Articles for tag: billion, boost, Copper, earmarks, output, Teck

February 12, 2025

Ron Finklestien

mining

Teck Invests Up to $3.9 Billion to Enhance Copper Production

Teck Resources Charts Growth Path with Multinational Mining Expansions Teck Resources has laid out an ambitious plan focused on expanding its production capabilities through manageable key projects in Chile, Canada, Peru, and Mexico. Quebrada Blanca Expansion Paves the Way for Copper Production A significant element of Teck’s strategy is the Quebrada Blanca mine, where the company holds a 60% interest. The QB2 expansion achieved its first production milestone by March 2023, reaching design throughput rates expected by the end of 2024. In the fourth quarter of 2024, Quebrada Blanca contributed 60,700 tonnes of copper to Teck’s total record quarterly production

December 14, 2024

Ron Finklestien

mining

Forecasting Copper Prices: Trends and Predictions for 2025

Copper Prices: The Rollercoaster Ride of 2023 and Expectations for 2025 In May, Comex copper reached an unprecedented intraday high of nearly $5.20 per pound, or $11,500 per tonne. This surge resulted in net trading volumes soaring to $100 billion in a single day, twice the daily average for the Dow. However, cooler heads in London recognized that this price spike was primarily a U.S.-based event. Cargoes intended for Rotterdam and Shanghai were swiftly redirected, while LME futures have yet to reach $11,000 per tonne. Copper: The Next Big Thing A French hedge fund manager, known for being consistently confident,

November 9, 2024

Ron Finklestien

mining

Ero Copper Lowers Production Forecast, Stock Price Drops Sharply

Leadership Shake-Up at Ero Copper Amid Quarterly Production Report Quarterly Production Results In the third quarter, Ero Copper’s Caraiba operation produced 10,766 tonnes of copper, while the Xavantina operation yielded 31,446 ounces of gold. The company maintained its full-year gold production guidance at the increased range of 60,000 to 65,000 ounces. Following this announcement, Ero Copper’s shares dropped 9.1% by 12:10 p.m. EDT on Wednesday. The company’s current market capitalization stands at C$2.4 billion ($1.7 billion). Changes in Leadership On the same day, Ero Copper revealed significant leadership changes coinciding with the retirement of its co-founder and chairperson, Noel Dunn.

November 6, 2024

Ron Finklestien

mining

Copper Prices Plunge to Lowest Since May Amid Trump’s Victory Strengthening the Dollar

Market Turmoil: Copper Prices Plummet Amid Trade Concerns Copper declined by as much as 4.3% during a widespread selloff on the London Metal Exchange, reflecting sharp losses in the Chinese yuan. The metal also dropped 4.6%, settling at $9,389 a tonne during early morning trading on the Comex in New York. [Click here for an interactive chart of copper prices] In addition to the immediate effects of a weaker currency in the world’s largest commodities market, traders are on alert for a potential drop in demand if Trump acts on his threats to escalate the US-China trade war. “This situation

October 7, 2024

Ron Finklestien

mining

High-Grade Copper Discovery by Foran in Tesla Zone at McIlvenna Bay

Key Highlights: – Significant copper-rich breccia and mineralization found in Hole TS-24-30. – High-grade section of massive sulphide with 4.29% copper, 8.21% zinc discovered. – Tesla zone’s potential demonstrated through infill drilling. – McIlvenna Bay boasts substantial copper and zinc reserves. Foran Mining Corporation has uncovered high-grade copper at McIlvenna Bay in the Tesla zone. Hole TS-24-30 revealed a broad zone containing copper-rich breccia, stringer-style mineralization, and zinc-rich massive sulphide. Within this discovery, a section of massive sulphide measuring 3.4 meters graded 4.29% copper, 8.21% zinc, 55.5 g/t silver, and 0.03 g/t gold. Notably, a subsection of this area showed

September 12, 2024

Ron Finklestien

mining

The Bold Move of Magna Mining in Acquiring Sudbury Copper Mine

Magna’s Strategic Acquisition Set against a backdrop of relentless ambition, Magna Mining recently announced an audacious move to acquire the Sudbury copper mine from KGHM. The eye-catching deal involves a mix of C$5.3 million in cash, C$2 million in Magna common shares upfront, an additional C$2 million in cash expected by the end of 2026, and contingent payments that could potentially soar to an impressive C$24 million based on future milestones. Expanding Financial Horizons Looking to fortify its financial standing, Magna is actively pursuing a C$10 million term loan and a C$10 million letter of credit facility with Fédération des

May 22, 2024

Ron Finklestien

mining

Six new large mines need to come online annually by 2050 to meet global copper demand – study

This is particularly the case taking into account that the Inflation Reduction Act, signed into law in 2022, calls for 100% of cars manufactured to be electric vehicles by 2035. But an electric vehicle requires three to five times as much copper as an internal combustion engine vehicle — not to mention the copper required for upgrades to the electric grid. “A normal Honda Accord needs about 40 pounds of copper. The same battery electric Honda Accord needs almost 200 pounds of copper. Onshore wind turbines require about 10 tons of copper, and in offshore wind turbines, that amount can

April 26, 2024

Ron Finklestien

mining

Copper juniors converge in British Columbia, Yukon Territories

Juniors are extremely important to major mining companies because they are the firms finding the deposits that will become the next mines. In this way, juniors help the majors to replace the ore that they are constantly depleting in their operating mines. Where to look? BC and the Yukon The mining industry is on the hunt for large copper deposits that have favorable grades and are in locations amenable to mine developments. Over 80% of the world’s copper production comes from large-scale open-pit porphyry copper mines. In Canada, British Columbia enjoys the lion’s share of porphyry copper/ gold mineralization. These

April 25, 2024

Ron Finklestien

mining

BHP-Anglo American potential merger: It’s all about copper

An electrified world has become increasingly dependent on battery metals, particularly on copper, and BHP is, not surprisingly, eager to secure a leading position in the market. A tie-up would give the mining giant about 10% of the global copper production. It would also boost its presence in the world’s top copper producing countries Chile and Peru, as with the acquisition of Anglo American, BHP would gain access to three of the world’s largest copper mines — Collahuasi (with ownership of 44%), Los Bronces (50.1%), El Soldado (50.1%) and Quellaveco (60%). This would improve the company’s exposure to copper by

April 23, 2024

Ron Finklestien

mining

Anglo American bullish on copper, cuts diamond targets

In Chile, where the company has the bulk of its copper operations, production rose 6%, with the Collahuasi and El Soldado mines more than compensating for a weaker quarter at Los Bronces. Anglo’s copper output for the year remained unchanged at 730,000-790,000 tonnes, but totals from its operations in Chile, the world’s top producing nation, are likely to be affected as the Los Bronces plant closes from the middle of the year.  Production in Peru will be weighted to the second half of the year, as a result of the copper grades temporarily declining to between 0.6%-0.7% in the first half of the