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Copper News

Ivanhoe speeds ahead with Kakula underground, plant development

By: Marleny Arnoldi     Updated 2 hours 45 minutes ago TSX-listed Ivanhoe Mines continues to progress ahead of schedule with underground development of the Kakula copper mine, in the Democratic Republic of Congo (DRC). The company, together with its joint venture (JV) partner Zijin Mining Group, has completed more than 17 km of underground... 

Power Metal raises £1m to accelerate exploration

By: Schalk Burger     Updated 2 hours 52 minutes ago Aim-listed metals exploration and development company Power Metal Resources has raised £1-million to accelerate exploration across its portfolio of projects and to commercialise select project interests. The funds raised will increase the available working capital (cash and listed financial... 

Minerals Council regrets delay of 2018 Mining Charter review 

By: Martin Creamer     Updated 3 hours ago Minerals Council South Africa on Monday expressed regret that the finalisation of the review of the contested elements of the 2018 Mining Charter had been delayed following a judgement of the full bench of the High Court in Pretoria ordering that a number of other parties be joined to the action.... 

Minerals Council regrets delay of 2018 Mining Charter review
Photo by Creamer Media
Minerals Council South Africa.

Copper poised to maintain upward price trajectory, says ERG CEO

By: Simone Liedtke     Updated 5 hours ago Diversified miner Eurasian Resources Group (ERG) says the unprecedented levels of stimulus across the world are set to sustain the recovery in copper demand in the longer term, with the supply impact of the Covid-19 pandemic expected to extend beyond this year. Growth drivers include the digital... 

Displacement continuing at copper mine where openpit give way is imminent 

By: Martin Creamer     6th July 2020 Vertical and horizontal displacement is continuing at the Nchanga Open Pit Cut 2 in Chingola in Zambia, where geo-technical assessments point to an imminent collapse of a portion of the open pit – but the anticipated slough had not happened by late Sunday when Mining Weekly spoke by phone to... 

Displacement continuing at copper mine where openpit give way is imminent
Photo by Creamer Media
Konkola Copper Mines CEO Chris Sheppard.

Congo mines minister to meet with firms on confinement moratorium

By: Reuters     5th July 2020 Democratic Republic of Congo mines minister Willy Kitobo Samsoni plans to meet with mining companies to agree a moratorium on confining workers to mine sites due to the coronavirus. Civil society groups last month demanded an end to mandatory mine-site confinement policies put in place by copper... 

Power Metal progresses with Kisinka exploration

By: Donna Slater     3rd July 2020 Metal explorer and developer Power Metal Resources (Power Metal) has completed most elements of the follow-up programme at the Kisinka project in the Democratic Republic of Congo, including pitting and mapping. Laboratory analysis will, however, only be possible after air cargo routes reopen.  

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Chile copper production at risk as coronavirus bites

By: Reuters     3rd July 2020 Chile's vaunted copper industry is nearing a tipping point as coronavirus explodes across the South American nation, mine workers and analysts say, laying bare the hidden costs of policies that have until now salvaged its output of the red metal. Since early April leading miners, including... 

Chile copper production at risk as coronavirus bites

Vedanta's Zambia copper unit warns part of Nchanga openpit mine about to collapse 

By: Reuters     3rd July 2020 Zambia's Konkola Copper Mines (KCM), a unit of diversified miner Vedanta Resources, has closed part of its openpit mine as a portion of the pit is about to collapse, the chief executive officer said late on Thursday. KCM predicted that part of the Nchanga Open Pit in Chingola in Zambia's... 

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Lithium feeling pandemic pinch

By: Theresa Bhowan     3rd July 2020 The lithium market is declining as a direct result of electric vehicle (EV) plans being pushed back and EV production plummeting, says international commodities consultancy Core Consultants. 

Lithium feeling pandemic pinch
ON HOLD South America contains 61% of global lithium reserves and is feeling the effects of the decline in the commodities performance

World top copper producer Chile keeps output steady in May even as coronavirus explodes

By: Reuters     2nd July 2020 World top copper producer Chile held its production of copper steady in May versus the previous year even as the coronavirus outbreak exploded in the South American nation, according to data released on Thursday by State copper agency Cochilco. The fast-spreading pandemic in Chile has rattled... 

World top copper producer Chile keeps output steady in May even as coronavirus explodes
Spence is a copper mine located in the Atacama desert, in the north of Chile.

Codelco warns more restrictions on copper mines would be 'catastrophic' - report

By: Reuters     2nd July 2020 Chile's State-run Codelco, the world´s top copper producer, warned on Thursday any move to ramp up restrictions on its mines amid the coronavirus outbreak would be "catastrophic" for the country, the company´s chief executive said in an interview in a local daily newspaper. CEO Octavio Araneda... 

Teck Namibia to potentially gain 26.9% interest in Deep-South

By: Tasneem Bulbulia     2nd July 2020 TSX-listed Deep-South Resources and Teck Namibia, a wholly owned subsidiary of Teck Resources, have agreed to amend the sale agreement of February 2017, whereby Deep-South acquired Teck’s interest in the Haib Copper project, in Namibia. The sale agreement stipulated that Deep-South make cash... 

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

Tritton beats full-year guidance

By: Esmarie Iannucci     2nd July 2020 The Tritton copper project, in New South Wales, has beaten production expectations for the 2020 financial year, ASX-listed Aeris Resources said on Thursday. The company noted that production for the full year reached 25 041 t, which was some 2% above the guidance of between 23 500 t and 24 500... 

Metals X looking for copper buyer

By: Esmarie Iannucci     2nd July 2020 ASX-listed Metals X has announced plans to divest of its entire copper asset portfolio, including the Nifty and Maroochydore copper projects, and the Paterson exploration project. Metals X on Thursday said that issues with shareholder APAC Resources Strategic Holdings, which demanded the removal... 

Metals X looking for copper buyer

BHP scales back Cerro Colorado copper mine

By: Mariaan Webb     1st July 2020 Global miner BHP is scaling back its operations at Cerro Colorado, in Chile, with resizing measures to be implemented over the next four months. These measures will result in a reduced headcount and the company has started discussions with employees and contractors. The adjusted mine plan will... 

BHP scales back Cerro Colorado copper mine
Photo by Flicker/Gabri Solera
Cerro Colorado

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Platinum group metals in pole position to benefit from global decarbonisation thrust
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kefi Minerals to change name, updates Tulu Kapi economics given higher gold price

By: Marleny Arnoldi     30th June 2020 Aim-listed Kefi Minerals has announced it will host its annual general meeting virtually on August 13. The meeting will discuss a name-change of the company to Kefi Gold and Copper, to reinforce the company’s mission in those metals, given the discoveries that the company has made in the last... 

Crisis Group suggests DRC govt, miners zone land for artisanal mining

By: Marleny Arnoldi     30th June 2020 Transnational nonprofit organisation Crisis Group says tensions continue to build in the Democratic Republic of Congo’s (DRC’s) mining heartland between industrial and artisanal miners. The organisation highlights in its latest report, titled 'Mineral Concessions: Avoiding Conflict in DRC’s... 

Copper heads for best quarter since 2010 as supply worries mount

By: Bloomberg     29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... 

Copper heads for best quarter since 2010 as supply worries mount

Copper deposit discovery rate remains dismal, says S&P

By: Tasneem Bulbulia     29th June 2020 Of the nearly 1.08-billion tonnes of copper resources discovered since 1990, only 8% is contained in deposits discovered in the past decade, a report published by S&P Global Market Intelligence shows. The report outlines that 224 copper deposits have been discovered between 1990 and 2019 period,... 

House Democrats will call for 100% clean cars by 2035

By: Bloomberg     29th June 2020 House Democrats on Tuesday will issue an ambitious plan to combat climate change, a move intended to reassure their base of supporters but that’s sure to inflame opponents on the right. The proposal will be released at an event at the US Capitol with Speaker Nancy Pelosi and several other... 

Trident acquires royalty over Zambian copper mine

By: Schalk Burger     29th June 2020 Aim-listed Trident Resources has acquired a gross revenue royalty (GRR) over production from Moxico Resources' Mimbula copper mine, in Zambia, as well as over associated stockpiles, for $5-million in cash. Trident is entitled to royalty payments on production starting from July 1 and extending in... 

Increased continued loan support for Orion confirmed 

By: Martin Creamer     29th June 2020 Private equity group Tembo Capital Mining Fund II LP on Monday confirmed its increased continued support of Orion Minerals through a loan facility boost. The Sydney- and Johannesburg-listed Orion is developing the Prieska copper-and-zinc project in the Northern Cape. 

Increased continued loan support for Orion confirmed
Orion is developing the Prieska copper-and-zinc project in the Northern Cape.

Oyu Tolgoi power deal signed

By: Esmarie Iannucci     29th June 2020 The government of Mongolia and copper miner Turquoise Hill have reached an agreement on the preferred domestic power solution for the Oyu Tolgoi copper project, paving the way for the government to fund and construct a state owned power plant at Tavan Tolgoi. The agreement, which is a revision... 

Oyu Tolgoi power deal signed

More copper workers are falling ill in the world’s top producer

By: Bloomberg     27th June 2020 The latest tally of Covid-19 cases among Codelco workers shows why the world’s biggest copper producer is stepping up measures to contain the spread. Of the state-owned company’s 71 000 total workforce, 1 951 people have been diagnosed with the disease, according to data compiled by the... 

More copper workers are falling ill in the world’s top producer

Congo president wins approval for nominees at state mining company

By: Reuters     26th June 2020 Democratic Republic of Congo President Felix Tshisekedi won approval on Friday for his nominations to lead state mining company Gecamines, its chairman said, after they were held up by allies of Tshisekedi's predecessor for over a year. The approval from the public portfolio ministry could allow... 

Jervois commences high-prospect drilling programme in Uganda

By: Donna Slater     26th June 2020 TSX-listed nickel and copper miner and explorer Jervois Mining is planning to drill at its Kilembe area properties in western Uganda, to test a target with high-grade copper/gold rock chip samples and a coincidental gold in soil anomaly. The CC target is undrilled and contains some of the... 

Codelco halts Chuquicamata smelter and refinery amid coronavirus

By: Reuters     26th June 2020 Chilean copper miner Codelco said on Thursday it was suspending refinery and foundry operations at its sprawling Chuquicamata division to prevent further spread of the new coronavirus. The world's biggest copper miner said in a statement that the measure was "transitory" in nature and aimed at... 

Chile's environmental watchdog hits Codelco with mining waste pollution claims

By: Reuters     26th June 2020 Chile's environmental regulator on Thursday said it had filed charges against State mining company Codelco over a 2016 tailings spill and river and estuary contamination at its Andina mine in a mountainous region near the capital Santiago. The Environmental Superintendent (SMA) said it had... 

Chilean copper miner Codelco hit by third Covid-19 death

By: Reuters     25th June 2020 Chilean state miner Codelco, the world's largest copper producer, on Wednesday reported the death of a third worker who had contracted the new coronavirus. The death will pile further pressure on the country`s economically key copper mining industry as unions seek greater protection for... 

DRC copper project advances with Covid-19-influenced prefeasibility study

By: Donna Slater     24th June 2020 With a prefeasibility study (PFS) already under way, Central Copper Resources has started to develop its first mining project − the Mbamba Kilenda (MK) copper project − in a new copper province in the Democratic Republic of the Congo (DRC). The MK project is located on the western side of the... 

Fitch Solutions maintains copper price forecast as economies start to reopen

By: Donna Slater     24th June 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) has maintained its forecast for copper prices at an average of $5 900/t as it expects its previous expectation of stimulus from the Chinese government to play out and... 

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