Le Cuivre

[energy_isere]

suite de ce post du 7 mai 2023 http://www.oleocene.org/phpBB3/viewtopi ... 3#p2368843

Alara starts copper concentrate production in Oman
The facility is expected to reach its full potential over the next two to three months.

March 6, 2024

Australia-based mineral exploration and mining company Alara Resources has begun producing copper concentrate at its Al Wash-hi – Majaza copper-gold mine in Oman.

The mine, with a capacity of one million tonnes per annum, is operated by Al Hadeetha Resources (AHRL), a 51% joint venture (JV) company of Alara.

Alara noted that the facility is expected to reach its full potential over the next two to three months.

It also noted that the first shipment of around 1,000 dry tonnes of copper concentrate is scheduled for delivery to Trafigura in April 2024.

Prior to the commencement of copper ore processing, Alara conducted comprehensive testing of all major equipment, including a trial run with basaltic rock.

These tests confirmed that all systems were operational, with a technical issue in the tailings filter press being the only exception, which is currently being addressed and does not affect the planned production levels.

Alara’s operations in Oman extend beyond the Al Wash-hi – Majaza mine, according to the company’s press release.

The company is actively pursuing exploration activities at its Block 7 exploration licence under the Daris JV and at the Mullaq and Al Ajal exploration licences under the Al Hadeetha

https://www.mining-technology.com/news/ ... roduction/

[energy_isere]

suite de ce post du 12 mars 2023 http://www.oleocene.org/phpBB3/viewtopi ... 1#p2364551

US court green lights land transfer for Resolution Copper project
The proposed mine is expected to meet more than a quarter of US copper demand.

March 4, 2024

The US 9th Circuit Court of Appeals has upheld an earlier decision, allowing the federal government to transfer land in Arizona to mining giants Rio Tinto and BHP for the Resolution Copper project, Reuters reported.

This ruling supports a 2014 Congressional decision and has significant implications for the mining sector and indigenous communities.

The court’s 6-5 decision comes at a politically charged time, with the US presidential election on the horizon.

The Resolution Copper project has been a point of contention, with former President Donald Trump supporting the mine and President Joe Biden, who won Arizona in 2020 with Native American support, facing a complex situation.

The Apache Stronghold, a non-profit group that includes the San Carlos Apache tribe, has long opposed the mine, citing the destruction of a sacred site.

The proposed mine is expected to meet more than a quarter of US copper demand, which is critical for the renewable energy transition.

The full bench of the 9th Circuit Court heard the case in March, following a preliminary ruling in favour of Rio Tinto in 2022.

The dispute revolves around Oak Flat, a site sacred to the Apache and rich in copper reserves, which are essential for electric vehicle production.

https://www.mining-technology.com/news/ ... -transfer/

[energy_isere]

suite de ce post du 30 juillet 2023 http://www.oleocene.org/phpBB3/viewtopi ... l#p2374632

La grosse mine de Cuivre et Or de Cascabel en Equateur va se faire :

SolGold announces $3.2bn Ecuador investment
The deal is the largest mining investment in Ecuador’s history.

Alfie Shaw March 7, 2024

On Wednesday, shares in Ecuador-focused SolGold rose by more than 23% after the company announced a $3.2bn investment from the country’s government in its flagship Cascabel copper-gold project.

According to SolGold, the deal is the largest mining investment in Ecuador’s history, and is separate from the $311m already committed under the Investment Protection Agreement (IPA) for Cascabel. The new deal is known as the Complementary IPA.

The deal was signed at the Prospectors and Developers Association of Canada (PDAC) meeting in Toronto by Ecuador’s Minister of Production, Foreign Trade, Investments and Fisheries, Sonsoles Garcia, and Scott Caldwell, CEO of SolGold.

Caldwell said: “The Complementary Investment Protection Agreement not only reinforces the protections for our key investment in Ecuador but also symbolises a deepening of our relationship with the Ecuadorian State. President Noboa’s attendance and insightful speech at the PDAC convention were warmly welcomed by the mining community and underscores the significant support of his administration for responsible mining in Ecuador.”

In February, SolGold released a new pre-feasibility study (PFS) for Cascabel under which it managed to decrease upfront costs. The previous PFS submitted in April estimated the cost of the project to be $2.75bn, but the first process plant module, pre-production capital used for initial mine development and infrastructure alone is now estimated to cost $1.55bn.

SolGold hopes its vast size will make Cascabel a multi-generational mining asset and potentially one of the largest copper-gold mines in South America. Construction is set to start in 2025.

The Australian mining company’s share price halved over the past year, and it had to cut spending and strategically review its assets to stay above water. Investors fear management will be unable to deliver Cascabel to its full potential given this recent history.

In London on Wednesday afternoon, SolGold’s shares were trading 23.07% higher. Year-to-date the stock is down 18%.

https://www.mining-technology.com/news/ ... t/?cf-view

[energy_isere]

Peru copper output seen growing to 3mt in 2024, minister says

Reuters | March 8, 2024 | 7

Peru’s copper production should reach 3 million metric tons this year after hitting 2.76 million tons in 2023, energy and mining minister Romulo Mucho said in a news conference on Friday.


Mucho added that the government was working with Chinese miner MMG to reach agreements with local communities who oppose the Chalcobamba project at the Las Bambas mine, an expansion he said could help the mine in southern Peru eventually boost output to some 400,000 tons of copper annually.

Mining output in Peru, the world’s No. 2 copper producer, has been rising since 2023 after protests caused work stoppages. In January, Peru’s mining and hydrocarbons sector grew by 4% from the previous year.

Earlier this year, MMG predicted that Las Bambas would produce between 280,000 and 320,000 tons of copper in 2024, after putting out 302,033 tons in 2023.

Indigenous communities around Las Bambas mine have previously blocked access roads to call for more benefits from the mine. Some protesters are still camping on the grounds of the Chalcobamba pit.

“The development of Chalcobamba is important, and the ministry of energy and mines is intervening strongly in the company’s negotiations with the communities,” Mucho said.

Workers at Las Bambas, one of the largest copper mines in Peru, also went on strike late last year demanding better profit sharing and transport conditions.

The mining sector represents 60% of Peru’s total exports, but conflicts and resistance from local communities have paralyzed or delayed multi-million-dollar projects.

More investment

Mucho said Peru’s portfolio of mining investments has grown to $54.56 billion for this year, up 2.7% from 2023.

“We’re once again at peace, Peru has guarantees and respect for its investments,” Mucho said.

The minister, who took office in February after his predecessor stepped down, also said the government is working to tackle illegal mining, a headache for firms and the state as wildcatters encroach upon formal mining concessions and unsafe working conditions have left miners dead.

Last year, the government enacted a law giving wildcatters three months to reach an agreement with the holder of the concessions where they operate.

“A new mining formalization law is urgently needed,” Mucho said.

The government estimates that nearly half a million informal miners operate in the country, mainly mining for gold.

https://www.mining.com/web/peru-copper- ... ster-says/

[energy_isere]

First Quantum’s Panama mine closure to cost around $800m, minister says

Reuters | March 6, 2024

The cost of the closure of Canadian miner First Quantum’s copper mine in Panama is estimated at around $800 million, Trade and Industry Minister Jorge Rivera said on Wednesday.


An inter-ministry coalition, which is developing the mine’s closure plan, is working on alternative measures to recoup funds so that the cost does not come out of the state’s coffers, Rivera told journalists.

Panama’s government ordered the shutdown in December after protests calling for more environmental protections erupted across the country and a court ruling deemed the contract to run the mine unconstitutional.

It is still unclear who will pay for the mine’s closure process, but the Panamanian government suggested on Tuesday that First Quantum’s unit in the country set out financial guarantees to cover the cost of closing its lucrative copper mine.

Creating a plan to close the mine could take between six and eight months, the minister said, noting Panama is headed to elections in May so the next president will be the one in charge of finishing it.

The mine’s activity represents about 5% of the country’s GDP, and Panama is expected to see growth slow in 2024 to 2.5% from 7.5% as a result of the closure of the mine, according to data from the International Monetary Fund (IMF).

https://www.mining.com/web/closure-of-f ... ster-says/

[energy_isere]

La RDC a dépassé le Pérou en 2023 pour devenir le deuxième producteur mondial de cuivre

Agence Ecofin 14 mars 2024

Selon Wood Mackenzie, la production de cuivre en RDC devrait dépasser celle du Pérou d’ici 2026-2027, faisant du pays d’Afrique centrale le deuxième producteur mondial du métal rouge.

La RDC a exporté 2,84 millions de tonnes de cuivre en 2023. C’est du moins ce que rapporte le ministère des Mines dans un rapport de statistiques provisoires publié cette semaine, classant donc le pays comme le deuxième producteur mondial de cuivre, devant le Pérou dont les mines ont livré 2,76 millions de tonnes en 2023.

Si ce changement de statut doit encore être confirmé avec des statistiques définitives, il s’inscrit dans une tendance à la hausse de la production congolaise de cuivre, observée depuis quelques années. En 2022, les mines de cuivre en RDC avaient ainsi livré 2,36 millions de tonnes, ce qui avait déjà permis au pays de dépasser la Chine pour devenir le troisième producteur mondial de cuivre.

Avec cette performance, la RDC prend de l’avance sur une prévision du cabinet Wood Mackenzie, qui estimait en mai 2023 que le pays d’Afrique centrale devrait dépasser le Pérou à l’horizon 2026-2027. Alors que le Pérou s’attend à une production de cuivre de 3 millions de tonnes en 2024, notons que la RDC devra poursuivre sur sa lancée des dernières années pour maintenir ce nouveau statut.

Pour rappel, l’exploitation du cuivre en RDC est principalement assurée par une vingtaine de sociétés parmi lesquels le géant chinois CMOC sur les mines Tenke Fungurume et Kisanfu, le canadien Ivanhoe Mines à Kamoa-Kakula, ou encore le suisse Glencore.

https://www.agenceecofin.com/cuivre/140 ... -de-cuivre

[energy_isere]

Le cuivre repasse la barre des 9 000 dollars la tonne, son niveau le plus élevé depuis 11 mois

Agence Ecofin 15 mars 2024

Depuis plusieurs mois, le cuivre se négociait à moins de 9 000 dollars la tonne. Le prix du métal rouge est en hausse, notamment car la Zambie fait face à une crise de l’électricité due au phénomène El Niño, avec des perturbations potentielles sur le fonctionnement des mines de cuivre.

Le prix du cuivre a franchi la barre des 9 000 dollars la tonne vendredi 15 mars sur le London Metal Exchange, atteignant ainsi son plus haut niveau depuis 11 mois. Le métal rouge est en hausse, sur fond d’inquiétudes quant à l’offre en Amérique du Sud et en Afrique.

Selon les analystes de Macquarie, le marché du cuivre, aussi bien les concentrés que le métal raffiné, devrait enregistrer un déficit en 2024. Entre la fermeture fin 2023 de la mine de cuivre Cobre Panama qui représentait 1,5 % de l’offre mondiale et la potentielle baisse de la production en Zambie, en raison de perturbations dans l’approvisionnement électrique, la production mondiale pourrait ne pas satisfaire une demande en hausse. Macquarie s’attend donc à voir les prix progresser, avec un pic à 9 500 dollars la tonne d’ici le troisième trimestre 2024.

Notons qu’au-delà des fluctuations actuelles, la hausse des prix du cuivre à moyen et long terme fait consensus auprès des analystes. Citibank évoque notamment un prix de 15 000 dollars la tonne pour le métal rouge d’ici 2025, en raison de la demande croissante du cuivre dans les secteurs liés à la transition énergétique. La situation actuelle et les perspectives favorables devraient être bien accueillies dans plusieurs pays africains, dont la RDC et la Zambie, les deux premiers producteurs du continent.

https://www.agenceecofin.com/cuivre/150 ... is-11-mois

[energy_isere]

Prospect de cuivre Or au Mexique : Zaachila
Campagne de forages d'exploration à venir.

Vortex Metal’s Secures Community Approval for VMS Copper-Gold Zaachila Project

By NS Energy Staff Writer 13 Mar 2024

Vortex Metals is the parent company of Mexican subsidiary Empresa Minera Acagold, which is the owner of a 100% interest in two drill-ready high-potential copper volcanogenic massive sulfide (VMS) properties
..............................

https://www.nsenergybusiness.com/news/v ... a-project/#

[energy_isere]

Et si la hausse du cuivre ne faisait que commencer ?

vidéo ECORAMA•21/03/2024

Le prix du cuivre, coté à la bourse des métaux de Londres, a retrouvé le seuil des 9 000 dollars la tonne. Pourra-t-on retrouver les niveaux historiques de 11 000 dollars atteint en 2021 ? Le cuivre va-t-il devenir la star des matières premières ?
L'analyse de Laurens Lafont, rédacteur en chef de la lettre d'investissement Propos Utiles. Ecorama du 21 mars 2024, présenté par David Jacquot sur Boursorama.com

vidéo 6mn https://www.boursorama.com/videos/actua ... e260fc847e

[energy_isere]

Extension du minage de Cuivre à la mine de Centinela au Chili . 2.5 milliards de dollars d'investissements.

Antofagasta secures $2.5bn project financing for Centinela expansion project

By NS Energy Staff Writer 20 Mar 2024

The Centinela Second Concentrator Project aims to enhance production by 170,000 tonnes of copper-equivalent output, comprising 144,000 tonnes of copper annually along with associated gold and molybdenum by-products, with the start of first copper production from the brownfield expansion project anticipated to commence in 2027


Copper mining major Antofagasta has secured project financing of $2.5bn for setting up a second concentrator plant as part of the Centinela expansion project in the Antofagasta Region in Chile.

In this connection, Minera Centinela, a joint venture between Antofagasta (70%) and Marubeni (30%), has inked definitive agreements with a consortium of international lenders.

The $2.5bn project financing is being offered in the form of a term loan facility with a drawdown period spanning four years and a term of around 12 years.

It has been sourced from an array of international lenders, including the Japan Bank for International Cooperation, Export Development Canada, and the Export-Import Bank of Korea.

Various commercial banks such as Crédit Agricole Corporate and Investment Bank, Natixis Corporate & Investment Banking, KfW IPEX-Bank, Societe Generale, and Sumitomo Mitsui Banking are also part of the consortium.

Antofagasta CEO Iván Arriagada said: “We have agreed competitive financing terms with strong international lenders, which is testament to the high-quality nature of this project.

“The Centinela Second Concentrator Project is a prime example of how Antofagasta can unlock value from its portfolio and our dedication to sustainable and responsible copper production. The Company remains focused on delivering growth and returns, while maintaining a strong balance sheet.”

Furthermore, an agreement has been announced by Antofagasta which grants Centinela the opportunity to procure water for its present and future endeavours from an international consortium.

The consortium would acquire Minera Centinela’s current water supply infrastructure and implement an extension to cater to the mine’s second concentrator plant. The completion of the agreement necessitates the international consortium to finalise its funding, which is anticipated to conclude within the year.

As per the terms of the agreement, Minera Centinela will transfer its existing water conveyance assets and entitlements for an estimated sum of $600m to be received in 2024.

Additionally, the consortium will undertake the construction and associated capital expenditures for the proposed expansion of the water conveyance system, estimated at around $380m.

In late 2023, Antofagasta and Marubeni decided to proceed with the expansion of the Centinela copper mine with an investment of $4.4bn. This involves the addition of a new 95 kilotonnes per day (ktpd) concentrator facility approximately 7km south of the existing facility with the aim to double the production capacities for copper concentrate.

The Centinela Second Concentrator Project is set to boost production by 170,000 tonnes of copper-equivalent output, consisting of 144,000 tonnes of copper annually alongside associated gold and molybdenum by-products.

Initial copper production from the expansion project is anticipated to commence in 2027.

https://www.nsenergybusiness.com/news/a ... n-project/#

[energy_isere]

Permis accordé pour une mine de Cuivre et Or aux philippines :

Celsius gets mining permit for Philippines copper-gold project
The mineral production sharing agreement (MPSA) for the Maalinao-Caigutan-Biyog Mining Project (MCB) project is valid for 25 years with an option to renew for another 25 years.

March 18, 2024

Celsius Resources’ subsidiary Makilala Mining Company has secured an MPSA from the Philippine Government for its MCB mining project.

This is said to be the first copper project approved in the Philippines in the past 15 years.

The MPSA, authorised by the Philippine Department of Environment and Natural Resources, provides exclusive rights for exploration, development and production of copper and associated minerals in an area spanning around 2,500 hectares.

It is valid for 25 years with an option to renew for another 25 years.

The approval aligns with the objectives of the Philippine Mining Act of 1995, aiming to enhance the national economy through the responsible development and utilisation of mineral resources.
..........................

https://www.mining-technology.com/news/ ... r/?cf-view

Mineral Resource
The Mineral Resource Estimate at MCB was based on the information gathered from the diamond drilling that was completed in addition to technical assessment and subsequent internal reports and interpretations.

A maiden JORC compliant Mineral Resource Estimate (“MRE”) was declared for the MCB Project in 2021, comprising of 313.8 million tonnes @0.48% copper and 0.15 g/t gold, for 1.5 million tonnes of contained copper and 1.47 million ounces of gold of which:

290.3 million tonnes @ 0.48% copper and 0.15g/t gold is classified as indicated; and
23.5 million tonnes @ 0.48% copper and 0.10 g/t gold is classified as inferred.

https://www.makilalamining.com/our-projects/

[energy_isere]

Boliden investi dans son usine de Rönnskär en Suéde :

Boliden to invest $463m to boost Swedish copper smelter capacity
The investment aims to increase the copper cathodes and precious metals production capacity at the Rönnskär smelter.

March 19, 2024


Boliden’s investment in a new Rönnskär tank house is set to enhance production by 2026. Credit: Boliden Group.


The move is expected to ramp up the production of copper cathodes and precious metals at the smelter, reaching full capacity by the second half of 2026.

The investment is anticipated to be partially offset by a potential insurance payout of up to Skr3.4bn.

Boliden plans to begin investing in the new facility in 2024. The plant will have production capacity of 230 kilotonnes (kt), matching the previous output of the smelter, which faced a fire incident a year ago.

This capacity expansion is approved under the existing environmental permit.

Furthermore, Boliden unveiled a Skr2.5bn investment plan for the Boliden Area to enhance dewatering and paste facilities, facilitating the utilisation of tailings as backfill material in the Kankberg, Renström and Maurliden mines.

This move extends production in the Boliden Area for nearly ten years, reaching until the late thirties.

Boliden president and CEO Mikael Staffas said: “All of our major investment projects are on schedule and are now approaching commissioning, which is very pleasing. Through these, both Aitik and Odda are future-proofed for the foreseeable future.

“It also gives us the opportunity to look ahead and now we present several decisions that create a corresponding situation for Rönnskär and the Boliden Area. In addition, we are announcing a technical breakthrough that has the potential to become a new and significant revenue stream for our smelters.”

Boliden has also updated its investment guidance for 2024, now projecting expenditures to reach Skr15.5bn. This represents an increase of Skr1.5bn from prior forecasts.

Around Skr1bn of the revised amount has been earmarked for the new Rönnskär tank house and Skr500m for enhancements at the Odda zinc smelter in Norway.

In June 2023, Boliden partially restarted its Rönnskär copper smelter after suspending production because of the fire.

https://www.mining-technology.com/news/ ... r/?cf-view

[energy_isere]

suite de ce post du 17 dec 2023 http://www.oleocene.org/phpBB3/viewtopi ... 4#p2381794

Freeport Resources est à la recherche de partenaires pour le développement du gros projet de Cuivre Yandera en Papouasie Nvlle Guinée.

Freeport Resources seeks partners for Yandera copper project feasibility study

Staff Writer | March 19, 2024


Exploration drill program at Yandera. Credit: Era Resources Inc. (now part of Freeport Resources Inc.)

Freeport Resources (TSXV: FRI) has begun the hunt for strategic partners to take its Yandera copper project in Papua New Guinea through feasibility. With the copper price reaching $4 per lb., this may be an opportunity to create a new copper producer.

The company calls this project one of the world’s largest undeveloped copper projects.

An NI 43-101 report prepared by SRK Consulting late in 2016 for Era Resources (a private company) put the total measured and indicated resources at 728.6 million tonnes grading 0.33% copper, 0.01% molybdenum and 0.10 ppm gold. In terms of contained metal, that represents 6.2 million lb. of copper equivalent.

There is also an inferred resource of 230.6 million tonnes grading 0.29% copper, 0.01% molybdenum and 0.04 ppm gold.

The deposit is divided into oxide and non-oxide resources with roughly 90% falling in the non-oxide category.

The Yandera project was subjected to intensive drilling in the late 1960s and 1970s by a number of companies. Later, Era Resources spent over $100 million drilling 144,000 metres so that a resource estimate could be made. Freeport acquired the Yandera project in 2021, when it bought out Carpo, which controlled Era Resources.

The Yandera resource has a known 5-km strike length within a 17-km trend. The depth has been little investigated. Freeport has a plan for expanding the resources and developing an open pit mine. A mine life of at least 20 years is planned during which time a total of 540 million tonnes of ore will be mined.

https://www.mining.com/freeport-resourc ... ity-study/

[energy_isere]

Le conglomerat Indien Adani construit la plus grande raffinerie de Cuivre au monde.

Adani commissions first unit of Mundra copper refinery in Gujarat, India

By NS Energy Staff Writer 29 Mar 2024

The Indian conglomerate is investing approximately $1.2bn in the greenfield copper smelter in Gujarat, which will eventually have a capacity of 1MTPA to potentially make it the largest single-location custom smelter in the world

Adani Enterprises’ subsidiary Kutch Copper has begun operations at the first unit of its greenfield copper refinery project at Mundra in the Indian state of Gujarat.

By shipping the first batch of cathodes to customers, the Adani group has made its debut in the metal industry.

Adani Enterprises is investing approximately $1.2bn to establish the copper smelter, which will have a capacity of 0.5 million tonnes per annum (MTPA) in the first phase.

The second phase of the greenfield copper refinery project at Mundra is expected to bring an additional capacity of 0.5MTPA.

According to Adani Enterprises, the completion of the second phase will make the facility the largest single-location custom smelter in the world.

The Indian greenfield copper refinery project is anticipated to generate 2,000 direct and 5,000 indirect employment opportunities.

Adani Enterprises said that one-third of the plant area has been allocated as green belt space. Besides, 15% of the capital has been allocated towards environmental protection.

Furthermore, the Mundra copper unit plant deployed a zero-liquid discharge model to mitigate the ecological impact. The plant also leverages desalinated water for operations, and to reduce waste, it recycles treated wastewater within processes.

Adani Group chairman Gautam Adani said: “With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector but also driving India’s leap towards a sustainable and aatmanirbhar (self-reliant) future.”

“Our speed of execution in this ambitious, super-sized project underscores our commitment to take India to the forefront of the global copper sector.

“We believe the domestic copper industry will play a crucial role in achieving our nation’s goal of carbon neutrality by 2070 by strengthening our green infrastructure hand in hand with mature environmental stewardship.”

Last month, Adani signed contracts to purchase 1.6MTPA of copper concentrate for the Mundra copper smelter.

https://www.nsenergybusiness.com/news/a ... rat-india/

[energy_isere]

Un projet de mine de Cuivre aux USA (Michigan) : Copperwood Project, Michigan, USA

Copperwood Project, Michigan

Project type : Copper ore mine

Mine Type : Underground

Location : Gogebic county, Michigan, US

Expected Production : 30,000 tonnes of copper annually

Status : Development-stage

Expected start of construction : Late 2022

Life of mine : nearly 11 years

Owner : Highland Copper Company Inc (100%)

The Copperwood Project is a copper ore mine located in the US state of Michigan within the Porcupine Mountains copper district. The project is currently in the development stage.

Highland Copper Company, a Canadian copper development company, owns 100% stake in the property.

The project has received all permits to begin construction, which is expected to begin in late 2022. As of September 2022, a federal operating permit to construct and operate a pumping station on Lake Superior is awaited.

Initially, the development of the mine is expected to entail an investment of $275m.

.........

Reserves
The Copperwood feasibility study reported mineral reserves (proven and probable) of 25.4 million tonnes (Mt) at an average grade of 1.43% Copper (Cu) and 3.83 g/t Silver (Ag). The final proven and probable mineral reserve estimate is based on the assumption of a 3% ore loss.

Inferred resources at the project are 34.4 Mt in LCBS unit, and 15.5 Mt in UCBS unit.
...........................

https://www.nsenergybusiness.com/projec ... chigan-us/

Le projet va être aidé par l'état du Michigan :

Michigan approves $50m funding for Copperwood Project
The funding was awarded from the Strategic Site Readiness Programme (SSRP).

March 27, 2024

lire : https://www.nsenergybusiness.com/projec ... chigan-us/