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.

Copper price bounces as analysts see short covering fueling big gains

Copper extended a weekly gain, with some analysts predicting that the market could soon turn decisively higher as bearish investors are forced to unwind heavy bets against the metal viewed as a global economic bellwether.

Gecamines offers to buy some of Khazakh miner ERG’s copper assets

Congo state miner Gecamines said it has made a firm proposal to buy some of Eurasian Resources Group’s copper and cobalt assets in the country in a bid to claw back projects owned by partners and build reserves in metals key to the green transition.

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.

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 American explores for copper, cobalt in Zambia

Anglo American is in the early stages of exploring for copper and cobalt in Zambia’s North-Western province, its chief executive officer Duncan Wanblad said on Monday.

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.

Glencore reports lower 2023 copper, nickel, cobalt output; flags further falls

Miner and trader Glencore on Thursday reported lower copper, nickel and cobalt production in 2023 and signalled a further decline in output this year.

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.

Copper market a ‘powder keg’ ready to explode, says Friedland

The physical market for copper is “very, very tight and now in deficit”, and with the Federal Reserve rate cut on the horizon, the metal is set to explode this year, said Robert Friedland in an interview with Bloomberg this week.

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.

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.

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.

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.

Taseko inks $50m royalty deal for Florence copper mine construction

Taseko Mines has inked a deal with Taurus Mining Royalty Fund that would allow the Canadian miner to speed up construction of its Florence copper mine in Arizona, US.

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.

Peru copper production in November up 10.9% from year ago

Copper production in Peru rose 10.9% in November from the year-ago month to 253,582 metric tons, the Andean nation’s mining ministry said on Friday.

China copper smelter margins squeezed by tight supply of raw material

Competition for mined copper supplies is expected to intensify, further eroding margins for Chinese firms that produce half the world’s refined copper, but significant output cuts that tighten the metal market are unlikely.

Codelco reaches deal with supervisors union at Chuquicamata copper mine

Chile’s state-owned Codelco, the world’s largest copper producer, said on Friday it had reached an agreement on a new contract with the union representing supervisors in its Chuquicamata division.

First Quantum to present initial preservation plan for Panama copper mine

The Panama unit of Canadian miner First Quantum Minerals said Wednesday that it will present to government officials the first phase of its mine preservation plan on Jan 16, according to a statement, after its project was ordered closed last year.

Buenaventura sees Antofagasta as ally in copper growth plans

Mining News Pro - After a few weeks digesting Antofagasta Plc’s surprise entry into its shareholder register, Buenaventura sees the new investor as an ally in its copper growth plans rather than a rival eying control of the Peruvian firm.

Nickel is year’s biggest metals loser, copper manages small gain

Mining News Pro - In a mostly lackluster year for metals trading, nickel emerged as the worst performer and might not see a reprieve anytime soon.

Chile’s copper output down 3.1% in November

Mining News Pro - Copper output in Chile, the world’s largest producer of the red metal, decreased 3.1% year-on-year in November to 444,905 metric tons, the country’s INE statistics agency said on Friday.

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