International - Copperbelt Katanga Mining

Peru's Copper Production Declines 1.2% in September Amid Output Slumps from Top Miners 1

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

BHP CEO Mike Henry Foresees $250 Billion Copper Investment to Drive Industry Mergers

November 21, 2024November 21, 2024 Constance

Soaring demand for copper will require an estimated $250 billion of investment over the next decade, fueling further mergers in the industry, according to BHP Group Ltd. CEO Mike Henry. In a Bloomberg Television interview, Henry highlighted the increasing challenges in finding and developing new deposits of critical minerals, which are becoming more costly and technically complex to manage. “This suggests a trend toward consolidation, with companies that have scale, strong balance sheets, and deep technical expertise, like BHP, being well-positioned to lead in the decades ahead,” Henry stated. Copper… Read More Here

International Corporate News Tin

Abu Dhabi’s IRH Eyes Stake in Alphamin Tin Operations

November 21, 2024November 21, 2024 Constance

Abu Dhabi’s International Resources Holding (IRH) is exploring an indirect stake in Alphamin, a Toronto- and Johannesburg-listed tin miner, according to a report by Bloomberg News. This potential investment would further expand IRH’s growing portfolio of mining interests. Alphamin’s majority shareholder, Denham Capital, which holds 57% of the company, is reportedly considering transferring its stake into an investment vehicle that could involve IRH. Alphamin operates the Bisie tin mine in the Democratic Republic of Congo, which is undergoing an expansion to produce approximately 20,000 tons of tin annually—accounting for about… Read More Here

International Copper

Glencore Tests Advanced Leaching Technology to Boost Copper Extraction in Chile

November 21, 2024November 21, 2024 Constance

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

International Gold

Mali Secures $160M Settlement in Gold Mining Dispute Following CEO’s Detention

November 20, 2024November 20, 2024 Constance

Australian mining company Resolute Mining has agreed to pay Mali’s military government $160 million to resolve a tax dispute that escalated after the detention of the company’s British CEO, Terry Holohan, and two colleagues. The three employees were arrested 10 days ago while traveling to Bamako for what they believed would be routine negotiations. Their release is contingent on the signing of a memorandum of understanding and the completion of an initial $80 million payment, with the remaining $80 million to be paid in the coming months from the company’s… Read More Here

International Mining Personality

Friedland Highlights China’s Reduced Reliance on US Amid Potential Trade Tariffs

November 13, 2024November 13, 2024 Constance

China has strategically reduced its exposure to the US economy since Donald Trump’s first presidential term, positioning itself to better withstand potential trade tariffs from the president-elect, according to Robert Friedland, co-chairman of Canadian miner Ivanhoe Mines Ltd. “China still holds significant leverage,” Friedland said in a Bloomberg TV interview from Sydney. “Its exports to the US are now much lower compared to the first Trump administration, meaning China is less vulnerable to US tariffs than it was seven or eight years ago.” As part of his manufacturing agenda, Trump… Read More Here

International Copper

Chinese Copper Smelters Face Pressure to Slow Expansion Amid Global Profitability Concerns

November 13, 2024November 13, 2024 Constance

Chinese copper smelters are under increasing pressure to rein in their rapid expansion, as oversupply threatens the industry’s profitability and raises concerns over the future viability of smelting operations globally. China, the world’s largest consumer of copper, is expected to produce nearly half of the world’s refined copper this year following a surge in smelter construction aimed at securing supplies critical to the energy transition. However, this expansion has led to fierce competition for limited raw materials, squeezing margins across the industry. The scale of China’s expansion poses risks to… Read More Here

International Technology & Innovation

New Maptek platform for automation and orchestration for strategic decision making

November 13, 2024November 13, 2024 Constance

On the back of successful demonstrations at MINExpo International in Las Vegas in September, Maptek is excited to announce that its Maptek Vestrex ecosystem for automation and orchestration is open for early access customers. Vestrex creates extraordinary value by making connections between diverse data sources without constraints of product, application, process or format. Data in the cloud encourages stakeholders across mining roles, teams and organisations to collaborate and explore new use cases for their technical data beyond traditional applications. Automation streamlines operations through real-time data and process integration, and accelerates… Read More Here

International Economy

BRICS+ Gains Ground in Global Economy, Projected to Surpass G7 in Exports

November 8, 2024November 8, 2024 Constance

BRICS+—comprising Brazil, Russia, India, China, and South Africa—is positioning itself as a major global economic force. According to a report by Shape the Future with Confidence, BRICS+ now accounts for 36.7% of global GDP by purchasing power parity (PPP), 23.3% of global merchandise trade, and represents 45.2% of the world’s population. Since 2000, BRICS+ has doubled its share of global merchandise exports from 10.7% to 23.3%, while the G7’s share has declined from 45.1% to 28.9%. This trend reflects the growing influence of BRICS+ over the industrialized economies of the… Read More Here

International

COP16 Biodiversity Summit Ends Without Consensus on Funding for 2030 Roadmap

November 8, 2024November 8, 2024 Constance

The COP16 biodiversity summit concluded on Saturday, November 2, 2024, without reaching a crucial agreement on financing the roadmap aimed at halting nature’s destruction by 2030. . The negotiations, according to organizers, were abruptly paused when Susana Muhamad, the Colombian President of the UN summit, discovered that many delegates had left after an all-night plenary session, leaving her without the quorum necessary to proceed. The conference was thus suspended before finalizing a financing strategy and a monitoring mechanism essential to enforcing commitments made in the 2022 Montreal Agreement on biodiversity… Read More Here