Codelco sees copper deficit at 8 million tonnes by 2032

Mining News Pro - Maximo Pacheco, chairman of the board of Codelco, said at an industry conference that while a surplus is expected in the short term due to new projects in Chile, Peru, the DRC and China’s Tibet region, medium to long-term demand will eclipse supply further down the line.

BHP tries to avert strike at Escondida copper mine in Chile

Mining News Pro - The deal with Sindicato 1, which represents more than 2,000 workers, must still be approved by members of the union, which have been called to vote on it Monday.

Copper price rebounds on weaker dollar

China’s capital Beijing shut parks and museums on Tuesday and imposed new testing requirements to enter public places such as malls and hotels as covid-19 cases climbed.

Copper price set for weekly drop on demand concerns, stronger dollar

Mining News Pro - Asian stock markets were cautious and the dollar was set for a weekly gain, after comments from Fed officials, in the wake of employment data still showing a tight US labor market, dashed investors’ hopes for less aggressive monetary policy.

Salazar, Adventus reach deal for $270m Ecuador copper-gold project

Mining News Pro - The partners said that the country’s investment institution approved last week a draft contract whose final version is expected to be signed in four months.

Codelco proposes 33% price hike for Chinese copper buyers for 2023

Mining News Pro - Refined copper stockpiles in Shanghai Futures Exchange and bonded warehouses combined were at 84,164 tonnes on Friday, not far from October’s record low of 72,159 tonnes.

Newcrest approves $140 million expansion of Telfer gold-copper operation

Mining News Pro - The company said the West Dome Stage 8 cutback should start producing ore in the current quarter — its second quarter of fiscal year 2023 — and extend Telfer’a operations into early fiscal year 2025.

Copper price falls on Chinese demand fears

Mining News Pro - The country’s zero-covid approach and lockdowns have squeezed its manufacturing sector and hit demand for industrial metals.

Blockades at Peru’s Las Bambas copper mine hit operations

Mining News Pro - Las Bambas, owned by Chinese firm MMG Ltd, is one of the largest copper mines in the world, but has suffered frequent disruptions from largely poor indigenous communities.

Responsible copper mining framework extended to nickel, zinc and molybdenum

Mining News Pro - Brülhart says smelters and refiners that have been audited are not included in this figure to eliminate the possibility of double counting as metal passes through the supply chain.

More near-term pain for copper companies despite strong fundamentals, analysts warn

Mining News Pro - Inflation will also impact results, which continued at an annualized 8.2% rate for the quarter, resulting in increased operating mine costs.

Autonomous driving boosts copper use in cars

Mining News Pro - New technologies in battery electric and hybrid vehicles and autonomous driving systems are expected to add an annual 344,000 tonnes of demand over the next decade.

Vale opens first phase of $684 million copper complex expansion in Canada

Mining News Pro - Vale, the world’s largest iron ore and nickel producer, has opened the first phase of a C$945 million ($684m) expansion at its Copper Cliff Complex South Mine in Ontario, Canada.

Copper price down on rate hike fears

Mining News Pro - Copper prices retreated on Wednesday after touching their highest in nearly two weeks due to a resurgent dollar and persistent worries that rate hikes will hit demand.

Sibanye-Stillwater eyes Zambia’s Mopani Copper Mines

Mining News Pro - Expansion-minded Sibanye-Stillwater (JSE: SSW) (NYSE: SBSW) is interested in Zambia’s Mopani Copper Mines (MCM), as the mine and smelter complex looking for new investors after Glencore sold the asset to the state mining firm ZCCM-IH in January last year.

Copper price pressured by crumbling demand

Mining News Pro - The copper price was down on Monday despite expectations of weakening demand reinforced by manufacturing data from around the world, a strong dollar, and rising inventories in warehouses approved by the London Metal Exchange.

Copper mining has a new champion in veteran Peruvian economist

Mining News Pro - Put the cautious optimism on display at Peru’s top mining event down to three main factors: easing pandemic restrictions, copper’s bright longer term outlook and a diminutive sexagenarian economist.

Copper Mountain nearly doubles BC mine resource to 1.1 billion tonnes

Mining News Pro - Copper Mountain Mining has announced updated mineral resource and reserve estimates for its 75% owned copper mine located in southern British Columbia. Based on the new reserves, the company has also provided a revised life of mine plan that supports a mill expansion scenario to 65,000 t/d from 45,000 tonnes per day.

Teck Resources may raise value of Zafranal copper project in Peru to over $2 billion

Mining News Pro - Canada’s Teck Resources is considering revising the value of its Zafranal copper project in Peru to more than $2 billion from $1.3 billion, one of its executives said Wednesday.

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.

Tertiary Minerals, FQM team up to boost copper exploration in Zambia

Mining News Pro - Shares in Tertiary Minerals jumped on Thursday after the junior said it had inked a technical cooperation agreement with First Quantum Minerals, which would “turbo-charge” its copper exploration projects in Zambia.

Chilean think-tank says Codelco pays more taxes but extracts less copper than private companies

Mining News Pro - A recent report by Chile’s Center for National Studies of Alternative Development (CENDA) shows that, between June 2021 and June 2022, Codelco was responsible for 30% of the country’s annual copper production and contributed 7.6% of the mining tax revenue while private companies extracted 70% of the copper and contributed 5% of tax revenues.

Copper market is flashing signs of tight supply

Mining News Pro - Copper spreads are spiking in a signal that physical supplies remain tight despite global economic headwinds.

The copper market is flashing signs of tight supply

Mining News Pro - Copper spreads are spiking in a signal that physical supplies remain tight despite global economic headwinds.

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