This week, it was learned that the Democratic Republic of Congo (DRC) could displace Peru as the world’s second largest copper producer in no more than five years. The information, shared by Wood Mackenzie, indicates that the extraction of the African red metal almost equaled that of Peru in 2022, where 2 million 438,631 tons […]
Tag: copper
Copper production reached 221,999 MT in April 2023: 30.5% more than in the previous year
The national production of copper reached 221,999 fine metric tons (TMF) in April, representing a growth of 30.5% compared to the same month of the previous year (170,168 TMF), thanks to the good production performance of Southern Peru, Minera Las Bambas and Cerro Verde, according to the Mining Statistical Bulletin (BEM) of the Ministry of […]
State-owned Codelco definitively shuts down controversial smelter on Chilean central coast
The Chilean state Codelcothe world’s largest copper producer, definitively closed a controversial metal smelter on the country’s central coast on Wednesday, plagued by various episodes of contamination. The mining company decided in June last year to close the facility in the town of Quintero, about 108 kilometers northwest of the capital, after episodes of environmental […]
Argentina: companies launch “Mesa del Cobre” and aspire to a Vaca Muerta of metal
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 […]
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 […]