Mining

    Denarius takes 15.6% of Copper Giant, Trafigura takes the concentrate teaser image

    Denarius takes 15.6% of Copper Giant, Trafigura takes the concentrate

    (Kitco News) - A junior buys into a junior, a trading house commits to a decade of output, and a billion-tonne copper deposit gets its first real balance sheet

    Kitco Mining Channel

    Iron ore dips as downbeat China data outweighs Australian strike

    Iron ore prices eased on Monday, as downbeat factory-gate data in top consumer China fueled worry over demand prospects for the key steelmaking ingredient, although a strike at a major export hub in Australia curbed some of the decline.The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1closed daytime trade down 0.35% at 713.5 yuan ($105.79) a metric ton.

    India’s Hindustan Copper plans to sell copper concentrate sourced from Chile to Hindalco, Adani

    State-run Hindustan Copper HCPR.NS plans to sell copper concentrate produced by mines it is acquiring from Chile’s Codelco to Hindalco HALC.NS and Adani, aiming to meet India’s growing appetite for the red metal, two sources familiar with the matter said.It is also in talks to form a joint venture with state-run Codelco to mine and sell copper, three sources said, declining to be identified as the deliberations were confidential.

    Two-day strike begins at BHP’s Port Hedland iron ore operations

    Industrial action at BHP’s (ASX: BHP) Port Hedland operations in Western Australia began on Saturday, marking the first major strike there in more than two decades.BHP ships some $80 million of iron ore daily through Port Hedland, the world’s biggest iron ore export hub. It has previously said it has plans to ensure that operations can continue.About 150 workers are expected to take part in the strike on Saturday, the Combined BHP Ports Unions (CBPU) said, which is only a portion of BHP’s workforce at the port of more than 800 people.
    Chile’s copper export revenue up 22.7% in July teaser image

    Chile’s copper export revenue up 22.7% in July

    Chile, the world’s largest copper producer, exported $5.37 billion worth of the metal in July, up 22.7% from a year earlier, the central bank said on Friday.The country posted a trade surplus of $1.99 billion in the month, the institution added, landing below the $2.38 billion expected by economists in a Reuters poll.(Reporting by Natalia Ramos and Gabriel Araujo; Editing by Toby Chopra)
    CATL’s Jianxiawo lithium mine remains closed pending environmental approval teaser image

    CATL’s Jianxiawo lithium mine remains closed pending environmental approval

    Chinese battery maker CATL’s Jianxiawo lithium mine remains pending environmental approval, state media reported on Friday.The mine, in the city of Yichun in Jiangxi Province, is also undergoing maintenance, and no ore transportation or crushing is taking place, Shanghai Securities News reported, citing the Yifeng County Ecology and Environment Bureau.CATL has been asked to complete environmental impact assessment approval procedures as soon as possible, the news outlet cited the bureau as saying.
    Freeport Indonesia aims for Manyar smelter restart next month, CEO says teaser image

    Freeport Indonesia aims for Manyar smelter restart next month, CEO says

    Copper and gold miner PT Freeport Indonesia plans to resume production at its Manyar smelter in September as copper concentrate production from its Grasberg mine gradually recovers, chief executive Tony Wenas told reporters on Friday.Copper concentrate shipments have gradually resumed from its Grasberg mine in Indonesia’s Papua region to the Manyar smelter in East Java, and production at the smelter should restart next month, as scheduled, he said.
    Coal India wins iron ore block in Odisha state teaser image

    Coal India wins iron ore block in Odisha state

    Coal India said on Thursday that it won the Gadadharpur iron ore block in the eastern state of Odisha through a competitive auction.This marks the state-run miner’s entry into iron ore mining, according to commodities consultancy BigMint.The block contains 288 million tonnes of resources, the company said in an exchange filing. Coal India will pay the Odisha government a premium equivalent to 114.05% of the value of minerals dispatched from the block.
    Project exits and fiscal tensions highlight rising jurisdiction risk, strategist says teaser image

    Project exits and fiscal tensions highlight rising jurisdiction risk, strategist says

    (Kitco News) A series of asset sales and policy disputes are highlighting a persistent challenge for global miners: once projects become large enough, political leverage can shift toward host governments.
    Ariana Resources targets 2028 gold production from rare Zimbabwe greenfield mine teaser image

    Ariana Resources targets 2028 gold production from rare Zimbabwe greenfield mine

    London-listed Ariana Resources expects to start producing gold from its greenfield project in Zimbabwe in 2028, the company’s managing director Kerim Sener said on Thursday.Ariana’s Dokwe project, about 110 kilometres (68 miles) north-west of Zimbabwe’s second-largest city Bulawayo, is the first large-scale greenfield project in the country in decades.
    CMRG tells some steel mills to halt talks with Rio Tinto, sources say teaser image

    CMRG tells some steel mills to halt talks with Rio Tinto, sources say

    China’s state iron ore buyer has directed some steel mills to halt negotiations with Rio Tinto (ASX, LON: RIO) for shipments from September, two sources with knowledge of the matter said, escalating pressure on the world’s top iron ore producer during annual supply talks.China Mineral Resources Group (CMRG) has increasingly used its buying power to wrest better terms for its steel makers by restricting purchases from big iron ore miners while contract talks are underway.
    Congo bans copper and cobalt concentrates exports, official order says teaser image

    Congo bans copper and cobalt concentrates exports, official order says

    The Democratic Republic of Congo has banned exports ‌of copper concentrate and cobalt concentrate as it escalates efforts to force domestic processing and retain more value from its mineral resources, a government order reviewed by Reuters on Thursday shows.After Reuters reported the ban, benchmark three-month copper on the London Metal Exchange rose by as much as 1.8% to $14,369.50 a metric ton, the highest since January ​29 when the metal hit an all-time peak of $14,527.50.
    Glencore’s energy trading profits soar on Iran war teaser image

    Glencore’s energy trading profits soar on Iran war

    Glencore (LON: GLEN) earned 66 times more from energy trading in the first half of 2026 than it did a year earlier, joining other major commodity traders profiting from market turmoil created by the Iran war.Glencore booked $2.66 billion in first-half adjusted earnings before interest and taxes (EBIT) from trading on Wednesday, up from just $40 million a year earlier.
    Albemarle quarterly profit surges on rising lithium prices teaser image

    Albemarle quarterly profit surges on rising lithium prices

    Albemarle (NYSE: ALB), the world’s largest producer of lithium for batteries, posted a spike in quarterly profit on Wednesday due to a jump in prices for the ultralight metal.The results reflected an improvement in the lithium market after a supply glut forced the company and peers last year to cut staff and curtail growth projects.Albemarle said the average price it received for its lithium rose 61% during the quarter and its sales volumes increased 11%.
    Codelco halts El Teniente mine expansion over seismic risk teaser image

    Codelco halts El Teniente mine expansion over seismic risk

    Chile’s state-run copper miner Codelco has paused one of its expansion projects at its flagship El Teniente mine a year after a deadly collapse, saying recent studies show greater seismic risk than initially thought.An accident on July 31, 2025, killed six workers and forced Codelco to halt production throughout various sections of El Teniente, the world’s biggest underground copper mine, just as it was grappling with lifting production from quarter-century lows.