Copper stocks Articles

Protest ends at MMG's Las Bambas copper mine in Peru, exports to resume

Oct. 24, 2016, 9:42 AM / Cecilia Jamasmie

Copper exports from MMG's giant Las Bambas mine in Peru, which came online this year, are set to resume later this month or early November after a 10-day stoppage caused by protests against the operation came to and on Monday, the company said."The Government of Peru and local communities have agreed a framework for future dialogue and cooperation in the region," MMG said in the statement. "The pr...Read More

Caterpillar rally hindered by fresh drop in sales

Oct. 24, 2016, 6:57 AM / Cecilia Jamasmie

Shares in world's largest heavy machinery maker Caterpillar (NYSE:CAT), the best-performing industrial stock so far this year, suffered Monday morning after the firm logged a 18% drop in global retail sales of equipment for the three-month period ended in September.While the Peoria, Illinois-based company has had more discussions about potential sales in recent months than in the last two or three...Read More

Las Bambas protests could halt copper production

Oct. 23, 2016, 4:48 PM / Andrew Topf

Copper bulls might be tempted to place buy orders after a protest at a Peruvian mine turned ugly about 10 days ago.That's because supplies needed to allow Las Bambas, one of the world's largest copper mines, to keep operating are running out because access roads are being blocked by protesters following a death on Oct. 14. The mine just came online this year."Community roads are currently blocked...Read More

Canada's Ajax mine could cost $100 million in lawsuits: Mining Watch

Oct. 21, 2016, 1:15 PM / Valentina Ruiz Leotaud

Mining Watch published a statement today saying that KGHM's proposed Ajax mine in Kamloops, British Columbia could face over $100 million in litigation or compensation costs. Taking as an example what's happening at Canada's only other urban mine of comparable size, the Malartic open-pit mine in Quebec, the watchdog group presented what it calls "conservative estimates" on possible actions against...Read More

Worker dies at La Escondida mine

Oct. 21, 2016, 10:00 AM / MINING.com Editor

A 22-year-old man died early Friday morning while performing maintenance work at La Escondida copper mine in Chile.The man was identified as Rudy Henry Ortiz Martnez and he belonged to Cainsa, a subcontractor that works within the project 57.5% owned by BHP Billiton and 30% owned by Rio Tinto. Ortiz was working in the SAG mill and found himself stuck in the cap lining. His co-workers' efforts to a...Read More

Mexico's mining sector to reach $17.8bn by 2020 on the back of silver, zinc prices

Oct. 21, 2016, 3:46 AM / Cecilia Jamasmie

Despite upbeat results from companies operating in the country, official data released early this year shows that silver output in Mexico, the world's largest producer of the precious metal, has dropped over the past two years.Like much of the rest of the world, the country's mining industry saw very few new mines opening up in the period, marked by a sharp drop in commodity prices. Companies that...Read More

Rio Tinto to ship less iron ore despite increased demand from China

Oct. 20, 2016, 7:50 AM / Cecilia Jamasmie

Mining giant Rio Tinto (LON, ASX:RIO), the world's second-largest iron ore producer, lowered its forecast on full-year exports from Australia, despite China's recent spike in demand is supporting prices of the steelmaking material.Rio now expects to ship 325 million to 330 million tonnes in 2016, down from its earlier guidance of 330 million tonnes.The diversified miner said third-quarter shipment...Read More

BHP Billiton to lose chairman Jac Nasser next year

Oct. 20, 2016, 4:55 AM / Cecilia Jamasmie

The chairman of the world's largest mining company, BHP Billiton (ASX, NYSE:BHP) (LON:BLT), has just announced he would not seek re-election at next year's annual general meeting (AGM).Nasser had intended to announce his retirement last year but chose to stay on at the mining company to provide stability as BHP dealt with the aftermath of Samarco.Australian Jac Nasser, who was appointed chairman i...Read More

Mineria Activa acquires 90% of Pampa Camarones for US$18mm

Oct. 20, 2016, 4:34 AM / Mineria Activa

Private equity firm Mineria Activa acquired 90% of Pampa Camarones through a US$18mm capital increase in the company.Previous shareholders, Samsung C&T and Pampa Mater, kept a minority participation.Pampa Camarones is a copper mining company located in the region of Arica, Chile. The company has a capacity to produce 8500 tons of copper cathodes per year and has been in operation since 2014.The tr...Read More

Tires are a top five cost for a miner

Oct. 19, 2016, 4:03 PM / MINING.com Editor

Maintaining and replacing tires are expensive for miners, said Bob Bennett, Vice President of Operations for Kal Tire during an interview at last month's MINExpo.Kal Tire is Canada's largest independent tire dealer and one of North America's largest commercial tire dealers. Kal Tire's Mining Tire Group operates at more than 150 mine sites across five continents.Full interview transcribed for clari...Read More

World's largest miner wants 50 pct of workforce to be female by 2025: report

Oct. 19, 2016, 12:28 PM / Michael Allan McCrae

BHP Billiton aspires to have a workforce that is 50% female by 2025, in a report by The Financial Times.CEO Andrew Mackenzie made the announcement before the company kicks off its annual meeting in London on Thursday.BHP Billiton (NYSE:BHP), the world's largest miner, currently has 65,000 employees with just 17% being female. Senior staff bonuses are already tied to hiring more female workers. BHP...Read More

Pistol Bay becomes dominant landholder in the Confederation Lake Greenstone Belt

Oct. 19, 2016, 10:57 AM / MINING.com Editor

Canadian junior Pistol Bay Mining (CVE:PST) announced the acquisition of all properties and deposits from AurCrest Gold (CVE:AGO) and Glencore (LON:GLEN) in Ontario's Confederation Lake Greenstone Belt.The property package covers a 31 kilometres length of the Confederation Lake Greenstone Belt and includes two zinc-copper deposits and a number of zones which are in need of follow-up drilling. Mine...Read More

Grupo Mexico's mine in Spain under scrutiny... again

Oct. 19, 2016, 9:01 AM / MINING.com Editor

One year after the reopening of its zinc, copper, and lead Aznalcllar mine near the Spaniard city of Sevilla, Grupo Mexico's project is being scrutinized once again.Sevilla's Provincial Court decided to revisit the investigation behind the mining rights awarded to GMexico's subsidiary Mxico-Minorbis. Last year, accusations about shady pre-arranged agreements to obtain such concession, dismissing a...Read More

Congo takes Freeport, Lundin to court over sale of Tenke Fungurume

Oct. 19, 2016, 6:55 AM / Cecilia Jamasmie

In May Freeport-McMoRan Copper & Gold (NYSE:FCX) announced the sale of its Tenke Fungurume copper mine in the Democratic Republic of the Congo to China Molybdenum (CMOC) for up to $2.65 billion, a crucial part of the Phoenix-based company's debt reduction program.But exiting the DRC is proving to be as complicated as operating a mine in the troubled central African country. Now Gecamines, the stat...Read More

11 things every metal investor needs to know about zinc

Oct. 19, 2016, 4:25 AM / Jeff Desjardins - Visual Capitalist

Certain commodities tend to fly under the radar for periods of time.For example, it was only in the last couple of years that markets have been able to digest the potential impact of the electric vehicle boom, and what it may mean for raw materials. The lithium, graphite, and cobalt prices reacted accordingly, and suddenly these essential ingredients for lithium-ion batteries were hot commodities....Read More

World's top miner BHP Billiton finally sees signs of recovery in mining

Oct. 19, 2016, 3:47 AM / Cecilia Jamasmie

For the first time in about five years, the world's No. 1 mining company BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has said it was finally seeing clear signs of a commodity market turnaround.Announcing the results of an operational review ended Sep. 30, chief executive officer Andrew Mackenzie said there were "early signs of markets rebalancing."Iron ore and metallurgical coal prices have been strong...Read More

MiningWatch to launch court action for Mount Polley disaster

Oct. 18, 2016, 11:33 AM / MINING.com Editor

Imperial Metals escaped charges from its 2014 Mount Polley tailings breach near the city of Williams Lake, but the company isn't going to dodge new legal actions coming its way.Today, MiningWatch, backed by more than a dozen of other non-profit organizations including Amnesty International, Clayoquot Action, and Wilderness Committee, announced its plans to file a private prosecution under Canada's...Read More

China copper demand locked in

18 Oct 2016 9:56 / Alex Hamer

An analysis of the 13th five-year plan - covering 2016 to 2020 - foresees 15% growth in demand through construction, power infrastructure, renewables and electric cars. ICA Asian director Richard Xu said the growth goals for 2020 would reflect well on demand for the red metal. "China is expected to see at least 6.5% growth in GDP annually and double the personal income of its citizens by the end o...Read More

Yamana Gold set to spin off Brazilian unit as separate public company

Oct. 18, 2016, 6:33 AM / Cecilia Jamasmie

Canadian Yamana Gold (TSX:YRI) (NYSE:AUY) is set to spin off its Brio Gold subsidiary, which operates non-core assets in Brazil, as a standalone public company.This is not the first time the Toronto-based mid-sized gold producer tries to divest the three Brazilian mines owned by its local unit. Late last year, the company attempted to sell some of its 100% stake in Brio through a private share pla...Read More

Congo's cobalt production set to soar despite claims of child labour

Oct. 18, 2016, 4:31 AM / Cecilia Jamasmie

Production of cobalt, used in the lithium batteries that power everything from smartphones to electric cars, is set to soar in the Democratic Republic of the Congo (DRC), thanks to the country's low operating costs and strong projects pipeline, a new study published Tuesday shows.Analysts a BMI Research, a division of Fitch Group, estimate the country's cobalt output will jump from 66.2 thousand t...Read More