Glencore Plc is doubling down on a cost-cutting drive at its Canadian copper and zinc plants following job cuts last year, in a further overhaul of its global smelting business following a collapse in processing margins.
The company’s copper plants in Quebec — as well as several recycling sites in the US — will be absorbed into the miner’s global zinc smelting division, with the aim of increasing business synergies and operational efficiency, according to internal memos seen by Bloomberg.
https://www.canadianminingjournal.com/
The gravel highway leading east from Hay River, Northwest Territories, features a relatively uniform (some might say monotonous) landscape of flat, spruce and jack pine forest. About 40 kilometers outside of the highway’s terminus at Fort Resolution, a few rock piles near the side of the highway stand out in bold relief.
A quick left turn on an unmarked paved road, and one enters a grid of streets, sidewalks, and parking lots — but there are no buildings anywhere. Travel around the site, and it is not hard to stumble on one of the many large open pits that have filled with water, often coloured a brilliant azure blue.
Canada can help its case countering incoming U.S. President Donald Trump’s punishing tariffs with germanium produced by Teck in Trail.
With a population of just over 8,000, the smelting and mining city of Trail may hold some leverage in helping Ottawa counter U.S. president-elect Donald Trump’s threats to impose steep tariffs on Canadian imports.
Trump this week doubled-down on his expansionist rhetoric, threatening to use “economic force” to annex Canada, and suggesting his administration would use military force to take over Greenland and the Panama Canal. “We don’t need anything they have,” Trump said Wednesday, referring to Canada during a news conference at his Mar-a-Lago resort in Florida.
(Bloomberg) — Zinc could see more sharp price swings as growing tightness along the metal’s supply chain leaves buyers exposed to sudden changes in availability. The material used to galvanize steel had a turbulent time on the London Metal Exchange last week, finishing almost 5% higher despite a 2.5% slump on Thursday.
The spike was fueled by the withdrawal of huge volumes from LME warehouses, which stoked speculation of a potential squeeze on short-position holders. The volatile week underscored tight supply conditions that analysts see persisting into next year.
https://www.cbc.ca/news/canada/north/
Pine Point mining project is located about 90 kilometres from Hay River, N.W.T.
The Town of Hay River and Pine Point Mining Limited have signed an agreement with the goal of ensuring that residents and businesses will benefit from future mining operations in the area. Mayor Kandis Jameson and Jeff Hussey, the CEO of Pine Point Mining Limited signed a memorandum of understanding on Monday.
The Pine Point lead and zinc mining project is located about 90 kilometres from Hay River. There hasn’t been an operational mine at Pine Point in almost four decades, when the former mine and neighbouring community closed down and were abandoned.
(Bloomberg) — A spat between two wealthy South Korean families over the future of an $11 billion zinc empire has descended into a bitter battle for control that could hamper efforts to diversify the global supply of energy-transition metals.
The power struggle over Korea Zinc Co. — founded by two friends who fled North Korea, and still held by the Choi and the Chang families — has captured headlines. Even in a country of large conglomerates, where inheritance fights are common, few involve private equity backers stepping into the ring to stand against wealthy establishment names.
LONDON, July 4 (Reuters) – The London Metal Exchange (LME) Index hit a two-year high in May when funds surged into base metals, chasing a narrative of manufacturing recovery, super-charged energy transition demand and constrained supply.
Doctor Copper, investors’ favourite barometer of industrial activity, soared to an all-time high, spurred by a ferocious squeeze on the CME contract. Both gold and silver markets also climbed as the metals complex returned to the investor spotlight after years of neglect.
https://www.thejakartapost.com/
The government seems to care only about the revenue generated from the mineral sectors and ignores the environmental destruction and the plight of the people affected by the related industries.
A recent jaw-droppingly massive corruption case in the tin sector is yet another reminder that the government still lacks the capacity to manage the country’s vast natural resources.
The graft case occurred in the concession areas of state-owned miner PT Timah in Bangka Belitung, which holds the largest tin reserves in the country. The archipelagic province produces 90 percent of the country’s tin, which is mostly under the control of Timah.
https://www.cbc.ca/news/canada/north/
It’s been almost 4 decades since the former mine at Pine Point was abandoned
There could be a new Pine Point mine operating in the N.W.T. in about six years, according to the company behind the project — and many South Slave residents are looking forward to it. There hasn’t been an operational lead and zinc mine at Pine Point in almost four decades when the former mine and neighbouring community closed down and were abandoned.
The site, located between Hay River and Fort Resolution., N.W.T., is currently in the development phase. Last winter, Osisko Metals completed a five-year drilling program on site to determine the mineral resources.
A group of native title holders from the McArthur River region in the Northern Territory has won a High Court battle to prevent the expansion of an open cut mine on the Gulf of Carpentaria.
A dispute between three native title holders — Mr Friday, David Harvey and Thomas Simon — and Mount Isa Mines, a subsidiary of Glencore which operates the McArthur River Mine, began in 2013 when the mining giant applied for a mineral lease to construct a new dredge dumping area.
(Bloomberg) — The US imposed sanctions on Russian mining magnate Vladislav Sviblov and several mining companies connected to him, including one that’s developing one of the world’s largest zinc mines.
The sanctions are the latest move against the Russian metals and mining sector, and come after the UK imposed sanctions against Sviblov last month. Sviblov emerged as a significant player in the Russian metals scene in recent years, buying up several mid-sized gold companies, as well as building what was set to be one of the world’s largest zinc mines at Ozernoye in Siberia.
With Glencore set to downsize Mount Isa in 2025, what is the way forward for the North West Minerals Province?
Glencore’s recent announcement that its Mount Isa copper operations and Lady Loretta zinc mine would close in 2025 sent shockwaves through the Queensland mining industry.It signalled the end of two of Australia’s most iconic mining operations, which have supported the world with a sustainable supply of copper, lead, zinc and silver for up to 60 years.
In the wake of Glencore’s announcement, Queensland Premier Annastacia Palaszczuk announced a $50 million support package for the Mount Isa region and those affected by the impending closure.
https://www.nnsl.com/
The proposed lead-zinc mine at Pine Point is moving along as planned, according to the company behind the new project. Town council received an update during its council meeting on Oct. 30 from Andrew Williams, the environmental manager for Pine Point Mining Limited (PPML).
PPML is a joint venture between Osisko Metals and Appian Natural Resources Fund. Appian announced it had purchased a 60 per cent stake in the project for $100 million over four years this past February. Williams’ presentation to council indicated that the mine’s life is expected to be 12 years with construction scheduled to begin in late spring of 2028. Operations are expected to begin one year later and is set to last until 2040.
JOHANNESBURG (miningweekly.com) – Copper and zinc mine development company Orion Minerals is well placed to take advantage of the projected copper shortfall in the second half of this decade with its portfolio of short lead-time, quality assets and exploration potential, S2Research analyst Simon Hudson-Peacock stated on Monday.
Globally, there are very few copper projects of similar quality that are as advanced along the value curve with secured funding, as is the ASX- and JSE-listed Orion, with its 750 000 t of declared compliant copper equivalent mineralisation, Hudson-Peacock pointed out in the October 6 analysis.
Cornish Metals (LON, TSX-V: CUSN) has kicked off work to dewater a past-producing tin mine at its South Crofty project in southwest England.
The Canadian miner said that water pumped from the old mine will be treated at its newly-built $8.5 million plant, at a rate of up to 25,000 cubic metres per day. It will then be released into the Red River, which meets the sea at Godrevy in St Ives Bay.
