Copper Mining News

China's Minmetals makes surprise C$6.3 bn offer for copper miner Equinox

Equinox's hard-fought battle for Lundin may be aborted by a financially superior hostile bid for Equinox by China Minmetals' subsidiary Minmetals Resources.

Banks circle Donner Metals

Donner Metals Ltd. (DON-TSX-V) is currently constructing a joint venture zinc mine with Xstrata Zinc Canada (XTA-L) on the Bracemac-McLeod deposit in Québec, while exploring a number of different financing scenarios.

Finning Canada wins Mt Milligan fleet contract

Finning International has announced that its Canadian division has been selected as the mining equipment supplier by Thompson Creek Metals Co for their Mt Milligan copper-gold project. Read more

Peru influence compelling traders to rethink copper

News out of Peru gave traders a reason to pause and rethink on Monday and Tuesday as reports say leftist political candidate Ollanta Humala has taken the lead in the latest polling. Along with Peruvian […]

Forbes says aluminum will shine if copper prices continue to rise

As copper prices reach greater highs, Forbes says that manufacturers are looking at substitutes and choosing aluminum. After the financial crisis in 2008, copper descended to under $1.50/lb. In the last month it has traded […]

World's No.3 copper mine, Collahuasi, lifts force majeure

Chile's Collahuasi, the world's No. 3 copper mine, said on Friday it had lifted a force majeure on copper concentrate exports imposed after an accident at its key sea terminal in December.

Speculators raising net longs on gold and copper, trimming silver

Speculators in gold and copper futures and options raised their net long positions in the week ended March 29, while they trimmed bullish bets in the silver market, according to the latest report by the U.S. Commodity Futures Trading Commission.

Copper prices update: Prosper as copper becomes the new gold

The Statue of Liberty is one of the most recognizable American icons in the world. And as she towers 305 feet above Ellis Island, what's Lady Liberty wearing? Copper - 60,000 pounds of it. Clearly, copper's big in art. It's also a key metal that keeps the world economy humming. Copper consumption has grown at an average annual rate of 4% since 1900.

Greystar intercepts 20.21 g/t gold, 124.86 g/t silver and 1% copper over 5 metres

Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) reports that diamond drilling continues to encounter significant gold-silver-copper mineralization below and to the south of the oxide/transitional mineral resource on the multi-million ounce Angostura deposit in northeastern Colombia.

Thompson Creek announces completion of $132 million equipment financing

Thompson Creek Metals completed a $132 million equipment financing facility with Cat Financial Services Limited. Cat Financial has agreed to underwrite up to $132 million in mobile fleet equipment financing for Thompson Creek’s Mt. Milligan copper-gold mine located in British Columbia.

Codelco to halt Ventanas smelter after court order

World No. 1 copper producer Codelco said on Wednesday it was preparing to halt its Ventanas smelter after a court ordered it to do so following an environmental complaint.

BHP Billiton approves USD554 million investment at Escondida

BHP Billiton today announced approval for the Escondida Ore Access project (EOA), the first of a number of development options that will underline Escondida’s status as the world’s premier copper operation. The EOA project will relocate the crushing and conveying facilities currently located inside Escondida’s main pit to improve access to higher grade ore and thereby support higher production from 2013. The project is expected to cost US$554 million (US$319 million BHP Billiton share) and will be completed by mid calendar year 2012.

FT/Alphaville says 700,000 mt of Chinese copper used for financing, not construction

In a worrying report for copper bugs, FT/Alphaville looks more closely at a practice in China whereby copper is warehoused and used as collateral to get financing rather than actually used to build things. The […]

Southern Copper postpones $1bn Tia Maria project

Southern Copper, one of the world's largest producers of the metal, has postponed its $1 billion Tia Maria mining project in Peru because of social conflicts, Chief Executive Oscar Gonzalez said on Tuesday. The company (SCCO.N: Quote) will revise the project's viability later this month and consider alternative sites in Argentina and Ecuador in the meantime, Gonzalez told local television.

Copper remains BlackRock's most favoured base metal

Copper is the most favoured base metal in BlackRock's $17 billion World Mining Trust, fund manager Evy Hambro said on Tuesday, with the demand and supply outlook keeping prices of the metal resiliently high. At just under 20 percent, copper is the single largest weighting on a pure commodity basis in the fund, Hambro told an Association of Investment Companies roundtable in London.

Ecuador expects $7bn in gold, copper projects in the next 7 years

Ecuador expects companies including Canada's Kinross Gold to invest $7 billion in gold and copper projects in the next seven years, as the OPEC member tries to diversify its economy by encouraging mining. Natural Resources Minister Wilson Pastor said on Tuesday five projects will be signed in the next few months.

BHP Billiton moves to feasibility stage of Olympic dam expansion

Top global miner BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.

Lundin Mining, Inmet Mining end proposed C$9 billion friendly merger

Lundin Mining and Inmet Mining late Tuesday called it a day regarding their proposed friendly merger with a kindly farewell: "We continue to think very highly of each other's assets and wish each other well."

Strait Gold Intersects 134 metres of 0.29% Copper at Alicia

Strait Gold Corporation (TSX-V:SRD), is pleased to report final assay results from a 2000-metre drill program at its Alicia copper-gold project in southern Peru. Highlights include: - 134.0 metres of 0.29% copper, 0.03 grams per tonne (g/t) gold in hole ALC11-16, including 9.75 metres of 1.27% copper, 0.07 g/t gold and 0.032% molybdenite; and, - 18.5 metres of 1.25% copper, 0.15g/t gold, 13.3 g/t silver and 0.012% molybdenite in ALC11-17. Image from Strait Gold Corporation

Grupo Mexico railroad merger approved

A Mexican tribunal ruled in favor of Grupo Mexico in its fight to merge its two railroad units, throwing out a complaint by competition authorities, the company and the antitrust regulator said on Monday. Grupo Mexico (GMEXICOB.MX: Quote), which owns copper mines in Mexico, Peru and the United States, also operates Ferromex, Mexico's largest railroad company. In 2005, Grupo Mexico bought another rail line, Ferrosur, through a subsidiary.

Alacer Gold announces 182% increase in Ҫӧpler project LOM production

A Preliminary Feasibility Study says adding a sulphide circuit to the Ҫӧpler project will augment mine production by 2.5 million ounces of gold and 91 million pounds of copper.

Next Generation Mining Latin America Summit 2011: Lack of skilled labour increases costs to mining industry

As the mining industry continues to wrestle with skilled and experienced workers, what does it mean for mining companies’ bottom line - particularly in Chile where copper mining accounts for 49 percent of exports?

Oyu Tolgoi copper-gold-silver project now in peak year of construction

Ivanhoe Mines announced its financial results for the year ended December 31, 2010. The approved 2011 capital budget for Oyu Tolgoi is estimated at $2.3 billion. Principal components of the 2011 construction program include $561 million for the 100,000-tonne-per-day concentrator complex; $186 million for the initial mining fleet and to start pre-stripping of the Southern Oyu open-pit mine; and $713 million for project infrastructure, electrical power and completion of the process-water supply. The number of workers assigned to the Oyu Tolgoi site recently surpassed 7,000 for the first time. On-site jobs at Oyu Tolgoi are expected to peak at almost 14,000 in mid-2011, with an additional 3,700 Mongolians receiving skills training sponsored by Oyu Tolgoi.

Western Copper working with regulators to permit Yukon copper mine

Western Copper (WRN.TO) has begun engineering studies to determine whether it can modify plans that pushed regulators to reject its request for a water use license at its Carmacks copper project in Canada's Yukon Territory. A recent court ruling in the northwestern territory upheld the Yukon Water Board's decision to reject Western Copper's plans, forcing the exploration company to go back to the drawing board.

World's top copper miner sees strong metal prices continuing for some time

Global No. 1 copper producer Chile's Codelco said Friday its 2010 output dipped but should be steady this year, and expects strong Chinese demand, Japan's recovery after a natural disaster, as well as new uses to stoke demand. Codelco said profits surged 47 percent to $5.8 billion in 2010, with a rise in copper prices to record highs more than compensating for a 0.8 percent fall in production from 2009 to 1.688 million tonnes. [ID:nN08136598]