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Copper News

China to churn out more copper metal

6th February 2002 Most of China’s key copper smelters are planning to churn out more refined metal in 2002 and some are gearing up for expansion as world prices rebound, industry analysts said. 

World Bank to salvage Konkola

4th February 2002 The World Bank said it was ready to find cash so Zambia could save mines owned by Anglo American from closure if the mining giant pulls out of the country. 

Copper co-op to catapult companies globally

By: Keith Campbell     1st February 2002 Brazil's CVRD and Chile's Codelco have signed an MoU for the creation of a 50:50 JV to exploit international opportunities in copper. 

Canadian miner expanding production on Copperbelt

1st February 2002 Canadian mining company First Quantum Minerals’ board of directors has said – following the statement by Zambia Copper Investments (ZCI) regarding its investments in Konkola Copper Mines (KCM) – that the assets and operations of Mopani Copper Mines (MCM) are completely... 

Angry reaction to Anglo's Zambian withdrawal

1st February 2002 Mining giant Anglo American’s decision to strangulate the country by pulling out from Konkola Copper Mines (KCM) makes it easy to sympathise with Robert Mugabe’s style of governance in Zimbabwe, Zambia Alliance for Progress (ZAP) leader Dean Mung’omba has said. 

'Business as usual' at Mopani in Zambia

31st January 2002 Zambia’s Mopani Copper Mines (MCM) said it would meet its production targets for 2001 and 2002 despite a decision by Anglo American to shelve further investments in copper operations in the country. 

Zambia's miners in the doldrums

30th January 2002 Hardened miners admitted to fear and foreboding as Zambia struggled to respond to mining giant Anglo American’s move to abandon the country’s copper industry. 

Technical difficulties force write down of Zambian cobalt project

30th January 2002 South Africa's Anglovaal Mining (Avmin) said it would write down half the value of its Chambishi copper and cobalt assets in Zambia due to technical problems at its plant and weak cobalt prices. 

Canadians eye SA mining giant's Copperbelt assets

28th January 2002 Canadian miner First Quantum Minerals said it would be interested in looking at the Zambian copper assets of Anglo American, which is pulling out of a massive mining venture in the African nation’s Copperbelt. 

Konkola now up for sale or closure

25th January 2002 Following a strategic review, shareholders in Zambia’s Konkola Copper Mines (KCM), one of which is mining giant Anglo American, have made a shock announcement stating that they are considering the sale, transfer or closure of the company. 

Zambia gov says copper mines will not close

25th January 2002 Zambia's government said yesterday that the money-losing Konkola copper mines would not be closed after Anglo American said it was pulling back from its troubled Zambian mining venture. 

Integrated development key to unlocking value

23rd January 2002 Chile’s major copper producer, Codelco, supports the assertion that maximised return on financial assets, as well as shareholder and customer value creation could only be achieved by simultaneously improving financial, social and environmental performance, said president and CEO Juan... 

Copper prices set to rise – survey

10th January 2002 Copper prices are set to maintain a steady upturn in 2002, according to the latest comprehensive poll of analysts in PricewaterhouseCoopers’ quarterly e-journal, Metals Markets Sentiment. 

Konkola hopes to put 2001 troubles behind it

8th January 2002 Zambia’s Konkola Copper Mines (KCM) said it expected copper production to rise to 240 000 tons in 2002 after a year marred by production problems and poor global market conditions. KCM had cut its production estimate for 2001 by 20% to 200 000 tons. COO Robin Mills said in a company report... 

Latest copper production cuts

14th December 2001 The world’s major copper producers are contiuing to seriously curtail their output in a bid to counter weak demand and prop up prices, which recently fell to their lowest levels since 1987. Following is an overview of production cuts in the sector since the beginning of 2001: December 12,... 

Production cuts redressing copper supply/demand imbalance

12th December 2001 Production cuts by miners have altered the copper market’s 2002 outlook, bringing supply and demand close to balance, analysts at broker Macquarie Equities said. 

Zambia's copper comeback not in jeopardy – ZCCM

11th December 2001 A senior official at Zambia Consolidated Copper Mines Investments (ZCCM) says the postponement of a couple of copper-mining projects in the southern African country, partly due to depressed prices, does not signal an end to the regeneration of the industry, which started in the mid-1990s. 

South America's mining giants – when will they move out

10th December 2001 One of the big questions in world mining today is when, where and how South American giants CVRD (Brazil) and Codelco (Chile) go international. It seems CVRD is going into China. 

Zambia's copper comeback not in jeopardy – ZCCM

By: Martin Zhuwakinyu     7th December 2001 A senior official at Zambia Consolidated Copper Mines Investments Holdings (ZCCM) says the postponement of a couple of copper-mining projects in the southern African country, partly due to depressed prices, does not signal an end to the regeneration of the industry, which started in the mid-1990s. 

Project to raise fluorspar output by 50%

7th December 2001 Mid-tier mining group Metorex is completing a multimillion-rand capital programme at its Vergenoeg fluorspar mine, which will see a 50% increase in production over the next three years and which has lifted the recovery rate by 24% to date. 

Chinese firm's copper mine on track for May commissioning

7th December 2001 The Zambian subsidiary of the China Non-Ferrous Metals Corporation said that a $150-million rehabilitaion of its Chambishi mine, which started last year, remained on course with the completion of the first phase. NFC Africa Mining spokesperson Wang Peng told reporters in Lusaka that the firm had... 

Latest copper production cuts

7th December 2001 The world’s major copper producers are contiuing to seriously curtail their output in a bid to counter weak demand and prop up prices, which recently fell to their lowest levels since 1987. Following is an overview of production cuts in the sector since the beginning of 2001: December 5... 

More copper production cuts announced

4th December 2001 The world’s major copper producers have begun to seriously curtail their output in a bid to counter weak demand and prop up prices, which recently fell to their lowest levels since 1987. 

Copper price up on back of more output cuts, Chinese buying

29th November 2001 Asian metals exchange Comex’s copper charged to four-month highs Tuesday morning, fuelled by talk of more production cutbacks and aggressive Chinese buying before the opening bell, trading sources said. 

Now Konkola cuts its output

27th November 2001 Mining giant Anglo American said its Konkola copper-mines (KCM) in Zambia had cut its 2001 production to 200 000 tons from a forecast of 240 000 tons. 

Analysts question longevity of Chinese copper cuts

21st November 2001 Key Chinese copper firms have lifted global copper prices in the past few days with plans to slash output next year, but analysts said that the agreements may unravel if prices stay above $1 500 a ton. 

Copper cuts could help molybdenum

16th November 2001 A wave of output cuts by copper-miners should also help to reduce oversupply of molybdenum in the longer term, but the short-term impact on prices will be slight, traders said. 

A thumbnail of world copper cuts

15th November 2001 The world’s major copper producers have begun seriously to curtail their output in a bid to counter weak demand and prop up prices, which have fallen to their lowest levels since 1987. 

Copper output cuts pave way for recovery

12th November 2001 A wave of output cuts by copper producers has so far had a limited impact on metal prices but is a key element in paving the way for an eventual market recovery when demand picks up, analysts said. 

Alaska copper-gold deal announced

8th November 2001 President and director of Northern Dynasty Minerals Bruce Youngman has announced that the company has acquired the rights to two options granted by Teck Cominco American Incorporated (Cominco) respecting its Pebble property in south-western Alaska. 

Pakistan copper listing delayed

7th November 2001 Plans to list Pakistan’s only copper-mine project on the Alternative Investment Market (AIM) this year are on hold until fighting ends in neighbouring Afghanistan, Mincor Resources said. 

China expected to raise copper output

6th November 2001 China’s main copper smelters are adhering to planned increased outputs this year despite news that major US producer Phelps Dodge is trimming production due to dismal prices, analysts said. 

Zambian copper mine plans to lift ouput

2nd November 2001 Zambia’s Konkola Copper Mines said it would increase copper production in 2002 by 20% from a projected figure of 240 000 tons this year despite a downturn in global prices. 

Decision soon on new Zambian treatment plant

1st November 2001 Canadian miner First Quantum is moving rapidly towards a decision to expand its treatment facilities at Zambia’s Bwana Mkubwa mine to 30 000 tons of copper cathode a year. 

Concentrate deficit to soften copper-treatment costs

30th October 2001 Copper treatment and refining charges are likely to fall in the near term as the concentrate market enters a temporary deficit, said Tony Warwick-Ching, principal consultant: copper at CRU International. 

15-shaft audit at Zambia copper mine

19th October 2001 Detailed technical audits have been carried out on the hoisting infrastructures at the Mopani Copper Mines in Zambia to help the owners increase production from the 15 shafts. 

Konkola Deep project postponed

15th October 2001 The start of the Konkola Deep Mining Project had been deferred due to difficult market conditions and a lack of financing for the project, said Zambia Copper Investments (ZCI). 

New IT system for a mine in Peru

12th October 2001 Mining giant BHP Billiton has installed Modular Mining Systems’ IntelliMine system at its Tintaya mine in Peru. 

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