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Vedanta Misses Quarterly Profit Estimates Despite Revenue Growth in Aluminium and Copper 1

Vedanta Misses Profit Forecasts as Lower Aluminium and Copper Prices, Higher Taxes Weigh on Earnings Indian conglomerate Vedanta Ltd. fell short of quarterly profit expectations for the three months ending June 30, as declining aluminium and copper prices along with higher tax expenses outweighed gains from strong domestic demand. Despite reporting a 6.2% year-on-year increase in total revenue to ₹374.34 billion ($4.3 billion), Vedanta’s consolidated net profit dropped to ₹31.85 billion, down from ₹36.06 billion during the same quarter last year. Analysts polled by LSEG had expected a profit of… Read More Here

Copper Corporate News

Glencore Boosts Copper-Equivalent Output by 5%, Targets $1 Billion in Cost Cuts by 2026

July 31, 2025July 31, 2025 Constance

Glencore Reports 5% Rise in Copper Equivalent Output, Unveils $1 Billion in Cost-Saving Opportunities Diversified mining giant Glencore reported a 5% year-on-year increase in copper equivalent production for the six months ending June 30, 2025, driven by the integration of Elk Valley Resources’ steelmaking coal volumes. According to the Johannesburg Stock Exchange-listed company, steelmaking coal production totaled 15.7 million tonnes, with 12.7 million tonnes contributed by Elk Valley Resources in Canada. Australian steelmaking coal output fell 12% to 3 million tonnes, primarily due to a temporary suspension at Oaky Creek… Read More Here

International Copper Corporate News

Codelco Chairman Welcomes U.S. Decision to Exclude Copper Cathodes from Tariffs

July 31, 2025July 31, 2025 Constance

Codelco Applauds U.S. Tariff Exemption on Copper Cathodes: Positive News for Chilean Exports The chairman of Codelco, the world’s largest copper producer, expressed optimism on Wednesday regarding the United States’ decision to exclude copper cathodes from newly proposed tariffs. “A preliminary reading suggests that tariffs will not be applied to copper cathodes, allowing us as a country to continue supplying that market,” said Máximo Pacheco, chairman of Chile’s state-owned mining company, in an interview with Reuters. “It’s good news for Chile and for Codelco.” Chile is not only the world’s… Read More Here

International Copper New Mining Projects

Hercules Metals Secures Major Expansion of Leviathan Copper Belt with Barrick Gold Deal in Idaho

July 30, 2025July 30, 2025 Constance

Hercules Metals Expands Control Over Idaho’s Leviathan Copper Belt Through Strategic Deal with Barrick Gold Canadian exploration company Hercules Metals has entered a strategic agreement with Barrick Gold to consolidate control over a 73-kilometer copper belt surrounding its flagship Leviathan discovery in Idaho. Announced Monday, the deal grants Hercules the option to acquire the “Olympus” claims — over 29,950 hectares of unpatented mining ground — from Barrick’s U.S. subsidiary. The acquisition would be made through staged payments totaling C$8 million over three years. Hercules may fulfill these payments in cash… Read More Here

International Copper New Mining Projects

Fluor Finalizes Role in Barrick’s Multibillion-Dollar Reko Diq Copper Project in Pakistan

July 30, 2025July 30, 2025 Constance

Fluor Secures Final Approval for Major Reko Diq Copper Project in Pakistan with Barrick Mining U.S.-based engineering firm Fluor has received the final notice to proceed from Barrick Gold Corporation for the development of the Reko Diq copper-gold project in Pakistan, a multibillion-dollar venture expected to significantly boost the country’s mining sector. Fluor was appointed as the lead engineering, procurement, and construction management (EPCM) partner by Barrick in April. The company confirmed that it booked its portion of the contract in the second quarter of 2025. While the total contract… Read More Here

International Copper

Chile Pushes for U.S. Copper Tariff Discussions in Broader Trade Talks

July 29, 2025July 29, 2025 Constance

Chile Urges U.S. to Address Copper Tariffs in Ongoing Trade Negotiations Chile is urging the United States to include proposed copper tariffs in broader trade negotiations taking place in Washington this week, according to Finance Minister Mario Marcel. Speaking on Monday during an interview with local radio station Duna, Marcel emphasized the importance of addressing the issue as part of comprehensive trade discussions. The move comes in response to a recent announcement by the Trump administration, which plans to impose a 50% tariff on copper imports starting August 1. Chile,… Read More Here

International Copper

Glencore to Close Mt Isa Copper Mines After 60 Years as Smelter Faces Uncertain Future

July 28, 2025July 28, 2025 Constance

Glencore Nears Closure of Mt Isa Copper Mines, Smelter Future Uncertain Glencore is set to close its final two copper mines in Mount Isa, Queensland, this week, marking the end of an era for the company’s upstream copper operations in Australia. The decision comes ahead of a separate determination on the future of the region’s copper smelter, which may also be shut down. A spokesperson for Glencore confirmed that the mines—operational for more than 60 years—are being closed due to declining ore grades, rendering them economically unviable. The company first… Read More Here

International Copper Corporate News

Teck Resources Lowers Output Forecast at Chile Copper Mine Amid Operational Setbacks

July 27, 2025July 27, 2025 Constance

Teck Resources Cuts Copper Production Forecast at Quebrada Blanca Mine Due to Tailings and Equipment Issues Teck Resources Ltd. has reduced its 2024 production guidance for its flagship Quebrada Blanca copper mine in Chile, citing ongoing operational challenges that continue to hinder its ramp-up efforts. The large-scale open-pit mine, known as QB2, is located in the high Andes and is experiencing issues related to tailings storage. In its latest earnings statement and conference call on Thursday, Teck disclosed that these issues are not only requiring additional spending but are also… Read More Here

International Copper Corporate News Diamond

Anglo American Sees Copper and Diamond Output Slide as Restructuring Efforts Continue

July 27, 2025July 27, 2025 Constance

Anglo American Reports 13% Drop in Copper Output and 26% Fall in Diamond Production Amid Sluggish Demand Anglo American, the London-listed global mining giant, reported a 13% decline in copper production and a 26% drop in rough diamond output for the first half of 2025, reflecting continued weakness in global demand. Copper output fell to 342,200 metric tons, down from the same period last year. However, the company reaffirmed its full-year copper production guidance of 690,000 to 750,000 tons, slightly lower than the 773,000 tons mined in 2024. Copper remains… Read More Here

International Copper Corporate News

FQM Projects $18M Monthly Cost to Maintain Closed Cobre Panama Mine

July 27, 2025July 27, 2025 Constance

First Quantum Sees Monthly Maintenance Costs Rise at Panama Copper Mine Canadian mining company First Quantum Minerals announced on Wednesday that it expects monthly costs related to the upkeep of its closed Cobre Panama copper mine to rise to approximately $17 million to $18 million. This increase follows Panama’s approval in May of the company’s Preservation and Safe Management (P&SM) plan, which permits First Quantum to export copper concentrate stored at the site and restart the thermoelectric power plant at the mine. Cobre Panama has been shut since 2023, after… Read More Here