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Copper News

Caravel raises copper cash

By: Esmarie Iannucci     3rd May 2021 Base metals developer Caravel Minerals is hoping to raise A$7.5-million in a share placement to fund work at the Caravel copper project, in Western Australia. The company on Monday announced that it had received firm commitments from institutional and professional investors for the placement of... 

Peru Presidential candidate vows to curb foreign firms 'looting' mining wealth

By: Reuters     3rd May 2021 Peruvian presidential election front-runner, socialist Pedro Castillo, said on Saturday he would, if elected, review contracts with foreign miners in the copper-rich country and seal a deal for Russia's Sputnik V vaccine. Castillo leads in the polls ahead of a run-off vote on June 6 against... 

Orion Minerals moves ahead with Okiep buy

By: Esmarie Iannucci     3rd May 2021 A scoping study into the Okiep copper project, in the Northern Cape of South Africa, has confirmed the potential for early cash flow. Copper developer Orion Minerals completed a scoping study on the Okiep project as part of its due diligence programme under an option agreement to acquire the... 

World top copper producer Chile sees output slide for tenth consecutive month

By: Reuters     30th April 2021 World top copper producer Chile saw output of the red metal fall for the tenth consecutive month in March, government statistics agency INE said on Friday, marking a modest but continual slide in production that began shortly after the coronavirus pandemic struck the country. Copper output fell... 

Sibanye approves feasibility study on Marathon project, mulls interest increase

By: Marleny Arnoldi     30th April 2021 TSX-listed Generation Mining has announced board approval for the feasibility study for the Marathon palladium/copper project, in Northwestern Ontario. The company obtained shareholder approval in terms of the Marathon joint venture (JV) agreement signed in July between itself and Stillwater... 

Los Andes Copper receives approval for drilling at Chile project

By: Simone Liedtke     30th April 2021 TSX-Vlisted Los Andres Copper has received unanimous approval from the regional environmental committee for drilling to be carried out at the company’s Vizcachitas project, in Chile. The approval allows the company to drill up to 350 holes on up to 124 platforms over the next four years, if... 

Eagle Mountain takes full ownership of Oracle Ridge

By: Esmarie Iannucci     30th April 2021 Junior Eagle Mountain Mining has moved to take full ownership of the Oracle Ridge copper project, in Arizona. The ASX-listed company on Friday said that it would acquire joint venture partner Vincere Resource Holding’s 20% interest in Wedgetail Operations, which is the owner of the Oracle Ridge... 

Jubilee’s Project Roan starts producing copper

By: Simone Liedtke     29th April 2021 Dual-listed Jubilee Metals’ Project Roan has started production of intermediate copper concentrate for refining at the company’s Sable Refinery, in Zambia. The construction of Phases 2 and 3 remain on target. 

Canadian First Nation, with rare sway over mining, puts Newmont on notice

By: Reuters     29th April 2021 A First Nation group in Canada's British Columbia province has put top gold miner Newmont Corp on notice that it is unlikely to gain buy-in for a gold and copper project, amid concern that mining will encroach on a local town. The pushback by the Tahltan First Nation carries extra weight due to... 

Glencore maintains full-year guidance as first-quarter production meets expectations 

By: Simone Liedtke     29th April 2021 Diversified miner Glencore’s overall production for the first quarter was broadly in line with the company’s expectations, with production reflecting that many of its operations continue to maintain thorough Covid-19 safe working practices. Full-year production guidance, however, has been... 

CEO Ivan Glasenberg
Photo by Bloomberg
CEO Ivan Glasenberg

Minnesota court orders fresh review of PolyMet mine permits

By: Reuters     29th April 2021 The Minnesota Supreme Court on Wednesday ordered state regulators to reconsider some permits needed by PolyMet Mining Corp to build an openpit copper mine in the state's rural north, handing a win to environmentalists and delaying the project. The ruling from the state's top court comes as the... 

Minnesota court orders fresh review of PolyMet mine permits

Freezing weather dampens output slightly from Imperial’s Red Chris project

By: Marleny Arnoldi     29th April 2021 TSX-listed Imperial Metals Corporation has reported lower quarter-on-quarter production from the Red Chris copper/gold project, in British Columbia, for the first quarter of this year, owing to a major power outage during a winter weather event experienced in February. The company explains in... 

Teck posts triple-digit first-quarter profit growth

By: Marleny Arnoldi     28th April 2021 Canadian diversified miner Teck Resources says a solid first quarter operational performance and higher commodity prices contributed to a good start to this year for the company. CEO Don Lindsay reports that the company achieved major milestones on its priority projects, including surpassing... 

Teck Resources' Elkview mine, in Canada
Teck Resources' Elkview mine, in Canada

Mining policy should be hugely supportive of exploration’s multiplier magic – investor  

By: Martin Creamer     28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... 

Integral Asset Management chief investment officer Bruce Williamson.
Integral Asset Management CIO Bruce Williamson interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

First Quantum achieves record quarterly output from Cobre Panama

By: Marleny Arnoldi     28th April 2021 TSX-listed First Quantum Minerals has recorded net earnings attributable to shareholders of $142-million, or $0.21 apiece, for the quarter ended March 31. This while generating cash flow from operating activities of $743-million.  

Kamoa Copper launches corporate identity ahead of production start in July 

By: Marleny Arnoldi     28th April 2021 Ahead of starting production at Kamoa-Kakula in July, joint venture (JV) company Kamoa Copper, has been given a new corporate identify alongside recent board appointments.  Kamoa Copper will operate the JV’s mines in the high-grade Kolwezi copper district of Lualaba, in the Democratic Republic of... 

Kamoa Copper logo
Kamoa Copper logo

IGO's revenue falls on lower gold output

By: Esmarie Iannucci     28th April 2021 Metals miner Independence Group (IGO) has reported a 21% fall in revenue and a 23% fall in underlying earnings before interest, tax, depreciation and amortization (Ebitda) for the quarter ended March as production declined. Nickel production from the Nova operation declined from 7 024 t in the... 

New capacity needed to meet rapid copper demand growth

By: Reuters     28th April 2021 Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy. Copper prices at around $9,900 a tonne, close to the record $10,190 a tonne hit in February... 

Mining giant Chile flush with cash as copper price soars

By: Reuters     28th April 2021 Chile expects the soaring price of its main export copper to boost growth and underwrite the nearly $16 billion in stimulus the country expects to have handed out to its citizens during the coronavirus pandemic. Finance Minister Rodrigo Cerda told lawmakers during a presentation of the... 

Brazil's Vale, eyeing EV market, mulls base metal spinoff

By: Reuters     28th April 2021 Brazilian iron-ore miner Vale is "closely analyzing" a possible spinoff of its base metals division, Chief Executive Eduardo Bartolomeo said on Tuesday, a move that could help the company take advantage of increasing demand from electric car manufacturers. The company previously considered... 

Brazil's Vale, eyeing EV market, mulls base metal spinoff

Copper miner Grupo Mexico swings to big profit as metal prices jump

By: Reuters     28th April 2021 Grupo Mexico registered a net profit of $1.1-billion in this year's first quarter, the Mexican mining and transport company said on Tuesday, helped by a 50% surge in copper prices during the first three months of the year. The company's-billion dollar profit in the January-to-March period marked... 

Another solid quarter for Sandfire

By: Esmarie Iannucci     28th April 2021 Copper/gold miner Sandfire Resources has reported a solid quarter of production in the three months to March. Copper production in the period under review remained stable at 16 803 t, compared with the 16 390 t produced in the previous quarter, while gold production declined slightly from 9 660... 

INV advances Loma Larga project, begins formal permitting process

By: Tasneem Bulbulia     26th April 2021 TSX-listed INV Metals has submitted the environmental-impact study (EIS) for its Loma Larga gold/silver/copper project, in Ecuador. “We are pleased to announce the submission of the EIS for review and comment by the Ministry of Environment and Water (MEW). 

Tackling climate change could not be more urgent – Anglo American 

By: Martin Creamer     26th April 2021 Tackling climate change could not be more urgent, Anglo American said on Monday when it presented its biannual sustainability performance update. “For the emissions that we control in our business, we have come a long way, delivering our 2020 target to reduce greenhouse gas emissions by 22% a... 

From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce
Photo by Creamer Media
From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce

JX Nippon Mining to sell stake in Indonesian copper smelter to Freeport

By: Reuters     26th April 2021 JX Nippon Mining & Metals, a unit of Japan's Eneos Holdings, said on Monday it would sell its 5% stake in Indonesian copper smelter PT Smelting to Freeport-McMoRan Inc for an undisclosed sum after a review of its portfolio. The deal will be completed on April 30, a JX Nippon Mining spokesman said. 

Copper jumps to highest since 2011 as demand bets reignite rally

By: Bloomberg     26th April 2021 Copper surged to the highest in a decade on expectations supply will tighten as the global economic recovery gains traction. Prices have climbed amid a broad rally across industrial commodities from iron-ore to aluminum. Economic bellwether copper has been boosted by prospects for rebounding... 

Copper jumps to highest since 2011 as demand bets reignite rally

Jervois in financing discussions with US government for ICO mine

By: Donna Slater     26th April 2021 ASX- and TSX-V-listed battery metals miner Jervois Mining is participating in financing discussions with the US federal government to complete construction of its Idaho Cobalt Operations (ICO) mine, in Idaho. Jervois states that ICO will be the only cobalt mine in the US once it starts production.  

Saudi State miner Maaden said to name third CEO in 13 months

By: Bloomberg     26th April 2021 Saudi Arabia’s State miner has appointed its third chief executive officer in the past 13 months after the departure of Mosaed Al Ohali, according to people familiar with the matter. Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining, will replace Al Ohali as acting CEO until... 

Newmont-Barrick miner in Chile says to continue despite legal setback

By: Reuters     26th April 2021 A partnership between miners Newmont and Barrick in Chile said on Friday it will to work with local communities to boost development of its Norte Abierto gold-copper project despite a setback in the courts this week. An environmental court ordered a new evaluation of exploration at Norte Abierto... 

Second environmental court ruling hits BHP's Cerro Colorado mine

By: Reuters     23rd April 2021 A Chilean court ordered BHP's Cerro Colorado copper mine, in the extreme north of the country, to cease drawing water from a riverbed near its facility and regulate nearby waste deposits following complaints from a nearby indigenous community. The ruling follows another by the Supreme Court in... 

Glencore chair defends pay plan for commodity trader’s new CEO

By: Bloomberg     22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... 

Gary Nagle
Gary Nagle

Freeport-McMoRan swings to quarterly profit on higher copper prices

By: Reuters     22nd April 2021 Freeport-McMoRan on Thursday reported a first-quarter profit, compared with a year-ago loss, as the world's largest publicly traded copper producer benefited from higher prices for the red metal from improving global economic recovery prospects. Benchmark prices for copper, widely used in power... 

Freeport-McMoRan swings to quarterly profit on higher copper prices

Anglo American lifts first-quarter output on strong copper, PGMs performance 

By: Donna Slater     22nd April 2021 Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity. 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani

Oz on track for 2021 targets, but Covid hampering Brazil ops

By: Esmarie Iannucci     22nd April 2021 Copper/gold miner Oz Minerals on Thursday said that it was on track to meet its full year production guidance, however, the miner told shareholders that challenging conditions in Brazil, relating to the escalating Covid-19 pandemic in the region, could impact the development of the Pedra Branca... 

Chile environment court questions Norte Abierto mine impact on indigenous neighbours

By: Reuters     22nd April 2021 A Chilean environmental court said on Wednesday it had ordered a fresh evaluation of the Norte Abierto gold and copper mining project due to concern that heavy traffic and water usage could disrupt life for the nearby indigenous community. The complex, situated in the northern Atacama region,... 

Chile environment court questions Norte Abierto mine impact on indigenous neighbours

Rio Tinto explores for copper in Solwezi 

By: Creamer Media Reporter      21st April 2021 Diversified major Rio Tinto has started its initial 2021 exploration campaign on Midnight Sun Mining’s Solwezi licences, in Zambia, the TSX-V-listed junior reported this week. Rio Tinto is in Stage 1 of a $51-million earn-in and joint venture agreement in terms of which Rio Tinto can earn up to... 

Antofagasta keeps guidance unchanged despite second Covid wave

By: Mariaan Webb     21st April 2021 Chilean copper miner Antofagasta has kept its guidance for the full year unchanged at between 730 000 t and 760 000 t, despite the country enduring a sharp uptick in Covid infections in recent weeks. The full-year guidance assumed that Covid-19 restrictions would remain in place for all of 2021,... 

Los Pelambres
Los Pelambres

Commodities of the future to boom over 20-year horizon

By: Donna Slater     21st April 2021 A significant number of commodities are set to experience strong demand growth over the next 20 years, while “conventional” commodities will receive an added boost as they take a central stage in the green and digital transitions, says financial risk management, solutions and insights company... 

Commodities of the future to boom over 20-year horizon
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