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Les États-Unis possèdent plus de cuivre que la Chine... Mais personne ne peut le raffiner
Malgré des réserves colossales, les États-Unis peinent à tirer parti de leurs réserves de cuivre.. Faute d’infrastructures de transformation, le marché mondial reste dominé par la Chine, grand maître du raffinage.

Par Marie Lombard, geo.fr le 26 juin 2025

ess is more" ("moins c'est plus") disent les anglophones, et dans le cas du cuivre américain, le dicton se vérifie. Selon les dernières données de l’US Geological Survey, les réserves des États-Unis atteignent 47 millions de tonnes — plaçant le pays au 7e rang mondial des producteurs, devant la Chine. Et encore : plusieurs projets américains pourraient, en théorie, ajouter 1,5 million de tonnes à la production annuelle, selon GEM Mining Consulting, cité par Bloomberg. De quoi couvrir presque toute la demande nationale.

Une aubaine pour l'Amérique de Donald Trump, en pleine guerre commerciale, qui multiplie les revendications de production nationale et scande "America First" au nez du super-exportateur chinois. Il y aurait là de quoi s'assurer une production par les États-Unis, et pour les États-Unis, n'en déplaise à Pékin.


Le cuivre américain en déclin
Problème : les raffineries et fonderies du pays ne sont pas assez nombreuses pour traiter les quantités gargantuesques de cuivre dans les entrailles américaines, forçant le traitement de la matière à se délocaliser à l'étranger. L’industrie du cuivre est en déclin outre-Atlantique. Son pic, rappelle Bloomberg, remonte à 1997 avec 1,9 million de tonnes produites par 35 mines et 11 fonderies. De cela aujourd'hui ne reste que 25 mines et deux fonderies traitant le minerai : Miami et Kennecott (Rio Tinto) dans l’Utah, ainsi qu'une troisième dédiée aux anodes et rebuts.

Les infrastructures d'autrefois ont cédé à la pression économique exercée par un flot de fonderies chinoises neuves, poussant l’industrie américaine à réduire sa voilure dans les années 2000 et 2010 alors que la demande diminuait. Aujourd’hui, la demande est de retour : dans un monde en transition énergétique accélérée, le cuivre s'impose comme un matériau clé pour les batteries de véhicules électriques, les réseaux électriques intelligents, les infrastructures militaires ou encore les équipements électroniques.

Mais, comme dans de nombreux autres secteurs, le Made in USA traîne des pieds, au grand agacement de Donald Trump. Et, la nature ayant horreur du vide, cette place de marché revient à la Chine, dont la filiale américaine se retrouve dépendante. En 2024, les exportations de cuivre des États-Unis vers la Chine ont atteint 2,94 milliards de dollars, selon la base de données COMTRADE des Nations Unies, rapporte Trading Economics.

La Chine, incontournable acteur du cuivre

À ce jour, la Chine produit environ 13 fois plus de cuivre raffiné que les États-Unis. Elle dispose du plus grand nombre d’installations de traitement au monde, résultat d’un projet national lancé dans les années 1990 pour répondre à la demande en construction, électronique et industrie. En fait, Pékin a désormais une telle capacité que les frais de traitement et de raffinage, qui fixent le prix du minerai brut, sont devenus négatifs.

"Nous n’avons ni subventions massives ni absence de régulation environnementale comme en Chine", déclare à Bloomberg James Stewart, directeur des affaires environnementales, gouvernementales et communautaires chez les fonderies Asarco (filiale de Grupo México), près de Phoenix. "C’est un secteur vraiment difficile", abonde Kathleen Quirk, PDG de Freeport, dans l'Arizona. "On a constamment des problèmes liés aux conditions internes d’une fonderie, et sa rentabilité est faible."

Le secteur est sous-exploité, et construire une nouvelle fonderie coûterait aujourd’hui environ 3 milliards de dollars, selon Simon Jowitt, directeur du Bureau des mines et de la géologie du Nevada. Une lacune qui questionne la souveraineté industrielle américaine, dans une chaîne d’approvisionnement critique.

New study gives Ivanhoe Electric’s Santa Cruz copper project $1.4B value

Blair McBride - The Northern Miner | June 23, 2025

A new preliminary feasibility study (PFS) for Ivanhoe Electric’s (TSX, NYSE: IE) Santa Cruz copper project in Arizona gives the proposed mine an after-tax net present value (NPV) of $1.4 billion at initial costs of $1.24 billion. Shares rose.


The underground mine could produce 72,000-tonnes of copper cathode annually during the first 15 years of a 23-year life and has an internal rate of return (IRR) of 20% at a base case of $4.25 per lb. copper, Ivanhoe said Monday. The NPV rises to $1.9 billion at the current Comex high-grade copper price of $4.83 per lb. and the IRR to 24%.


“Santa Cruz will mine the largest high-grade copper oxide orebody in America (…) which will be processed on-site by a new generation of skilled and highly paid American workers,” Ivanhoe Electric executive chair Robert Friedland said in a release.

“Santa Cruz will produce an LME Grade A 99.99% pure copper cathode product that will be ready for immediate sale to American industry from our mine gate.”

Santa Cruz, the company’s most advanced project, would help supply the green energy transition’s rising demand for copper, a critical mineral essential for electrical wiring.

Ivanhoe shares gained 4.1% to C$11.32 apiece on Monday morning in Toronto, for a market capitalization of C$1.08 billion ($790 million). The stock has traded in a 12-month range of C$6.45 to C$16.50.

136M reserve tonnes

The PFS includes a significant enhancement to Santa Cruz’s resources, with probable reserves totalling 136 million tonnes grading 1.08% copper for 1.5 million contained tonnes, based on almost 120,000 metres of drilling across 149 holes.

Exclusive of reserves, Santa Cruz hosts 182.8 million indicated tonnes grading 0.81% copper for 1.4 million tonnes contained copper and 422 million inferred tonnes at 0.79% copper for 3.3 million contained tonnes.

Mine construction could start in the first half of next year, first copper cathode production in 2028 and full production in 2029, the company said. The PFS envisions the mine would use heap leach processing.

Production costs would amount to about $17,000 per tonne of copper, with global first-quartile cash costs of $1.32 per lb. over the mine’s life.

Located in Casa Grande, about 77 km south of Phoenix, Santa Cruz comprises 24.2 sq. km of private land, including its associated water rights. Last June, Ivanhoe secured approval to zone over half of the property for industrial use, a major permitting milestone for the proposed copper mine.

Vale obtains preliminary license for Bacaba copper project in Brazil

Staff Writer | June 16, 2025

Vale SA (NYSE: VALE) said on Monday that it has obtained a preliminary environmental licence for its Bacaba copper project in Brazil’s Pará state.

The Bacaba project is designed to extend the operational life of the nearby Sossego mining complex, contributing an average of approximately 50,000 tonnes of copper per year over eight years of operation, with production scheduled to begin in the first half of 2028.

The miner expects to invest about $290 million during the project’s implementation phase.

“This is the first in a series of copper projects that Vale intends to develop in the Carajás mineral province, as part of a strategic plan to double its copper production capacity over the next decade,” the company said in a statement.

Following the news, Vale’s New York-listed shares jumped 3.4% to $9.77, giving the company a market capitalization of approximately $42 billion.

The Brazilian miner currently owns 90% of Vale Base Metals, which groups together its nickel and copper assets globally. Manara Minerals, a joint venture between Saudi Arabian miner Ma’aden and Saudi Arabia’s Public Investment Fund, acquired the remaining 10% stake in 2024.

Teck lands permit to extend life of copper mine in British Columbia

Cecilia Jamasmie | June 18, 2025

Teck Resources (TSX: TECK.A, TECK.B)(NYSE: TECK) has secured an environmental assessment certificate to extend the life of its Highland Valley Copper (HVC) mine in British Columbia, keeping Canada’s largest copper operation running into the mid-2040s.


The Vancouver-based miner expects the expansion to support an average annual production of 137,000 tonnes of copper over the mine’s remaining lifespan. Construction preparation will begin shortly, with a final investment decision expected from Teck’s board in the third quarter of 2025, president and chief executive officer Jonathan Price said in a statement.

Price noted the project will help strengthen North America’s critical minerals supply chain while contributing to job creation and economic activity. He said the expansion will create about 2,900 construction jobs and support 1,500 positions once operational.

To speed up approval for what BC authorities have called a “priority critical minerals project”, the province’s Environmental Assessment Office (EAO) worked with key ministries to enable a single, consolidated application covering both the environmental assessment and major permits. This marks the first fully integrated review under BC’s 2018 Environmental Assessment Act.

The process included input from Indigenous governments, local communities, and stakeholders. Price thanked participants for their “thoughtful assessment” and continued engagement.

The HVC expansion is part of Teck’s broader plan to invest up to $3.9 billion over the next four years, aiming to boost its total copper production to about 800,000 tonnes annually by 2030.

First Quantum takes small steps in long road to Panama mine restart

Bloomberg News | June 19, 2025

First Quantum Minerals Ltd. is receiving some encouraging signs for its shuttered mine in Panama, though the nation’s president warned there’s a long way to go before reaching a deal to restart.

The Canadian company has begun preparations to ship out 120,000 metric tons of semi-processed copper stranded since the mine shut in late 2023, according to people with knowledge of the matter.

Franco-Nevada Corp., which has a supply agreement for metals from the mine, agreed to halt its arbitration case against Panama — another small step forward given dropping such action was a government prerequisite for negotiations. President Jose Raul Mulino said Thursday that the slate is now clean to start talks about a potential restart.

Mine workers and providers, as well as members of other unions and some local communities, announced a Sunday march to push for a resumption. That would give some counterweight to public protests against mining that led to its closure.

Taken together, the actions offer some progress for a $10 billion mine that once accounted for 1% of global mined copper. First Quantum’s flagship asset was ordered closed by the government about 18 months ago after mass protests in the Central American nation.

The jury is still out on whether the government will be able to navigate lingering anti-mining sentiment in order to resume an operation that would give a much-needed boost to the local economy, as well as to a copper market disrupted by a string of supply setbacks.

Mulino acknowledged how tricky the process will be in comments to reporters in Panama City, which were framed in nationalist rhetoric. Any restart options would bypass Congress, he said.

“It will be evaluated and decided on as a function of national interest,” he said. “It will be an agreement with the state, exercising its legitimate right as a country over its land and right to exploit its natural resources.”

Nevada copper project draws $896 million US financing interest

Bloomberg News | June 10, 2025


Credit: Pathfinder Tonopah

A Nevada mining project has attracted the attention of the Export-Import Bank of the United States, which is showing interest in offering $896 million to support a company seeking to build a copper and molybdenum mine.

Pathfinder Tonopah, a closely held Nevada-based mining company, said on Tuesday it had received the non-binding indicative letter of interest from Ex-Im, the official export credit agency of the US. The company said the financing would support the construction of a mining and processing facility to produce copper cathode, molybdenum concentrate and other products on the Tonopah, Nevada, site, which has existing infrastructure, including water rights, power connections, and paved road access.

The deposit is Pathfinder Tonopah’s sole mining project, a former mine where previous owners extracted molybdenum in the 1980s and 1990s. The company has completed a preliminary economic assessment for the new project and is now seeking permits to build the mine.

The letter of interest from the US government bank comes as the Trump administration seeks to revive domestic mining of copper, a ubiquitous metal used in everything from home wiring to solar equipment. The Trump administration has sought to fast-track mining projects across the country and has weighed tariffs on copper imports to spur domestic production.

Condor-Teck copper project in Peru receives environmental approval

Staff Writer | June 13, 2025 mining.com

Condor Resources (TSXV: CN) says its Cobreorco project in central Peru has passed an “important” permitting milestone following the approval of its environmental impact statement, moving the project closer to the drilling stage.

The permitting process is being carried out by Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK), which entered the project in late 2023 through an option and joint venture agreement with Condor.

Under that agreement, Teck can earn a 55% interest in Cobreorco over three years following the permit issuance by spending $4 million on exploration and paying another $500,000 in cash. The Canadian miner would also take over technical, social and environmental programs at Cobreorco.

Upon exercising this option, the companies will then form a joint venture, after Teck can increase its stake in the project further to 75% by spending an additional $6 million in exploration and making another cash payment of $600,000.
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Condor’s geologists also compared the mineralization to that at Las Bambas, the large copper porphyry with skarn overprinting 50 km to the east.

RDC : le lancement de la fonderie de cuivre de Kamoa-Kakula prévu pour septembre

Agence Ecofin 13 juin 2025

Ivanhoe Mines opère Kamoa-Kakula, la plus grande exploitation industrielle de cuivre en RDC. La compagnie canadienne a lancé en 2021 la construction d’une fonderie sur le site, lequel devrait à terme présenter une capacité annuelle de 500 000 tonnes de concentré.

En République démocratique du Congo, Ivanhoe Mines prévoit de mettre en service la fonderie de cuivre du complexe cuprifère Kamoa-Kakula au début du mois de septembre 2025. C’est l’annonce faite le jeudi 11 juin par la compagnie canadienne, qui précise que la première production d’anodes sur le site est attendue pour octobre.

En construction depuis 2021, la fonderie devrait disposer à terme d’une capacité de traitement annuelle de 500 000 tonnes de concentré de cuivre, ce qui en ferait le plus grand projet du genre en Afrique. Elle produira du cuivre blister, un produit intermédiaire dans la fabrication d’anodes, avec une pureté d’environ 99%. Une fois inaugurée, l’installation devrait d’abord fonctionner à une capacité réduite de 50%, soit environ 250 000 tonnes de concentré traitées par an.

Avec ce projet, Ivanhoe Mines peut ainsi renforcer sa position dans la chaîne de valeur du cuivre en captant une plus grande valeur ajoutée pour la production de Kamoa-Kakula. Notons que la société a déjà signé des accords commerciaux pour vendre 80% de la production de la fonderie aux groupes chinois Zijin Mining et CITIC Metal, pour une période de trois ans.

En prélude de cette mise en service, Ivanhoe travaille aussi à sécuriser un approvisionnement énergétique stable sur le site. Plus tôt cette année, la compagnie a signé un accord visant à porter à 100 MW la puissance d’énergie hydroélectrique dédiée au complexe, portant la capacité électrique disponible à 150 MW, en tenant compte des 50 MW fournis par le réseau national. Cette capacité devrait encore augmenter d’ici octobre 2025, avec la mise en service attendue de la turbine N°5 du barrage Inga II (178 MW).

Le lancement de la fonderie surviendra toutefois dans un contexte de production baissière à Kamoa-Kakula. En raison des conséquences d’un récent incident sismique survenu dans la mine souterraine de Kakula, Ivanhoe a en effet ajusté ses prévisions pour 2025 à une fourchette de 370 000 à 420 000 tonnes de cuivre, contre 520 000 à 580 000 tonnes initialement prévues.

BHP-backed startup delivers first copper at Chile leaching plant

Bloomberg News | June 3, 2025

A Chilean startup backed by BHP Group has delivered its first copper cathodes from a demonstration plant at a mine site in northern Chile as the industry looks to squeeze out more metal from lower quality ore.

Ceibo extracted the metal from sulfide ores at a mine owned by Cia. Minera San Geronimo, or CMSG, using a proprietary leaching process, the two companies said in a statement Tuesday.

Ceibo and firms such as Jetti Resources LLC and Rio Tinto Group’s Nuton venture are looking to roll out catalysts for liberating copper from low-grade ore that miners previously saw as too expensive and difficult to process.

With new deposits getting harder to find and develop, leaching offers a way to boost and extend output at existing mines at a time when the industry is scrambling to meet an expected surge in demand.

Ceibo’s process extracts copper from sulfide ores using existing plants, with electrochemical reactions bolstering recovery rates in shorter cycles. The company is also working with Glencore Plc on a leaching process at the latter’s Lomas Bayas mine in Chile.

BHP Ventures and Energy Impact Partners participated in Ceibo’s 2023 financing round, joining Khosla Ventures as investors.

Peru expects $4.8B in mining investment this year

Reuters | June 3, 2025
Peru’s Energy and Mines Minister Jorge Montero expects mining investment in the world’s third-largest copper producer to reach $4.8 billion this year, and output of the red metal to be 2.8 million metric tons, he said on Tuesday.

Peru in 2024 produced about 2.7 million tons of copper, lightly less than the prior year.

Speaking at a press conference, Montero also noted a concerning increase of informal and illegal mining in two key copper production areas, referring to the Apurimac and Arequipa regions of southern Peru.

Top copper mine Las Bambas, controlled by China’s MMG, is located in Apruimac, while Canadian miner Teck is developing the Zafranal copper project in Arequipa in partnership with Mitsubishi Materials.

The rise of artisanal copper mining has created a much-needed income for impoverished Andean Peruvians, despite bringing them into conflict with major miners.

US Supreme Court rejects Apache appeal to block Rio Tinto’s Resolution mine

Staff Writer | May 27, 2025

The US Supreme Court declined on Tuesday to hear an appeal by the Apache Stronghold seeking to block the development of the Resolution Copper mine in Arizona. The mine is a joint venture between Rio Tinto (ASX, LON, NYSE: RIO) and BHP (ASX: BHP).

The advocacy group, comprising members of the San Carlos Apache tribe of southeastern Arizona and conservationists, challenged a 2024 lower court decision that permitted a federal land swap allowing the mining companies to acquire land considered sacred by the Apache for the mine project.

A federal judge in Arizona had temporarily halted the land transfer on May 9, pending the outcome of the Supreme Court appeal.

The Resolution Copper project is 55% owned by Rio Tinto and 45% by BHP, with Rio serving as the operator.



The companies have so far invested over $2 billion into the project, which is poised to become North America’s largest copper mine. It contains the third-largest known copper deposit globally, and could meet over a quarter of US copper demand for decades.

Apache Stronghold first filed suit in 2021, claiming the project violates constitutional and statutory protections for religious freedom. They argue the mine would destroy the Oak Flat, known as Chi’chil Biłdagoteel in the Apache language, a sacred site where Western Apaches have conducted ceremonies for generations, including a traditional four-day coming-of-age ritual for young women.

The group also says the mine would violate an 1852 treaty in which the US government promised to protect Apache lands and ensure the tribe’s “permanent prosperity and happiness.”

Congress authorized the land swap as part of a 2014 defense spending bill signed by then-President Barack Obama. The legislation allowed Rio Tinto and BHP to exchange private lands for Oak Flat, located about 70 miles (113 km) east of Phoenix.

The transfer was contingent on the completion of an environmental impact statement, which was released in January 2021, during the final days of the first Trump administration. However, in March 2021, the Biden administration withdrew the statement, halting the transfer temporarily.

The US Forest Service is expected to reissue the environmental report, potentially allowing the land swap to proceed as early as June 16.

Copper ambitions
Rio Tinto is ramping up its copper portfolio to meet growing global demand, which analysts predict will soon outpace supply.

The company’s Oyu Tolgoi mine in Mongolia began underground production in 2023 and is projected to become the world’s fourth-largest copper mine by 2030.

In Peru, Rio Tinto has partnered with Chile’s state-owned Codelco and Canada’s First Quantum Minerals to develop the La Granja project, one of the world’s largest untapped copper deposits.

Rio is also investing in cleaner extraction technologies, including Nuton—a bioleaching process developed with Arizona Sonoran Copper (TSX: ASCU)—to recover copper from tailings and low-grade ores.

Terra Metals, Metalex seal $100M deal to form copper-cobalt partnership in Zambia

Staff Writer mining.com May 28, 2025

US-based critical minerals developer Terra Metals and resource investment firm Metalex Commodities have finalized talks on the creation of what they call a “new copper and cobalt production powerhouse” based in Zambia.

A signing ceremony is expected to be held in the US Embassy in Lusaka, underscoring the strategic alignment with US government priorities on critical mineral security, Terra Metals said in a press release Wednesday.

The signing will highlight the strengthening US-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region’s mining sector, it added.

The Delaware-registered miner currently holds mining and exploration assets in the Kabompo Dome, located about 129 km west of First Quantum Minerals’ Sentinel and Kalumbila mines and 177 km west of Barrick’s Lumwana mine.

Metalex, also based in the US, has trading operations in Nigeria and Zambia, focusing on critical minerals such as lithium, manganese, copper and cobalt.

The newly established partnership, called Lunda Resources, will look to commission a 240-tonne-per-hour copper and cobalt concentrator that will be used to process high-grade ores to supply strategic end-markets, including the US, through the Lobito Railway Corridor.

Construction of the smelter is already underway, with commissioning targeted for September 2025, said Terra Metals. To support the project, Metalex has committed $100 million in funding.

“This partnership is a leap forward for Zambia’s mining sector and a cornerstone of US-Africa industrial alignment,” said Terra Metals chairman Mumena Mushinge, who will also serve as the chair of Lunda Resources.

“We’re building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future,” Mushinge said.

Copper price must double to meet future mining needs — study

Staff Writer mining.com May 28, 2025

To meet the world’s future needs, copper prices must at least double their current levels in order to incentivize companies to build more mines, a study published in the latest issue of the SEG Discovery journal suggests.

According to the study, led by researchers from the University of Michigan, Cornell University and the University of Queensland, the problem isn’t about finding enough copper in the ground, but the rate at which companies are mining to satiate the rapid consumption of metal driven by two major themes: economic development and clean energy.

These two drivers of demand are at odds when it comes to how resources are to be allocated, because, as the study reveals, the current rate of mining can barely keep up with the copper needs for one, let alone both.

Racing against the clock

Despite concerns about reserve depletion, the global copper industry is still sitting in the near-exponential growth stage of mine output between now and 2050. According to the study’s estimates, more copper will be mined over the next 32 years than all of previous history (905 versus 784 million tonnes).

Nevertheless, this projected production would fall short of the demand for copper from just typical economic and population growth, said Adam Simon, a professor from the University of Michigan and co-author of the study.

This “business-as-usual” model of copper consumption predicts that about 1.75 billion tonnes of copper must be mined by 2050 to support current expectations of global growth, such as new infrastructure for the developing world.

Development vs. decarbonization

However, the mission to mine enough copper would seem impossible once demands from electrification and elimination of fossil fuels are factored in toward the mid-century mark.

The study estimates that transitioning to an EV fleet and associated grid upgrades requires upwards of 1.25 billion tonnes of the metal. Deriving wind and solar power requires another 2.3 billion tonnes, while building a power grid that relies on batteries for energy storage would need a staggering 3 billion tonnes.

During the proposed energy transition period from 2018 until 2050, the world’s total copper demand is projected to rise 2.2% annually, rising from 24.4 million tonnes per year to 50 million tonnes, while mined copper output is expected to lag behind at 1.9% per year, from 20.4 million tonnes a year to 37.1 million tonnes.

By then, over half of the world’s total copper endowment would have been mined (3.6 billion tonnes of 6.6 billion). This full electrical transition, according to the study, requires mining twice as much copper as the “business-as-usual” case.

At the same time, planned development in countries like India and Africa will require more copper. India alone needs 227 million tonnes to build and modernize its infrastructure, while building infrastructure across all 54 countries in Africa will require about 1 billion tonnes.

Collectively, low- and middle-income countries will need over a billion tonnes of copper, the equivalent of half a century of current production, to achieve parity with the US in terms of infrastructure and human development.

To meet an increasing supply gap, global mine output must increase by 16.7 million tonnes a year over the next three decades, as calculated by models used in the study.

The sheer scale of expansion required is daunting. It would necessitate either the construction of 36 new large-scale mines, the commissioning of 759 small mines, or a five-fold increase in output from the world’s top 10 producing mines, the authors note.

Each of these scenarios presents major feasibility challenges, particularly given that new large mines typically take more than 20 years to come online, and many existing large mines are nearing closure, they added.

High costs

Adding to this complexity is the rising capital intensity of mine development that has kept mining companies on the sidelines.

Recent brownfield projects in Latin America indicate a capital intensity of over $23,000 per tonne of annual production, a sharp increase compared to historical averages, the study said, citing a previous study from 2024. This metric, widely used in the mining sector, strongly correlates with the market price needed to justify investment.

As a result, the authors conclude that copper prices will need to exceed at least $20,000 per tonne—more than double current levels—to spur enough investment in new mining capacity.

Without such a dramatic price increase, it will be nearly impossible to meet future copper needs, even under the most conservative demand scenarios, they stressed.

Pathways forward

In short, there is an unavoidable trade-off when it comes to managing the world’s copper resource: building wind and solar-heavy grids means diverting them from infrastructure and social development.

To strike the right balance, the study identifies some realistic pathways forward, including the shift to nuclear energy as a primary power source, employing methane-fueled backup plants to support renewables and promoting hybrid vehicles over fully electric ones.

Without such policies, the supply of copper will inevitably fall short, at least under current market conditions, it concludes.

Trigon veut céder ses parts dans la seule mine industrielle de cuivre en Namibie pour 24 millions $

Agence Ecofin) - En 2023, Trigon Metals a relancé les opérations à la mine de cuivre Kombat, après plus d’une décennie d’arrêt. En décembre 2024, la société a annoncé la réception d’une offre d’Horizon Corporation pour l’acquisition de sa participation de 80% dans le projet namibien.

Trigon Metals a signé une convention définitive d’achat d’actions avec le britannique Horizon Corporation pour la vente de sa participation de 80% dans la mine de cuivre Kombat, la seule de ce type en Namibie. C’est l’annonce faite par la société minière canadienne le jeudi 29 mai, mentionnant une transaction de 24 millions USD.

Dans le détail, ce montant devrait être payé en huit tranches par Horizon Corporation. L’opération doit encore être soumise au vote de ses actionnaires pour une approbation définitive lors de l’Assemblée générale prévue le mercredi 11 juin prochain.

Pour rappel, les opérations ont repris sur la mine Kombat en 2023, après plus d’une décennie passée à l’arrêt. Trigon Metals avait opté pour une optimisation progressive des performances de cet actif, misant notamment sur l’exploitation de la mine à ciel ouvert, ainsi que sur le redémarrage de la mine souterraine d’Asis Ouest. Des projets dont la réalisation reste toutefois incertaine, alors que les activités sont de nouveau suspendues depuis janvier 2025 à cause de problèmes opérationnels survenus à la mine souterraine.

Si Trigon n’a pas expliqué les raisons motivant cet accord de vente, elle envisage d’utiliser les fonds issus de la transaction pour financer ses projets d’exploration. La compagnie détient notamment un actif d’exploration cuprifère dans la ceinture de cuivre du Kalahari. A cela s’ajoutent ses projets de cuivre et d’argent Silver Hill et Addana au Maroc.

De son côté, Horizon Corporation n’a pas encore révélé ses plans de développement de la mine Kombat. Notons que le reste du capital de cet actif (soit 20%) est réparti à parts égales entre la société namibienne Havana Investments et la compagnie minière publique Epangelo Mining.

Anglo Asian Mining PLC on Monday announced that it started production from Gilar, a new underground mine at the Gedabek site in Azerbaijan.

19 May, 2025

The Azerbaijan-focused gold, copper and silver miner said ore is now being mined from the higher-grade zone 4, and the copper and gold grades of the ore are consistent with the company's mining plan.

Chief Executive Officer Reza Vaziri said: "We are delighted to announce that Gilar has now entered production. After years of exploration and development works, I wish to thank all the team for their hard work in delivering this achievement. With over 54,000 tonnes of copper and 255,000 ounces of gold confirmed, Gilar is set to play a crucial role in our strategy to transition to a mid-tier, primarily copper-focused producer."