Copper

Glencore Warns Multiple Australian Smelters Face Closure as China's Capacity Expansion Crushes Global Margins

Glencore Warns Multiple Australian Smelters Face Closure as China’s Capacity Expansion Crushes Global Margins

BY Sophia Schmitz
Glencore, the Anglo-Swiss mining giant led by CEO Gary Nagle, has accelerated its decision timeline for the Mount Isa copper smelter and Townsville refinery to September 2025, warning that multiple Australian processing facilities face imminent closure due to Chinese overcapacity driving treatment charges to record negative levels. The company estimates monthly losses of $30 million...
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China Accelerates African Copper Investments as Western Restrictions Reshape Global Supply Chains

China Accelerates African Copper Investments as Western Restrictions Reshape Global Supply Chains

BY John Davis
Chinese mining companies have intensified investments across Africa’s copper-producing regions as Western nations implement restrictions on Chinese access to critical mineral assets, with the Democratic Republic of Congo emerging as the world’s second-largest copper producer through predominantly Chinese-backed operations. The strategic shift reflects China’s efforts to secure copper supplies essential for renewable energy infrastructure and...
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Tanzania Launches First Domestic Copper Refinery as Government Mandates Local Processing by July 2025

Tanzania Launches First Domestic Copper Refinery as Government Mandates Local Processing by July 2025

BY John Davis
Shengde Precious Metal Resources, a Chinese-backed mining company operating in Tanzania, has completed construction of the country’s first copper refinery in Nala, Dodoma Region, with commercial production scheduled to begin in July 2025. The facility represents Tanzania’s entry into domestic copper processing as the government implements a mandate requiring all copper mined within the country...
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Peru and Congo Drive Global Copper Production Growth Despite Stable 233,000-Tonne Market Surplus

Peru and Congo Drive Global Copper Production Growth Despite Stable 233,000-Tonne Market Surplus

BY Lars Jensen
The International Copper Study Group, a global intergovernmental organization monitoring copper markets, reported that worldwide refined copper surplus declined marginally to 233,000 tonnes during the first four months of 2025 compared to 236,000 tonnes in the corresponding period of 2024. Global refined copper production increased 3.2% year-over-year to 9.4 million tonnes while consumption expanded 3.3%...
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Philippine Mining Industry Braces for Volatility in Nickel and Copper Amid Iran Crisis, Gold Seen as Investor Haven

Philippine Mining Industry Braces for Volatility in Nickel and Copper Amid Iran Crisis, Gold Seen as Investor Haven

BY Lars Jensen
The Chamber of Mines of the Philippines (CoMP) has warned that the recent U.S. airstrikes on Iranian nuclear facilities are likely to heighten volatility in industrial metals markets, particularly nickel and copper, while prompting investors to seek refuge in gold. The assessment comes as global commodity and financial markets react to escalating geopolitical tensions in...
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Copper Prices Slip as U.S.-Iran Tensions Boost Dollar and Surplus Fears

Copper Prices Slip as U.S.-Iran Tensions Boost Dollar and Surplus Fears

BY Lara Browne
Copper prices edged lower in the immediate aftermath of U.S. airstrikes on Iranian nuclear sites, defying expectations of a geopolitical risk premium for the industrial metal. Official trading data show both London and U.S. copper futures dipped by 0.1% to 0.3% in the first session following the attack, with benchmark contracts on the London Metal...
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Central Asia Metals Increases Offer to Acquire New World Resources for Arizona Copper Project

Central Asia Metals Increases Offer to Acquire New World Resources for Arizona Copper Project

BY Lars Jensen
Central Asia Metals (CAML), a British non-ferrous metals mining company, has revised its offer to acquire Australia’s New World Resources, raising the value to A$197 million (approximately US$130 million) from the initial A$185 million (US$119 million), according to a company announcement. The updated terms include immediate interim financing of $10 million as part of the...
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