Kazakhmys, the world's 10th largest copper miner, was confident the long-term outlook for copper remained positive as a surge in prices drove its full-year profit higher. Kazakhmys said on Thursday its 2010 earnings before interest, tax, depreciation and amortisation (EBITDA) rose 59.5 percent to $1.93 billion. According to Thomson Reuters I/B/E/S estimates, the average EBITDA forecast stood at $1.86 billion.
Copper Mining News
EMED Mining's MD says the group expects to start production at its Spanish copper mine in the first half of next year.
Zambian copper miner Equinox Minerals, which has made a hostile bid for Lundin, is now viewed as itself being a takeover target for one of the major miners.
Australia-listed EnviroGold Limited and Novus Gold Corp., which trades on the TSX, have signed a purchase-option agreement concerning Novus Gold's properties in the Dominican Republic. The companies signed a letter of intent whereby EnviroGold agrees […]
Bellzone Mining announced on Tuesday that it had completed a US$133 million placement of 102 million ordinary shares. Canaccord Genuity Limited was the lead manager. Bellzone, an AIM-listed company, is developing two iron ore and nickel/copper assets in Guinea, West Africa. The Kalia iron deposit, a 50mtpa iron ore operation, is the company's flagship project.
CALGARY, ALBERTA As previously announced, TVI and TG World have entered into an Arrangement Agreement whereby holders of TG World shares will receive 0.458 of a common share of TVI for each TG World share held. The Arrangement is subject to approval of
One of the Polish miners institutional investors called on the copper producer to hand back its entire 2010 profit of $1.6bn as a dividend
AQM Copper Announces Filing of Ni 43-101 Compliant Technical Report on the Zafranal Project, Southern Peru
AQM Copper Inc. announces that it has filed an independent technical report with regulatory authorities, in support of the resource estimate announced on January 13th for the Zafranal Project, located in Arequipa, Southern Peru. AMEC […]
The Polish miners beat market expectations announcing a strong fourth quarter on the back of surging metal prices and said it expects to see 2011 net profit jump to a record 8.35bn zlotys Poland's KGHM (KGHM.WA: Quote) almost doubled its fourth-quarter
Quadra Fnx Mining earned $173 million or $1.11 per share in 2010 compared to $89 million in 2009. "The increased earnings in the current year are primarily a result of higher average copper prices, and […]
Copper is the most talked about commodity this year. Copper's price and supply-demand characteristics are widely assumed to reflect the health of the world industrial economy, hence it is considered as excellent barometer to understand global economy's health.
Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday. "Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time." The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.
With copper trading at unprecedented highs, the question is being asked: isn’t there anything cheaper we can replace this stuff with? The answer, according to experts, is not much, and not easily.Peter Koven, writing in The Financial Post, looks at whether there are viable substitutes for the red metal.
The company behind a large copper-gold mining project in the Phillipine province of South Cotabato is cautiously optimistic that a mining ban imposed last year will be overturned. GMA News reports: A large-scale mining company on Sunday expressed optimism that the South Cotabato provincial government will lift its ban on open-pit mining and allow the $5.2-billion Tampakan copper-gold project to proceed by 2012. Sagittarius Mines, Inc. (SMI) made the statement as its petition to withdraw the ban – which former South Cotabato governor Daisy Fuentes imposed last year – has moved up to the provincial council’s final review. The current governor of South Cotabato, Arthur Pingoy, told Reuters last week that a review of the ban is possible, but with a slim chance it would be overturned.
Northern Dynasty said on Wednesday that Wardrop completed a positive preliminary assessment report for the Pebble copper-gold-molybdenum project in Southwestern Alaska. "For the Pebble Project, the 45-year Reference Case yields a 14.2% pre-tax IRR, a 6.2-year payback on initial capital investment of $4.7 billion and a $6.1 billion pre-tax NPV at a 7% discount rate and long-term metal prices. At current prevailing metal prices, the 45-year Reference Case yields a 23.2% pre-tax IRR, a 3.2-year payback on initial capital investment and a $15.7 billion pre-tax NPV at a 7% discount rate."
Japan's Ministry of Finance data reveals drop in refined copper exports to 26,208 tonnes. TOKYO (Reuters) - Japan's refined copper exports fell 45 percent in January from a year earlier to 26,208 tonnes, for a fourth straight month of year-on-year
Wardrop's 43-101 report suggests the mine life of the Pebble copper-gold-moly project could span from 25 to 78 years, yielding billions of pounds of copper, and millions of gold ounces.
A further rise in crude oil prices will dampen copper prices, though demand from key buyers in China, the United States and Europe so far looks solid, a senior executive at the world's top copper producer Codelco said on Wednesday.
Taseko Mines submitted a new plan for its Prosperity project on Monday, saying it has addressed environmental concerns that saw its last plan rejected by the Canadian federal government.
Investing in copper might be the simplest way to profit from the ongoing global urbanization.
Zambia's Central Bank reckons the major copper producing country's output will rise around 10% to 9000,000 tonnes in 2011 LUSAKA (Reuters) - Copper output in Zambia, Africa's leading producer of the metal, is expected rise to 900,000 tonnes in 2011 from
The group announced better-than-expected results for the year on the back of higher prices and said it remains positive about the outlook for commodities markets. Anglo American (AAL.L: Quote) (AGLJ.J:Quote), the world's fourth-largest diversified miner,
Taseko Mines is adding capacity to its Gibraltar Copper Mine in north-central British Columbia. The company stated Wednesday that its board of directors has approved construction of 30,000 tpd concentrator to complement the existing 55,000 tpd facility. The second concentrator will triple the mine's production capacity from 60 million to 180 million pounds per year.
Barrick Gold reported on Thursday that net income in the fourth quarter was up 57% to US$947 million or 95 cents a share, a record result for the world's-largest gold miner. In the same quarter in 2009, Barrick reported US$604 million net income or 61 cents a share. The company produced 1.7 million ounces of gold at a total cash cost of $486 per ounce. Gold production in 2011 is expected to be similar to 2010.