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Copper News

Gangs stealing cables miles underground torment South African platinum mines

By: Bloomberg     9th May 2022 South African miners are battling a growing threat miles underground in the world’s deepest platinum shafts: Gangs stealing copper cables and disrupting operations. Enticed by high copper prices, thieves are sneaking in, descending deep underground and setting up camp among vast networks of... 

Chile’s proposed mining shakeup falls short in convention vote

By: Bloomberg     8th May 2022 Proposals to severely restrict private ownership of Chile’s giant copper and lithium deposits will get one more roll of the dice after falling short in a Constitutional Convention vote Saturday. While a package of proposals passed the two-thirds threshold in the plenary, many individual articles... 

Green hydrogen can be produced in South Africa immediately, coal conference hears

By: Martin Creamer     6th May 2022 The generation of green hydrogen is achievable in South Africa immediately and is not a complicated process, Sasol just transition office head David Kawesha said on Friday. “You just need the renewable energy resource, electrolysers to split water, and that’s really what the basic process is,”... 

Picture taken by Creamer Media
Photo by Creamer Media
McCloskey's Southern African Coal Conference panel from left moderator Randy Fabi, Tracey Davies, Steve Nicholls, Jan Oberholzer and David Kawesha.

McEwen CFO and COO step down 

By: Mariaan Webb     6th May 2022 NYSE- and TSX-listed McEwen Mining is hunting for a new CFO and COO to fill the positions of Anna Ladd-Kruger, who is retiring to focus on her health and family, and Peter Mah, who resigned for personal reasons. In the interim, Perry Ing – a previous CFO of McEwen – will assume the CFO... 

Chile's parched mines race for an increasingly scarce commodity: water

By: Reuters     6th May 2022  A record-breaking drought in Chile is impacting mining operations and forcing companies to escalate their search for more sources of water, from water treatment and pricey desalination plants to even encouraging workers to use less water in the shower. The Andean nation, the world's no. 1... 

EPA recommends against PolyMet permit reissuing

By: Mariaan Webb     6th May 2022 TSX- and NYSE American-listed developer PolyMet Mining is facing potential setback with the Environmental Protection Agency (EPA) this week recommending that the Army Corps of Engineers should not reissue the Clean Water Act Section 404 permit for its proposed NorthMet copper/nickel project, in... 

Tristan Pascall becomes First Quantum CEO, new director appointed

By: Creamer Media Reporter      6th May 2022 The board of First Quantum Minerals (FQM) on Thursday appointed Tristan Pascall to the role of CEO, and added Alison Beckett as an independent director. The company in November announced that that Tristan Pascall would take over the role of CEO from his father, co-founder Philip Pascall, who... 

Mbalula recommends a people-centred just transition

By: Schalk Burger     5th May 2022 Transport Minister Fikile Mbalula has said a just transition is about improving the lives and livelihoods of all South Africans, particularly those that are bearing the brunt of climate impacts, and protecting and empowering workers and communities, as the country navigates the shift away from... 

Transport Minister Fikile Mbalula
Photo by Reuters
Transport Minister Fikile Mbalula

World Coal Association favours just energy transition to net zero future  

By: Martin Creamer     5th May 2022 The World Coal Association, and its member companies, are in favour of a just transition to a net zero future, World Coal Association chairperson July Ndlovu said on Thursday. In his keynote address to the Southern African Coal Conference, Ndlovu emphasised the sincerity of the association’s... 

Creamer Media photograph
Photo by Creamer Media
World Coal Association chairperson July Ndlovu

Gold Fields lifts first-quarter output despite macroeconomic challenges 

By: Darren Parker     5th May 2022 Despite facing various global challenges, JSE-listed gold miner Gold Fields achieved a 7% year-on-year increase in attributable equivalent gold production for the quarter ended March 31. While the 580 000 oz of gold produced in the quarter was 8% lower quarter-on-quarter, Gold Fields said it... 

Gold Fields CEO Chris Griffith
Gold Fields CEO Chris Griffith

Canada in 'active discussions' with EV supply chain companies - Minister

By: Reuters     5th May 2022 Canada is talking to a number of companies interested in setting up production in the electric vehicle (EV) supply chain, the industry minister said, as the government seeks to cut carbon emissions to net zero by 2050 and play a role in the shift toward greener cars. There are "very active... 

An image of Francois-Philippe Champagne
Francois-Philippe Champagne

Caravel warns of higher cost copper

By: Esmarie Iannucci     5th May 2022 Junior Caravel Minerals has flagged a A$200-million increase in the capital cost estimate for the Stage 1 development of its Caravel copper project, in Western Australia. Lead engineer Ausenco has provided Caravel with capital cost estimates for the project’s Stage 1 process plant and... 

Barrick Gold taking final steps towards developing large ‘super tier one’ copper/gold project in Pakistan 

By: Martin Creamer     4th May 2022 "It’s not just tier one. This is a super tier one,” says Barrick Gold president and CEO Dr Mark Bristow of the proposed Reko Diq project, one of the largest undeveloped copper-gold porphyry deposits in the world. Bristow is scheduled to meet Pakistan’s new prime minister later this month to... 

Barrick Gold CEO Dr Mark Bristow
Barrick Gold CEO Dr Mark Bristow

Cash-flush Barrick Gold funding reintroduction of white rhinos to DRC national park 

By: Martin Creamer     4th May 2022 Gold mining company Barrick Gold, which has just reported an outstanding set of first quarter financial results, is funding the reintroduction of white rhinos to the Democratic Republic of Congo (DRC), where it mines at Kibali Gold Mine. Since agreement on the repatriation of revenue from Kibali... 

Screenshot of Barrick map.
Barrick Gold restoring rhino to park near Kibali mine.

Moody’s foresees elevated commodity prices, constraints persisting throughout this year

By: Donna Slater     4th May 2022 Moody’s Investors Service says the persistence of weaker mining production and volume constraints will exacerbate tight markets and further elevate prices of many metals after a number of large rated global diversified mining companies posted first-quarter production results showing weaker... 

Moody’s foresees elevated commodity prices, constraints persisting throughout this year

Glencore's human rights record worst in green metals, group says

By: Bloomberg     4th May 2022 Glencore has the worst human rights record among miners of metals used in renewable energy, the Business & Human Rights Resource Centre said in a report. The alleged abuses attributed to all companies range from attacks on activists to violations of environmental laws to forced relocations.... 

Earthworks start for new 500 000 t/y Kamoa copper smelter 

By: Donna Slater     3rd May 2022 In its endeavours to ramp up copper production and become the third-largest copper producer, diversified miner Ivanhoe Mines has started earthworks on a 500 000 t/y direct-to-blister flash smelter at its Democratic Republic of Congo- (DRC-) based and 39.6%-owned Kamoa-Kakula copper mining... 

An image of the Kamoa-Kakula processing complex
The Kamoa-Kakula processing complex

Demand concerns drag copper and aluminium to three-month lows

By: Reuters     3rd May 2022 Prices of copper and aluminium fell to three-month lows on Tuesday as weak manufacturing data, Covid-19 outbreaks in China and rising interest rates stoked fears that demand will soften. Benchmark copper on the London Metal Exchange (LME) was down 2.5% at $9 525.50 a tonne at 10:55 GMT. LME... 

Chile rejects Anglo’s application to extend copper mine

By: Mariaan Webb     3rd May 2022 Diversified major Anglo American said on Tuesday that Environmental Assessment Service of Chile (SEA) had formally rejected the environmental permit application for its multi-million-dollar expansion plans at Los Bronces. The decision follows SEA’s earlier recommendation that the Los Bronces... 

An aerial view of the Los Bronces operation in Chile
An aerial view of the Los Bronces operation in Chile

South Africa would do well to highlight its key iridium status to world that needs this very rare metal  

By: Martin Creamer     3rd May 2022 South Africa would do well to highlight its key iridium supply status to gain the full confidence of a world that requires this very rare platinum group metal (PGM) to advance the fast-moving hydrogen economy. Iridium is a potent co-roleplayer with PGM stalwart platinum when it comes to... 

Creamer Media picture
SFA Oxford CEO Henk de Hoop interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

'Painful' protests reflect years of broken promises in Peru

By: Bloomberg     3rd May 2022 The head of Peru’s biggest mine says a swift solution to rising social unrest in the country is within reach if authorities and politicians agree to address the central problem: management of public funds. Peru, the world’s No. 2 copper and zinc supplier and a major producer of silver and gold,... 

An image of Victor Gobitz
Antamina CEO Victor Gobitz

Peru mine disruption to continue as MMG fails to oust protestors

By: Bloomberg     2nd May 2022 MMG is facing the possibility of a prolonged disruption at its copper mine in Peru after failing to clear the site of all protesters in an operation that has further inflamed tensions with indigenous groups. The Hong Kong-listed company’s security personnel teamed up with police this week in... 

Peru mine disruption to continue as MMG fails to oust protestors

 Codelco says it is optimistic about copper price for 2022

By: Reuters     29th April 2022 Chilean state-owned mining company Codelco is optimistic about copper prices for 2022 boosted by higher demand, its president Maximo Pacheco said on Friday during a press conference. Pacheco, who spoke after a meeting with shareholders and Finance Minister Mario Marcel and Mining Minister... 

Zambia's ZCCM-IH to appoint adviser to restructure Mopani Copper Mines

By: Reuters     29th April 2022 Zambia's state mining investment firm ZCCM-IH is in the process of appointing a financial adviser to restructure Mopani Copper Mines and help find an investor for the copper mine, board chair Dolika Banda said on Friday. The appointment is "imminent", Banda said, adding that ZCCM should find a... 

Chile's March copper production falls 7.2%

By: Reuters     29th April 2022 Copper output in Chile, the world's largest producer of the metal, fell 7.2% year on year to 462,360 tonnes in March, the country's statistics agency INE said on Friday. The agency said that there was "less ore processing in important companies in the sector." The Chilean Copper Commission... 

Peru evictions enter second day at halted Las Bambas mine

By: Reuters     29th April 2022 Peruvian police evicted indigenous protesters from MMG's Las Bambas copper mine for a second day on Thursday, as they disperse a camp set up on company property, an adviser to the community told Reuters. The action at the Chinese-owned Las Bambas, which supplies 2% of the world's copper, follows... 

Rio Tinto invests in US-based copper developer

By: Mariaan Webb     29th April 2022 Global miner Rio Tinto is investing in US-based copper developer and near-term producer Arizona Sonoran Copper (ASCU) as part of that company’s C$30.5-million nonbrokered private placement. Rio Tinto would subscribe for 6.4-million shares in ASCU and Tembo Capital Elim Co-Investment would... 

Glencore guides higher full-year ferrochrome output with coal marking time 

By: Martin Creamer     28th April 2022 Diversified mining and marketing company Glencore is guiding 3% higher ferrochrome performance for the whole of this year, with no change to its coal production guidance. Full-year guidance for nickel is also up by the same three percentage points but full-year 2022 zinc guidance has been reduced... 

Picture supplied.
Gary Nagle

Orion reports positive Okiep drilling results, potential nickel credits

By: Creamer Media Reporter      28th April 2022 Globally diversified metal explorer and developer Orion Minerals' share price on the JSE rose by more than 7% on the morning of April 28, after announcing encouraging results from its maiden drilling programme across the Koperberg – Carolusberg line of intrusions at the Okiep Copper Project... 

Orion MD and CEO Errol Smart
Orion MD and CEO Errol Smart

Peru govt declares state of emergency near MMG’s Las Bambas mine

By: Reuters     28th April 2022 The Peruvian government on Wednesday declared a state of emergency near MMG's Las Bambas copper mine, where production has been halted for a week due to indigenous communities camped inside. A state of emergency suspends civil liberties such as the right to assembly and protest. Reuters reported... 

Aeris makes a strategic copper play

By: Esmarie Iannucci     28th April 2022 ASX-listed Aeris Resources has struck a A$234-million deal with fellow listed Washington H. Soul Pattinson (WHSP) to acquire Round Oak Minerals as part of its diversification strategy. Round Oak owns a diverse portfolio of Australian copper and zinc assets, including the Jaguar zinc/copper... 

MATSA adds to Sandfire production

By: Esmarie Iannucci     28th April 2022 Copper miner Sandfire Resources has reported a significant surge in production during the March quarter, following the completion of the MATSA mining operation, in Spain, and an operational integration programme. Copper production in the March quarter increased to 28 774 t, up from the 18 675 t... 

First Quantum Minerals' profit more than doubles on higher prices

By: Reuters     27th April 2022 Toronto-listed miner First Quantum Minerals reported on Tuesday a 171% jump in its first-quarter profit, powered by higher copper prices from supply worries. Realized price of copper, a key metal used in wiring, electric vehicles and electronics, rose nearly 37% to $4.45 per pound in the... 

Commodity prices drive Teck's Q1 profit to record C$1.6bn

By: Mariaan Webb     27th April 2022 Canadian diversified major Teck Resources has reported an “exceptional” start to 2022, with record-setting first quarter financial results on the back of high commodities prices. The TSX- and NYSE-listed miner reported record adjusted profit of C$1.6-billion, or C$3.02 a share in the first... 

An image of Teck CEO Don Lindsay
Teck CEO Don Lindsay says the company has had an 'exceptional start' to 2022

Teck to earn into Chile copper project

By: Mariaan Webb     27th April 2022 Canadian miner Teck Resources has been granted options to earn up to a 75% interest in a copper project in Chile that is surrounded by major copper producers BHP and Codelco. Teck would earn into the Loreto project from Australia’s Golden Rim by spending $17-million on exploration and making... 

Teck to earn into Chile copper project

China-owned Las Bambas mine weighs plan to evict protesting communities

By: Reuters     27th April 2022 Chinese-owned MMG's Las Bambas copper mine in Peru is considering a plan to evict indigenous communities that have camped on the property and forced a production halt, according to an executive and a document seen by Reuters. Under Peruvian civil law, property owners can attempt to evict... 

Wimbledon opts for platinum to mark Queen’s jubilee, centre court centenary 

By: Martin Creamer     26th April 2022 In the year of the Queen of England’s platinum jubilee, the coins to be used in the Wimbledon ladies’ and gentlemen’s singles finals coin toss will be made of platinum for the first time in the championships’ history. This follows last month’s unveiling by the UK Royal Mint of its largest ever... 

Image supplied by WPIC
Platinum coin to be tossed at Wimbledon.

GNRI considers sale of $1.5bn Botswana copper mine

By: Bloomberg     26th April 2022 Private equity firm GNRI is considering options for its Khoemacau copper mine in Botswana including a possible sale, people familiar with the matter said. The resources-focused investment firm is working with an adviser to identify potential suitors for the asset, the people said, asking not to... 

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