https://www.bnamericas.com/en/
Social unrest in Peru this year led to lower production of about 150,000t of copper, according to estimates by mining-energy association SNMPE.
In a conference organized by the Peruvian Institute of Mining Engineers, association head Raúl Jacob said that if 100,000t are not produced, the State loses 1.45bn soles (US$363mn) in taxes.
https://www.canadianminingjournal.com/
Hudbay Minerals (TSX: HBM; NYSE: HBM) has released the initial resource estimate for its Copper World deposit with 272 million indicated tonnes and 142 million inferred tonnes, both grading 0.36% copper. The deposit is located near the company’s 100%-owned Rosemont copper project 50 km southeast of Tucson, Ariz.
The Copper World mineralization is close to the surface and can be mined with conventional open pit methods. There are seven deposits extending over a 7-km strike length, including Bolsa, Broad Top Butte, Copper World, Peach, Elgin, South Limb, and North Limb. The deposits lie northwest of the Rosemont deposit and lie mainly on land that Hudbay owns.
(Bloomberg) — A once-sleepy copper fund is defying the stock market’s miserable month as investors bet the base metal will be a big winner amid the shift to renewables and a potential boom in electric vehicles.
The Global X Copper Miners ETF (ticker COPX) saw a record $196.1 million inflow during Tuesday’s broader selloff on inflation concerns, increasing the fund’s assets 13% to an all-time high of $1.68 billion.
Rio Tinto Group will cancel US$2.3 billion in debt owed by Mongolia as the miner seeks to push forward with expanding the giant Oyu Tolgoi copper project that’s been beset by years of disputes, delays and cost blowouts.
Rio’s Chief Executive Officer Jakob Stausholm proposed improved terms for a 2015 financing agreement that underpins the mine’s underground expansion, according to a Dec. 13 letter to Prime Minister Oyun-Erdene Luvsannamsrai posted on Mongolia’s government website.
Andrew Forrest’s private resources company Wyloo Metals has launched a third bid for Canadian nickel hopeful Noront Resources, after talks between Wyloo and rival bidder BHP failed to reach a compromise.
Wyloo has lifted its bid to $C1.10 a share, 47 per cent above the C75¢ bid BHP made in October. alks between BHP and Wyloo, which has a 37.2 per cent stake in Noront, had been running for about a month. Head of Wyloo Metals, Luca Giacovazzi, described the discussions as constructive but ultimately unsuccessful.
PERTH, Australia, Dec. 12, 2021 (GLOBE NEWSWIRE) — Wyloo Metals Pty Ltd (“Wyloo Metals”) has today provided the board of Noront Resources Ltd. (TSXV: NOT) (“Noront”) with a letter outlining a further improved offer to acquire up to 100% of the shares in Noront that it does not already own for Cdn$1.10 per share (the “Revised Wyloo Offer”). This is 47% above the Cdn$0.75 per share offered under the take-over bid for Noront proposed by BHP Western Mining Resources International Pty Ltd (“BHP”).
The Revised Wyloo Offer is the only proposal to Noront shareholders that provides the following distinguishing features:
Canada’s Capstone Mining (TSX: CS) and Chile-focused Mantos Copper, run by British investment firm Audley Capital Advisors and Orion Mine Finance, are merging to form a new, Americas-focused copper producer called Capstone Copper.
The new miner, which will trade on the Toronto Stock Exchange, will have a combined 2021 copper production base of more than 175,000 tonnes of the metal and joint reserves of 4.9 million tonnes, the companies said.
https://www.canadianminingjournal.com/
The Newfoundland and Labrador Branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has awarded Vale (NYSE: VALE) its Miner of the Year designation for Vale’s Voisey’s Bay nickel operation 30 km southwest of Nain, Labrador. The award was announced at the annual Mineral Resources Review on Nov. 25.
The Voisey’s Bay team has been working on the simultaneous development of two underground mines – Reid Brook and Eastern Deeps – while it continues to mine the Ovoid deposit with open pit methods.
https://www.cbc.ca/news/canada/north/
Two mining projects in the Northwest Territories looking to cash in on the growing demand for batteries that are key in the battle against climate change are inching forward.
Robin Goad, the president and CEO of Fortune Minerals, the company that owns the NICO project, a cobalt, bismuth, gold and copper deposit about 50 kilometres northeast of Whatì, provided an update on the project during a virtual appearance at a geoscience conference held in Yellowknife Thursday.
As the pace and shape of the global transition to a greener economy has become a key issue globally, the need for battery metals will grow up to four times in the next 30 years, Vandita Pant, BHP’s chief commercial officer, said on Wednesday at the FT Commodities Asia Summit.
“Some of the modelling that we have done showed that in, let’s say a decarbonised world … the world will need almost double the copper in the next 30 years than in the past 30,” she told the audience at the inaugural session.
https://www.theglobeandmail.com/
First Quantum Minerals Ltd. said it conducted an exhaustive and independent search before naming Tristan Pascall, the son of chairman and co-founder Philip Pascall, as its next chief executive officer.
Vancouver-based First Quantum, the sixth-biggest copper miner in the world, said on Monday that after its annual meeting in May, 73-year-old Philip will be replaced by 46-year-old Tristan.
SUPERIOR, Ariz. (AP) — The kids care about the future of mining. But they also care about Native American rights. These kinds of contradictions and concerns lie in the background of Superior, a small town nestled in the mountains at the start of Pinal County’s Copper Corridor. Over 5,000 feet below the surface of Oak Flat, just to the east of Superior, lies a copper ore body that could be worth billions.
But that’s not all that lies under the surface of Superior. While publicly, city leaders and community members show support for the Resolution Copper project, others claim there is a silent contingent of locals who fear the impacts of the block-cave mining operation will destroy the town forever.
Chile’s mining sector is looking for certainty amid political fog in the world’s top copper producer, which is redrafting its constitution and on Sunday is headed for a polarized vote led by outsider candidates on the far left and right.
The front-runners have kept their powder dry on copper in the campaign so far, hinting at hikes to royalties on mining profits. There has also been vague talk from far-right poll leader José Antonio Kast to allow more private investment in state miner Codelco.
BHP is looking at investing in additional early-stage development projects as the company aims to grow its copper and nickel portfolio.
BHP chief executive officer Mike Henry spoke at the company’s annual general meeting on Thursday, suggesting the success of its current copper and nickel projects should inspire more developments to follow.
https://www.cbc.ca/news/canada/toronto/
Mining project will be ‘massive win’ for First Nations, says premier, despite Indigenous opposition
Premier Doug Ford’s government is touting Ontario as a future electric vehicle manufacturing hub, and linking that to a fresh push for a huge mining development in the northern part of the province.
Ford’s Progressive Conservatives want to lure the big automakers to produce electric vehicles in southern Ontario. A key part of that strategy involves opening up the so-called Ring of Fire mineral deposit, located more than 500 kilometres north of Thunder Bay in an area home to Indigenous people.
