Copper short squeeze in NY prompts rush to send metal to US
Copper futures in New York rallied to a record high after a short squeeze that’s prompted a scramble to divert metal in other regions to US shores.
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Indigenous group to take fight against Arizona copper mine to Supreme Court
A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer.
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Teck sees $3bn in annual EBITDA if copper stays around current levels
Teck Resources Ltd expects to generate annual earnings before interest, depreciation, tax and amortization (EBITDA) of $3 billion if copper prices hit $5 per pound, CEO Jonathan Price said on Tuesday.
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Korea Zinc sees US opportunities as it targets big copper growth
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.
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Cochilco sees considerable increase in Chile’s copper price forecast
The state-run Chilean Copper Commission (Cochilco) will soon revise its copper price outlook, which will be considerably higher than the previous forecast, the body’s technical head said on Tuesday.
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Peru copper output flat in March, but up 3.5% in Q1 2024
Peru’s copper production came in essentially flat for March at about 219,000 metric tons, government data showed on Monday, with output of the key industrial metal from January totaling some 641,000 metric tons.
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Copper price above $10,000 as supply worries counter faltering demand
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric vehicles and power grids countered signs of demand destruction in top user China.
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Chile copper output edges down in March
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.
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Copper price touches $10,000 again as Goldman sees ‘stockout’ risk
Copper briefly traded through $10,000 a ton as investors raised bets on Federal Reserve rate cuts, and Goldman Sachs Group Inc. warned of intensifying supply stress.
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First Quantum hopes new Panamanian leader brings fresh look to disputed copper mine
First Quantum Minerals said on Monday it is looking forward to talks with Panama’s new government to find a resolution to the Canadian company’s disputed Cobre Panama mine.
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First Quantum seeks ‘dialogue’ with new Panama president over disputed copper mine
First Quantum Minerals is looking forward to talks with the new administration in Panama and to work together to find a resolution to its disputed Cobre Panama mine, the Canadian miner said on Monday.
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Argentina power supplier Central Puerto eyes stake in McEwen’s copper project
Central Puerto SA, 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.
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Strong copper price reviving Peru’s mining mojo
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.
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Congo’s $7 billion infrastructure deal with China will depend on copper prices
Around $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.
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Near record high LME prices a magnet for Chinese copper exports
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said.
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Copper price slips as Chinese demand outlook comes into focus
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand conditions in China.
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Codelco output keeps falling, underscoring copper struggles
Top copper producer Codelco reported a decline in quarterly output due to lower quality ore at its aging Chilean mines — the latest sign of supply-side struggles that have helped send metal prices to two-year highs.
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Chile president wants copper output boost of 1Mt by 2026
Chile President Gabriel Boric said on Thursday he is targeting an increase in the country’s annual copper output by 1 million metric tons by the end of his term in 2026.
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BlackRock says $12,000 copper is needed to incentivize new mines
Copper needs to reach $12,000 a ton — a 20% jump from this week’s high — to incentivize large-scale investments in new mines, said Olivia Markham, who co-manages the BlackRock World Mining Fund.
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Teck copper output shoots up on QB mine, profit disappoints
Teck Resources, Canada’s largest diversified miner, saw its copper production jump by 74% in the first three months of the year, thanks mainly to the ramp up of the extension at its Quebrada Blanca (QB) mine in Chile.
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Aurubis investing to expand copper output in Bulgaria
Aurubis AG, Europe’s largest refined copper producer, has started a project in its Bulgarian smelter which will expand group copper production by about 110,000 metric tons, its CEO said.
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China copper gauge at zero offers stark warning to metals bulls
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with what buyers in the biggest market are prepared to pay.
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First Quantum could remove copper from Panama mine after election
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of copper concentrate out of its disputed mine in Panama after the national elections there in May, the company’s chief executive said on Wednesday.
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Lower iron, nickel and copper prices weigh on Vale’s quarterly earnings
Brazilian miner Vale on Wednesday said lower prices for iron ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below analyst estimates.
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Chile sees record copper production next year
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission (Cochilco) said on Tuesday.
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