The mining companies of the main projects copper in Argentina they formed the call “Copper Table” to promote the development in the country of a mineral with high global demand due to the promotion of electromobility, said a source from the sector. Argentina has not produced copper since the Alumbrera mine closed in 2018, but […]
Tag: copper
Chile approves increasing the tax on mining companies to benefit the poorest
He Mining Royalty It is an initiative of the Government of President Gabriel Boric that has been approved by Congress this Wednesday, May 17. It consists of raising taxes on large-scale mining to provide more resources to the regions and, in this way, they seek to promote investment, development and a better quality of life […]
Moody’s raises its forecasts for China’s real estate sector to ‘stable’
debt rating agency Moody’s on Monday raised its forecasts for the Chinese real estate sector from “negatives” to “stable”, considering that sales will stabilize over the next year after falling by 28% in 2022. The firm foresees that the conditions for the sector, in crisis in recent years, will improve even more as the national […]
Peruvian copper production recovered 11.2% in the first quarter of 2023
The production of copper national reached 219,275 fine metric tons (TMF) in March 2023, an increase of 20.4% compared to the same month of the previous year (182,173 TMF) leveraged by the higher production levels of Cerro Verde (+7.3%) and Southern Peru (+79.8%). According to the Mining Statistical Bulletin (BEM) of May, the accumulated copper […]
Chinese copper imports fall on weak economy, real estate problems
Chinese copper imports fell 12.5% in April from a year earlier, customs data showed on Tuesday, held back by weak demand and rising domestic output of the metal. Imports of raw copper and derivative products amounted to 407,294 tons in April, according to data from the General Customs Administration. The metal, which includes anode, refined, […]
Chile uses old copper formula for its new lithium plan
Chile’s decision to increase state control over its lithium industry has shocked the new energy metals sector. The country’s two largest lithium producers, SQM and Albemarle, have seen their share prices fall on the prospect of having to relinquish majority control of their operations or risk losing their licenses once they expire in 2030 and […]
Copper falls to its lowest level in 2 weeks: US$8,803 a ton due to weak Chinese purchases
The prices of copper They fell to their lowest level in more than two weeks on Monday as the market focused on weak demand from China, the metal’s main consumer, while a weaker dollar helped limit losses. As reported by the Reuters agency, the reference copper on the London Metal Exchange (LME) rose 0.1% to […]
Mining exports fell 29% in February due to lower volumes and a global drop in prices
The National Society of Mining, Oil and Energy (SNMPE) reported that mining exports in February 2023 recorded revenues of US$2,422 million, a 28.9% drop compared to the same month in 2022 (US$3,407 million). The union specified that mining exports in the first two months of the year totaled US$5,012 million, a decrease of 22.8%, compared […]
Chile approves Anglo project to increase copper supplies; Codelco sees new synergies
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Chile approved an investment of more than US$3 billion in a copper mine owned by Anglo American Plc despite some environmental concerns, a sign of the government’s willingness to boost production of a key raw material in the energy transition. clean. A committee of Chilean government ministers approved the environmental permit the bronzes Integrated of […]
Copper closes the week with a rise after the recovery of Chinese exports in March
The price of copper, Peru’s main export metal, closed up at US$ 4,119 a pound this Friday on the London Metal Exchange (BML). With this, the red metal reached a progress of 0.9% compared to the day before. According to a Cochilco report collected by the Chilean newspaper Diario Estrategia, the rise of the commodity […]