First Quantum re-shuffles management at Zambian operation

First Quantum Minerals Ltd (FQM) is re-shuffling top-tier personnel at its Zambian operations in a bid to tackle production and safety shortfalls in the South African country, an internal memo seen by Reuters showed.

Peru approves $2 billion Antamina copper mine expansion

Peru’s environmental watchdog has granted Antamina, the country’s largest copper-zinc mine, a long-awaited permit that allows it to kick off a $2 billion expansion to extend the operation’s productive life from 2028 to 2036.

First Quantum mine shutdown piles pressure on Panama’s rating, Fitch says

The shutdown of a major First Quantum mine in Panama has reinforced downward pressure on the country’s ‘BBB-‘ rating and its deficit forecast, Fitch Ratings said on Friday, warning of slower near-term growth prospects and government weaknesses.

Codelco logs December production setback

Chile’s top copper miners closed out 2023 unevenly, with state-run copper miner Codelco logging a setback in December, according to figures released on Monday by the Chilean Copper Commission (Cochilco).

US to commit more funds to African rail link for metal exports

The United States will provide more funds for the construction of the Lobito Corridor, a rail link to export metals from Central Africa’s Copperbelt, including a link for Zambia, US energy envoy Amos Hochstein said.

Capstone raises $265 million to advance Chilean copper projects

Capstone Copper, alongside shareholders Orion Fund JV Ltd., Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP, has announced the closing of their recently arranged bought deal to support the company’s near-term growth initiatives in Chile.

Pressure groups sue LME for allowing trade of ‘polluting’ Indonesian metal

Two pressure groups have filed a legal action against the London Metal Exchange (LME) for allowing the sale on its platform of metal produced in Indonesia that they allege is polluting local rivers used by indigenous communities, they said on Thursday.

China’s copper plants consider cuts after years of breakneck growth

Years of relentless growth are finally catching up with China’s copper smelters.

Anglo CEO says he can run sprawling miner better than any activist

Anglo American Plc’s boss said he’s the best person to reshape the century-old miner — if needed — as slumping commodity prices pressure its sprawling operations and spark murmurs about activist intervention.

Chile battles forest fires in deadliest disaster in 14 years

Authorities in Chile’s Valparaiso region extended stay-at-home orders as forest fires continue to rage into Sunday. At least 99 people have been killed in the country’s deadliest disaster since a massive earthquake in 2010.

New process turns scrap aluminum into usable construction materials

Twisted aluminum mesh, banged-up bicycle frames and used car parts languishing in junk yards could gain new life as building structures such as door and window frames, facades, lighting and decorative features thanks to a new patent-pending technology developed at the US Department of Energy’s Pacific Northwest National Laboratory (PNNL).

Hedge funds ramp up copper bets as supply shocks reverberate

A number of hedge fund managers are betting that copper stocks are significantly undervalued, as they position themselves for gains this year.

Zambia seeks to restructure Glencore debt with new Mopani investor

Zambia is seeking to restructure a $1.5 billion debt owed by Mopani Copper Mines to Glencore, which arose from its acquisition of Mopani in 2021, state-owned mining firm ZCCM-Investment Holdings (ZCCM-IH) said on Friday.

Codelco pays heavy price for ramping up debt burden to fund over-budget projects

Codelco is paying a high price for increasing its already heavy debt load to finance late and over-budget projects that are needed to maintain its status as the world’s biggest copper supplier.

First Quantum to sell 120,000 tons of copper in Panama mine

Canadian miner First Quantum Minerals said on Monday it intends to sell the 120,000 tons of copper concentrate stored near the Punta Rincon port.

Funds sell copper as weak demand trumps supply pressures

Funds are adopting an increasingly bearish stance in the copper market, preferring to focus on a globally weak demand picture rather than signs of supply-chain stress.

Rio Tinto taps Australia’s largest solar farm to power aluminum assets

Rio Tinto on Wednesday announced a deal to buy power from a new solar farm in Queensland as it seeks to green its aluminum operations on the country’s east coast and halve its direct and indirect emissions by 2030.

Codelco places $2bn in bonds as miner aims to boost copper output

Chile’s Codelco, the world’s largest copper producer, placed $2 billion in unsecured dollar-denominated debt maturing in 12 and 29 years on Tuesday, the miner said in a statement confirming an earlier report from capital markets publication IFR.

Aurubis moves to terminate CEO’s contract after copper scam

Aurubis AG is preparing to terminate the contract of its chief executive and two other executive board members, as the copper producer seeks to move on from a giant raw-material scam.

First Quantum shareholder SailingStone told miner about ‘missed opportunities’

SailingStone Capital Partners, one of First Quantum Minerals’ FM.TO largest shareholders, said on Monday it had told the Canadian miner about historic “missed opportunities” in the management of its balance sheet and a range of options to bring down its leverage.

Codelco to invest $720 million more in Chuquicamata copper mine

Chile’s state-owned Codelco, the world’s largest copper producer, submitted an environmental permit request on Thursday to modify its Chuquicamata Subterranea project at a cost of $720 million.

First Quantum submits copper mine preservation plan to Panama government

Canadian miner First Quantum has delivered an initial preservation and management plan to the Panamanian trade ministry regarding its lucrative copper mine in the country, the miner’s Panamanian unit said on Wednesday.

First Quantum offers voluntary retirement to over 1,500 Panama mine staff

First Quantum Minerals, opens new tab on Tuesday offered voluntary retirement to more than 1,500 employees at its key Panama mine, a day after announcing a major restructuring to conserve cash, which included suspension of dividends.

Cochilco raises 2024 copper price projection to $3.85/lb

The state-run Chilean Copper Commission (Cochilco) said on Monday it was raising its projections for 2024 copper prices to $3.85 per pound, up from $3.75.

Australia sends biggest copper concentrate shipment to China since 2020

Australia exported 27,500 metric tons of copper ores and concentrates worth $44.5 million to China in November, the most for any month since China imposed an informal ban in 2020, Australian customs data showed.

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