According to the latest update from the U.S. Geological Survey (USGS), U.S. mines produced 84,100 metric tons of recoverable copper in November 2024. Average daily mine production remained at 2,800 metric tons, unchanged from October but 12% lower than in November 2023. Year-to-date mine output of recoverable copper through November 2024 totaled 948,000 metric tons,...
READ MOREPeru’s copper production could rise from nearly three million metric tons per year to four million in the coming years, according to Energy and Mines Minister Jorge Montero. “Just with the northern mining corridor, primarily in the Cajamarca region, we could increase annual copper production by one million fine metric tons, bringing total output from...
READ MOREMetso has introduced its Cu POX leaching process, an advanced hydrometallurgical method designed to optimize copper recovery from sulfide concentrates while minimizing environmental impact. As copper ore compositions evolve due to deposit depletion and stricter environmental requirements, this innovative solution enhances efficiency and sustainability in copper extraction. At the core of the Cu POX process...
READ MOREFollowing a surplus in 2024, the global copper market is projected to enter a deficit in 2025 due to demand outpacing production growth, according to India Ratings and Research. Prior to 2024, the copper market experienced a five-year deficit. Shradha Saraogi, associate director at India Ratings and Research, highlighted that rising demand for copper and...
READ MOREShanghai copper prices outperformed other base metals on Wednesday, driven by expectations of increasing demand from China’s power and construction sectors. The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed 2.08% higher at 79,410 yuan ($10,962) per metric ton, reaching an intraday high of 79,470 yuan—its highest level since September 30. According to...
READ MOREMining giant BHP has acquired a stake in Australian company Cobre’s Kitlanya copper projects in Botswana, committing up to $25 million in funding for exploration of copper-silver deposits in the region. BHP’s investment will focus on Cobre’s East and West Kitlanya projects on the Kalahari Copper Belt margins. The company has pledged a minimum of...
READ MOREMagna Mining has finalized the acquisition of a portfolio of base metals assets in the Sudbury Basin from an affiliate of KGHM International. The acquisition includes the operating McCreedy West copper mine, as well as the past-producing Levack, Podolsky, and Kirkwood mines. The deal, completed under a share purchase agreement dated September 11, 2024, also...
READ MOREChina’s copper production is expected to reach another record in 2025, even as smelters face increasing financial strain. The sector has continued expanding despite a sharp decline in processing fees, prompting government scrutiny and plans to curb new capacity. However, existing projects will proceed as planned, driving further output growth in the coming years. A...
READ MOREThe Aitik copper mine is experiencing production challenges due to high deposits of diorite, a particularly hard rock type, which is affecting mining operations as part of a new pushback. As a result, the production rate for the first quarter of 2025 is estimated to be just over 9 million tonnes, while full-year production is...
READ MOREMercuria Energy Group and Glencore have renewed agreements to purchase copper from the Democratic Republic of Congo’s state mining company, Gecamines, following the company’s decision to independently market its share of output from joint ventures. The two trading firms secured deals to buy copper from the Tenke Fungurume mine, a major operation majority-owned by China’s...
READ MOREJefferies has added Barrick Gold to its list of preferred North American copper miners, despite the company primarily generating revenue from gold. The investment bank acknowledges the unconventional nature of the call but expects Barrick’s attributable copper production to double to over 450,000 metric tons annually, contributing approximately 25% of its revenue later this decade,...
READ MORECopper miner Freeport Indonesia could receive an export quota of approximately 1 million metric tons of copper concentrate, according to Energy and Mineral Resources Minister Bahlil Lahadalia. The quota, valid for six months, falls under a government regulation that permits mineral exports under force majeure conditions. Indonesia, a resource-rich nation, has enforced an export ban...
READ MOREPresident Donald Trump has directed the secretary of commerce to investigate national security risks posed by the United States’ increasing dependence on imported copper. The probe may lead to policy measures aimed at securing domestic copper supply, though experts warn that meeting demand without relying on imports poses a significant challenge. The U.S. Geological Survey...
READ MORENeveah Limited, a Nigeria-based commodities export company, has announced plans to open an aluminium and copper waste recycling plant in Mowe, Ogun State. The facility is expected to create 40,000 direct jobs and an additional 6,000 indirect jobs, according to CEO Ibidapo Lawal. Lawal emphasized the plant’s environmental benefits, stating it will reduce Nigeria’s carbon...
READ MOREThe 14% increase in copper prices since the start of 2024 has led to mixed results among copper miners, with the Global X Copper Miners ETF (COPX) seeing little movement. However, some miners have significantly outperformed, including Taseko Mines, which has gained 8% this year. Taseko’s operations in Canada and the U.S. place it in...
READ MOREWieland Rolled Products North America, in partnership with Illinois Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO), has begun a $500 million modernization of its East Alton facility. The investment will retain 800 jobs in Illinois while enhancing production of critical copper and copper alloy components for electric vehicles (EVs),...
READ MOREChina has called on the United States to halt its investigation into potential new tariffs on copper imports, warning of retaliatory measures if Chinese entities are affected. The statement came after President Donald Trump directed the Commerce Department to launch a national security probe into copper imports under Section 232 of the Trade Expansion Act...
READ MOREAustralian iron ore mining company BHP is advancing with a $2 billion (A$3.16 billion) investment to optimize the concentrator at Escondida, the world’s largest copper mine. This is part of a broader $10.8 billion (10.18 trillion pesos) investment plan in Chile, according to a Reuters report. BHP plans to submit the investment plan for environmental...
READ MOREA massive power outage plunged most of Chile into darkness, leading the government to briefly declare a national emergency. The blackout affected the capital, Santiago, and the mining-intensive northern region, causing a temporary halt in copper production. Chile, the world’s largest copper producer, saw market disruptions as a result of the outage. Latin America’s electricity...
READ MOREGlobal refined copper production increased by 4.2% to 27.63 million tonnes in 2024, while consumption rose by 2.9% to 27.33 million tonnes, according to a report by the International Copper Study Group. This resulted in a surplus of 301,000 tonnes, contrasting with a deficit of 52,000 tonnes recorded in the previous year. In December, the...
READ MOREAnglo American and Chilean state-owned Codelco have signed a memorandum of understanding (MoU) to jointly develop adjacent copper mining projects in Chile. The partnership will establish a new entity to coordinate operations at the Los Bronces and Andina mines. The combined copper reserves from both sites account for 2% of global copper deposits, totaling 60...
READ MORETaseko Mines recorded revenues of $608 million in 2024, selling 108 million pounds of copper and 1.4 million pounds of molybdenum. Adjusted EBITDA for the year was $224 million, with earnings from mining operations before depletion and amortization at $244 million. Despite cost control measures, the company reported a net loss of $13 million ($0.05...
READ MOREIran’s copper reserves have exceeded 21 billion tons, according to Shahriyar Motavakel, deputy head of the National Iranian Copper Industries Company (NICICO). The reserves are deemed sufficient to meet the country’s targets outlined in the Seventh National Development Plan, though exploration efforts continue to further expand them. Of the discovered reserves, approximately 16 billion tons...
READ MOREAnglo American has announced the signing of a memorandum of understanding (MoU) between its 50.1% owned subsidiary, Anglo American Sur SA (AAS), and Chilean state-owned mining company Codelco. The agreement outlines a framework for a joint mine plan for their adjacent copper mines, Los Bronces and Andina, aiming to increase copper production with minimal additional...
READ MORE
