You are here

Category: International

Wave of Chinese copper fills warehouses abroad as demand weakens 1 Copper International 

Wave of Chinese copper fills warehouses abroad as demand weakens

Constance
Copper and nickel made in China flooded overseas into warehouses tracked by the London Metal Exchange last month, as tepid domestic demand triggers a wave of exports that has weighed on global prices. China, the largest metals market, is typically a significant net copper importer, but weak local conditions have reversed global trade flows in recent months, weighing on prices. Chinese-origin copper made up 72% of the increase in exchange-monitored inventories in July, and accounted for 53% of the total at the end of the month, up from 45% in… Read More Here
Vedanta to Sell 3.3% Stake in Hindustan Zinc for Over $950 Million 2 International Corporate News 

Vedanta to Sell 3.3% Stake in Hindustan Zinc for Over $950 Million

Constance
Indian mining giant Vedanta has announced plans to sell a 3.3% stake in its subsidiary Hindustan Zinc, exceeding the 2.6% stake it initially intended to divest. The sale involves 140 million Hindustan Zinc shares, valued at approximately ₹80.05 billion ($954 million) based on the company’s closing stock price of ₹571.75 on Wednesday. The share sale is scheduled for August 16 and 19, with a floor price set at ₹486 per share, according to a BSE circular. Following the announcement, Hindustan Zinc’s stock dropped 1.4%. Vedanta’s decision to increase the stake… Read More Here
South Africa's Mining Production Falls 3.5% Year-on-Year in June 3 International 

South Africa’s Mining Production Falls 3.5% Year-on-Year in June

Constance
South Africa’s mining production declined by 3.5% year-on-year in June, primarily due to decreases in gold, platinum group metals (PGMs), coal, and other metallic minerals. Gold production dropped by 12.6% compared to June last year, while PGM output decreased by 5.8%. Coal production fell by 3.3%, and other metallic minerals experienced a significant decline of 21.3%. Seasonally adjusted mining production fell by 1.6% in June compared to May, following month-on-month increases of 0.1% in May and 0.8% in April. For the second quarter of this year, seasonally adjusted mining production… Read More Here
Global Copper Demand to Surge by 75% by 2050 4 International Copper Economy 

Global Copper Demand to Surge by 75% by 2050

Constance
Copper demand is projected to soar by 75%, reaching 56 million tonnes by 2050, according to a new report from data analytics firm Wood Mackenzie. This sharp increase will necessitate significant investment and strategic changes in the global supply chain, particularly as major economies seek to reduce reliance on China. Copper plays a critical role in electrification and decarbonization, making it indispensable for the global energy transition. However, China currently dominates the copper supply chain, including mining, downstream processing, and semi-manufacturing. As countries look to diversify supply chains away from… Read More Here
Neo Energy Metals Expands Uranium and Gold Portfolio with Beisa Mine Acquisition 5 International Gold Mergers & Acquisitions Uranium 

Neo Energy Metals Expands Uranium and Gold Portfolio with Beisa Mine Acquisition

Constance
Neo Uranium Resources Beisa Mine (NURB), a subsidiary of South Africa- and London-listed Neo Energy Metals (NEO), has signed a binding agreement to acquire the Beisa North and Beisa South uranium and gold projects in the Witwatersrand Basin, Gauteng, from Sunshine Mineral Reserve. The Beisa North and South projects contain resources of 90.24 million pounds of triuranium octoxide (U3O8) and 4.17 million ounces of gold. These projects are located immediately north and south of the former high-grade Beisa uranium mine and are adjacent to the existing multimillion-ounce gold mining operations… Read More Here
Perenti Secures Three-Year Contract with Barrick Gold for Hemlo Mine Operations 6 International Gold 

Perenti Secures Three-Year Contract with Barrick Gold for Hemlo Mine Operations

Constance
ASX-listed Perenti has announced that its underground mining division, Barminco, has signed a three-year contract with Barrick Gold to continue providing mining services at the Hemlo gold mine in Canada. Located 350 km east of Thunder Bay in Ontario, Hemlo has been in production since 1989. Barrick transitioned the operation to a contract mining model in 2019, with Barminco serving as the primary underground contractor since then. The new contract covers an initial 36-month period and includes two optional 12-month extensions, which could extend Barminco’s involvement at Hemlo until 2029.… Read More Here
Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights 7 International Copper Mergers & Acquisitions 

Ivanhoe Electric Completes Full Acquisition of Santa Cruz Copper Mineral Rights

Constance
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”, the “Company” or “IE”) (NYSE American: IE; TSX: IE) Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin have announced that the Company, through its wholly-owned subsidiary Mesa Cobre Holding Corporation (“Mesa Cobre”), completed the final US$10 million payment to exercise its option to acquire 100% ownership of the mineral rights at the Santa Cruz Copper Project in Arizona. Following this transaction, Ivanhoe Electric now owns 100% of the mineral and surface rights for the Santa Cruz Copper Project.… Read More Here
Key Projects Advance as Barrick Keeps Tight Focus on Value Creation and Growth 8 Gold International Press Release 

Key Projects Advance as Barrick Keeps Tight Focus on Value Creation and Growth

Constance
TORONTO – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) has reported increased earnings and production for its second quarter, in line with guidance, and said the Company was on track for a strong second half of the year. Net earnings1 were up 25% and the attributable EBITDA margin2 was up 17% quarter on quarter to 48% with strong operating cash flows of $1.16 billion and a material increase in free cash flow3 to $340 million. Net earnings per share were up 24% to $0.21, adjusted net earnings per share3 increased by 68% to $0.32, and the quarterly dividend was… Read More Here
Barrick Declares Q2 Dividend and Buys Back Shares 9 International Gold Press Release 

Barrick Declares Q2 Dividend and Buys Back Shares

Constance
TORONTO – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced the declaration of a dividend of $0.10 per share for the second quarter of 2024. The dividend is consistent with the Company’s Performance Dividend Policy announced at the start of 2022. The Q2 2024 dividend will be paid on September 16, 2024 to shareholders of record at the close of business on August 30, 2024. In addition to the dividend, Barrick repurchased 2.95 million shares during the second quarter under the $1 billion share buyback program that was announced in February 2024. “The continued… Read More Here
Jinteng Mining Challenges Canada’s National Security Review of Peru Gold Mine Acquisition 10 Gold International Mergers & Acquisitions 

Jinteng Mining Challenges Canada’s National Security Review of Peru Gold Mine Acquisition

Constance
Jinteng Mining, a subsidiary of China’s Zijin Mining Group, has filed for a judicial review against the Canadian government’s decision regarding its acquisition of a gold mine in Peru. The move comes after Jinteng purchased Pan American Silver’s gold asset in Peru for $245 million in May, with an option for an additional $50 million payment. The challenge is directed at Canadian Minister François-Philippe Champagne’s order for a national security review of the deal, as reported by the Canadian Press. The judicial review was filed in late July in the… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.