- Write by:
-
Friday, January 17, 2020 - 12:49:03 PM
-
841 Visit
-
Print
Mining News Pro - Rio Tinto mined 557,400 tonnes of copper in 2019, a 5% drop over the year before due to lower grades, which the Anglo-Australian giant could only partially offset with higher throughput.
According to Mining News Pro - All the major copper producers are plagued by aging mines and falling grades, but Rio’s Kennecott operations in Utah have become a real headache for the company.
Rio blames the sharp fourth-quarter output drop of 9% to 138.7kt on the mine and says higher grades will only be accessed by the end of 2020, resulting from the first phase of its south wall pushback project.
In December, Rio announced it is spending $1.5 billion to expand Kennecott to extend the life of the more-than 100-year-old open-pit mine near Salt Lake City from 2026 through to 2032. Kennecott accounts for nearly a fifth of US copper production.
Rio upped its spending on exploration by 28% to $624m last year, mainly on the back of work done at its Resolution copper project in Arizona, partly owned by BHP.
Short Link:
https://www.miningnews.ir/En/News/474238
Mining News Pro - CEO of Iran National Copper Industry Company said: NICICO supports any innovative and technological ...
Chilean state-run miner Codelco said on Friday that it had reached a collective contract agreement with the union ...
KoBold Metals, the Bill Gates-backed mining exploration company, could spend $2.3 billion to build a major new copper ...
Rokos Capital Management and Andurand Capital Management have been prominent among hedge funds piling into the copper ...
Sprott Inc. has launched a $100 million fund that will buy and hold physical copper, marking a comeback for a class of ...
Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the ...
London-listed Antofagasta on Wednesday signed a $1.5 billion investment deal to improve water supply at its Chile mining ...
Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in ...
China’s copper inventories are growing at exactly the time of year when they should be shrinking fast — an anomaly that ...
No comments have been posted yet ...