China’s Qianhai Mercantile Exchange launches copper rod trading

China’s Qianhai Mercantile Exchange launches copper rod trading

The Qianhai Mercantile Exchange (QME), a mainland China spot commodities platform owned by Hong Kong Exchanges and Clearing Ltd, said it started trading in copper rods on Friday, adding to existing trade of alumina and aluminium products. A total...

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China to Raise Import Tariffs on U.S. Scrap Copper, Aluminum From December 15

China to Raise Import Tariffs on U.S. Scrap Copper, Aluminum From December 15

China will impose an extra 5% tariff on imports of copper scrap and aluminum scrap from the United States from Dec. 15, according to a list of retaliatory tariffs published by the Ministry of Finance late on Friday. Beijing had already levied a...

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Forum looking to fund exploration program in Saskatchewan

Forum looking to fund exploration program in Saskatchewan

Forum Energy Metals (TSXV: FMC) is seeking to raise $75,000 through a non-brokered private placement of up 1,250,000 flow-through common shares to explore the Love Lake mafic-ultramafic complex. The project is located along Highway 905 to the...

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Newcrest takes over at Red Chris JV

Newcrest takes over at Red Chris JV

Imperial Metals’ sale of a 70% interest in the Red Chris copper-gold mine in B.C. has officially closed, with Australia’s Newcrest Mining now the operator of the asset. Newcrest paid $804 million for its majority interest. The deal was first...

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Newcrest Mining posts 22% jump in annual profit

Newcrest Mining posts 22% jump in annual profit

Newcrest Mining (ASX: NCM) on Friday posted a 22.2% increase in annual profit, buoyed by robust gold and copper sales volumes from its flagship Cadia mine in New South Wales. Australia’s biggest listed gold miner posted an underlying profit of...

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Jaxon Mining completes phase one exploration at Red Springs

Jaxon Mining completes phase one exploration at Red Springs

Jaxon Mining Inc. (TSXV: JAX) announced Tuesday the discovery of three large outcrops of disseminated sulfides in porphyritic intrusions, as part of the company’s first phase of fieldwork at the Red Springs copper-gold porphyry complex near...

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China’s major copper smelters boost July output

China’s major copper smelters boost July output

Refined copper cathode production by major Chinese smelters increased by 5.3% in July from a month earlier to 721,000 tonnes, according to a survey of 22 producers by Antaike. The total was also up 9.9% year-on-year and came amid minor smelter...

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EV sector will need 250% more copper by 2030 just for charging stations

EV sector will need 250% more copper by 2030 just for charging stations

While it is a known fact that electric vehicles (EVs) use about four times more copper than gasoline-powered vehicles, short-term demand for the metal won’t come from the car industry, but from the charging stations and related infrastructure...

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Barrick posts profit jump, flags significant work ahead on Acacia

Barrick posts profit jump, flags significant work ahead on Acacia

Barrick Gold Corp reported quarterly adjusted profit that nearly doubled on higher production on Monday, and said it has a “great deal of work” ahead resolving problems around its African unit, whose buyout the company expects to complete next...

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Rio Tinto’s Resolution copper project in Arizona moves a step closer

Rio Tinto’s Resolution copper project in Arizona moves a step closer

Rio Tinto on Friday said it had moved a step closer to the development of a new copper project in Arizona, one of the few known major deposits of the metal, with the potential to meet around a quarter of U.S. demand. Miners have been scouring the...

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Glencore to shutter giant cobalt and copper mine in Congo

Glencore to shutter giant cobalt and copper mine in Congo

Glencore Plc is planning to halt production at one of the world’s biggest cobalt mines after prices for the battery metal collapsed and costs at the project increased, according to a person familiar with the situation. The announcement that...

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