Congo, Chinese partners sign reviewed Sicomines copper-cobalt joint venture agreement

Democratic Republic of Congo and Chinese investors on Thursday signed an agreement reached in January that revises some terms of their Sicomines copper and cobalt joint venture, Congo’s Infrastructure Minister Alexis Gisaro Muvunyi said on Thursday.

Exxaro still keen on copper after Botswana setback

South African coal miner Exxaro Resources is considering potential deals to acquire copper and manganese assets as part of its diversification strategy, chief executive Nombasa Tsengwa said on Thursday.

Copper price soars to 7-month high on China’s plans to cut output

Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the world’s mined copper, agreed on a joint production cut.

China’s top copper smelters agree on rare joint production cuts

Chinese top copper smelters on Wednesday came to a rare agreement to jointly embark on production cuts at some loss-making plants as they seek to cope with a shortage of raw material, according to sources with knowledge of the plans.

Copper fees plunge close to zero in test for China’s smelters

China’s copper smelters are at a critical juncture after fees for processing imported ore collapsed to single figures, raising focus on whether they will keep resisting pressure for production cuts.

Peru copper output seen growing to 3mt in 2024, minister says

Peru’s copper production should reach 3 million metric tons this year after hitting 2.76 million tons in 2023, energy and mining minister Romulo Mucho said in a news conference on Friday.

Panama asks First Quantum to suspend visitor program at disputed copper mine

Panama said on Wednesday it had asked First Quantum Minerals to suspend a visitor program launched last month at the disputed Cobre Panama mine, saying the miner did not consult the government before starting the community relations initiative.

China’s copper smelters to discuss production cut as fees slump

China’s biggest copper smelters are set to meet in Beijing next week to discuss measures to counter a plunge in ore processing fees to the lowest level in years, including potential production cuts.

Sprott Asset Management launches copper miners ETF

Sprott Asset Management has launched a Copper Miners exchange-traded fund (ETF), with Freeport-McMoRan, Antofagasta and Southern Copper Corp as its top holdings by weight, it said on Wednesday.

China’s copper processing fees could recover from 2nd quarter

Fees to process copper concentrate in China, which have plummeted to their lowest level in over a decade due to short supply, could recover in the second quarter when maintenance season begins, industry experts said.

Adani’s $1.2bn copper smelter to import concentrates from Peru, Chile

Indian billionaire Gautam Adani’s group will source copper concentrates from Peru, Chile and Australia to kick-start its $1.2 billion copper smelter, the world’s biggest single-location plant of its type, a top company official said.

Zambian president calls rail link connecting copper mines to Angolan port ‘once-in-lifetime’ break

Zambian President Hakainde Hichilema said a US-backed project to connect Zambia’s copper mines to an Angolan port offers the nation a “once-in-a-lifetime” opportunity.

First Quantum inks $500 million copper deal with Jiangxi amid Panama mine struggles

First Quantum Minerals (TSX: FM) said on Wednesday it would get a $500 million injection from Jiangxi Copper, the Canadian miner’s largest shareholder, that will help it to shore up finances.

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.

First Quantum touts interest in its Zambia copper operations

First Quantum Minerals Ltd. has attracted interest from multiple parties wanting to buy a minority stake in its Zambian copper operations, as the Canadian miner continues efforts to shore up its balance sheet.

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.

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