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...The business has also been hit by price collapses for diamonds and platinum as well as problems at its Quellaveco copper project in Peru that only started production in 2022....
...Cost savings from copper look unlikely, except perhaps from marketing 40 per cent more copper production....
...Industrial metals including copper and zinc have outperformed global stocks this year as signs of a revival in demand from Chinese manufacturers add to concerns over tighter global supply....
...Norilsk Nickel, the metals group controlled by Russia’s richest man Vladimir Potanin, will move some copper smelting production from its home country to China, as western sanctions restrict access to key...
...On this basis, its $21bn of copper assets are larger than its iron ore business....
...Chinese copper smelters are working on a joint plan to cut output to cope with the raw material shortage....
...high-grade copper mines....
...Prices of these industrial metals have fallen sharply in the past couple of years. In its full-year results on Thursday, the miner said it would rethink its portfolio....
...“The copper is the real thing here — the copper is first-class,” said Frost at Artemis. “If you believe in the structural growth of copper, the offer price is too low.”...
...Copper is set to finish the year as the top-performing industrial metal, as a series of production disruptions squeezes the supply of a commodity used in power lines, cars and household appliances....
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...And with copper prices staging a recovery, supply is not going to be curtailed any time soon. This will stimulate longer-term cobalt demand....
...Margins have drifted lower since but strong customer demand and higher copper prices suggest they will remain above pre-pandemic levels for some time yet....
...vital industrial metals on two of the world’s largest exchanges....
...Stausholm said the demand outlook was improving for copper and aluminium, while China’s appetite for iron ore, which is the crucial ingredient for steel making, was undimmed....
...The country consumed about four times the amount of copper than the EU and the UK combined in 2022, according to the International Wrought Copper Council. It is also the top user of nickel....
...Global copper producers have long eyed the mine, which holds one of Africa’s largest deposits. Khoemacau’s flagship project aims to deliver 60,000 tons of copper a year....
...Europe’s largest copper producer Aurubis has dismissed three of its top management, including the chief executive, following a scandal involving a string of metal thefts....
...Last year US authorities blocked a copper-nickel project in Minnesota to preserve a wilderness area....
...Under Crown Prince Mohammed bin Salman’s “Vision 2030” to modernise Saudi Arabia’s economy, mining and minerals processing are earmarked to become the third industrial “pillar” next to oil and gas and petrochemicals...
...Aurubis, Europe’s largest copper producer, said it had suffered a €185mn hit as a result of a suspected large-scale fraud perpetrated by suppliers in collusion with employees, after discovering a shortfall...
...Both mines were sold to CMOC by US copper mine Freeport McMoran after pressure from activist investor Carl Icahn....
...Electric cars are copper intensive, and electricity from solar farms and windmills needs to be carried over copper wires to where electricity users are....
...The approach for 107-year-old Anglo comes as demand for copper is expected to soar because of a global transition away from fossil fuels....
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