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Copper News

Altus granted ten-year mining licence for Morocco project

By: Tasneem Bulbulia     12th April 2022 Aim-, TSX-V- and OTCQX-listed Altus Strategies has been issued a ten-year mining licence for its 100%-owned Agdz copper/silver project by the Ministry of Energy, Transition and Sustainable Development of Morocco. The company’s Moroccan portfolio is held by its 100%-owned subsidiary Aterian... 

Sandfire facing issues at Black Butte

By: Esmarie Iannucci     12th April 2022 Copper miner Sandfire Resource’s US subsidiary is reviewing the legal implications of a court decision around the mine operating permit of its Black Butte project, in Montana. TSX-V listed Sandfire America this week reported that a District Court Judge had granted a motion for a summary... 

Ivanhoe’s Kamoa Copper achieves record quarterly production

By: Tasneem Bulbulia     11th April 2022 Canadian miner Ivanhoe Mines’ Kamoa-Kakula Mining Complex, in the Democratic Republic of Congo, has set a new quarterly production record in the first quarter of this year, with 55 602 t of copper-in-concentrate produced. Kamoa Copper milled 1.08-million ore tonnes during the quarter at an... 

Clients planning to close many renewable energy project deals this year – Nedbank CIB  

By: Martin Creamer     11th April 2022 While Africa is blessed with great natural sun and wind resources, it has about 600-million people living without access to electricity, which is one of the biggest impediments to the continent’s economic growth. Renewable energy is available to put an end to this impediment, as it can provide... 

Picture supplied
Nedbank CIB Group Managing Executive Anél Bosman interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Boliden to spend $530m on improving Aitik mine's tailings dam

By: Reuters     11th April 2022 Miner Boliden said on Monday it would spend five-billion Swedish crowns ($530-million) over the next two years on works on the tailings dam at its Aitik copper mine in northern Sweden. "Areas with poorer soil conditions than previously estimated have been identified. Additional dam heightening... 

Chilean State sues BHP, Antofagasta mines over Atacama water use

By: Reuters     11th April 2022 Chile is suing mines operated by BHP, Antofagasta and Albemarle over alleged environmental damage caused by their operations in the northern Salar de Atacama salt flats, a court said late on Thursday. The State Defense Council (CDE) launched its legal action in the environmental court over the... 

Canadian miners cheer Ottawa's critical minerals budget plan

By: Reuters     11th April 2022 Canadian miners say Ottawa's plan to spend C$3.8-billion ($3.02-billion) to boost domestic production of lithium, copper and other strategic minerals should help propel the country's efforts to become a key part of the global electric vehicle supply chain. The spending, announced during Canada's... 

An image of the Canadian flag

Turquoise Hill forms special committee to consider Rio Tinto buyout offer

By: Marleny Arnoldi     8th April 2022 Canada-based Turquoise Hill Resources has formed a special committee of independent directors to consider the proposal made by the company’s majority shareholder Rio Tinto International Holdings to buy out the remainder of shares in the company. Rio Tinto in March announced an unsolicited,... 

Hydrogen, public-service reform, Zambian copper make headlines   

8th April 2022 Mining Weekly Editor Martin Creamer unpacks SFA Oxford’s Stephen Forrest's belief that hydrogen is the key to long-term use of platinum; former President Kgalema Motlanthe's statement that the process to appoint public-service managers should be reformed; and Castillo Copper's argument for copper... 

Photo of Martin Creamer
Hydrogen, public-service reform, Zambian copper make headlines

South32 prices $700m for Sierra Gorda settlement

By: Esmarie Iannucci     8th April 2022 Diversified miner South32 has priced $700-million on senior unsecured notes, due in 2032, to fund its acquisition of a 45% interest in the Sierra Gorda copper mine, in Chile. The company said on Friday that the notes will be offered to qualified institutional buyers inside of the US, and to... 

The Sierra Gorda mine

Wyloo completes Noront buy

By: Esmarie Iannucci     8th April 2022 Australia’s Wyloo Metals has completed the acquisition of TSX-V-listed Noront Resources, following a shareholder vote. Noront Resources in December entered into a binding agreement with Andrew Forrest’s Wyloo Metals, after that company’s offer was tapped as a superior bid to mining major BHP’s... 

Canada offers carbon capture tax credit to help cut emissions

By: Bloomberg     8th April 2022 Prime Minister Justin Trudeau is rolling out one of Canada’s largest single industrial tax incentives to fund carbon capture projects as his government tries to deliver on ambitious climate goals by offsetting emissions from the country’s energy sector. In a federal budget unveiled on Thursday,... 

Canada PM Justin Trudeau
Photo by Bloomberg
Canada PM Justin Trudeau

Deep-South to acquire up to 80% of three copper exploration licences in Zambia

By: Creamer Media Reporter      7th April 2022 Mineral exploration and development company Deep-South Resources has signed a definitive earn-in agreement with Word Class Minerals Venture (WCMV) to acquire up to 80% of three copper exploration licences in the Zambian Copper belt. “While reinstating the licence over the Haib copper project, in... 

Hot Chili to start trading in the US

By: Esmarie Iannucci     7th April 2022 ASX- and TSX-listed copper developer Hot Chili will start share trading on the US-based OTCQX market on April 7, under the ticker HHLKF. Hot Chili told shareholders on Thursday that the listing on the OTCQX would allow trading of the company’s securities in the local time zone for US investors,... 

Mining a big driver of Victoria economy - report

By: Esmarie Iannucci     7th April 2022 New analysis undertaken on behalf of the Minerals Council of Australia (MCA) has revealed that mining companies generated A$1-billion in value to the Victorian economy in 2020-21 while supporting thousands of jobs and businesses across the state. Victoria’s mines directly injected A$510-million... 

WA keen for precursor investments

By: Esmarie Iannucci     7th April 2022 The Western Australian government is hoping to attract investors to its planned precursor cathode active materials (pCAM) hub, in Kwinana, with Minister for Mines, Petroleum and Energy, Bill Johnston lauding the benefits of investing in the state. Speaking at the second day of Paydirt’s Battery... 

Deep-South appoints King & Spalding as international legal counsel

By: Tasneem Bulbulia     6th April 2022 TSX-V-listed Deep-South Resources has appointed King & Spalding as international legal counsel. The mandate of King & Spalding is to review the companies’ options under international law in relation to the Namibian government’s handling of the Haib copper exploration and prospecting licence and... 

British firm plans to invest $100m in Zambia mine expansion

By: Reuters     6th April 2022 Britain's Moxico Resources plans to invest $100 million to expand its majority-owned Mimbula copper mine in Zambia, UK Minister for Africa Vicky Ford said on Wednesday. The investment will create new jobs and increased tax revenues for Zambia's government, Ford said in a statement released by the... 

Orvana restarts operations in Spain

By: Creamer Media Reporter      6th April 2022 TSX-listed Orvana Minerals has restarted operations and production at its Orovalle gold/copper/silver mine, in Spain, after a nationwide truck drivers’ strike came to an end on Saturday. The transport strike started on March 14, causing a significant disruption to supply chains. Orvana reported... 

Green finance taxonomy to help investors make green project decisions – law firm 

By: Martin Creamer     5th April 2022 South Africa’s first green finance taxonomy will help investors and financial institutions make more informed decisions on ‘green’ projects, say Webber Wentzel’s Patrick Heron and Joon Chong. Heron and Chong describe the taxonomy, launched by National Treasury last Friday, as an official... 

Pictures supplied
Patrick Heron (left) and Joon Chong.

Metals, new mine investment required now to support future energy transition 

By: Donna Slater     5th April 2022 Despite the significant energy intensity required to mine metals, the commodities are still “essential for the energy transition to succeed”, says BHP market analysis and economics VP Dr Huw McKay. He says that, although having a common goal of limiting global warming to below 2 °C of... 

BHP's Spence mine

Altus reaps Newcrest acquisition reward with higher first-quarter royalty revenues

By: Donna Slater     5th April 2022 Since acquiring a portfolio of royalties from Newcrest Mining, Aim- and TSX-V-listed Altus Strategies has generated copper and gold royalty revenues of $1.7-million (pre-tax) in the first quarter of this year. Altus currently owns 33 royalty interests, including royalties on four producing mines... 

Zambia’s copper potential coming to fore again as Castillo survey shows upside 

By: Martin Creamer     5th April 2022 London- and Sydney-listed base metal explorer Castillo Copper has identified multiple copper-potential drill-testing targets at its Mkushi project in Zambia, Africa’s second-largest copper producer. Castillo stated in a release to Mining Weekly on Tuesday that the formulation of a drilling... 

Supplied picture.
Castillo Copper MD Dr Dennis Jensen.

New Century's plans for Mt Lyell take shape

By: Esmarie Iannucci     5th April 2022 Base metals miner New Century Resources on Tuesday said that initial investigations into the Mt Lyell copper mine, in Tasmania, has so far confirmed that the project could be viable. New Century is undertaking a restart study on the Mt Lyell copper project, after entering into an option... 

Canada to invest C$2bn on mineral strategy for EV battery supply chain

By: Reuters     4th April 2022 Canada's federal budget will include an investment of at least C$2-billion ($1.6-billion) for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain, two senior government sources said. Prime Minister Justin Trudeau's... 

An electric vehicle charging spot

LME introduces 15% daily price limits for all metals

By: Reuters     4th April 2022 The London Metal Exchange said it had introduced daily price limits for all its metals and would commission an independent review into the events that led to chaos in the nickel market last month. The LME has brought in 15% upper and lower daily price limits for all of its physically delivered... 

With court's backing, Ecuador's indigenous block Amazon mining

By: Reuters     4th April 2022 Armed with spears, their faces painted, members of the A'i Cofan community's indigenous guard prepare to patrol the banks of the Aguarico River in Ecuador's Amazon, ready to confiscate equipment and call in the police if they find miners on their ancestral land. "We go down (the river) and... 

Peru targets copper price windfall in dialed-back tax reform, Minister says

By: Reuters     4th April 2022 Peru, the world's no. 2 copper producer, will target "excess profits" that mining firms have gained from soaring global metals prices for extra taxation, the country's economy minister told Reuters. While President Pedro Castillo came to power last July pledging to increase taxes on the powerful... 

Minerals Council ending century-long relationship with Johannesburg CBD

By: Martin Creamer     4th April 2022 Minerals Council South Africa has begun a new era by moving into modern premises in Rosebank, Johannesburg, and closing a century-long chapter in Johannesburg’s central business district (CBD). The historic Minerals Council building, on Hollard Street– which was constructed in 1921 – will be sold. 

Creamer Media picture.
Photo by Creamer Media
Historic Minerals Council building, on Hollard Street.

Kennecott Utah Copper agrees labour deal

By: Creamer Media Reporter      4th April 2022 The United Steelworkers (USW) has ratified a new, five-year labour agreement with Kennecott Utah Copper, covering more than 1 300 hourly workers at the Rio Tinto subsidiary's mine in Salt Lake county. The new contract includes gains for workers that include lump sum payments, wage increases in... 

Kennecott Utah Copper agrees labour deal

Comet acquires Glencore project, hopes to raise cash

By: Esmarie Iannucci     4th April 2022 Junior Comet Resources has struck a deal with diversified major Glencore to acquire the Mt Margaret copper project, in Queensland, and has announced plans to raise A$50-million. Under the terms of the agreement, third-party company Minerals Mining and Metallurgy (MMM) would pay Glencore... 

Australia's energy exports on the rise - report

By: Esmarie Iannucci     4th April 2022 Australia’s resources and energy export earnings are forecast to surge to a record high A$425-billion for 2021-22. Minister for Resources and Water Keith Pitt said the latest forecast, from the Department of Industry, Science, Energy and Resources’ March 2022 edition of the Resources and Energy... 

Image shows coal exports at port

Oz Minerals increases shaft capacity at Prominent Hill

By: Esmarie Iannucci     4th April 2022 Copper gold miner Oz Minerals on Monday announced a decision to increase the hoisting shaft capacity at its Prominent Hill mine from 6-million tonnes a year to 6.5-million tonnes a year. The ASX-listed miner told shareholders that project optimisation works identified the opportunity to increase... 

Copper prices slip on China's gloomy factory activity data

By: Reuters     1st April 2022 Copper prices dropped on Friday as demand worries rose after data showed factory activity in top metals consumer China slumped last month at the fastest pace in two years, with a firm US dollar also weighing on sentiment. Other base metals also fell as investors were cautious ahead of a key US... 

Taseko hikes Gibraltar reserves 40%

By: Creamer Media Reporter      1st April 2022 TSX- and NYSE-listed Taseko Mines has reported a new 706-million ton proven and probable sulphide reserve for its Gibraltar mine, in British Columbia – a 40% increase from the end of December. The new estimate allows for a significant extension of the mine life to 23 years with total recoverable... 

Austral hauls first ore from Anthill

By: Esmarie Iannucci     1st April 2022 Copper junior Austral Resources Australia has started ore haulage from its new Anthill mine, in Queensland, to the Mt Kelly processing plant. Austral told shareholders this week that Anthill ore will start processing through the Mt Kelly plant by the end of April. 

Hot Chili adds to Costa Fuego resource

By: Esmarie Iannucci     1st April 2022 Copper developer Hot Chili has reported a 67% increase in the total indicated resource at its Costa Fuego copper-gold hub in Chile. The company this week reported that the indicated resource estimate now stood at 725-million tonnes, grading 0.47% copper equivalent, for 2.8-million tonnes of... 

Copper tightness 'is far beyond a price issue', Freeport CEO says

By: Bloomberg     1st April 2022 Freeport-McMoRan and Goldman Sachs share a bullish outlook for copper. They appear to diverge, however, on how much of an impact higher prices would have on supply growth. Goldman analyst Nicholas Snowdon told a copper conference Wednesday that current near-record prices need to go much higher... 

Freeport CEO Richard Adkerson
Freeport CEO Richard Adkerson
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