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Category: Copper

Mercuria and Glencore Renew Copper Deal with Gécamines 1 Mining in DRC Copper 

Mercuria and Glencore Renew Copper Deal with Gécamines

Constance
Mercuria Energy Group Ltd. and Glencore Plc have renewed their agreement to purchase copper from the Democratic Republic of Congo’s state-owned miner, Gécamines. This move aligns with Gécamines’ strategy to independently market its share of output from joint ventures. According to sources familiar with the matter, the two commodity traders successfully bid for copper from the Tenke Fungurume mine, which is majority-owned by China’s CMOC Group Ltd. Mercuria secured 50% of Gécamines’ allocated copper, while Glencore obtained 25%. The remaining 25% has yet to be assigned. These allocations mirror last… Read More Here
Vedanta CEO Visits KCM to Strengthen Commitment to Mine’s Future 2 Mining in Zambia Copper Corporate News News in Brief 

Vedanta CEO Visits KCM to Strengthen Commitment to Mine’s Future

Constance
Vedanta Resources Group CEO, Deshnee Naidoo, visited Konkola Copper Mines (KCM) operations in Chingola and Chililabombwe last week to gain firsthand insight into the mine’s operations. Her visit follows her recent appointment to lead Vedanta’s expansion projects. Accompanied by a high-level delegation, including Vedanta Base Metals CEO Christopher Griffith, KCM Chief Operating Officer Malcolm Mewett, and other senior officials, Naidoo’s visit reaffirmed Vedanta’s strong commitment to the future of KCM and its strategic growth plans. Read More Here
Ecora Seals $50M Copper Stream Deal for Zambia’s Mimbula Mine 3 Mining in Zambia Copper New Mining Projects 

Ecora Seals $50M Copper Stream Deal for Zambia’s Mimbula Mine

Constance
Critical minerals-focused royalty company Ecora has finalized a $50-million copper stream agreement with Moxico Resources for its Mimbula Mine in Zambia. The deal covers Mimbula’s existing reserve-based life-of-mine (LoM) of 11 years and will support its ongoing expansion. Mimbula’s Phase 1 began producing copper in late 2022 and achieved 14,000 tonnes in 2024. Production is expected to ramp up to a steady 56,000 tonnes per year of copper cathode by mid-2026, following the completion of a Phase 2 brownfield expansion. London-listed Ecora stated that proceeds from the transaction will strengthen… Read More Here
Panama Explores New Solutions for First Quantum’s Copper Mine 4 International Copper 

Panama Explores New Solutions for First Quantum’s Copper Mine

Constance
Panama’s President Jose Raul Mulino announced that his administration is considering “novel ideas” for handling First Quantum Minerals’ Cobre Panama copper mine, while insisting that the company drop its arbitration cases before negotiations can proceed. Speaking in Panama City on Thursday, Mulino stated that he plans to visit communities impacted by the mine’s closure. Since the late-2023 shutdown, following a constitutional court ruling against its operating contract, local suppliers have suffered heavy losses. Many businesses have shut down or written off significant inventory, underscoring the mine’s role as a key… Read More Here
US Copper Tariff Threat Spurs Global Trading Surge 5 International Copper 

US Copper Tariff Threat Spurs Global Trading Surge

Constance
Top commodity traders are seizing a significant profit opportunity by shipping copper to the US from locations as far as Asia, driven by President Donald Trump’s potential import tariffs on the metal. On February 24, 2025, the gap between US copper prices and those on the global market widened sharply after Trump ordered the Commerce Department to examine possible tariffs. On February 25, New York’s Comex saw prices surge by as much as 4.9%, reaching more than $1,000 per ton above the London Metal Exchange (LME) benchmark, which rose 1.2%… Read More Here
Panama President Delays Decision on Cobre Panama Mine Amid Social Security Reform 6 International Copper 

Panama President Delays Decision on Cobre Panama Mine Amid Social Security Reform

Constance
Panama’s President, José Mulino, has stated that a decision regarding the future of the Cobre Panama mine will only be made once the country’s social security policy issue is resolved. This announcement came after a meeting with a group of suppliers, including Abel Oliveros, who were seeking clarity following the mine’s closure due to public protests. The office of the president did not immediately respond to a request for comment. The Cobre Panama mine, once the largest and newest copper mine globally, has been shut down since 2023 following environmental… Read More Here
BHP Launches $10.8 Billion Investment to Sustain Copper Output in Chile 7 International Copper Corporate News 

BHP Launches $10.8 Billion Investment to Sustain Copper Output in Chile

Constance
BHP Group is set to begin a $10.8 billion investment program in Chile, starting with the modernization of an aging copper plant at its Escondida mine. The move comes as the world’s largest mining company battles declining ore quality while striving to maintain production levels. During a site visit on Tuesday, Chilean Finance Minister Mario Marcel joined BHP officials, who confirmed that the $2 billion-plus upgrade of the Escondida concentrator would soon enter environmental approval processes. While BHP’s long-term investment plans in Chile have been known, Tuesday’s announcement marks the… Read More Here
FQM Ramps Up Efforts to Reopen $10 Billion Cobre Panama Mine 8 International Copper Corporate News 

FQM Ramps Up Efforts to Reopen $10 Billion Cobre Panama Mine

Constance
First Quantum Minerals and its workers and suppliers in Panama are intensifying efforts to restart operations at the $10 billion Cobre Panama copper mine, more than a year after its closure. The company has shifted from a low-profile approach to a more visible public relations campaign, including mass mine visits and public outreach events, according to Maru Galvez, Public Relations Manager for Cobre Panama. The strategy appears to be working, with a recent community survey showing 96% support for the government renegotiating the mine contract. Despite these efforts, First Quantum… Read More Here
Zambia Police Pledge Support to First Quantum Minerals in Kalumbila 9 Mining in Zambia Copper 

Zambia Police Pledge Support to First Quantum Minerals in Kalumbila

Constance
The North-Western Division of the Zambia Police has pledged continued support for First Quantum Minerals Limited (FQML) and its mining investments. This commitment was made during a courtesy visit to FQML’s operations in Kalumbila at the FQM Trident Limited site, which includes the Sentinel Copper and Enterprise Nickel Mines. The delegation, led by newly appointed Commissioner of Police Paul Achiume, included Deputy Commissioner Desmond Mwanza and Senior Assistant Commissioner Kennedy Mumbi. The visit aimed to familiarize the team with the operations of the mines. Upon arrival, the team was welcomed… Read More Here
Tertiary Minerals Advances Deep Drilling at Konkola West Copper Project 10 Mining in Zambia Copper New Mining Projects 

Tertiary Minerals Advances Deep Drilling at Konkola West Copper Project

Constance
Aim-listed Tertiary Minerals has reported significant progress in drilling at its Konkola West copper project in Zambia, with hole KWDD001 now exceeding 2,600 meters in depth. The drill is currently advancing through the Kitwe Formation, which forms the upper part of the Lower Roan Subgroup, a key copper-bearing geological unit in the Zambian Copperbelt. The drill hole is currently in the Shale with Grit unit of the Kitwe Formation, which typically lies 25 m to 225 m above the Ore Shale, the primary copper-hosting layer in the Konkola area. The… Read More Here

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