Copper

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Zambia says Saudi’s Manara interested in its copper assets

ByVictoria
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Saudi Arabia’s Manara Minerals is looking for critical minerals projects in Zambia to invest in, the southern African country’s mines minister Paul Kabuswe told Reuters on Thursday.

“They (Manara) are interested, but we do not know which ones yet,” he said on the sidelines of a mining conference in Riyadh, adding that an announcement on a potential mining deal between Zambia and Saudi Arabia is likely this year.

“We no longer want those agreements where we have 10% or 15%,” he said, adding that the government is also holding talks with Barrick Gold, Ivanhoe Mines and Chinese investors on their plans for new projects.

Source – Reuters

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Codelco boots copper 2024 but strains workers, delays maintenance

ByVictoria
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An internal document seen by Reuters showed Codelco’s production reached 1.328 million tons in 2024, at the low end of its target range and just about 3,500 tons higher than the quarter-century low in 2023.

The worker, who asked not to be identified because they were not authorized to talk about internal operations, said Codelco has yet to fix bottlenecks in transporting minerals in the mine.

Cristian Cifuentes, an analyst at the Center for Copper Studies (CESCO), said that the Ministro Hales mine is still at reduced capacity and the ramp up of Chuquicamata Underground has been “slower than we all thought.”

Source – Reuters

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Gold hits one-month high

ByVictoria
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Gold prices surged to a one-month peak on Thursday, nearing $2,700 per ounce, as softer U.S. inflation data fueled hopes of lower interest rates in 2025. Spot gold rose to $2,697.45 an ounce, while February gold futures climbed 0.4% to $2,728. Lower rates enhance gold’s appeal by reducing the opportunity cost of holding non-yielding assets.

Other precious metals saw mixed movement: platinum futures dipped 0.1% to $948.15 an ounce, while silver edged up 0.3% to $31.622.

Copper prices steadied after recent gains, with London futures rising 0.3% to $9,192.50 per ton.

Source – Econo Times

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Sterling Metals Maiden Exploration Program Delivers Multiple New Drill-Ready Copper Targets Following Successful 3D IP Survey at Copper Road

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This survey covered an expansive 5km by 3km area in the center of the Project, successfully pinpointing multiple high-priority, drill-ready targets. These findings are significant, highlighting both the potential of the near surface target zones as well as the Project’s capacity to host a large-scale copper porphyry mineral system at depth

Jeremy Niemi, SVP Exploration and Evaluation, commented, “We are very happy with how our maiden exploration season has advanced at the Copper Road Project. We took a very purposeful approach to develop geologically rich evidence for a large-scale copper porphyry mineral system and to identify targets that have the potential to host significant volumes of copper and molybdenum. In just eight months, we have achieved this and set the stage for drilling very exciting targets.”

The primary objective of the survey was to identify sizeable chargeable anomalies within the priority area of the Project.

Source – ACCESSWIRE / Yahoo Finance

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Copper’s early-year rally leaves investors unimpressed

ByVictoria
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The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

Source – Reuters

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Jubilee Metals face power challenges in Zambia

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“Over the past quarter, we have experienced significant challenges in our Zambian operations brought on by a combination of extraordinary circumstances outside of our direct control. We have addressed the power supply challenge by entering into an additional power supply agreement that sources power across a broader generation network to avoid localised exposure to network instabilities and a single power generation plant,” said Leon Coetzer the CEO of Jubilee Metals

Copper run-of-mine (ROM) and in process stock for Jubilee also increased sharply, reaching 1.21 million tons containing an estimated 8 466 tons of copper units now earmarked for future processing.

Source – Business Report

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Over the Weekend News!

ByVictoria
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Stealth Fed Dollar Crisis Predicted To Spark A Bitcoin Price Boom To Rival Gold

“Current inflation measures, such as consumer price index (CPI) and producer price index (PPI), are significantly lower than previous 40-year highs. However, they remain ‘stubborn’ or ‘sticky,’ resisting a return to the central bank’s preferred 2% target,” Fidelity Digital Assets research director Chris Kuiper wrote in a report that asked: “Why is no one talking about stagflation?”—defined as a combination of low economic growth and persistently high inflation.

Source – Forbes

Meet the Ultrathin Conductor Set to Replace Copper in Advanced Electronics

“We are breaking a fundamental bottleneck of traditional materials like copper,” said Asir Intisar Khan, who received his doctorate from Stanford and is now a visiting postdoctoral scholar and first author on the paper. “Our niobium phosphide conductors show that it’s possible to send faster, more efficient signals through ultrathin wires. This could improve the energy efficiency of future chips, and even small gains add up when many chips are used, such as in the massive data centers that store and process information today.”

Source – SciTechDaily

True North Copper Secures $53.44 Million in Capital Raising, Prepares for ASX Reinstatement

This move facilitates the company’s reinstatement of its securities to official quotation, following a consolidation of its issued capital and the settlement of various creditor liabilities.

These financial maneuvers are expected to strengthen True North’s operational foundation and strategic positioning in the mining sector.

Source – Tip Ranks

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New Gold Inc reports 2% increase in Q4 gold production

ByVictoria
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NGD’s gold production reached 298,303 ounces in 2024, whereas its guidance was 300,000-310,000 ounces.

New Gold’s copper production was at 14.5 million pounds for the fourth quarter, up 20% year over year. The annual copper production totaled 54 million pounds, within the company’s guidance of 50-60 million pounds.

The New Afton mine produced 19,652 ounces of gold and 14.5 million pounds of copper in the fourth quarter. Gold production increased 19% and copper production rose 15% from the third quarter of 2024. The B3 cave performed per expectations.

Source – Zacks

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Copper from Codelco jumped 17% in November

ByVictoria
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Copper production from Chile’s state-run miner Codelco, the world’s largest producer of the metal, jumped nearly 17% in November, helping to boost overall output of the metal in the mineral-rich nation by some 10%, data from copper commission Cochilco showed on Friday.

Taking Friday’s results into account, Chile’s total production in November was up 9.8% to 486,200 tons, Cochilco said.

Source – Mining.com