Copper News

Copper mining, investment and price news

Less than half of copper projects needed to meet demand

Frik Els | March 31, 2015
Less than half of copper projects needed to meet demand

New report identifies 231 existing copper projects with potential output of nearly 13m tonnes which will more than make up for long-term mine depletion.

IMF in favour of Zambia mining tax changes

Cecilia Jamasmie | March 31, 2015
IMF in favour of Zambia mining tax changes

But the fund warned that only further tightening of fiscal and monetary polices would contain the country's large deficits.

South Africa wants to settle mines’ black ownership in court

Cecilia Jamasmie | March 31, 2015
South Africa wants to settle mines’ black ownership in court

The main point of contention is the fact that mining companies believe that once they reached a 26% black ownership, they effectively complied, no matter where the percentage is at now.

Tax breakthrough at Rio Tinto's Mongolia copper mine — source

Reuters | March 31, 2015

Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5 billion Oyu Tolgoi copper mine, according to an official familiar with the government's position.

UPDATE: Teck shares drop after denying merger talks

Frik Els | March 30, 2015
UPDATE: Teck shares drop after denying merger talks

Vancouver-based company contradicts earlier Bloomberg report saying it is in talks with Chile's Antofagasta about combining copper assets.

BHP wants strikes to be ‘last resource’ for workers

Cecilia Jamasmie | March 30, 2015
BHP wants strikes to be ‘last resource’ for workers

The mining giant has also asked for local laws to be flexible enough to keep pace with other countries.

Hecla grabs Montana silver-copper deposit through $20 million merger

Andrew Topf | March 29, 2015
montana_country

Hecla Mining (NYSE:HL) has expanded its operations in the western United States with the purchase on Friday of Revett Minerals (TSX:RVM) in an all-stock deal worth $20 million.

Barrick to keep operating Zambia Lumwana mine

Frik Els | March 27, 2015
Barrick to keep operating Zambia Lumwana mine

Zambian government rethinking steep royalty hikes that went into effect on January 1.

Copper price falls as Chile brings 1.6mt back on line

Frik Els | March 27, 2015
Copper price falls as Chile brings 1.6mt back on line

Copper down nearly 2% as torrential downpour that shut many of the country's biggest mines is not expected to impact oversupplied market.

$60 billion for mining private equity a myth

Frik Els | March 26, 2015
$60 billion for mining private equity a myth

Looking for an exit or a lifeline? Look further says $8 billion fund manager.

Congo’s planned mining code changes 'too risky': miners

Cecilia Jamasmie | March 26, 2015
Congo’s planned mining code changes 'too risky': miners

The country's Chamber of Mines says the new code would send the mining industry back by at least 10 years.

JX, Mitsui Mining halt Caserones mine, to take a $421M write down

Cecilia Jamasmie | March 26, 2015
JX, Mitsui Mining halt Caserones mine, to take a $421M write down

The company said the suspension of operation at the copper is momentary, as northern Chile is being hit by torrential rain and snow.

Frik Els

Mining private equity: It's Davis or bust?

Frik Els | March 25, 2015
Mining private equity: It's Davis or bust?

Until Mick Davis pulls the trigger on X2's $5.6 billion, wishful thinking and unhealthy skepticism will pervade talk around private equity and mining.

Gwen Preston - Resource Maven

Exciting days at the bottom

codelco 200 million revamp mines feat

The broad bottom is in – and well settled in, seemingly, with at least another summer of sideways markets ahead. But time isn't a bad thing.

Vancouver zinc miner faces fines in Yukon

Business in Vancouver | March 25, 2015
India to auction 54 coal mines

At the end of January, the company announced it was placing the mine in care and maintenance, citing a commodity price crash, and earlier this month was forced to seek creditor protection.

M. Stanley slashes metals outlook on 'dormant' China

Frik Els | March 24, 2015
M. Stanley slashes metals outlook on 'dormant' China

Investment bank cuts 2015 nickel price forecast by 19%, while copper price estimate is slashed as market moves into oversupply.

Freeport axes dividend by 84% amid weak commodity prices

Cecilia Jamasmie | March 24, 2015
Freeport axes dividend by 84% amid weak commodity prices

The copper and gold miner will pay a dividend of 5 cents.

Putting Uganda on the global mining map

Diana Taremwa Karakire | March 24, 2015
Watchdog censors mining firms in Uganda for ignoring locals’ rights

Following a $75m national mineral survey, Uganda has proposed a wide range of tax breaks ahead of a planned mining and exploration licensing round.

Mining for copper just got a lot cheaper

Cecilia Jamasmie | March 24, 2015
Mining for copper just got a lot cheaper

A new study shows the costs of mining for the red metal have steadily declined over the past three years.

Chile's court says Barrick’s Pascua-Lama has not damaged glaciers

Cecilia Jamasmie | March 23, 2015
Chile's court says Barrick’s Pascua-Lama has not damaged glaciers

The country's Environmental Court handed Monday a major victory to Barrick’s besieged Pascua-Lama gold, copper and silver project, straddling the border with Argentina.

Scientists claim gold in human excrement is worth millions

Cecilia Jamasmie | March 23, 2015
Scientists claim gold in human excrement is worth millions

They have given the expression "where there's muck there's brass" a whole new meaning.

Zijin Mining buys 10% of Canada's Ivanhoe Mines

Cecilia Jamasmie | March 23, 2015
Zijin Mining buys 10% of Canada's Ivanhoe Mines

Zijn's main interest in Ivanhoe seems to be the Kamoa copper project.

South Africa woes cast doubt on BHP spin-off success

Cecilia Jamasmie | March 23, 2015
South Africa woes cast doubt on BHP spin-off South32 success

There are a number of challenges South32 is likely to face, including potential Black Economic Empowerment ownership concessions and power price hikes.

Mount Polley disaster prompts new tailings ponds regulations

Cecilia Jamasmie | March 20, 2015
Mount Polley disaster prompts new tailings ponds regulations

The regulation forces mining companies to consider the possibility of a tailings disaster and evaluate the environmental, health, social and economic impacts of an accident.

Copper up, FCX down as workers halt production at Grasberg

MINING.com Editor | March 20, 2015
Copper soars after Freeport McMoRan declares force majeure on Grasberg mine

The copper price recovered from a one-month low on Wednesday to gain 3% on Thursday, as the metal markets reacted to a dovish Fed statement and news out of Indonesia that production has stopped at the Grasberg mine.

US grants Peru $1m for Amazon clean-up due to illegal mining legacy

Cecilia Jamasmie | March 19, 2015
US grants Peru $1m for Amazon clean-up due to illegal mining legacy

Funds aim to help reduce the use of mercury and design remediation plans in Peru's southern regions.

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