R/€ = 18.51 Change: -0.07
R/$ = 15.15 Change: 0.00
Au 1854.12 $/oz Change: -8.62
Pt 1098.73 $/oz Change: -11.16

Copper News

Tulu Kapi financing on track; drilling commences at Hawiah

By: Donna Slater     Updated 6 hours ago Aim-listed gold and copper explorer and developer Kefi Minerals reports that financing for its Ethiopia-based flagship Tulu Kapi gold project remains on track, with the project finance consortium expecting to achieve financial close in March. Production is expected to start in the fourth quarter... 

Orion Minerals starts 2021 on a positive note following encouraging drilling results 

By: Simone Liedtke     25th January 2021 Dual-listed Orion Minerals has started 2021 on a positive note with an encouraging set of results from its high-impact exploration drilling programmes targeting near-mine and regional volcanogenic massive sulphide (VMS) copper/zinc and nickel/copper targets around its flagship Prieska copper/zinc... 

Deep-South ‘well-funded’ to continue development of Namibian copper project

By: Simone Liedtke     22nd January 2021 TSX-V-listed Deep-South Resources has closed its nonbrokered private placement for $4.6-million. President and CEO Pierre Leveille commented on the strong demand, which led to the financing, and confirmed that the company had recently completed a preliminary economic assessment. 

Australia's MMG CEO sees short term upside momentum for copper

By: Reuters     22nd January 2021 Copper prices are likely to rise further after pushing above $8 000/t this month, supported by China's strong economy and government stimulus efforts after the Covid-19 pandemic, the head of Hong Kong-listed MMG Ltd said on Friday. Prices of copper have nearly doubled from last year's lows and... 

Developer of Alaska's Pebble mine files appeal over permit rejection

By: Reuters     22nd January 2021 Diversified Canadian miner Northern Dynasty Minerals said on Thursday its US subsidiary Pebble Limited Partnership has filed an appeal with the US Army Corps of Engineers (USACE) over its decision to deny a key water permit for the contentious Pebble mine, in Alaska. The USACE denied the Clean... 

Developer of Alaska's Pebble mine files appeal over permit rejection
Pebble Mine Partnership CEO John Shively

'The bucket is leaking': Zambia opposition leader denounces debt-funded Mopani deal

By: Reuters     22nd January 2021 Zambia's main opposition party leader Hakainde Hichilema criticised the government's deal with Glencore on Thursday, comparing the economy to a leaky bucket broken by debt. The state mining investment arm ZCCM-IH agreed on Tuesday to take on $1.5-billion in debt in exchange for full control of... 

Global copper smelting rises in December, driven by China

By: Reuters     21st January 2021 Global copper smelting activity climbed in December, led by top producer China, while North America extended its decline as coronavirus cases surged, data from satellite surveillance of copper plants showed. Europe dipped slightly, but its copper smelting activity remained strong, satellite... 

Xtract raises £5m for exploration, project development

By: Simone Liedtke     21st January 2021 Brownfield mine developer Xtract Resources’ broker, Novum Securities, has conditionally raised £5-million, before expenses, following the placement of over 111-million ordinary shares. The placing shares represent 17.9% of the current issued ordinary share capital of Xtract. 

Nagorno Karabakh ceasefire opens region for Anglo Asian to possibly return to projects

By: Donna Slater     21st January 2021 Aim-listed central Asia gold, copper and silver producer Anglo Asian Mining welcomes the agreement between Armenia, Azerbaijan and Russia which has ended the military conflict over the enclave of Nagorno Karabakh, subsequently opening up the region for the miner to restore its three contract... 

Lundin continues improvement trend in 2020

By: Simone Liedtke     21st January 2021 Diversified Canadian base metals miner Lundin Mining met its production guidance for all metals for the 2020 financial year, ended December 31, with copper production standing out at 230 781 t. Gold production exceeded guidance, reaching 163 000 oz. 

Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction

By: Reuters     21st January 2021 Zambia's mining investment arm ZCCM-IH said it expects to find a new investor for Mopani Copper Mines by the end of the year, as the International Monetary Fund looks into Zambia's deal with Glencore, Mopani's majority stakeholder. Zambia became Africa's first pandemic-era sovereign default in... 

Copper output may suffer if pandemic drags on, Chile group says

By: Bloomberg     21st January 2021 Top copper producer Chile managed to navigate the pandemic disruptions that stalled mining in other countries, churning out more metal last year than in 2019. That helped keep Chinese refineries supplied at a time of market tightness and high prices. But while Chile is well prepared to operate... 

Copper output may suffer if pandemic drags on, Chile group says

Copper mineralisation found through 940 m of first-hole drilling at Bushranger

By: Donna Slater     20th January 2021 Drilling of the first of three holes at Xtract Resources’ Bushranger copper/gold exploration project, in Australia, has thus far found copper mineralisation at a depth of 110 m, with mineralisation continuing over a 940 m interval to about 1 050 m depth, 235 m past the original planned finishing... 

Los Pelambres expansion to cost extra $400m, says Antofagasta

By: Mariaan Webb     20th January 2021 Chile copper miner Antofagasta has revised the capital cost estimate for its Los Pelambres expansion project to $1.7-billion, from the original guidance of $1.3-million, mainly owing to revised marine works. The project, which will add about 60 000 t/y to the mine’s production, will be completed... 

Los Pelambres expansion to cost extra $400m, says Antofagasta
Los Pelambres

China's imports of Australian copper ore crash to zero in December

By: Reuters     20th January 2021 China's imports of copper concentrate from Australia dried up completely in December, customs data showed on Wednesday, as smelters shunned Australian supply amid tense bilateral ties. Imports of copper ores and concentrates from Australia were zero tonnes last month, according to General... 

China's imports of Australian copper ore crash to zero in December

Mather steps down as SolGold CEO

By: Mariaan Webb     19th January 2021 Gold and copper miner SolGold on Tuesday announced that Nick Mather would step down as CEO, after 13 years at the helm of the Ecuador-focused company. His resignation comes a month after Mather was handed a strong rebuke at the company’s annual meeting, when nearly half (44.7%) of shareholders... 

Mather steps down as SolGold CEO
SolGold's Nick Mather will retire as CEO

ZCCM to buy Glencore’s stake in Mopani

By: Marleny Arnoldi     19th January 2021 Diversified miner Glencore’s subsidiary Carlisa Investments Corporation has signed an agreement with ZCCM Investments Holding to transfer its 90% interest in Mopani Copper Mines to ZCCM for $1 and the transaction debt of $1.5-billion. Zambian State-owned mining investment company ZCCM already... 

ZCCM to buy Glencore’s stake in Mopani
Photo by Bloomberg
A Mopani Copper Mines operation in Zambia

Turquoise Hill takes issue with Rio Tinto’s undercut criteria

By: Mariaan Webb     19th January 2021 Canada-listed project developer Turquoise Hill said on Monday that it was engaging with major shareholder Rio Tinto over its criteria for caving operations at the Oyu Tolgoi underground project, in Mongolia, stating that it did not believe the nontechnical specifications were necessary. “The... 

Turquoise Hill takes issue with Rio Tinto’s undercut criteria

Ivanhoe Mines' Friedland taking 'hard look' at US projects

By: Reuters     19th January 2021 Ivanhoe Mines founder Robert Friedland said on Monday he is taking a "hard look" at projects in the United States amid a global rush for green metals. US President-elect Joe Biden has indicated support boosting domestic production of metals used to make electric vehicles, solar panels and other... 

Ivanhoe Mines' Friedland taking 'hard look' at US projects
Ivanhoe Mines finder Robert Friedland

Company services Zambian smelters remotely, eyes expansion

By: Cameron Mackay     19th January 2021 Local foundry company Thos Begbie opened a workshop in Solwezi, Zambia, in March last year to supply and service copper smelters in the region more efficiently; however, the impact of Covid-19 has forced the company to close its workshop indefinitely. “There has been a drastic decrease in... 

Company services Zambian smelters remotely, eyes expansion
ALEX NHLAPO As the demand for copper increases, pressure is placed on the smelters and refineries to increase their production output

Xtract progresses with Phase 1 drilling at Bushranger project

By: Marleny Arnoldi     18th January 2021 London-listed Xtract Resources has progressed well with the first of three holes in a Phase 1 drilling programme at the Racecourse deposit on the Bushranger copper/gold exploration project, in the Lachlan Fold Belt of Australia. The company says drilling has progressed to a depth of 975 m in... 

Outgoing Trump admin OKs land swap for Rio Tinto's Arizona copper mine

By: Reuters     18th January 2021 US President Donald Trump's outgoing administration approved a land swap on Friday for a Rio Tinto copper mine in Arizona that would boost domestic production of the red metal but destroy sites sacred to Native Americans. The US Forest Service published an environmental impact statement for the... 

Outgoing Trump admin OKs land swap for Rio Tinto's Arizona copper mine

Metal prices to ease in coming months, says Fitch Solutions

By: Tasneem Bulbulia     18th January 2021 The ongoing base metal rally has run its course and prices will ease in the coming months, especially in the case of copper, reports Fitch Solutions Country Risk and Industry Research. It says copper prices could head back to 2018 levels, at about $7 300/t. 

Jubilee secures new investment

By: Marleny Arnoldi     15th January 2021 Aim- and AltX-listed Jubilee Metals has secured investment from two blue chip institutions, including one new to its share register. The company on January 15 announced a placing of new and existing ordinary shares representing 4.96% of the enlarged issued share capital of the company to meet... 

Bluejay and Rio Tinto finalise Enonkoski JV conditions

By: Donna Slater     15th January 2021 The remaining conditions of a joint-venture (JV) and earn-in agreement between Aim- and FSE-listed exploration and development company Bluejay Mining and Rio Tinto Mining and Exploration, for the Enonkoski project have been met. Announced on November 10, 2020, the JV and earn-in agreement has... 

Metals behind EV revolution to resume volatile rally - again

By: Bloomberg     15th January 2021 Battery metals are set to rebound this year as an electric-vehicle boom is bolstered by post-pandemic push for a green economic recovery. US President-elect Joe Biden has indicated the sector could get a boost, while China wants new energy vehicles to account for about 20% of total new car sales... 

Metals behind EV revolution to resume volatile rally - again

Judge denies Native American request to block study linked to Rio copper mine

By: Reuters     15th January 2021 A US judge on Thursday denied a request by Native Americans to block the Trump administration from publishing an environmental study that would trigger a land swap needed by Rio Tinto to build a copper mine in Arizona. The ruling is a blow to the San Carlos Apache tribe and others who have long... 

Judge denies Native American request to block study linked to Rio copper mine
A view of the future block cave mine planned by Rio Tinto in the Tonto National Forest near Superior, Arizona.

Codelco to ratchet up precautionary measures as Covid-19 cases rise

By: Reuters     15th January 2021 Chile's State-owned Codelco, the world's largest copper producer, said on Thursday it would once again ratchet up precautionary measures against the coronavirus at its mines amid a recent uptick in infections in the South American nation. The measures, which include a reduction in personnel,... 

Codelco to ratchet up precautionary measures as Covid-19 cases rise

Doubts cloud BHP's Cerro Colorado mine after Chilean court ruling

By: Reuters     15th January 2021 The operations of global miner BHP's Cerro Colorado copper mine in water-parched northern Chile have been thrown into doubt after the country's Supreme Court upheld local indigenous communities' complaint about the project's water use. The court ruled late on Wednesday night that a routine... 

Atalaya achieves new production record

By: Simone Liedtke     14th January 2021 Dual-listed Atalaya Mining has achieved a new production record of 55 890 t of copper in 2020, with the year’s guidance met, notwithstanding the operating challenges and mandatory stopping in April as a result of Covid-19 restrictions. Copper production in the fourth quarter exceeded the guidance... 

Jubilee reports record earnings of £28m

By: Marleny Arnoldi     14th January 2021 Aim- and AltX-listed Jubilee Metals’ operational earnings for the second half of last year increased by a record 123% to £28.4-million, compared with the first half of the year. In rand terms, it was a 126% increase to R603-million between the two six-month periods.  

Pembridge makes Minto Explorations management changes

By: Donna Slater     14th January 2021 LSE-listed copper, gold and silver miner Pembridge Resources has appointed a new president, Christopher Stewart, and interim CFO, Jack Cartmel, for its exploration division, Minto Explorations. The decision was made to bring in-house all the senior management positions in line with the... 

Kazakh mining startup Battery Metals seeks Hong Kong listing

By: Reuters     14th January 2021 Battery Metals Technologies, a Kazakhstan-based nickel and cobalt mining company, plans to raise funds through an initial public offering and list in Hong Kong, the firm told Reuters. The company said on Thursday it plans to develop the Gornostayevskoye deposit located close to the... 

KAZ investor pushes board to scrap $2.4bn buyout

By: Bloomberg     14th January 2021 One of KAZ Minerals’ top investors is pushing its board to scrap a proposed £1.8-billion buyout from the Kazakh copper miner’s chairman. The deal process should be terminated, as it’s “inconceivable” that minority investors will accept the offer of 640p per share, RWC Partners wrote in a letter... 

Indebted Zambia pays $400m in VAT refunds to mining firms

By: Reuters     13th January 2021 Zambia paid 8.5-billion kwacha ($400-million) in value-added tax refunds to mining companies last year, the head of the tax authority said on Wednesday, equal to about 3.5% of the external debt that the southern African country is struggling to repay. Zambia, Africa’s second-largest copper... 

Los Andes testwork further enhances Vizcachitas economics

By: Marleny Arnoldi     13th January 2021 TSX-listed Los Andes Copper has announced that it will be able to increase its copper and molybdenum recoveries from the Vizcachitas project, in Chile, after it managed to optimise rougher flotation conditions during metallurgical testwork. The testwork forms part of the ongoing prefeasibility... 

Cornish Metals intends to float on London’s Aim market

By: Donna Slater     13th January 2021 Copper and tin miner Cornish Metals, which is currently listed on the TSX-V, has announced plans to list on the Aim market of the London Stock Exchange in February. The proceeds of the fundraising will be used to conduct an 8 000 m drill programme at its copper and tin project in Cornwall, in the... 

Nevada Copper reports strong investor demand in offering

By: Creamer Media Reporter      13th January 2021 Toronto-listed Nevada Copper has upsized its bought-deal public offering following strong investor demand. The company on Monday announced a C$21.5-million offering to bolster its balance sheet to complete the ramp-up of its Pumpkin Hollow underground project, in the US, but on Tuesday increased... 

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