Copper Mining News

Newmont profit soars on higher gold prices, claims top bullion miner title

Despite seeing gold output decline by 2%, Newmont claimed the title of world’s biggest bullion producer as it surpassed rival Barrick by 16,000 ounces in the first three months of the year.

Moroccan King to sign trade, mining deals with Congo

Moroccan King Mohammed VI will travel to the Central African nation for an April 28 summit of leaders to discuss the Congo Basin Blue Fund.

Southern Copper says legal dispute over Peru's Tia Maria resolved

Southern Copper Corp's chief executive said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4 billion Tia Maria project with a legal injunction.

Lower copper grades take toll on Antofagasta first quarter output

Copper production fell to 153,800 tonnes from 171,900 tonnes, due mostly to lower grades at the company's Centinela and Los Pelambres mines.

Spanish activists reject reopening of Los Frailes mine

On the 20th anniversary of the breach of the tailings pond at the Los Frailes mine in Spain, environmental organizations held a press conference to alert the public about the possibility of a similar accident taking place.

Canada's Teck Resources profit rises on higher sales volumes

Teck, which also mines copper, zinc and gold, said adjusted profit attributable to shareholders rose to C$753 million.

Chile's Copec to buy stake in copper project in Peru

Mina Justa, which is expected to require investment of around $1.6 billion, is due to begin construction in the second half of 2018.

Congo's state miner seeks to dissolve Glencore venture over debts

Gecamines said on Tuesday that debts owed by Kamoto to Glencore and its subsidiaries at the end of 2017 topped $9 billion.

Union at BHP's Escondida copper mine in Chile says no advance deal likely

The union accepted an offer to begin early negotiations with the Anglo-Australian miner in March to avoid another strike at the northern Chile mine.

Caterpillar results prove global economy in good shape

The machinery manufacturer logged earnings of $2.82 per share on revenue of $12.9 billion, surpassing expectations.

Freeport profit misses on lower-than-expected copper sales

The Phoenix, Arizona-based copper miner reported a lower-than-expected quarterly profit on Tuesday as red metal sales missed the company's forecast.

Anglo delays Minas Rio restart until year-end, will lose about $400 million

The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.

Peru expects $20.8 billion in mining investments

Only in 2019, Lima expects to receive $2.9 billion in mining investments.

Eurasian Resources flouted the rights Congolese villagers: UK report

According to the UK National Contact Point, the Kazakh mining giant deprived people of clean water and healthcare.

Commodities: the top asset class of 2018 so far

If the commodity sector keeps the pace for the rest of 2018, this will be the best year for the asset class since 2003.

Randgold expects Kibali gold output to rise thanks to automation

Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.

Poland's KGHM says Q1 copper sales fall 12 pct yr-on-yr

KGHM also said in a statement that silver sales fell in the same quarter by 16 percent to 212.6 tonnes.

Glencore's prize cobalt miner is bogged down deeper in Congo

Katanga is mired in difficulties ranging from the prospect of higher taxes to a mounting legal battle with its Congolese partner, Gecamines.

Glencore says legal proceedings opened against Congo unit

High levels of debt at mining companies are becoming an increasingly heated issue in Congo, the world’s largest source of cobalt.

LME to temporarily move nickel closing prices out of ring

The move is likely to happen early next year and last for three months, after which pricing will return to the ring.

DRC miners hopeful new code issues can be resolved

They said they expected authorities to realize the sliding scale they propose would be a more effective mechanism for the government to share in higher commodity prices than the windfall tax and strategic minerals scheme included in the new code.

German researchers say mining intensifies social conflicts in Peru

A group of researchers from Berlin’s Humboldt University published a study where they say that mining activities are the leading cause of social conflicts in Peru.

Deep-sea mining: scientists say collaboration is key

They say there has to be a balance between exploiting mineral resources from the seabed and protecting vulnerable marine ecosystems.

Cochilco forecasts Chile's 2018 copper output up 4.3 pct

Chilean copper commission Cochilco forecast on Friday that Chile would produce 5.76 million tonnes of the red metal in 2018.

Canada’s Copper Mountain grabs Altona Mining in $72-million deal

Merger creates a mid-sized copper miner, with an expected annual production of about 73,000 tonnes of the metal.