copperinvesting
Copper-focused Cyprium Metals( ASX:CYM,OTC Pink:CYPMF) announced a commercial strategic partnership with global commodities giant Glencore (LSE:GLEN,OTC Pink:GLCNF) on July 26. In a press release, Cyprium said the deal is geared at accelerating the resumption of production from its Nifty copper complex, located in Western Australia's Pilbara region. Nifty was placed on care and maintenance in November 2019. “This commercial partnership gives us certainty of revenue during the crucial startup phases of Nifty’s two processing plants, removes uncertainty in sourcing a key input into cathode produ...
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Astudy published by the US Geological Survey shows that earthquakes can have a "substantial" impact on mining, smelting and refining operations, creating lasting impacts for the global economy and supply chains. Focusing on copper and rhenium, a silver-gray transition metal, the study aims to quantify the risks that earthquakes pose to supply — a variable that has not previously been systematically categorized. Copper production and risksAccording to the study, many of the world's largest copper and rhenium production facilities are located in regions prone to high seismic activity, such as So...
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Two Chinese copper smelters have announced plans to reduce production next year due to diminishing profit margins caused by an ongoing shortage of ore concentrate, Bloomberg reported on Tuesday (July 16). These decisions were revealed during a quarterly meeting of Chinese smelters held in Shanghai last week. Daye Nonferrous Metals, a major smelter based in the country's Hubei province, plans to cut its smelting output by 20 percent in 2025. The company has already implemented smaller reductions, resulting in a decline in its total refined copper production capacity, which now stands at 930,000...
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Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) reported preliminary Q2 production numbers on Tuesday (July 16), indicating that it remains on track to hit its output targets for the rest of the year. The company produced 948,000 ounces of gold and 43,000 metric tons of copper during the period, with sales figures slightly higher at 956,000 ounces of gold and 42,000 metric tons of copper. The numbers put Barrick on track to meet its 2024 guidance for both metals, which is set at 3.9 million to 4.3 million ounces of gold and 180,000 to 210,000 metric tons of copper. According to the company, Q2 go...
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Major mining companies are intensifying their search for new deals and projects. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP (ASX:BHP,LSE:BHP,NYSE:BHP) are both reportedly exploring potential acquisitions to expand their portfolios, people familiar with the companies said last week. Sky News said on July 12 that the former is currently evaluating a list of potential takeover targets, including Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK). Rio Tinto has reportedly approached banks for financing options. Teck is a Canadian mining company that recently sold its steelmaking coal unit to Glenc...
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The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 7.94 points last week to close at 593.7. US Federal Reserve Chair Jerome Powell met with lawmakers this past week, addressing the US Committee on Banking, Housing and Urban Affairs on Tuesday (July 9) and the House Financial Services Committee on Wednesday (July 10). In his testimony on Tuesday, Powell reiterated the Fed’s stance that before cutting interest rates it will continue to wait for more data showing that inflation is sustainably moving to its 2 percent target. He also acknowledged that the labor market is weakening, but said t...
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A copper crunch is coming as demand builds and the hunt for viable deposits comes up short. That’s according to Robert Friedland, a well-known mining industry financier whose current roles include board leadership positions at Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF) and Ivanhoe Electric (TSX:IE,NYSEAMERICAN:IE). "We see a crisis coming in physical markets, and we see a requirement for much, much higher copper prices," he said in a recorded interview played at the Rule Symposium, held from July 7 to 11 in Boca Raton, Florida. Copper demand “essentially infinite”Speaking first about copper demand, F...
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Norilsk Nickel (Nornickel) and Chinalco (SHA:601600) subsidiary China Copper are considering a joint venture, sources familiar with the matter told Reuters. The move would let Nornickel relocate its copper smelting operation to China amidst London Metal Exchange (LME) restrictions on Russian metals that began in April. The company currently stores a significant amount of its metal on the LME. Nornickel had previously announced plans in April to close its Arctic copper facility and establish a new plant in China with an unnamed partner. China Copper was the only party interested in a joint vent...
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The Canadian government has greenlit Swiss mining giant Glencore's (LSE:GLEN,OTC Pink:GLCNF) US$6.93 billion acquisition of Teck Resources' (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) steelmaking coal unit, but with stringent conditions to ensure job preservation and national benefits. Glencore will take over Teck's Elk Valley Resources, but must adhere to several conditions, outlined by Industry Minister Francois-Philippe Champagne. "Today I approved under strict conditions a much narrower transaction whereby Glencore will acquire Teck Resources' metallurgical coal business," Champagne stated. The comp...
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Pivotal Metals (ASX:PVT) Managing Director Ivan Fairhall shared his company's plans for the Horden Lake copper-nickel-PGM project in Quebec following the release of successful results from its 2024 diamond drilling program, which confirmed substantially thicker mineralisation. Fairhall shared his thoughts on the early results, and explained there are still more to come, with results from 25 holes still pending. He is confident there is an opportunity to expand the project’s grade and resource. “We already are thinking about and planning our next drill program. We've got targets to follow up on...
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