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Copper News

Codelco says 40% of its copper output at risk if glacier bill passes -media

By: Reuters     24th May 2021 Chile's State-run Codelco, the world's largest copper producer, said in a letter to lawmakers this week that as much as 40% of its copper output is at risk if a bill that limits mine operations near glaciers advances, according to a report in local daily El Mercurio. The letter, sent by Codelco... 

Geological interpretation highlights high-priority targets at Okiep

By: Tasneem Bulbulia     21st May 2021 Dual-listed Orion Minerals has identified new high-priority drill targets on the Carolusberg – Koperberg complex that form part of the Okiep copper project (OCP), in South Africa’s Northern Cape. The Carolusberg – Koperberg line was first discovered in 1680 and subsequent workings have been... 

Fujimori looks to speed up projects to tap copper riches in Peru

By: Bloomberg     21st May 2021 Peruvian presidential candidate Keiko Fujimori would support energy and mining projects if elected, a campaign adviser said, drawing a stark contrast with her left-wing rival. Her government wouldn’t seek to renegotiate contracts at the Camisea gas deposit and would push for the go-ahead of the... 

Peru Presidential candidate Keiko Fujimori
Peru Presidential candidate Keiko Fujimori

The great commodities boom of 2021 is facing its first big test

By: Bloomberg     21st May 2021 One of the biggest commodities booms in decades is looking for a fresh reason to power higher. Markets from copper to oil to corn surged recently as monetary stimulus and a recovery from the pandemic tightened supplies, fueling a debate about whether raw materials are in a new supercycle. But the... 

Codelco says its copper is 100% traceable amid sustainability drive

By: Reuters     21st May 2021 Chile's State-run Codelco, the world's largest copper producer, said on Thursday its product was now 100% traceable, a key step as the sprawling miner pushes to reduce its carbon footprint and boost sustainability within its operations. CEO Octavio Araneda said in a web seminar that tracing... 

Codelco says its copper is 100% traceable amid sustainability drive

BHP commits to copper exploration in the NT

By: Esmarie Iannucci     21st May 2021 Mining major BHP has exercised its option to enter into a A$22-million farm-in agreement with junior Encounter Resources over the Elliott copper project, in the Northern Territory. Under the terms of a farm-in agreement, the major can earn up to a 75% stake in the project by spending... 

Future growth of juniors a growing possibility

By: Anna Moross     21st May 2021 Through support and its involvement in policy, mining industry employers’ organisation Minerals Council South Africa has contributed significantly over the past year to ensure the future growth of and investment in junior mining, says Minerals Council South Africa Junior and Emerging Miners’ Desk... 

GRANT MITCHELL
Minerals Council South Africa highlights challenges that need to be overcome to ensure a positive mining cycle
GRANT MITCHELL Minerals Council South Africa highlights challenges that need to be overcome to ensure a positive mining cycle

Junior makes diamond discovery

By: Anna Moross     21st May 2021 Diamond exploration and development company Botswana Diamonds has “moved the dial” in its exploration of the Frischgewaagt area in Limpopo where it has extended its search for kimberlite pipes or blows, says Botswana Diamonds CEO James Campbell. 

CORE SITE 
The goal in this exploration by Botswana Diamonds is to firm up the geological model of both sites, with further work based on the results of the core drilling
CORE SITE The goal in this exploration by Botswana Diamonds is to firm up the geological model of both sites, with further work based on the results of the core drilling

Provider to supply tech to Botswana project

21st May 2021 Mining technology and service provider Metso Outotec has signed a contract to deliver all of the main process technologies for TSX-listed mining and exploration company Sandfire Resources’ flagship Motheo copper/silver concentrator in Botswana. 

Organisers expect virtual success to continue

By: Anna Moross     21st May 2021 The Junior Indaba will be held virtually on June 1 and 2, owing to the continuing impact of Covid-19, with Joburg Indaba organisers Resources 4 Africa stating that the transition to the online platform has been “surprisingly smooth”, says CEO Paula Munsie. 

PAULA MUNSIE
The Junior Indaba is delighted to have 11 showcase presentations featuring a variety of junior projects across Africa
PAULA MUNSIE The Junior Indaba is delighted to have 11 showcase presentations featuring a variety of junior projects across Africa

Climate is global issue that exceeds anything seen in centuries – Anglo   

By: Martin Creamer     20th May 2021 Recent generations have defined the environment as a critical issue for humanity and climate change represents a new and sharper focus that exceeds any single global issue that we have seen in centuries, Anglo American CEO Mark Cutifani has told the Bank of America Securities Global Metals,... 

Mark Cutifani with chart showing thin slither at the top representing mining's 0.04% global footprint.
Mark Cutifani with chart showing thin slither at the top representing mining's 0.04% global footprint.

Cochilco revises copper price to $4.30 on expected deficit

By: Reuters     20th May 2021 Chile’s Cochilco copper commission said on Wednesday that it was significantly raising its projection for the price of copper this year to $4.30/lb. In January, Cochilco had forecast a price of $3.30 for 2021, but said it was updating its projection because of expectations of a short-term... 

McIlvenna Bay now a carbon-neutral copper project

By: Mariaan Webb     20th May 2021 The McIlvenna Bay base and precious metals project, in Canada, is leading the copper development project pack by achieving its carbon-neutral status. TSX-V-listed Foran Mining announced this week that it had completed carbon offset purchase to offset emissions from exploration activities... 

McIlvenna Bay now a carbon-neutral copper project

Deep-South appoints Csiro to conduct bio-assisted heap leaching test work

By: Tasneem Bulbulia     19th May 2021 TSX-listed Deep-South Resources has appointed the Commonwealth Scientific and Industrial Research Organisation (Csiro) to conduct bio-assisted heap leaching column test work, which is part of the company’s recently announced metallurgical test work for its Haib copper project, in Namibia. METS... 

Hire jobless geologists to capture much-needed exploration data – LEI   

By: Martin Creamer     19th May 2021 A strong call for unemployed geology graduates to be contracted to capture historic exploration data electronically has been made by Letaba Elihle Investments (LEI) principal geology consultant Siphelele (Siphe) Ntshangase. In a Zoom interview with Mining Weekly Ntshangase also called on South... 

LEI Principal Geology Consultant Siphelele (Siphe) Ntshangase
LEI Principal Geology Consultant Siphelele Ntshangase interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

China says it will stabilise commodity market, step up trade and stockpiling adjustment

By: Reuters     19th May 2021 China will strengthen management of both supply and demand sides to curb "unreasonable" increases in commodity prices and prevent the pass-through to consumers, the country's cabinet said on Wednesday, according to a report by state broadcaster CCTV. Prices for commodities such as steel,... 

China says it will stabilise commodity market, step up trade and stockpiling adjustment

Imperial Metals announces C$60m rights offering

By: Creamer Media Reporter      19th May 2021 Vancouver-based Imperial Metals has announced a C$60.2-million rights offering, the proceeds of which will be used to fund work at the Red Chris mine, in British Columbia, and to repay short-term debt. Imperial will issue rights to subscribe for 12.85-million common shares at C$4.70 each.... 

Billionaire miner Lundin looks to Argentina just as Chile outlook dims

By: Bloomberg     19th May 2021 In a sign of South America’s shifting political winds, a billionaire mining clan is holding off on new investments in Chile because of country risk while looking to move forward with a huge spend in Argentina. Lundin Mining, which recently spent $1-billion upgrading its copper operation in... 

Lundin Mining's Candelaria operation, in Chile. The group is holding off new investments in that country because of risk.
Lundin Mining's Candelaria operation, in Chile. The group is holding off new investments in that country because of risk.

Teck sees little risk of higher taxes in copper producer Chile - CEO

By: Reuters     19th May 2021 Canada’s Teck Resources sees little risk of higher taxes in copper powerhouse Chile due to a stability agreement that shields the company's massive Quebrada Blanca Phase 2 copper project from higher levies for 15 years, CEO Don Lindsay said on Tuesday. Chile's lower house this month approved a... 

Teck CEO Don Lindsay
Teck CEO Don Lindsay

Rio Tinto invests C$25.6m in Canadian copper junior

By: Mariaan Webb     18th May 2021 The share price of Toronto-listed Western Copper and Gold surged 24% on Monday, after the company announced a C$25.6-million strategic investment by Rio Tinto Canada to advance its Casino project in the Yukon. Rio Tinto has agreed to subscribe for, and purchase, 11.8-million shares at C$2.17... 

Politics are turning against copper mining in top producer Chile

By: Bloomberg     18th May 2021 Chilean copper mining is facing its biggest regulatory threat since the industry took off more than three decades ago. Triggered by the worst social unrest in a generation, Chile just elected an assembly that places the writing of a new constitution largely in the hands of the left wing, with... 

Politics are turning against copper mining in top producer Chile

Copper resumes gains as supply risks, China demand buoy outlook

By: Reuters     17th May 2021 Copper rebounded after its first weekly loss in six on concerns about disruptions to supply in Chile and as Chinese demand showed signs of picking up. Workers at BHP Group’s remote operations center in Santiago rejected the company’s final wage offer, with almost 97% of the union’s members... 

Copper resumes gains as supply risks, China demand buoy outlook

Ivanhoe, DRC utility partner to deliver hydropower for Kamoa mine

By: Creamer Media Reporter      17th May 2021 To support the continued successful performance of the Kamoa mining complex, Ivanhoe Mines Energy DRC, a sister company of Kamoa Copper, has announced the signing of a memorandum of understanding to establish a public-private partnership (PPP) with the Democratic Republic of the Congo's (DRC’s)... 

The world economy is suddenly running low on everything

By: Bloomberg     17th May 2021 A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive... 

Local consortium proposes to develop Pakistan copper and gold mine after arbitration case

By: Reuters     17th May 2021 A local consortium has made a proposal to develop a major copper and gold mine in southwest Pakistan after a court decision blocked the mine's development by a joint venture between Chile’s Antofagasta and Canada’s Barrick Gold. Pakistan's Supreme Court blocked the joint venture, Tethyan Copper,... 

New technologies transforming mining, metals industry – ICMM 

By: Martin Creamer     14th May 2021 New technologies are transforming the mining and metals industry, making it cleaner and safer, says the International Council on Mining and Metals (ICMM), which is progressing an 'innovation for cleaner, safer vehicles' initiative. The initiative brings together 28 of the world’s leading mining... 

An innovation for cleaner, safer vehicles initiative has been introduced.
An innovation for cleaner, safer vehicles initiative has been introduced.

Deep-South appoints Knight Piésold for Haib scoping studies, assessments

By: Donna Slater     14th May 2021 TSX-V-listed minerals explorer and developer Deep-South Resources has appointed engineering and environmental consulting firm Knight Piésold Consulting to conduct scoping studies and assessments on the Haib copper project, in Namibia. Knight Piésold, with an office in Namibia since 2008, has... 

Top copper producers’ output to bounce back this year, forecasts GlobalData

By: Donna Slater     14th May 2021 Production from the world’s top ten copper mining companies decreased in 2020, albeit by a marginal 0.2% to 11.76-million tonnes, with the key disruptors being reduced operational workforces as a result of Covid-19 measures, lower ore grades and production halts owing to maintenance, data and... 

Einhorn touts Teck Resources with copper rally enduring

By: Bloomberg     14th May 2021 Greenlight Capital’s David Einhorn said he recommend shares of Canadian miner Teck Resources amid strong demand for copper and other commodities. The pipeline of potential new copper capacity is low, and it takes a long time to create new mines, the hedge fund manager said Wednesday at the Sohn... 

Einhorn touts Teck Resources with copper rally enduring

Tshisekedi visits Glencore’s Kamoto project in recognition of investments made

By: Donna Slater     14th May 2021 Democratic Republic of the Congo (DRC) President Felix Tshisekedi visited the operations of Glencore’s Kamoto Copper Company (KCC) in Kolwezi, on May 13, in recognition of the miner’s near $8-billion investment in the country. KCC is a joint venture (JV) between Glencore and DRC commodity... 

Glencore CEO Ivan Glasenberg
Glencore CEO Ivan Glasenberg

Appian sells Caserones copper royalty

By: Creamer Media Reporter      14th May 2021 Appian Capital Advisory, an investment adviser to private equity funds investing in mining companies, will sell its Caserones copper royalty to Nomad Royalty for $23-million in cash and two-million common share purchase warrants of the buyer. The royalty interest is cash generative and represents... 

Miner provides update on copper operations

14th May 2021 Metals processing company Jubilee Metals last month provided a progress update for its copper operations in Zambia, specifically reporting that the first copper concentrate sent for refining at Jubilee’s Sable Refinery from Project Roan, was delivered on schedule. Last year, Jubilee entered into... 

BOOSTING COPPER PRODUCTION
The strong copper price is seeing it at a near ten-year high, with analysts predicting further growth over the next 12 months to 24 months
Photo by Reuters
BOOSTING COPPER PRODUCTION The strong copper price is seeing it at a near ten-year high, with analysts predicting further growth over the next 12 months to 24 months

Resolving tax, policy uncertainty could boost majors

By: Cameron Mackay     14th May 2021 If the Zambian government and the mining companies invested in the country can reach consensus on how mines should operate, how they should be taxed, and if they can apply this consistently, then mining majors, and the industry in general, will benefit significantly going forward, states mining... 

UNLOCKING INDUSTRY DEVELOPMENT 
Zambia’s wealth of high-demand minerals provides opportunities for explorers, producers and service providers to share in the revenue-generating opportunity
UNLOCKING INDUSTRY DEVELOPMENT Zambia’s wealth of high-demand minerals provides opportunities for explorers, producers and service providers to share in the revenue-generating opportunity

Zambian mine contributes to record production

14th May 2021 Diversified miner First Quantum Minerals achieved its highest ever yearly copper production last year, despite the impact of the Covid-19 pandemic, and the company’s Sentinel copper mine in Zambia was a significant contributor to the record production. This is according to the company’s fourth... 

PHILIP PASCALL
2020 was a challenging and unprecedented year as a result of the Covid-19 pandemic. Despite this, the company received its highest ever annual copper production
Photo by Bloomberg
PHILIP PASCALL 2020 was a challenging and unprecedented year as a result of the Covid-19 pandemic. Despite this, the company received its highest ever annual copper production

Barksdale buys Arizona projects from Rio Tinto

By: Mariaan Webb     13th May 2021 Vancouver-headquartered Barksdale Resources on Wednesday announced that it would acquire two copper exploration projects in Santa Cruz, Arizona, from Kennecott Exploration and, in a separate transaction with Regal Resources, that it would consolidate a 100% interest in the nearby Sunnyside... 

Turquoise Hill profit beats as production, prices surge

By: Reuters     13th May 2021 Canadian miner Turquoise Hill Resources on Wednesday beat estimates for first-quarter profit, helped by increased production of copper and gold at its Oyu Tolgoi mine in Mongolia and higher commodity prices. However, the company cut its outlook for full-year gold and copper output to reflect... 

Codelco to break ground on $1.4bn Salvador copper project

By: Reuters     13th May 2021 Chile's State-owned Codelco, the world's largest copper producer, announced on Wednesday it would soon break ground on a $1.4-billion project to extend the life of its aging Salvador division thru 2068. The Rajo Inca project aims to convert Salvador from an underground mine to an open-pit, and... 

Codelco to break ground on $1.4bn Salvador copper project

Gertler mining deals could cost Congo $1.76bn in royalties - activists

By: Reuters     13th May 2021 Congo could lose out on $1.76-billion in potential royalty payments from its copper and cobalt mining deals with Israeli mining magnate Dan Gertler, an anti-corruption group said on Wednesday, calling on the government to open an investigation. The US Treasury sanctioned Gertler and more than 30... 

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