Boliden, a key player in the metals industry, has announced a significant investment of SEK 4.8 billion (approximately USD 460.8 million) in a new tank house at its Rönnskär site. This strategic move is set to boost the production of copper cathodes and precious metals, reaching full capacity by the latter half of 2026. Alongside this development, Boliden has also...
Copper news
Copper Prices Rise on LME Amid Production Cuts in China; Gold Dips Slightly on COMEX
Copper futures experienced an uptick on the London Metal Exchange today, spurred by production reductions in China. According to recent reports, leading Chinese copper smelters have agreed to scale back operations at facilities that are not turning a profit. This decision comes in the wake of decreased processing fees and copper treatment charges. “With the anticipation that the base metal’s...
India on the Brink of Becoming a Net Copper Exporter with Adani’s New Venture
India is poised to shift its stance from being a net importer to potentially becoming a net exporter of copper by the next fiscal year, thanks to the strategic launch of Kutch Copper Ltd (KCL), owned by Adani Enterprises Ltd. The company’s manufacturing facility, with an impressive annual production capacity of 500,000 tonnes, is set to commence operations by the...
Copper Prices Hit 11-Month High Amid Tight Supply and Chinese Smelters’ Production Cut Talks
Copper prices have witnessed a significant rally, surging over 3% to reach their highest levels in nearly 11 months. This upward trend is primarily driven by signs of tightening supplies, particularly following discussions among Chinese smelters about potential joint production cuts. In the United States, May copper futures soared 3.3% on Wednesday, hitting an 11-month peak at $4.0690 a pound...
China’s Leading Copper Smelters to Reduce Production Amid Raw Material Shortage
In response to a significant shortfall in raw materials and a drop in copper concentrate fees to a more than decade low, China’s premier copper smelters convened on Wednesday to unanimously agree on a production reduction at several loss-making facilities. This strategic move aims to mitigate the adverse effects of the current market conditions on smelters’ profitability. Details regarding the...
Vast Resources Secures New Copper Offtake Agreement with Trafigura for Baita Plai Mine
Vast Resources has announced a new exclusive offtake agreement with the Trafigura Group for the copper concentrate produced at its wholly-owned Baita Plai Polymetallic Mine in Romania. This new agreement, effective until June 2025, enhances Vast’s ongoing partnership with Trafigura, a global leader in commodity trading and logistics, building on their initial collaboration for the Takob Mine in Tajikistan established...
BHP Eyes Expansion in South Australia Amid Soaring Global Copper Demand
BHP, a leading global resources company, is carefully weighing the balance between operating costs and productivity as it considers a significant expansion in South Australia’s far north. This strategic move aims to leverage the extraordinary worldwide demand for copper, essential for a wide range of clean energy technologies. According to a BHP report, an estimated $150 billion investment is required...
London Copper Prices Hold Steady Amid Supply Concerns and Weaker Dollar
Copper prices in London remained stable in early trading on Monday, as market participants weighed the impact of diminished inventories and ongoing global supply tightness against a backdrop of a softening U.S. dollar. The three-month copper contract on the London Metal Exchange (LME) was trading at $8,582.50 per metric ton by 0233 GMT, maintaining its position after reaching a five-week...
Sprott Asset Management Introduces New Copper Miners ETF to Enhance Energy Transition Investment Opportunities
Sprott Asset Management has expanded its portfolio of critical materials-focused exchange-traded funds (ETFs) with the launch of the Sprott Copper Miners ETF. This unique ETF stands as the sole U.S. listed offering that provides investors with pure-play exposure to a broad range of copper mining companies, encompassing large, mid, and small-cap entities. These companies play a pivotal role in supplying...
China Sees Modest Increase in Copper Imports Due to Rising Domestic Demand
In a sign of recovering economic activity, China reported a 2.6% increase in its unwrought copper imports during January and February of 2024, as compared to the same period in the previous year. This uptick, as detailed by the General Administration of Customs, reflects an improvement in domestic demand for the metal, with the total imports reaching 902,000 metric tons,...