Category: Copper

Vedanta Copper, a subsidiary of India’s Vedanta, has unveiled plans to invest $2 billion in copper-processing facilities in Saudi Arabia. This investment underscores the kingdom’s ambition to become a global hub for metals and mining, aligning with its Vision 2030 economic diversification strategy. The investment will fund the construction of a cutting-edge smelter and refinery with an annual production capacity of 400,000 tonnes of refined copper. Vedanta also plans to establish a facility capable of producing up to 300,000 tonnes of copper rods annually, a key component in electric cable… Read More Here

Panama’s President José Raúl Mulino has condemned the previous administration for mishandling the crisis surrounding First Quantum Minerals’ $6.5 billion Cobre Panama copper mine. The mine, which accounts for nearly 5% of Panama’s GDP, was shut down in 2023 after the Supreme Court deemed its concession contract unconstitutional. Mulino blamed the closure on widespread dissatisfaction with former President Laurentino Cortizo’s government, which had faced mounting protests over legal and environmental concerns tied to the project. “The mine paid the price for national discontent under a government with only 25% popularity,”… Read More Here

Peru’s copper production fell by 1.2% in September, reaching 232,423 metric tons, compared to the same month last year, according to the Ministry of Energy and Mines. Copper is a key industry in Peru, one of the world’s largest producers, which generated 2.76 million tons in 2023. The drop in output was largely driven by decreased production from Peru’s two largest copper miners: Cerro Verde, controlled by Freeport-McMoRan, and Antamina, jointly controlled by Glencore and BHP. Output from both mines declined by 11% and 6.7%, respectively, year-on-year. From January to… Read More Here

Glencore Plc is advancing a groundbreaking extraction technology at its Lomas Bayas copper mine in northern Chile, aiming to increase yields from low-grade ore. This initiative reflects the mining industry’s push to enhance productivity amidst declining ore quality and growing demand for copper in global electrification efforts. After two years of successful laboratory trials, Glencore and Ceibo, a Chilean startup backed by BHP Group, announced the commencement of large-scale on-site testing of Ceibo’s innovative leaching process. The partners have not disclosed investment figures for the project. Ceibo joins companies like… Read More Here