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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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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Codelco sees slow recovery after years of copper output declines
Codelco is starting to turn the corner after a production slump and project overruns eroded the state-owned copper behemoth’s finances, according to a top Chilean official.
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Russia confirms deal to buy part of Alrosa’s output
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on Thursday, a move that suggests Western restrictions on Russia’s diamond exports may be having some impact.
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Jiangxi Copper sees higher prices as it plans to raise output
Jiangxi Copper Co., China’s largest producer, said it expects prices to rise in the second half once the Federal Reserve cuts interest rates, while pledging to maintain double-digit growth in output despite calls to rein in production.
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Congo overtakes Peru on copper output, still behind on exports
The Democratic Republic of the Congo overtook Peru as the world’s second largest copper producer in 2023, though it still lags the South American country in exports, official data from both nations show.
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Copper price soars to 7-month high on China’s plans to cut output
Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the world’s mined copper, agreed on a joint production cut.
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Gold output falls in Burkina Faso as terrorist attacks increase
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation forced some mines to shut.
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Peru copper output seen growing to 3mt in 2024, minister says
Peru’s copper production should reach 3 million metric tons this year after hitting 2.76 million tons in 2023, energy and mining minister Romulo Mucho said in a news conference on Friday.
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Gold Fields eyes rapid ramp-up at new Chile mine, lifts output forecast
South Africa’s Gold Fields on Thursday raised its 2024 gold output forecast to between 2.33 million and 2.4 million ounces, saying it expects a rapid production ramp-up at its new Salares Norte mine in Chile, which comes online in April.
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Kumba Iron Ore to cut 490 jobs as rail crisis hits output, shares fall
Kumba Iron Ore shares fell more than 5% on Tuesday after it announced plans to cut about 490 jobs, following a reduction in production as it struggles to overcome South Africa’s persistent rail bottlenecks.
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Sumitomo cuts nickel output forecast in Madagascar due to system glitches
Japanese trading house Sumitomo Corp on Monday slashed its output estimate of nickel at its Ambatovy project in Madagascar due to system glitches.
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Glencore reports lower 2023 copper, nickel, cobalt output; flags further falls
Miner and trader Glencore on Thursday reported lower copper, nickel and cobalt production in 2023 and signalled a further decline in output this year.
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Vietnam rare earths output drops as China’s grows, US says
The US geological agency has sharply revised down estimates on Vietnam’s rare earths output and expects a further drop despite its rich resource base, according to an annual report, which showed a rise in dominant producer China’s output.
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Boliden plans to cut output and jobs at Tara zinc mine
Swedish miner Boliden’s plans to shrink operations and reduce targeted output at its Tara zinc mine in Ireland when it restarts this year, a source close to the matter told Reuters.
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Uranium stocks extend surge after Kazakh miner cuts output
Uranium miners extended a rally that’s made them the best-performing Australian stocks this year after the world’s biggest producer of the metal used to produce nuclear fuel cut its output target.
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Battery metal bust spurs output cut at leading lithium project
Australia’s biggest lithium mine has become the latest battery-metals venture to feel the pain from faltering demand growth, with output set to be trimmed as prices sink.
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Vale’s 2023 iron ore output tops guidance, but sales fall
Vale’s iron ore production grew 4.3% in 2023, topping the Brazilian miner’s estimate for the year, while shipments of the commodity fell slightly, the company said on Monday.
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Battery metal bust spurs output cut at leading lithium project
Australia’s biggest lithium mine has become the latest battery-metals venture to feel the pain from faltering demand growth, with output set to be trimmed as prices sink.
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Harmony sees half-year gold output up 14%
Harmony Gold says its gold production increased by as much as 14% in the six months to December 2023, driven by higher grades at its South African mines and a strong operational performance in Papua New Guinea.
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Codelco places $2bn in bonds as miner aims to boost copper output
Chile’s Codelco, the world’s largest copper producer, placed $2 billion in unsecured dollar-denominated debt maturing in 12 and 29 years on Tuesday, the miner said in a statement confirming an earlier report from capital markets publication IFR.
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South32 misses output estimates, puts Colombia nickel unit under review
Australian miner South32 logged an unexpectedly sharp drop in metallurgical coal production and put its nickel operations under review, saying it was focused on costs given a slowdown in the global economy that has hurt commodity prices.
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Barrick Gold reports lower preliminary gold output for 2023
Canadian miner Barrick Gold Corp said on Tuesday its full-year preliminary production of gold fell from a year earlier, even as output rose sequentially in the fourth quarter.
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Visit: 101