Codelco may terminate the supply of copper concentrate to Fangyuan, Shandong Province, China in 2020

    Codelco, one of the world's leading copper miners, may stop supplying copper concentrate to Fangyuan, Shandong Province, China in 2020, due to financial problems at the private smelter. Codelco, Chile, originally planned to supply 20000-30000 tons of copper concentrate to its long-term customers in 2020, but the advance payment required in the annual supply agreement is equivalent to the metal price of 6000-9000 tons, according to people familiar with the matter.

    Zijin Mining sets production targets for the next three years

    February 2020: Zijin Mining issued the company's work guidance notice for the next three years: it is planned that by 2022, the output range of the company's core business mineral gold, mineral copper and mineral zinc will be 49-54 tons, 67-74 million tons and 38-42 million tons, and the company's product output and performance will usher in "explosive" growth, among which, the annual compound growth rate of mineral copper will reach 22% - 26%.

    Minmetals suspended shipment from Las bambas copper mine

    February 4, 2020: Minmetals once again stopped the transportation of Las bambas copper mine in Peru due to the blockade of roads by members of the local    community and the continuous pollution of its land. Minmetals's measures are aimed at protecting trucks entering and leaving the mine and suspending the transportation of concentrates to port facilities, but production is not expected to be affected. Since the capacity increase in 2015-16, Las bambas has been plagued by road closures and freight suspension. Las bambas copper mine is expected to produce 418-445000 tons of copper in 2020 and 2 million tons of copper in 2021-2025.

    Mitsubishi Materials Co., Ltd. of Japan purchased 30% shares of Chile copper mine

    February 10, 2020: Mitsubishi materials of Japan said it had purchased 30% of the shares of mantoford copper mine and related copper projects for us $236 million in order to obtain more concentrate for its smelter. The copper mine has 2.1 million tons of copper reserves, and the two companies plan to invest $731 million to expand the facility and build a concentrator to refine and process sulfide ores.

Codelco may terminate the supply of copper concentrate to Fangyuan, Shandong Province, China in 2020

    Codelco, one of the world's leading copper miners, may stop supplying copper concentrate to Fangyuan, Shandong Province, China in 2020, due to financial problems at the private smelter. Codelco, Chile, originally planned to supply 20000-30000 tons of copper concentrate to its long-term customers in 2020, but the advance payment required in the annual supply agreement is equivalent to the metal price of 6000-9000 tons, according to people familiar with the matter.

    Zijin Mining sets production targets for the next three years

    February 2020: Zijin Mining issued the company's work guidance notice for the next three years: it is planned that by 2022, the output range of the company's core business mineral gold, mineral copper and mineral zinc will be 49-54 tons, 67-74 million tons and 38-42 million tons, and the company's product output and performance will usher in "explosive" growth, among which, the annual compound growth rate of mineral copper will reach 22% - 26%.

    Minmetals suspended shipment from Las bambas copper mine

    February 4, 2020: Minmetals once again stopped the transportation of Las bambas copper mine in Peru due to the blockade of roads by members of the local community and the continuous pollution of its land. Minmetals's measures are aimed at protecting trucks entering and leaving the mine and suspending the transportation of concentrates to port facilities, but production is not expected to be affected. Since the capacity increase in 2015-16, Las bambas has been plagued by road closures and freight suspension. Las bambas copper mine is expected to produce 418-445000 tons of copper in 2020 and 2 million tons of copper in 2021-2025.

    Mitsubishi Materials Co., Ltd. of Japan purchased 30% shares of Chile copper mine

    February 10, 2020: Mitsubishi materials of Japan said it had purchased 30% of the shares of mantoford copper mine and related copper projects for us $236 million in order to obtain more concentrate for its smelter. The copper mine has 2.1 million tons of copper reserves, and the two companies plan to invest $731 million to expand the facility and build a concentrator to refine and process sulfide ores.

Codelco may terminate the supply of copper concentrate to Fangyuan, Shandong Province, China in 2020

    Codelco, one of the world's leading copper miners, may stop supplying copper concentrate to Fangyuan, Shandong Province, China in 2020, due to financial problems at the private smelter. Codelco, Chile, originally planned to supply 20000-30000 tons of copper concentrate to its long-term customers in 2020, but the advance payment required in the annual supply agreement is equivalent to the metal price of 6000-9000 tons, according to people familiar with the matter.

    Zijin Mining sets production targets for the next three years

    February 2020: Zijin Mining issued the company's work guidance notice for the next three years: it is planned that by 2022, the output range of the company's core business mineral gold, mineral copper and mineral zinc will be 49-54 tons, 67-74 million tons and 38-42 million tons, and the company's product output and performance will usher in "explosive" growth, among which, the annual compound growth rate of mineral copper will reach 22% - 26%.

    Minmetals suspended shipment from Las bambas copper mine

    February 4, 2020: Minmetals once again stopped the transportation of Las bambas copper mine in Peru due to the blockade of roads by members of the local community and the continuous pollution of its land. Minmetals's measures are aimed at protecting trucks entering and leaving the mine and suspending the transportation of concentrates to port facilities, but production is not expected to be affected. Since the capacity increase in 2015-16, Las bambas has been plagued by road closures and freight suspension. Las bambas copper mine is expected to produce 418-445000 tons of copper in 2020 and 2 million tons of copper in 2021-2025.

    Mitsubishi Materials Co., Ltd. of Japan purchased 30% shares of Chile copper mine

    February 10, 2020: Mitsubishi materials of Japan said it had purchased 30% of the shares of mantoford copper mine and related copper projects for us $236 million in order to obtain more concentrate for its smelter. The copper mine has 2.1 million tons of copper reserves, and the two companies plan to invest $731 million to expand the facility and build a concentrator to refine and process sulfide ores.

    Zijin Mining: plans to acquire 50.1% equity of Julong copper with RMB 3.883 billion

    June 7, 2020: Zijin Mining announced that the company plans to invest 3.883 billion yuan in cash to acquire 50.1% of the shares of Julong copper. As a supplementary clause, given that Julong copper has a large number of low-grade copper resources, making full use of low-grade resources will enhance the value of the project under the economically feasible conditions. When the newly increased 150000 tons / day mining and dressing project of Qulong Copper Polymetallic Mine (including rongmu Cuola Copper Polymetallic Mine) in phase II meets the agreed conditions, the purchaser will give certain compensation to the shareholders who sell the equity of Julong copper.

    The upper ore belt of Timok copper gold mine of Zijin Mining Co., Ltd. has been fully started

    June 8, 2020: the upper ore zone of Timok copper gold mine of Zijin mining industry in Serbia has obtained the mine facilities construction and mining engineering permission. Zijin Mining Co., Ltd. holds 100% rights and interests of Timok high-grade super large copper gold mine, with high resource endowment and huge value per ton ore, which is divided into upper ore belt and lower ore belt. The upper ore belt is underground mining. The designed production capacity is 3.3 million tons per year, the infrastructure construction period is 2.5 years, and the total service life is 13 years. It is planned to be completed and put into operation by the end of June 2021, with an annual output of about 79600 tons of copper metal and about 2 tons of gold metal. The lower ore belt is in the stage of feasibility study. Timok copper gold mine located in Serbia and zijinboer copper mine in production together have more than 25 million tons of copper resources and 650 tons of gold metal resources. It is the second largest non-ferrous metal industrial base in Europe that Zijin Mining is committed to building.

    Zambia to crack down on tax evasion of mining companies

    June 10, 2020 news: Zambia said that officials from the Ministry of mining will collect samples from domestic mines from next month to prevent mining enterprises from deliberately lowering the grade of mineral products in order to reduce taxes. The crackdown, which came into effect on July 1, means that the Ministry of Mines no longer receives samples from exporters themselves. This is also a new effort by the Zambian government to increase mining revenue.

    China issued import quotas for 1570 tons of copper scrap and 5840 tons of aluminum scrap

    June 16, 2020: the eighth batch of waste copper and aluminum import quota in 2020, involving 1570 tons of copper scrap and 5840 tons of aluminum scrap. According to statistics, China has issued 541754 tons of scrap copper and 483999 tons of waste aluminum by 2020.

    Tongling Nonferrous Metals Co., Ltd. will build a national copper smelting plant

    June 17, 2020 news: the first batch of electrolytic copper products produced by the second phase of the "Olympic furnace transformation project" of Tongling Nonferrous gold crown copper branch company have been successfully offline. The design capacity of the project is 140000 tons of cathode copper, which will bring 60000 tons of copper to the enterprise in the year of operation. After reaching the standard, the annual output of cathode copper of Jinguan copper branch will reach 640000 tons, which will become the copper smelting body of the largest monomer mine in China.

    China's imports of copper ores and concentrates in May decreased by nearly 8% year on year

    June 28, 2020: according to the data released by the General Administration of customs, China's imports of copper ores and concentrates in May were 1.69 million tons, a year-on-year decrease of 7.97% and a month on month decrease of 16.21%. Chile is still China's largest supplier of copper ore and sand machine concentrate, with exports to China of 604121 tons, up 26.46% year on year.

    China's refined copper imports increased by 22.73% in May

    June 28, 2020: according to the data released by the General Administration of customs, China's refined copper imports in May were 305700 tons, up 22.73% year on year. Among them, Chile is still the largest supplier of refined copper to China. In May, it imported 81700 tons of refined copper from Chile, an increase of 21.59% year-on-year.

    Tongling Nonferrous Metals plans to spin off its holding subsidiary Tongguan copper foil to Shenzhen Stock Exchange gem

    June 29, 2020: Tongling Nonferrous Metals announced that it plans to split its holding subsidiary Tongguan copper foil to Shenzhen Stock Exchange gem for listing. After the completion of the spin off, Tongling Nonferrous Metals will not change its equity structure, and it still has the controlling right of Copper Crown and copper foil. Through this separation, Tongling Nonferrous Metals will be more focused on copper mining, smelting, processing, trading business. Tongling Nonferrous Metals Co., Ltd. will become an independent electronic copper foil business listing platform under Tongling Nonferrous Metals Co., Ltd. by listing on the gem, it will further enhance its own capital strength and investment and financing ability, substantially enhance the industry competitiveness of copper foil business plate, and further promote the profitability and comprehensive competitiveness of Tongling copper foil business.

    From January to may, the output of ten kinds of nonferrous metals in China was 24.13 million tons

    June 29, 2020: according to the data of the National Bureau of statistics, the output of ten kinds of non-ferrous metals in China will be 24.13 million tons from January to may in 2020, with a year-on-year increase of 2.7%. Among them, the refined copper output was 3.967 million tons, with a year-on-year increase of 2.7%; the original aluminum output was 14.808 million tons, with a year-on-year increase of 2.1%; the lead output was 2.206 million tons, with a year-on-year increase of 1%; and the zinc output was 2.527 million tons, with a year-on-year increase of 9.1%. The output of copper was 7.412 million tons, up 4.3% year-on-year; that of aluminum was 20.951 million tons, up 4.9% year-on-year. Alumina output was 28.929 million tons, down 5.8% year on year.

    Ministry of ecology and environment: total ban on solid waste import in 2021

    June 30, 2020: the Ministry of ecology and environment held a regular press conference, and spokesman Liu Youbin answered reporters' questions on the relevant situation of banning the import of foreign garbage. He said that in the first five months of this year, China's solid waste import volume was 3.226 million tons, a year-on-year decrease of 45.3%; since 2021, the import of solid waste has been completely banned, and the Ministry of ecology and environment will no longer accept and approve applications for solid waste import.

    Luntong rose by more than 20% in the second quarter, creating a large single quarter increase in the past decade

    July 1, 2020 news: thanks to improved demand side, supply side disruption and global stimulus. Copper rose 1.0% to $6018.50/t in the overnight LME period. The U.S. stock market rose to $6055 / T at the beginning of the day, the highest level since January 23. The total increase in the second quarter was about 22%, which was the biggest single quarter increase in the past decade. In addition to Luntong, other base metals rose by 2% - 14% in the second quarter.

    Implementation of national standard for recycled copper and aluminum raw materials

    July 1, 2020: the online "media explanation meeting on the implementation of national standards for recycled copper and aluminum raw materials" organized by China Nonferrous Metals Industry Association was successfully held. Shang Fushan, vice president of China Nonferrous Metals Industry Association, Zhao Yongshan, Deputy Secretary General of national non ferrous metal Standardization Technical Committee, GE Lixin, Han Zhiwei, and Wang Jiwei, vice president and Secretary General of the renewable metals branch, attended. In 2019, China's output of recycled copper, aluminum, lead and zinc will reach 14.37 million tons. Wang Jiwei said that since the beginning of this year, the recycling metals branch has taken advantage of its advantages and organized the preparation of the white paper on the pretreatment technology of recycled copper and aluminum raw materials to help domestic and foreign enterprises better understand the standard technical indicators and requirements. Now we have completed the work of formulating the administrative measures for qualification recognition, and we are about to carry out the accreditation.

    S & P: discovery rate of large copper deposits has dropped to near zero

    July 1, 2020 news: according to the new data of S & P global financial intelligence, the copper discovery rate has dropped to almost zero. ***In the past five years, only one new large copper deposit has been discovered, with less than 1 million tons of copper metal, which is a bad period in the past 30 years. From the perspective of exploration investment, it reached its peak in 2012, when the exploration investment was 4.7 billion US dollars, and a copper mine with a copper metal amount of 1 million tons was discovered. S & P found that the exploration budget of Greenland copper mine has been reduced by half since the 1990s.

    Peru's mining activity plummeted for the third consecutive month in May

    Peru's oil industry fell 79.5% in the same period of last year, the third consecutive month of decline from the oil industry in Peru, which was affected by the new oil and gas blockade. The statistics agency inei Peru's copper production decreased by 42.2% in May, while gold production fell by 65.1%, zinc production decreased by 75.7%, and silver production decreased by 65.8%.

    Cochilco: Chile's copper production in May was 492500 tons, up 1% year on year

    Novel coronavirus pneumonia outbreak in Chile was recorded in Chile's Copper Industry Commission (Cochilco), but Chile's copper output in May was 492 thousand and 500 tons, up 1% from the same period last year. Since January, Chile's copper production has increased by 3.9% year-on-year to 2.4 million tons. Among them, Codelco's output in May increased by 3% to 144200 tons, the production of Escondida copper mine under BHP decreased by 5.6% to 93400 tons, and the copper output of collehuasi copper mine increased by 40% to 60100 tons in April.

    Tongling, Jiangxi copper and Antofagasta signed a long-term supply order TC of US $60.8/t in the first half of 2021

    July 2, 2020: it is understood that Antofagasta has reached an agreement with Tongling Nonferrous Metals and Jiangxi Copper on the copper concentrate supply agreement in 2021, which will provide copper concentrate supply for refineries in the first half of next year. ***Finally, the TC / RC agreed by both parties was 60.8 US dollars / ton and 6.08 US cents / pound. Previously, Antofagasta and Japanese refineries failed to reach an agreement on the long-term copper concentrate order negotiation from July 2020 to June 2021, or the supply of copper concentrate to Japan will be reduced.

    BHP Billiton's Cerro Colorado copper mine in Chile will cut production

    July 2, 2020: BHP Billiton (BHP), the global mining giant, said it would reduce mining activities at its small Cerro Colorado copper mine in Chile at a time when the metal market was in turmoil due to the new coronavirus pandemic. The Cerro Colorado project in Chile will produce 71700 tons of copper in 2019, accounting for about 1.2% of Chile's total production. Despite this, BHP said it would continue to look for medium - and long-term alternatives to extend its mining operations beyond 2023.

    Rio Tinto reduces expected reserves of underground copper project in Mongolia

    July 3, 2020: Rio Tinto said that after completing the new feasibility study on copper mine, the schedule and cost estimates of its large-scale project oyu Tolgoi in Mongolia are consistent with previous forecasts. However, after redesigning its mining plan to deal with underground stability issues, the company reduced the estimated reserves of oyu Tolgoi mine and warned that there might be greater changes in reserves. The company said in a statement that the new mining design of oyu Tolgoi's Hugo Dummett North underground mine also confirmed that its prospecting methods were still valid, and that its development "will release valuable parts of oyu Tolgoi * *".

    Cspt has fixed the TC floor price of 2020q3 copper concentrate at USD 53 / T

    July 3, 2020: the cspt group held a meeting to determine the TC floor price of copper concentrate in the third quarter of 2020 of 53 US dollars / ton, down 3.6% compared with the same period of last year, which is close to the actual situation of the spot market, and the treatment fee is limited to 5.3 cents per pound. In the same period of 2019, TC / RCS prices were $55 per ton and 5.5 cents per pound.

    Codelco suspends expansion of its El Teniente copper mine

    July 4, 2020: Chile's national Copper Corporation says it will temporarily stop upgrading its El Teniente copper mine to fight a rapidly spreading new coronavirus pandemic. In a statement, the company said the move would reduce the total number of employees in related businesses to 4500, thereby reducing staff density, reducing turnover and reducing the possibility of infection, which was implemented over the weekend. Despite the setbacks, the company said it would continue to plan and prepare for the expansion of the copper mine, which is expected to peak in 2021 and 2022. It is reported that the copper production of El Teniente copper mine in 2019 is 459744 tons.

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