Newcrest acquisition to deliver $500 million in annual synergies

Mining News Pro - With the recently approved acquisition of Newcrest Mining, Newmont will be well-positioned to set the new standard for gold mining across the industry, according to its president and CEO Tom Palmer.

Codelco ends long-term mined copper deals to China clients from 2025

Mining News Pro - Chile’s Codelco is ending long-term contracts to sell copper concentrate to Chinese clients from 2025, bidding to broaden its product offering to them after evaluating its production outlook, five sources with direct knowledge of the matter said.

Panama lawmakers to visit First Quantum mine amid contract debate

Mining News Pro - Some Panamanian members of congress will visit First Quantum’s copper mine next week, as a vote looms on a contract which would guarantee the Central American government annual income of $375 million, a lawmaker said on Wednesday.

Lundin secures environmental permit to extend Candelaria mine life

Mining News Pro - Canada’s Lundin Mining (TSX: LUN) can proceed with a plan to extend the productive life of its Candelaria copper mine in Chile after local authorities approved a revised environmental impact assessment (EIA) for the operation.

Russia’s largest untapped copper deposit starts concentrate production

Mining News Pro - Copper concentrate production started at Russia’s largest undeveloped copper deposit on Monday following a ceremony overseen by President Vladimir Putin via video link.

First Quantum reaches deal with Panama copper mine union, avoids strike

Mining News Pro - The Panamanian unit of Canada’s First Quantum Minerals and a workers union at the company’s key copper mine in Panama said on Saturday they had reached an agreement, avoiding a planned strike over profit sharing and wage increases.

Strike looms at First Quantum’s copper mine in Panama on impasse in wage talks

Mining News Pro - Canadian copper producer First Quantum Minerals Ltd. faces the threat of a strike at its flagship mine in Panama this weekend if union leaders and company representatives can’t agree on a wage contract for workers at the massive operation.

Codelco seals early contract deal with El Teniente supervisors’ union

Mining News Pro - Chile’s Codelco, the world’s largest copper producer, said on Thursday it had reached an early collective bargaining agreement with the supervisors’ union at its flagship El Teniente mine, avoiding the possibility of production stoppages.

Zambia agrees to hand disputed copper assets back to Vedanta

Mining News Pro - Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, mines minister Paul Kabuswe said on Tuesday, ending a row over the ownership of the assets that erupted in 2019 when authorities seized the mines.

South African miners join race to buy Khoemacau copper mine

Mining News Pro - At least three South African miners are in the running to buy Botswana’s Khoemacau copper mine that is home to one of Africa’s largest copper deposits, several sources told Reuters, as growing demand for the metal ensures strong competition for the sought-after asset.

Europe’s top copper producer Aurubis hit by huge metals scam

Mining News Pro - Europe’s top copper producer Aurubis AG warned it may face losses in the hundreds of millions of euros after being hit by a massive scam involving shipments of scrap metal that it uses in its recycling business.

Minsur to invest at least $2bn as it expands copper, tin operations

Mining News Pro - Peruvian miner Minsur has announced an investment of at least $2 billion in five years as it expands its copper and tin operations, an executive told Reuters on Thursday.

Zijin Mining slows M&A on valuations, geopolitical risks

Mining News Pro - Zijin Mining Group Co., a leading Chinese copper and gold miner, has slowed acquisitions due to high project valuations and geopolitical tensions.

Top copper-producing nation Chile sees mining costs jump 29%

Mining News Pro - If copper mining is any indication, there’s still plenty of work to do to bring down inflation.

Billionaire Agarwal pledges to pay Zambia creditors before retaking mine

Mining News Pro - Vedanta Resources Ltd. is ready to pay $250 million owed to suppliers in Zambia as soon as it resumes control of copper mines that were seized by the southern African nation’s government more than four years ago.

Newmont gets Aussie regulatory nod for $16.8bn Newcrest deal

Mining News Pro - Gold miner Newmont Corp said on Monday it has received clearance from Australia’s competition regulator to proceed with its proposed A$26.2 billion ($16.80 billion) takeover of Newcrest Mining.

Citi buys $160 million of Russian aluminum others won’t touch

Mining News Pro - Citigroup Inc. has bought about $160 million of Russian aluminum from the London Metal Exchange, something many banks have refused to touch since the invasion of Ukraine.

Copper price set for weekly loss as China concerns sap confidence

Mining News Pro - Copper headed for a third straight weekly loss — tracking a broad slide in global risk assets — as concerns about China’s economy and widening housing crisis put markets in bearish mood.

Codelco at risk of insolvency as debt grows, CESCO report says

Mining News Pro - Chile’s Codelco, the world’s largest copper producer, is at risk of insolvency due to rising costs and a growing debt pile stemming from projects that missed output targets, Chile’s Centre for Copper and Mining Studies (CESCO) said in a report seen by Reuters.

Codelco turns to new CEO as debt piles up at top copper producer

Mining News Pro - Codelco will name its third CEO in a year in the coming weeks as Chile’s state-owned copper company struggles to turn around a slump in output and earnings. With debt at $19 billion and rising, the stakes are getting higher for bondholders.

Weak demand sends near-term LME aluminum discount to highest since 2008

Mining News Pro - The discount on aluminum for near-term delivery compared with the three-month contract on the London Metal Exchange (LME) has reached its highest since the global financial crisis of 2008, indicating weak demand and rising supply.

Freeport hit by cyberattack; impact on production limited

Mining News Pro - Freeport-McMoRan Inc. is investigating a cyberattack that has so far had limited impact on production, the copper miner said Friday.

Newcrest profit falls nearly 11% on higher operating costs

Mining News Pro - Australia’s Newcrest Mining Ltd, which has received a A$26.2 billion takeover offer from Newmont Corp, posted a near 11% fall in annual profit on Friday, hurt by lower realized prices for copper and a rise in operating and finance costs.

Codelco and Anglo American discuss mining pact to lift copper output in Chile

Mining News Pro - Codelco and Anglo American Plc are exploring options to coordinate mining activities at their adjoining copper operations in Chile in a bid to boost output and productivity, people familiar with the matter said.

Antofagasta profit jumps despite lower copper prices, boosts dividend

Mining News Pro - Chilean miner Antofagasta (LON: ANTO) posted on Thursday a 7.5% increase in half-year profit as higher copper sales more than offset lower prices for the metal, considered essential for the world’s transition to a greener economy.

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