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Category: Copper

FQM seeks to speed up Peru projects after Panama debacle 1 International Copper 

FQM seeks to speed up Peru projects after Panama debacle

Constance
Canadian miner First Quantum Minerals, which lost the right to operate its copper mine in Panama last year following protests by environmental groups and a court ruling deeming its contract void, is seeking to speed its copper projects in Peru, a company executive said on Wednesday. One of the three largest global copper producers, First Quantum in Peru controls the La Granja project, worth at least $2.5 billion, and the $1.86 billion Haquira project. “These are projects that need to be accelerated,” said the mining company’s project development director, Steven… Read More Here
Six new large mines need to come online annually by 2050 to meet global copper demand – study 2 International Copper 

Six new large mines need to come online annually by 2050 to meet global copper demand – study

Constance
A study by researchers at the University of Michigan and Cornell University has found that copper cannot be mined quickly enough to keep up with current US policy guidelines to transition the country’s electricity and vehicle infrastructure to renewable energy. The paper, published by the International Energy Forum, examined 120 years of global data from copper mining companies and calculated how much copper the US electricity infrastructure and car fleet would need to upgrade to renewable energy. It found that renewable energy’s copper needs would outstrip what copper mines can… Read More Here
Energy Deficits and Production Challenges Impact DRC's Mining Sector 3 Mining in DRC Cobalt Copper Zinc 

Energy Deficits and Production Challenges Impact DRC’s Mining Sector

Constance
From 2022 to 2023, mining production in the Democratic Republic of Congo (DRC), particularly in the Haut-Katanga province, experienced both growth and stagnation due to numerous challenges, especially the energy deficit linked to the deteriorating network of the national electricity company (SNEL). During the general and elective assembly of the Federation of Congolese Enterprises (FEC), Patrick Muland Kabey, re-elected as provincial President, acknowledged that the mining sector has seen delayed growth over the past two years. According to FEC statistics, mining products such as cobalt and copper, which are critical… Read More Here
Who Truly Benefits from DRC's Mineral Wealth? 4 Mining in DRC Battery Metals Cobalt Copper 

Who Truly Benefits from DRC’s Mineral Wealth?

Constance
In 2023, the Democratic Republic of Congo (DRC) ranked second globally in copper and cobalt exports, according to the Central Bank of Congo (BCC). However, this raises a critical question: who actually benefits from the DRC’s mineral wealth? To answer this, MINES.CD examined Lualaba, the world capital of cobalt and a major hub for the DRC’s mining industry. This region, part of the former Katanga province, is rich in copper and cobalt, mined by multinationals such as Sicomines, Commus, Mutanda Mining, KCC, Kamoa, Tenke Fungurume Mining, Metalkol, and Ruashi Mining.… Read More Here
Billionaire-backed KoBold, Midnight Sun team up for Zambia copper discovery 5 Mining in Zambia Copper New Mining Projects 

Billionaire-backed KoBold, Midnight Sun team up for Zambia copper discovery

Constance
KoBold Metals, a US-based startup supported by high-profile investors such as Bill Gates and Jeff Bezos, is venturing into Zambia’s rich copper belt. In February it partnered with Canada’s Midnight Sun Mining (TSXV: MMA) to explore the promising Dumbwa target within the Solwezi copper project. This strategic alliance will leverage KoBold’s advanced data science techniques and Midnight Sun’s extensive local experience. The goal is for KoBold to earn a 75% stake in the Dumbwa target by investing $15 million in exploration and making $500,000 in cash payments over 4.5 years.… Read More Here
Copper 360 Names Shirley Hayes as Executive Chairperson 6 Copper Mining Personality 

Copper 360 Names Shirley Hayes as Executive Chairperson

Constance
Copper 360 has appointed Shirley Hayes as its new executive chairperson. Previously serving as nonexecutive chairperson, Hayes’ role has been elevated to meet the increased demands of the company’s operations. The copper producer stated that this change comes as the commissioning of two new plants at Copper 360’s mining operations requires significant attention from the executive team. Hayes has been tasked by the board to oversee the capital requirements for the Rietberg mine and to lead the move into production at the site. Read More Here
Zijin Mining Increases Copper Output Targets Amid Soaring Prices 7 International Copper 

Zijin Mining Increases Copper Output Targets Amid Soaring Prices

Constance
China’s leading copper miner, Zijin Mining Group, has raised its output guidance as copper prices rally toward record highs due to expected supply deficits. In a recent filing to the Shanghai Stock Exchange, Zijin announced plans to boost mined copper production to 1.22 million tons by 2025, a 4% increase from its previous target. The company projects that by 2028, output will surge to between 1.5 and 1.6 million tons, marking a roughly 50% increase from 2023 levels. The Fujian-based company attributed the revisions to strong fundamentals and capacity expansion… Read More Here
Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia 8 Mining in Zambia Copper New Mining Projects 

Tertiary Minerals Receives Environmental Approval for Mupala Copper Project in Zambia

Constance
Tertiary Minerals, an AIM-listed mineral exploration and development company, has secured approval for the environmental project brief (EPB) for its Mupala Copper Project in Zambia. This milestone allows Tertiary Minerals to commence mineral exploration activities at the Mupala project, following the approval granted by the Zambia Environmental Management Agency. The approval comes after obtaining a letter of consent from the Sailunga Chiefdom earlier this year. Preparations are underway to kickstart work programs next month, which will include soil sampling to verify identified anomalies and assist with surface regolith mapping. Situated… Read More Here
Zambia's Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers 9 Mining in Zambia Copper Transport and Logistics 

Zambia’s Mining Industry Faces Scrutiny Over Exclusion of Local Truck Drivers

Constance
Zambia’s mining industry, a key driver of the nation’s economy, is facing scrutiny over the exclusion of Zambian truck drivers from import and export operations. The Parliamentary Committee on Transports, Works, and Supply has raised concerns about this issue, which came to light during a meeting between the committee, led by Chairperson Mubika Mubika of the Shang’ombo constituency, and the management of Mopani Copper Mines. The committee found that Zambian truck drivers were systematically overlooked for hauling goods and services, hindering local business opportunities and overall economic growth. In response,… Read More Here
Trafigura and IXM Scramble to Cover Short Positions as Copper Prices Hit Record Highs 10 International Copper 

Trafigura and IXM Scramble to Cover Short Positions as Copper Prices Hit Record Highs

Constance
Commodity traders Trafigura and IXM are seeking to buy physical copper to cover substantial short positions on the US exchange CME, where copper prices reached unprecedented levels on Wednesday, according to five sources with direct knowledge of the matter. Short positions can represent bets on declining prices or producers hedging their output. A short squeeze occurs when holders of these positions are compelled to buy them back at a loss or deliver physical copper to close them out. Copper prices on COMEX, part of the CME Group, soared to a… Read More Here

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