Category: Copper

Anglo American (LON: AAL) submitted an environmental impact declaration before Chile’s Environmental Assessment Service (SEA), which is aimed at accelerating the tailings removal process from the Pérez Caldera Dam at its Los Bronces mine; adapting the operation’s water supply so that it functions with desalinated water; and repowering the recovered water system. In a statement sent to local media, Anglo American said that the $1.1 billion plan will pay special attention to re-pulping or moving mineral pulp or tailings from the Pérez Caldera dam to the Las Tórtolas tailings dam.… Read More Here

The Minister of Minerals and Energy in Botswana, Honorable Lefoko Moagi, has granted approval for the acquisition of Khoemacau by the Hong Kong-listed company MMG Limited. In a recent development announced in late November, MMG and Khoemacau confirmed their agreement for MMG to acquire 100% ownership of Cuprous Capital, the holding company of Khoemacau Copper Mine. MMG disclosed that the purchase agreement involves a substantial consideration of $1.89 billion (approximately P25 billion) for this acquisition. However, the acquisition is contingent upon several approvals, including the crucial change in control of… Read More Here

Great Southern Copper PLC (LSE:GSCU) chief executive Sam Garrett cheered a “very positive first half” as the explorer filed its interim results covering the six-month period ended 30 September 2023. “We continue to make strong progress across our prospects and in particular at Especularita where our exploration campaigns have delivered encouraging results and helped to delineate promising prospects for further exploration,” he said in a statement. “In addition to these projects, during the period we also took our first foray into lithium with the acquisition of an option over the… Read More Here

Copper prices spiked on Wednesday to their highest level in over four-and-a-half months on restocking in China and firmer physical demand. Three-month copper on the London Metal Exchange was little changed at $8,591 per metric ton by 1200 GMT after touching $8,665, the highest since Aug. 4. Copper for delivery in March rose on the Comex market in New York, touching $3.94 per pound ($8,668 per tonne), up 0.2% compared to Tuesday’s closing. China bought more copper in November, growing copper cathode imports by 13.5% from October to 378,791 tons,… Read More Here

Panama’s government hasn’t provided a legal basis to First Quantum Minerals Ltd. for pursuing a closure plan for its giant copper mine in the country, according to the metals producer. First Quantum has been unable to formally engage with the Central American government to clarify the legal situation and associated environmental obligations for its Cobre Panama mine, the Vancouver-based company said Friday in a statement. First Quantum’s statement comes two days after Panama’s Ministry of Commerce and Industries said it was pursuing a closure plan that will take several months… Read More Here