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Copper News
BHP’s top Australian investor eyes restraint in battle for Anglo
By: Bloomberg Updated 5 hours ago Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American. Luke Smith, the senior portfolio manager who... →
Anglo-BHP battle is between two CEOs fighting over same vision
By: Bloomberg Updated 5 hours ago As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... →
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers 
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
Korea Zinc sees US opportunities as it targets big copper growth
By: Bloomberg 14th May 2024 The world’s largest zinc smelter is planning to significantly expand its copper output, taking advantage of growth opportunities in the US as it seeks to become a leading player in the global transition to renewable energy. Korea Zinc, which also processes nickel, is looking to increase its... →
SolGold advances financing for Cascabel, secures $10m loan
By: Mariaan Webb 14th May 2024 LSE- and TSX-listed SolGold said on Tuesday that it was making significant strides in securing financing for its Cascabel project, in Ecuador, with capital providers expressing a keen interest in committing to a longer-term financing package. The company is in detailed discussions with capital... →
Copper climbs to highest in two years as bulls see deficit
By: Bloomberg 14th May 2024 Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with prices defying typical indicators of soft demand, especially in China. That’s partly because... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Analysts highlight concerns over valuation, regulatory hurdles in BHP-Anglo proposal
By: Mariaan Webb 14th May 2024 The rejection – for the second time – of BHP’s attempt to propose a deal with Anglo American underscores the concerns that continue to persist regarding value and regulatory hurdles in the proposed transaction. Responding to the latest developments in the BHP-Anglo takeover, CreditSight analysts... →
DRC allows Zijin mine to resume operations, mines ministry letter says
By: Reuters 14th May 2024 Democratic Republic of Congo's government has lifted a suspension order on a Congolese copper and cobalt operation majority-owned by China's Zijin Mining Group, according to a letter seen by Reuters on Monday. Congo's mines ministry last month halted the activities of the COMMUS project, in which... →
Anglo rejects BHP's revised £34bn proposal
By: Mariaan Webb 13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... →
Clean Air Metals appoints new VP of exploration
By: Creamer Media Reporter 13th May 2024 Canadian exploration company Clean Air Metals has appointed Lionnel Djon as its new VP of exploration, succeeding Geoff Heggie who has left the company to pursue other opportunities. Djon has most recently led the exploration team at Impala Canada. Under his leadership, significant mineral... →
Glencore steps in to help Austral exit receivership
By: Mariaan Webb 13th May 2024 Copper producer Austral Resources on Monday announced the end of receivership, as offtake partner Glencore Australia stepped in to the role of senior secured creditor. Glencore Australia has acquired the senior secured debt from Win Finance No 356 (Wingate), which early this month placed Austral... →
Chile copper output edges down in March, dragged by Codelco
By: Reuters 13th May 2024 Copper output in Chile, the world's largest producer of the metal, edged down in March, data from copper commission Cochilco showed on Friday, as production slid at state-run miner Codelco but rose at other major mines in the country. Output at Codelco, the top global supplier of the red metal,... →
Anglo investors tell company to move faster to survive BHP bid
By: Bloomberg 13th May 2024 Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid. Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape... →
Miners seek exemption from Canadian tax hike to save equity deals
By: Bloomberg 13th May 2024 Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits. Finance Minister Chrystia Freeland’s new budget includes a measure to... →
South Deep, Rietberg, mineral exploration make headlines 
10th May 2024 Mining Weekly Editor Martin Creamer discusses developments around Gold Fields’s potential wind energy project at the South Deep Gold Mine; Copper360's Rietberg underground copper mine opening three months ahead of schedule; and South Africa’s economy can benefit quickly from getting mineral... →
Rio Tinto had considered a bid for BHP-target Anglo American, AFR reports
By: Reuters 10th May 2024 Mining giant Rio Tinto had considered an offer for British miner Anglo American, which is now BHP Group's $39-billion takeover target, the Australian Financial Review reported on Friday. Rio "management had not ruled out making a play for part or all of the mining group and continued to study... →
Panama President-elect rules out First Quantum talks until arbitration dropped
By: Reuters 9th May 2024 Panama's President-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple arbitration proceedings it has launched seeking billions of dollars in compensation from the government over a mine shutdown order. President-elect Jose Raul Mulino spoke about his... →
Tertiary granted enviro approval for exploration on second Zambian prospect
By: Marleny Arnoldi 9th May 2024 Aim-listed Tertiary Minerals’ environmental project brief (EPB) for the Mupala copper project, in Zambia, has been approved by the Zambia Environmental Management Agency, which allows the company to start mineral exploration on site. The Mupala project is located 12 km west of the company’s... →
BHP and Ivanhoe Electric join forces for a US copper hunt
By: Mariaan Webb 9th May 2024 Toronto-listed Ivanhoe Electric has announced an exploration alliance agreement with the top diversified miner BHP, targeting copper and other critical minerals in the US. The alliance will explore six mutually agreed areas of interest over 3 655 km2 in Arizona, New Mexico and Utah. →
Rob McEwen optimistic about Argentina’s economic revival
By: Mariaan Webb 9th May 2024 Renowned mining magnate Rob McEwen is optimistic about Argentina’s economic prospects, citing President Javier Milei’s commitment to fiscal discipline and foreign investment as key drivers for growth. McEwen recently returned from a trip to Argentina, where he met Milei and engaged in... →
Indonesia says it will extend copper export permits for Freeport, Amman
By: Reuters 8th May 2024 Indonesia will extend copper concentrate export permits for Freeport Indonesia and Amman Mineral Nusa Tenggara, President Joko Widodo told reporters on Wednesday, adding that details of the extensions were still being worked out. Both Freeport Indonesia and Amman are building copper smelters... →
BHP insists Anglo American's South African assets must go in any takeover, sources say
By: Reuters 7th May 2024 BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner's thinking said. The "Big Australian" was rebuffed by its smaller rival on April 26... →
Central Puerto eyes stake in McEwen’s Argentina copper project
By: Bloomberg 7th May 2024 Central Puerto, Argentina’s biggest power supplier, is in talks to invest in Canadian miner McEwen Copper Inc.’s Los Azules project, according to people familiar with the matter. After recently signing a deal for a stake in the Diablillos silver-gold project in Salta province, Central Puerto is... →
First Quantum to seek talks with Panama’s Mulino on closed mine
By: Bloomberg 7th May 2024 First Quantum Minerals will seek talks with Panama’s incoming president in an effort to resolve the dispute that shuttered the Cobre Panama copper mine. President-elect Jose Raul Mulino, seen as an investor favorite, has said little about First Quantum’s $10-billion mine, which closed last year... →
Copper 360’s underground copper mine set to open three months ahead of schedule
By: Martin Creamer 6th May 2024 Last month copper mining company Copper 360 surprised on the upside by producing its first copper concentrate from surface material well ahead of schedule. Now, this month, it is doing the same on the underground mining front in that it will be opening its Rietberg underground copper mine three... →
Saudi Manara Minerals' team in Pakistan for talks on Reko Diq mine stake, document shows
By: Reuters 6th May 2024 Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in Pakistan's Reko Diq gold and copper mine, a Pakistan government document showed on Monday. The mine, located in Pakistan's restive southwestern Balochistan province, is... →
Orion Minerals in final stages of Okiep acquisition
By: Darren Parker 6th May 2024 ASX- and JSE-listed Orion Minerals has reached the final stages of its acquisition of a controlling interest in the Okiep copper project, located about 570 km north of Cape Town in the Northern Cape. Strategic funding partner the Industrial Development Corporation of South Africa (IDC) has now... →
Brazil wants Vale’s next CEO to have closer ties with government
By: Bloomberg 6th May 2024 Brazil expects the next CEO for Vale, the world’s second-largest iron ore producer, to have closer relations with officials and regulators even after public scrutiny over government influence on the company’s succession plan roiled a leadership search earlier this year. The government wants the... →
Strong copper price reviving Peru's mining mojo, Minister says
By: Reuters 6th May 2024 Peru's dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper prices and a bullish outlook they will rise further, helping lure back investor interest, the country's Mining Minister said on Friday. "The price of copper is a great... →
Congo's $7bn infrastructure deal with China will depend on copper prices
By: Reuters 6th May 2024 About $7-billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised minerals deal will largely depend on copper prices remaining high, details of the agreement published on Friday show. The government of President Felix Tshisekedi pushed for a... →
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
By: Bloomberg 6th May 2024 Two of BHP Group’s biggest rivals are sitting on the sidelines for the moment as they watch to see how a takeover offer for Anglo American will play out. Both Rio Tinto Group and Glencore are more focused on waiting for opportunities to snap up specific parts of Anglo’s business as BHP’s bid... →
Hot Chili arranges nearly A$30m for Chile copper project
By: Creamer Media Reporter 6th May 2024 ASX-listed copper miner Hot Chili has arranged about A$30-million in funding to accelerate its Costa Fuego copper project, located in the coastal range of Chile. The company, which also trades on the TSX-V, arranged a A$24.9-million private placement to institutional and professional investors... →
Panama's Mulino wins Presidency with support from convicted former leader
By: Reuters 6th May 2024 PANAMA CITY - Panama's former security minister Jose Raul Mulino on Sunday stormed to victory in a presidential poll dominated by his old boss, the popular ex-leader Ricardo Martinelli, who buttressed his campaign despite being holed up in Nicaragua's embassy. Mulino, 64, was one of the favorites... →
Panama to bar First Quantum from mining copper during closure process
By: Reuters 3rd May 2024 Panama will bar First Quantum from extracting copper during the closure of the mine it lost the rights to run last year, the country's Trade Minister Jorge Rivera Staff told Reuters, adding that new ways need to be found to finance the mine's shutdown. Miners around the world tend to keep mining... →
Anglo CEO meets South Africa's mines minister after BHP's takeover proposal
By: Reuters 3rd May 2024 Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking... →
Platinum-based green hydrogen emerging as Winter Olympics decarbonisation pillar
By: Martin Creamer 3rd May 2024 Green hydrogen, which is generated with the benefit of the catalysis that platinum group metals (PGMs) provide, is being increasingly highlighted as a pillar of the global decarbonisation transition that is poised to save the world from ruinous climate change. News just out is that steps are... →
What’s Anglo worth? For now it’s less than the sum of its parts
By: Bloomberg 3rd May 2024 As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and executives at rival producers: What’s Anglo American actually worth? Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal, which was swiftly and firmly... →
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