pause hearings on their dispute over Konkola Copper Mines for six months and seek an "amicable settlement", State mining investment firm ZCCM-IH said on Tuesday. Zambia in May 2019 handed control of KCM to a State-appointed provisional... →
Rio approves underground mining at Kennecott
By: Esmarie Iannucci 27th September 2022 Diversified miner Rio Tinto has approved a $55-million investment to start underground mining at the Kennecott copper operations, in Utah. The miner said on Tuesday that underground mining will initially focus on an area known as the Lower Commercial Skarn (LCS), which will deliver a total of... →
Pumpkin Hollow restart making progress, says Nevada Copper CEO
By: Mariaan Webb 27th September 2022 The restart of the Pumpkin Hollow underground copper mine, in Nevada, is making progress, with plans in place to restart the mill by the middle of next year, Toronto-listed Nevada Copper CEO Randy Buffington said on Monday. The company, which recently agreed a nonbinding funding package that... →
Green hydrogen, fuel cells important part of any future energy system, says global strategist
By: Martin Creamer 27th September 2022 Green hydrogen and fuel cells will be a very important part of any future energy system, says Switzerland-based energy and sustainability consultancy strategist Dr David Hart. Among the electrolysers that convert renewable electricity into green hydrogen are proton exchange membrane (PEM)... →
Volkswagen teams up with Umicore on battery materials
By: Reuters 26th September 2022 Volkswagen announced on Monday a $2.9-billion battery parts joint venture with Belgian materials firm Umicore, becoming the latest European automaker to bring battery supplies closer to home in the shift towards electric vehicles. While raw materials - among them lithium, cobalt, nickel and... →
Grim demand outlook pushes copper prices to 2-month low
By: Reuters 26th September 2022 Copper prices dropped to two-month lows on Monday as fears of a global growth slowdown, weaker demand, a higher dollar and climbing stocks in London Metal Exchange (LME) registered warehouses sparked a sell-off. Benchmark copper CMCU3 on the LME was down 0.8% at $7 375 a tonne at 09:45 GMT. →
Saudi Arabia faces challenges to tap its vast copper reserves
By: Bloomberg 26th September 2022 Saudi Arabia says it has the potential to unlock enough copper to ease a looming shortage as the world makes an epic shift to clean energy, but the kingdom faces challenges that established mining countries already have solved. Key among those challenges as the world’s largest oil producer seeks... →
Anglo to begin copper shipments from Quellaveco, tweaks guidance
By: Mariaan Webb 26th September 2022 Diversified major Anglo American on Monday announced the start of commercial operations at its 300 000 t/y copper-equivalent Quellaveco project, in Peru, following the successful testing of operations and final regulatory clearance. The new mine would lift Anglo’s total global output by 10% in... →
South Africans urged to turn exploration into Big Hairy Audacious Goal
By: Martin Creamer 24th September 2022 South Africans have been urged to rally around exploration as this country's Big Hairy Audacious Goal – a BHAG – so that what is described as "our lowest hanging economic fruit" can be turned to positive account. Council for Geoscience CEO Mosa Mabuza, who was speaking in support of the junior... →
New fund-raising product appropriate for junior miners, says JSE
By: Martin Creamer 23rd September 2022 The JSE has a new product that is appropriate for fund-raising by junior mining companies, JSE origination and deals head Sam Mokorosi said on Friday. Mokorosi, who was speaking at Minerals Council South Africa’s Junior and Emerging Miners Desk webinar, highlighted the new product against the... →
Glencore buys Newmont’s stake in Argentina copper/gold project
By: Mariaan Webb 23rd September 2022 Diversified mining company and commodity trader Glencore on Friday announced that it would buy gold miner Newmont’s 18.75% shareholding in the MARA project, in Argentina. Following completion of the transaction, Glencore would own 43.75% of MARA, which is a brownfield project located in the... →
Glencore proposes loans to ensure production at Zambia's Mopani copper mine - letter
By: Reuters 23rd September 2022 Glencore and Zambia's State-owned mining company ZCCM-IH could jointly lend Mopani Copper Mines $200-million to help cover running costs under a proposal made by the global miner last week, a letter seen by Reuters showed. Glencore, which owned Mopani until March 2021, is prepared to lend up to... →
Copper prices averaging lower than expected this year, but major uptick looms
By: Marleny Arnoldi 23rd September 2022 Research agency Fitch Solutions Country Risk & Industry Research has revised downward its copper price forecast for this year to about $8 800/t, down from $9 470/t it anticipated previously. The agency says investor sentiment for copper has been weakening, as has demand for the base metal, in... →
SSR restarts Ҫopler
By: Esmarie Iannucci 23rd September 2022 US-based SSR Mining will restart operations at its Ҫӧpler mine, in Turkey, after receiving the required regulatory approvals from the Turkish government. The company in June this year temporarily suspended operations at the mine following a cyanide spill. →
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