The Zambian government is expected to make a final decision on the sale of Mopani Copper Mines this month, securing a new investor for the assets it bought from Glencore in 2021, a source with knowledge of the matter told Reuters. Zambia's Mines Minister Paul Kabuswe had initially said a new investor for the copper mines, which are struggling to make a profit, would be selected by the end of July.
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Codelco says reassessing costs of projects to upgrade minesChile's Codelco, the world's largest copper producer, is reassessing the costs of upgrades to extend the life of its mines, its chairman said on Friday, given cost overruns at El Teniente and Chuquicamata. Higher costs could mean Codelco's debt is likely to reach $30-billion by 2030 from $18-billion now, Chile’s Centre for Copper and Mining Studies (CESCO) said in a rare intervention, in August.
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Copper price taking strain amid US rate hike fears, slow China recoveryResearch company BMI has revised its average copper price forecast for the year to $8 550/t, down from $8 800/t previously. Prices in the year-to-date as ]at September 19 averaged $8 628/t.
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CFO of world’s top copper miner is moving to job in lithium, not leaving companyCodelco’s chief financial officer is moving to a new job with responsibility for lithium and not leaving the Chilean state mining giant, according to the company’s chairman. The world’s No. 1 copper producer abruptly announced Alejandro Rivera’s resignation as CFO on Thursday, saying only that he would be pursuing “other professional challenges'.
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Chinese copper tycoon goes missing, believed to be detained by policeNo 1 source of global mining news and opinion
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Critical Metals enters into offtake agreement with OM for DRC projectAim-listed Critical Metals has entered into an offtake agreement with OM Metal & Resources for the sale of at least 20 000 t of copper oxide ore from its flagship Molulu copper/cobalt project, in the Democratic Republic of Congo (DRC). The agreement is valid from October 4 to December 31 and can be renewed on mutual agreement by both parties.
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Orion Minerals to complete board review by year-endASX- and JSE-listed Orion Minerals expects to complete the review of its board composition and to appoint new suitable candidates during the quarter to end December 31. Orion initiated the review of the composition of its board in light of the increasing time demands and requirements on the board and its committees, as the development of its copper and zinc mines in the Northern Cape of South Africa progress.
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