OZ Minerals gives green light to $1.1 billion copper project

Mining News Pro - OZ Minerals Ltd., the target of a takeover attempt by BHP Group Ltd., has approved a A$1.7 billion ($1.1 billion) investment to develop its West Musgrave copper-nickel project in Western Australia.

Glencore buys Newmont’s stake in Argentina copper-gold project

Mining News Pro - Mining and commodities giant Glencore is buying Newmont’s minority stake in the Argentinean MARA cooper-gold project, a joint venture created in 2020 between the two companies and Yamana Gold.

Russian aluminum dilemma for Europe’s buyers

Mining News Pro - Europe’s power crisis, production cuts, and shortages of aluminum have left consumers in a quandary about Russian supplies of the metal vital for the region’s transport, construction and packaging industries.

Yunnan asks aluminum producers to cut power usage

Mining News Pro - China’s southwestern province of Yunnan has ordered producers of electrolytic aluminum to reduce their power usage this week, the companies told Reuters on Tuesday.

Commodity markets are contending with a growing liquidity crisis

Mining News Pro - Commodity markets are struggling to shake their months-long liquidity crisis that’s brought an era of erratic swings in the value of the world’s raw materials.

Ancient remains found at Glencore’s project in Argentina

Mining News Pro - A mine worker at Glencore’s El Pachón copper and molybdenum project in Argentina’s San Juan province bumped into human remains while performing some road cleaning duties over the weekend.

Workers at Chile’s Escondida copper mine threaten to strike

Mining News Pro - Workers at BHP’s sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine’s union said.

Copper price rises on weaker dollar

Mining News Pro - The copper price rose on Tuesday on a weaker dollar and expectations for better metals demand after Chinese policymakers said they would accelerate infrastructure investment.

Aluminum stocks jump as traders eye shift from shortage to glut

Mining News Pro - A jump in London Metal Exchange aluminum inventories is adding to mounting evidence of weakening demand for one of the world’s most important industrial metals, while some key buyers are trying to shun Russian supplies.

Copper Innovation Hub launched in Colombia

Mining News Pro - Ten companies from Colombia, Chile, Peru, Sweden, New Zealand and Australia have launched the Copper Innovation Hub, an initiative led by consultancy firm Quintil Valley.

How machine learning can help identify new, deeply buried porphyry copper deposits

Mining News Pro - A recent study published in the Journal of Geophysical Research: Solid Earth, presents two novel machine learning techniques to identify new, deeply buried porphyry copper deposits by characterizing magma fertility.

Turquoise Hill minority shareholder ‘not interested’ in Rio Tinto’s $3.3bn offer

Mining News Pro - A minority shareholder of Turquoise Hill Resources Ltd said on Friday it does not support Rio Tinto’s latest sweetened offer to buy the rest of the Canadian miner for $3.3 billion.

McEwen lands Rio Tinto venture for Argentina-focused copper unit

Mining News Pro - Canadian mining entrepreneur Rob McEwen landed a big fish for his new copper unit, with a Rio Tinto Group venture set to take an almost 10% stake for $25 million as major producers line up new deposits to meet demand growth.

Rio Tinto to pay $3.3 billion for full Turquoise Hill ownership

Mining News Pro - Rio Tinto has reached an in-principle deal with Turquoise Hill to buy the 49% of the Canadian miner it doesn’t already own for $3.3 billion.

New aluminum-sulphur battery developed to lower cost of energy storage

Mining News Pro - An international team of researchers led by scientists at the Massachusetts Institute of Technology has developed a new kind of battery, made entirely from abundant and inexpensive materials.

Over 20% of world mined copper now comes from sustainable operations

Mining News Pro - More than 20% of the world’s mined copper production now comes from sites that carry out responsible, sustainable mining practices, Copper Mark said on Tuesday.

More study needed to explain origin of Chile sinkhole, says Lundin unit president

Mining News Pro - Multiple factors could have caused a sinkhole near a copper mine in Chile owned by Canada’s Lundin Mining, the president of the miner’s local unit said, disagreeing with a government assessment that it was likely responsible for the phenomenon.

Peru lowers 2022 growth forecast and abandons mining tax hike plan

Mining News Pro - Peru on Thursday lowered the country’s economic growth forecast to 3.3% this year, the finance minister said, and officially abandoned a plan to hike taxes on the mining industry amid falling metal prices, high inflation and slowing growth.

Copper price down on manufacturing slowdown in China

Mining News Pro - The copper price slipped on Monday as worries about a manufacturing slowdown in China dominated sentiment.

MMG’s troubled Las Bambas copper mine in Peru still has no timeline for expansion

Mining News Pro - Chinese miner MMG said on Thursday it still has no time frame for when it will be able to build a second open pit to ramp up production at its Las Bambas mine in Peru.

Copper deficit a critical destabilizing threat to international security

Mining News Pro - Copper scarcity may emerge as a key destabilizing threat to international security in the 21st century, an analysis by S&P Global found this week.

BHP sees copper market “take-off” by mid-2020s “if not earlier”

Mining News Pro - After falling to 20-month lows in July, copper fought its way back to the $8,000 a tonne last week on hopes the worst of the slowdown in China was over. But now the bellwether metal is flirting with a bear market again — with a nearly 20% decline so far in 2022.

Codelco will resume construction in ‘coming days’ after fatal accidents

Mining News Pro - Chilean state-owned Codelco, the world’s largest copper producer, expects to resume construction of mining projects in the coming days after two fatal accidents paused work last month, the chairman of the board said on Wednesday.

10% increase in hydrate production in Iran Alumina Company in the first quarter

Mining News Pro - 105 thousand tons of hydrate (aluminum hydroxide) were produced in this complex in the first quarter of this year, which increased by 10 compared to the same period last year.

Gold price drops with China slowdown, Fed minutes in focus

Mining News Pro - Gold dropped on Monday as investors assessed signs that China’s economy is struggling to recover ahead of minutes from the US Federal Reserve later in the week.

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