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Jubilee, Abu Dhabi company to form JV for Zambia waste rock project
Published: 28 Mar 24
Abu Dhabi's International Resources Holding (IRH) has exercised its right to proceed with the formation of a joint venture (JV) vehicle with diversified metals processor Jubilee Metals Group for the implementation of a copper waste rock project in Zambia, as well as to progress with the upgrade of Jubilee’s Roan copper facility together with the continued expansion of its chrome operations. The waste rock project scope targets the processing of in excess of 260-million tonnes of copper-containing surface material. The project is aimed at initially implementing four modular processing plants with a combined processing capacity of 2.4-million tonnes a year, capable of producing more than 20 000 t/y of copper in concentrates, starting in the second quarter.
Altona reports several achievements at Mozambique project
Published: 28 Mar 24
London-listed Altona Rare Earths recorded several achievements during the six months ended December 31, 2023, including its first Joint Ore Reserves Committee (Jorc) mineral resource estimate (MRE), a scoping study, the increase of Monte Muambe's holding to 51% and a mining licence application, CEO Cedric Simonet points out in its interim results for the period. As mentioned, the group published its first Jorc-compliant MRE at the Monte Muambe rare earths project in Mozambique in September, undertaken by consultancy Snowden Optiro, which included 13.6-million tons at 2.42% total rare earth oxides (TREO) using a cut-off grade of 1.5% TREO.
Freeport warns copper export ban could cost Indonesia $2bn in lost revenue
Published: 28 Mar 24
Copper miner Freeport Indonesia has warned the Indonesian government that banning exports of copper concentrate in June could lead to a loss of $2-billion in revenues for Jakarta, a company official said on Thursday. Indonesia's export ban takes effect from June in an effort to force miners to invest in domestic smelting facilities, thus adding value to their products, boosting earnings from exports.
Rivers near Congo copper and cobalt mines are toxic, report says
Published: 28 Mar 24
River water near some of Democratic Republic of Congo’s biggest copper and cobalt mines is toxic and may be causing widespread health problems. Scientists from Congo’s University of Lubumbashi tested water in four rivers this month near some of the country’s largest mines and found them to be “hyper-acidic” or “very acidic,” according to a report Wednesday by UK-based corporate watchdog RAID and Congo’s African Resources Watch, which both commissioned the research.
China smelters plan output cuts, no Q2 copper guidance price, sources say
Published: 28 Mar 24
China's top copper smelters have proposed a production cut of 5% to 10% and decided not to issue guidance prices for copper processing charges for the second quarter, two sources with knowledge of the matter said on Thursday. The announcements, made at a meeting of the China Smelters Purchase Team (CSPT) in the commercial hub of Shanghai, come after the world’s top producer of refined copper grappled with short supply and a sharp drop in TCs in the spot market.
Jiangxi Copper sees higher prices as it plans to raise output
Published: 28 Mar 24
Jiangxi Copper, China’s largest producer, said it expects prices to rise in the second half once the Federal Reserve cuts interest rates, while pledging to maintain double-digit growth in output despite calls to rein in production. Chinese smelters, including Jiangxi, said earlier this month they would control capacity in response to a tightening in global concentrate supplies following a slew of cutbacks at major mines. That has pushed the industry into cut-throat competition as processing fees on the spot market have fallen to near nothing.
Chile needs to finalise more lithium plan details to spur investment, miners say
Published: 28 Mar 24
The Chilean government's new plan to usher in private investment at a number of the country's lithium salt flats may stumble over unresolved details that will raise concerns for investors, mining executives and analysts said on Wednesday. Industry players said they are seeking information on how contracts will be awarded by officials in the country that is the world's second-biggest lithium producer and are worried about pushback from Indigenous communities and environmental campaigners.
DRDGOLD to determine economic viability of copper recovery from Copper 360’s tailings dams Has Video
Published: 27 Mar 24
Northern Cape copper company Copper 360 announced on Wednesday that it has signed a memorandum of understanding (MOU) with DRDGOLD’s Far West Gold Recoveries tailings retreatment subsidiary to conduct a due diligence on its copper tailings dams to assess their economic copper recovery viability. During the due diligence period, Far West Gold Recoveries will, through an independent expert, determine the total tonnage of tailings material by Lider survey applying a density of 1.4 tonnes per cubic metre.
Initial work shows potential of deposit at Morocco project
Published: 27 Mar 24
Aim-listed Critical Mineral Resources (DMR)has announced positive initial work at its Ifri project, in the Anti-Atlas in Morocco, with prospecting by its geological team demonstrating copper and silver in multiple shear zone and quartz vein structures with some structures containing gold mineralisation. Channel samples include assay results of 3.1% copper and 17 g/t silver; 1.95% copper and 15 g/t silver; and 0.86 g/t gold and 21 g/t silver.
Indonesian miner Amman asks for copper export ban delay
Published: 27 Mar 24
Indonesian copper miner PT Amman Mineral Internasional is in negotiations with the government to allow it to continue exporting copper concentrate beyond May 31, its chief executive said on Wednesday, while predicting a surge in output this year. Indonesia will impose an export ban on copper concentrate from June, a policy meant to force miners to invest in smelting facilities at home. The government wants miners to sell products with higher values to boost export earnings.
 
 
 

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