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Copper News

Canadian North sets aside C$11m for Nunavut exploration

By: Creamer Media Reporter      26th April 2022 TSX-V-listed exploration and development company Canadian North on Monday announced a C$11-million budget for its exploration plan at Ferguson Lake, in Nunavut, focusing on nickel, copper, cobalt,  palladium and platinum mineralisation. The exploration plan will include a resource estimation, a... 

Copper to iron-ore rebound as China vows to support economy

By: Bloomberg     26th April 2022 Industrial metals from copper to iron-ore recouped some of Monday’s losses after China pledged more support to help revive an economy that’s been imperiled by an escalating virus outbreak. The country’s central bank vowed to increase monetary support to the real economy, especially for... 

Copper to iron-ore rebound as China vows to support economy

South32 sticks to its production outlook

By: Esmarie Iannucci     26th April 2022 Diversified miner South32 has maintained its production guidance for 2022 following a strong March quarter, while operating cost expectations for its Australian and South African operations have increased, on the back of stronger producer currencies, higher raw material costs and an increase in... 

Zambia 'very close' to picking investor for Mopani copper mine -president

By: Reuters     26th April 2022 Zambia's government is close to finding a private investor for Mopani Copper Mines, President Hakainde Hichilema said on Monday, in order to ramp up production at the mine, one of the biggest in the country. Zambia took on $1.5-billion in debt to buy Mopani from Glencore in January 2021 and has... 

Prolonged Peru mine protest ends after dispatch of soldiers

By: Reuters     25th April 2022 Peru said on Friday a group of indigenous communities had lifted a protest against Southern Copper's Cuajone copper mine that had forced a suspension of production for more than 50 days. The government had declared a state of emergency in the region earlier in the week, sending soldiers to lift... 

Barrick confirms mine water leakage at North Mara, no risk found so far

By: Marleny Arnoldi     25th April 2022 Global gold and copper miner Barrick Gold Corporation has advised of a water leak at its North Mara mine, in Tanzania, but says it has found no reason for concern to the community or aquatic biodiversity of a nearby river. The company explains that the mine has experienced an uncontrolled... 

Codelco starts offering exploration assets to third parties

By: Reuters     25th April 2022 Chilean State-owned mining company Codelco said on Friday it has commenced seeking prospect partnerships for 34 projects across the country, its first such move into joint exploration. The offer of "non-core" prospects was first flagged by a company executive at the end of March but met... 

Newmont posts lower first-quarter profit

By: Mariaan Webb     22nd April 2022 The world’s biggest bullion miner, Newmont, on Friday reported lower first-quarter adjusted earnings on the back of lower sales volumes. Adjusted net income was $546-million, or $0.69 a diluted share, compared with $594-million, or $0.74 a diluted share, in the prior-year quarter. The company... 

Newmont CEO Tom Palmer
Newmont CEO Tom Palmer

Mining giants struggle despite commodities price boom

By: Bloomberg     22nd April 2022 The world’s biggest miners had a tough start to the year, struggling to hit production goals and keep costs under control in the face of Covid-19 disruptions and global inflationary pressures. Fresh from record profits, and with many commodities still trading at or near all-time highs, the... 

Mining giants struggle despite commodities price boom

Epiroc gets large mining equipment order from DRC copper mine

By: Darren Parker     22nd April 2022 Swedish original-equipment manufacturer Epiroc has received a large order from copper miner Kamoa Copper for mining equipment that will be used at the Kamoa-Kakula underground copper mine in the Democratic Republic of the Congo (DRC).  Kamoa Copper operates Kamoa-Kakula as a joint venture between... 

An Epiroc machine underground

Chile Constitutional assembly knocks back ambitious environmental proposals

By: Reuters     22nd April 2022 - Chile's constitutional convention rejected on Thursday night a set of proposals focused on expanding environmental protections, especially around the major mining sector, a blow to reformers which will push the articles back to committees to be reworked. "Regretfully, our commission's [full... 

GBM finalises deal with Canada's Consolidated Uranium

By: Esmarie Iannucci     22nd April 2022 Minerals explorer GBM Resources has finalised the sales agreement over the Brightlands Milo tenement, in Queensland. The company in November last year struck an agreement with TSX-V listed Consolidated Uranium to sell the iron-ore/copper/gold/uranium/rare earth tenement for an initial C$500 000... 

Aeon pauses PFS work

By: Esmarie Iannucci     22nd April 2022 Junior Aeon Metals has paused the prefeasibility study (PFS) on its Walford Creek copper/cobalt project, in Queensland, on the back of ever-increasing global input costs and supply chain volatility. The ASX-listed company in June of last year completed a revised scoping study for Walford Creek,... 

Rain and Covid dull Oz Minerals' shine

By: Esmarie Iannucci     22nd April 2022 Copper/gold miner Oz Minerals has seen first quarter production affected by wet weather conditions and Covid-19-related production interruptions. The miner on Friday reported that copper production in the three months to March had reached 30 322 t, down from the 32 169 t delivered in the... 

Image shows the Prominent Hill opencut operation

Copper rebounds after miners report sliding production

By: Reuters     21st April 2022 Copper prices bounced on Thursday after a spate of production problems that threaten to cut supply, including a state of emergency in Peru, the world's second biggest producer. Benchmark three-month copper on the London Metal Exchange (LME) added 0.6% to $10 280/t in official open-outcry trading... 

Copper rebounds after miners report sliding production

Freeport-McMoRan's profit rises on higher copper prices

By: Reuters     21st April 2022 Copper miner Freeport-McMoRan on Thursday reported a jump in first-quarter profit, as supply worries bolstered prices of the red metal. Prices of copper, a key metal used in wiring, electric vehicles and other electronics, rose about 7% in the first quarter on fears that Russia's invasion of... 

Los Pelambres expansion to cost another $500m more

By: Mariaan Webb     21st April 2022 London-listed Antofagasta has completed a review of the project schedule and costs for an expansion of its flagship Los Pelambres copper mine in Chile, and on Thursday reported a revised capital cost estimate of $2.2-billion. This is a 30% increase from the previous estimate of $1.7-billion and... 

Los Pelambres expansion to cost another $500m more

Chaarat Gold looking forward to ‘very green’ production out of Kyrgyz Republic  

By: Martin Creamer     21st April 2022 London Aim-quoted gold mining company Chaarat Gold is looking forward to “very green and sustainable gold production” coming out of the Kyrgyz Republic, where it is developing two gold projects. The of these first is Tulkubash, a near-term opencast heap leach project, and the second a far larger,... 

Picture supplied.
Chaarat Gold CEO Mike Fraser interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Putin wants Russia to boost its use of metals to counter sanctions

By: Reuters     21st April 2022 Russian President Vladimir Putin on Wednesday called for structural changes in Russia's metallurgical industry to counter Western sanctions he said were starving it of some components and restricting its ability to sell some goods abroad. Speaking at a televised meeting with industry officials... 

An image of Vladimir Putin
Vladimir Putin chairing a meeting in Russia on Wednesday

BHP adjusts copper and nickel expectations

By: Esmarie Iannucci     21st April 2022 Major BHP has lowered its full-year production expectations for its copper and nickel divisions, while warning of tight labour markers in Australia and Chile for the rest of the year. “BHP delivered safe and reliable production in the third quarter. Our Western Australian iron-ore business... 

Image shows BHP's Escondida operations at sunset

Kefi to raise £8m through share placement

By: Darren Parker     20th April 2022 Aim-listed gold exploration and development company Kefi Gold and Copper has announced an oversubscribed fundraising to raise gross cash proceeds of £8-million through a firm placing of 550-million new ordinary shares of 0.1p each in the capital of the company at a price of 0.8p per ordinary... 

President Ramaphosa to deliver keynote address at Mining Indaba 2022

By: Martin Creamer     20th April 2022 President Cyril Ramaphosa will deliver a keynote address at the 2022 Investing in African Mining Indaba, which takes place in Cape Town from May 9 to 12. The attendance of Ramaphosa, who will speak on Tuesday, May 10, signals the continued importance of mining to the South African economy as a... 

Picture supplied.
President Cyril Ramaphosa.

Cascabel ‘no ordinary mining asset’, says SolGold as it unveils PFS

By: Mariaan Webb     20th April 2022 Dual-listed SolGold on Wednesday published a prefeasibility study (PFS) for its Cascabel project, in Ecuador, outlining plans for a multi-decade, low-cost copper producer that could help establish Ecuador as the next copper frontier. Cascabel would produce an average of 132 000 t/y of copper,... 

An image of the project area around Cascabel in Ecuador
The Cascabel project area in Ecuador

Siemens Gamesa buffeted by rising costs as turbine launch problems deepen

By: Reuters     20th April 2022 Siemens Gamesa is discussing raising prices for its wind turbines by more than a high single-digit percentage in some cases as it grapples with stubbornly lofty raw materials prices, CE Jochen Eickholt said on Wednesday. "For specific materials … steel, copper, others, we continue to observe... 

Rio's iron-ore production continues to fall

By: Esmarie Iannucci     20th April 2022 Diversified major Rio Tinto has reported another quarter of falling iron-ore production and shipments. The miner on Wednesday reported that iron-ore shipments from the Pilbara operations had reached 71.5-million tonnes, down 8% on the previous corresponding period, and down 15% on the previous... 

Image shows an iron-ore operation in the Pilbara

MMG's Las Bambas copper mine in Peru to suspend operations after protest

By: Reuters     19th April 2022 MMG said on Monday its Las Bambas copper mine in Peru will suspend operations from April 20 after residents of a community nearby entered the property as part of a protest. Las Bambas accounts for 2% of the global copper supply and is a subject of recurring disruptions from impoverished local... 

MMG's Las Bambas copper mine in Peru to suspend operations after protest

Miners welcome Morrison's election promises

By: Esmarie Iannucci     19th April 2022 The resources sector has been quick to welcome election promises from the Coalition government, after Prime Minister Scott Morrison promised a A$50-million investment to boost the critical minerals supply chain in Western Australia, along with a host of energy-related investments. The Prime... 

Image shows Prime Minister Scott Morrison
Photo by Bloomberg
Prime Minister Scott Morrison

Metal prices to remain elevated this year – Fitch Solutions

By: Donna Slater     14th April 2022 Compared to pre-Covid-19 levels, metal prices are expected to remain elevated this year and next as a result of high energy prices constraining production; Russia’s invasion of Ukraine, which is causing a massive dent in global metal exports from both countries combined; logistical issues and... 

Barrick reports q/q production drop

By: Mariaan Webb     14th April 2022 Canada-headquartered Barrick Gold produced one-million ounces of gold and 101-million pounds of copper in the first quarter of the year, in line with its previously announced guidance. The miner stated on Thursday that gold production, which was lower than the preceding quarter’s, would increase... 

Talon expands in-house capabilities to explore for battery minerals

By: Creamer Media Reporter      14th April 2022 Nickel/copper explorer Talon Metals has purchased new drill rights and hired more people to step up its exploration efforts for battery minerals  in Minnesota. The TSX-listed company bought three new Boart Longyear drill rigs, taking its in-house drilling fleet to six rights. The new rigs will... 

Greater fuel cell adoption would be a massive boost for South Africa’s platinum group metals  

By: Martin Creamer     13th April 2022 The enactment by more governments of policies to enable greater hydrogen fuel cell mobility would be a massive boost for South Africa’s platinum group metals (PGMs) sector, Mining Weekly can today report. Adoption of hydrogen fuel cell mobility has already been significantly enabled by the German... 

Creamer Media picture
PGMs Industry Day webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Tritton benefitting from higher grades

By: Esmarie Iannucci     13th April 2022 Copper miner Aeris Resources is expecting copper production from its Tritton operations, in New South Wales, to increase between 2022 and 2025. The company told shareholders that operating changes made in January to focus on higher-grade ore sources at Tritton Deeps have started flowing through... 

Barrick eyes first production from Reko Diq by 2027

By: Mariaan Webb     13th April 2022 Toronto-listed miner Barrick Gold has outlined a revised plan for the Reko Diq copper/gold project, in Pakistan, proposing a $7-billion investment over two phases in a project that could deliver its first gold in five to six years. The new conceptual design, announced on Tuesday, comes as... 

An image of a mining project area in Pakistan

KGL raises cash for Jervois work

By: Esmarie Iannucci     13th April 2022 Copper developer KGL Resources has announced plans to raise A$24.2-million in a one-for-six non-renounceable entitlement offer, priced at 37c a share. KGL on Wednesday said that up to 65.3-million shares would be on offer, with a minimum raising target of A$9.9-million set. 

First copper mined from Kanmantoo underground

By: Esmarie Iannucci     13th April 2022 ASX-listed Hillgrove Resources has produced its first copper ore from the Kanmantoo underground mine, in South Australia. The first load of copper mineralisation from the underground operation has been delivered to the run-of-mine stockpile. 

WA posts bumper resource year

By: Esmarie Iannucci     13th April 2022 Western Australia’s resources industry was worth a record A$230-billion in revenue in 2021, the state government revealed this week. Resources sales for 2021 were up 30%, or A$53-billion, from 2020, based on the latest annual data released by the Department of Mines, Industry Regulation and... 

Image shows yellow dumptrucks

Uganda seeks investors to revive copper mine

By: Reuters     13th April 2022 Uganda said on Tuesday it was inviting expressions of interest from investors to restart a vast copper mine in the country's west that also holds significant cobalt deposits. The Kilembe mine, which sits on the foothills of the ice-capped Rwenzori mountains on the border with Democratic Republic... 

Newmont takes full ownership of Yanacocha

By: Mariaan Webb     12th April 2022 Gold and copper producer Newmont on Tuesday announced that it would buy the remaining 5% of the Yanacocha mine from Sumitomo for $48-million, making the miner the exclusive owner-operator of the asset. This follows on the February announcement in which Newmont acquired Buenaventura’s 43.65%... 

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