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

November 29, 2024

Ron Finklestien

mining

Paladin’s Uranium Production Reduction Leads to Decline in Share Prices

Paladin Energy Faces Challenges Amid Production Revision Paladin Energy announced a dip in performance for October, reporting only 186,667 pounds of uranium produced. This lackluster showing, along with ongoing difficulties in scaling operations, led the company to adjust its production guidance downward. Following this news, Paladin’s shares took a hit, falling 28.9% in Australia. As a result, the company’s market capitalization now stands at A$2.89 billion ($1.89 billion). In anticipation of future improvements, Paladin plans a shutdown at their Langer Heinrich Mine (LHM) in the latter half of November, expected to last about two weeks. This temporary halt will facilitate

January 26, 2024

Ron Finklestien

mining

Alphamin’s Expanding Tin Output and New Mine Production in 2023

Consistent Growth in Tin Output Alphamin has reported a surge in tin production in its latest results release, with the initial development of Mpama South completed on schedule. This accomplishment in underground development has ensured a robust base of mineral resources ahead of the processing plant’s commissioning, paving the way for a swift increase in tin production. Further Progress on Processing Plant The company has announced the near-completion of mechanical erection and installation at the processing plant. The remaining work mainly involves the installation of electrical cabling, instrumentation, and final plant commissioning. However, logistical setbacks due to poor inbound road

January 24, 2024

Ron Finklestien

mining

Hochschild Mining Sees 15% Output Increase in 2024, Meets Annual Guidance

Meeting 2023 Targets Hochschild Mining has confirmed that its 2023 all-in sustaining costs are expected to meet the revised guidance of $1,490-1,580/oz. gold equivalent. This is a critical development in the company’s ongoing operations. Decline from 2022 The 2023 output represents a 16% decline from 2022, when the company achieved a production level of 358,826 gold-equivalent ounces. Notably, the robust performances from its Peruvian mines were central to this success. The AISC range was also lower in 2022 at $1,330-1,370/oz. Financial Position By year-end, Hochschild’s cash position was approximately $89 million, compared with $144 million by the end of 2022.

January 4, 2024

Ron Finklestien

mining

Teck’s Strategic Shift: Exiting Coal, Navigating Lower Copper Output in Chile Teck’s Strategic Shift: Exiting Coal, Navigating Lower Copper Output in Chile

Posco traded its interest in two of Teck’s coal operations for a 3% stake in the overall steelmaking coal business. The transactions are part of an umbrella deal inked with Glencore (LON: GLEN) in November 2023, involving the Swiss miner and commodities trader paying $6.9 billion for 77% of Elk Valley Resources. The agreement with Glencore, which capped negotiations and takeover attempts initiated by the Baar-based firm, awaits regulatory review and is anticipated to finalize in the third quarter of 2024. Challenges in Copper Production Canada’s largest diversified miner highlighted a lower than anticipated 2023 production at Quebrada Blanca (QB),