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🇵🇪 #Perú | Peru copper output this year forecast below expectations, deputy minister says - Reuters | September 11, 2024 | 7:49 am Intelligence Latin America Copper Las Bambas copper mine. (Image by MMG Las Bambas, Facebook.) Copper production in Peru, the world’s No. 3 producer of the key industrial metal, will likely fall short of a government goal of 3 million metric tons this year, a top mining official said on Wednesday. Output is currently on track to reach about 2.8 million tons this year, said deputy mining minister Henry Luna. However, he noted that some miners may increase their production estimates under a new government norm allowing copper processing plants to increase their capacity by 10%. “At the end of the year (production) goes up, but what’s projected for the year is 2.8 million tons in Peru,” Luna told reporters at a mining industry conference. According to official data, copper production this year through July fell 2.3% compared to the same period a year before. Output in the period was 1.51 million metric tons, due to declines of 5.7% at Cerro Verde, 11.3% at Las Bambas and 17.1% at Toromocho, according to a government report. In July alone, Peru produced 222,389 tons of copper, a 3.2% drop from the year before. During the month, production dropped nearly 25% at Quellaveco, owned by Anglo American. After years as the world’s second-largest copper miner after Chile, Peru last year lost its position to the Democratic Republic of the Congo. The government’s production goal for this year was initially 3 million tons, which would mark a 9% increase over last year. The SNMPE mining, oil and energy association last month said it expected copper miners to fall short of that target.

Weekly Mining News: 30-06-2024 1.    Adani and Hindalco Express Interest in Jharkhand Mines: Both companies are among seven bidders participating in a pre-bid conference to select a mine developer and operator (MDO) for Hindustan Copper’s mines in Jharkhand. 2.    Vedanta Resources to Regain Control of Konkola Mine: Vedanta Resources Ltd. is set to regain control of the Konkola copper mine in Zambia and plans to quickly ramp up production in anticipation of increased future demand. 3.    Iron Ore Prices Decline: In June, iron ore prices dropped by $7-10 per ton due to reduced steel demand and increased ore stocks at Chinese ports. 4.    India Enters Offshore Mining: To meet its ambitious clean energy targets and reduce reliance on mineral imports, India is exploring offshore mining for critical minerals. 5.    Increase in Gold Mining Tax Revenue: The Ministry of Finance reports a 39% increase in tax revenues from gold mining companies to the state budget for January-May 2024. 6.    Vale to Resume Operations at Brazilian Mines: Vale, the Brazilian mining giant, plans to restart operations at the Onca Puma and Sossego mines following the reinstatement of their licenses. 7.    Lundin Mining Considers Selling Zinc Mines: Lundin Mining is exploring the sale of its Zinkgruvan and Neves-Corvo zinc mines in Sweden and Portugal to raise funds for its copper projects in Argentina and Chile. 8.    Vale Tests New Electric Trucks: Vale is testing new energy-efficient, electric trucks from Caterpillar, which are noted for their impressive size and weight. 9.    Protests Against Lithium Mining in Serbia: Environmental activists and local citizens are intensifying protests against Rio Tinto’s lithium mining project near Loznica, Serbia. 10. Uttar Pradesh to Implement M-Sand Policy: Chief Minister Yogi Adityanath has instructed the mining department to swiftly implement the M-sand policy to promote manufactured sand as a sustainable alternative to river sand and moram. Ref: the cooldown, timesof india, themorningcontext, mining.com, business standard, gmk.centre etc.   https://lnkd.in/g9uFVChV

🚀 Exciting Mining Industry Insights: March 2024 🚀 📊 Key Findings from P2041 - Mining: Production and Sales Report 📊 🛠️ Production Highlights: In March 2024, mining production experienced a 5.8% year-on-year decrease. Notable negative contributors were coal (-9.1%), manganese ore (-12.2%), iron ore (-6.8%), and PGMs (-3.6%). The seasonally adjusted figures show a 5.0% decrease compared to February 2024 and a 1.7% decrease in the first quarter of 2024 compared to the fourth quarter of 2023. 📉 Sales Trends: Mineral sales at current prices witnessed a significant 14.9% year-on-year decrease in March 2024. Key contributors to this decline were PGMs (-29.4%), iron ore (-25.9%), 'other' non-metallic minerals (-42.6%), and manganese ore (-21.5%). However, gold emerged as a positive contributor with a 29.6% increase. The seasonally adjusted mineral sales at current prices also decreased by 13.5% in March 2024 compared to February 2024 and by 9.6% in the first quarter of 2024 compared to the fourth quarter of 2023. 📈 Iron Ore Shines Bright: Amidst the challenges, iron ore stands out as the largest positive contributor, marking a 16.7% increase in production and a 1.9% contribution to overall production. 🔍 Insights for the Industry: These findings provide valuable insights into the current state of the mining industry. Understanding these trends is crucial for strategizing and adapting to market dynamics. 💡 Looking Ahead: As we navigate through these fluctuations, it's essential to stay agile and proactive in our approach. By leveraging data-driven insights, we can identify opportunities for growth and mitigate risks effectively. Let's continue to collaborate and innovate to drive sustainable success in the mining sector! #MiningIndustry #Production #Sales #MarketTrends #IndustryInsights #DataAnalysis #Strategy #Agility

Discover Exceptional Mining Opportunities: Mines for Sale in Turkey Turkey is a country rich in natural resources, with a diverse array of minerals and metals waiting to be explored and developed. Our listings of mines for sale present a unique opportunity for investors and companies looking to tap into Turkey's thriving mining sector. With its strategic location, robust infrastructure, and supportive government policies, Turkey offers an ideal environment for mining investments. Why Invest in Turkish Mines? Diverse Mineral Resources: Turkey is home to a variety of valuable minerals, including gold, silver, copper, iron ore, boron, and more. This diversity ensures that investors can find opportunities that align with their specific interests and market demands. Strategic Location: Situated at the crossroads of Europe, Asia, and the Middle East, Turkey serves as a gateway to multiple markets. This advantageous location facilitates the export of mined materials to global markets, enhancing the potential for profitable ventures. Supportive Regulatory Framework: The Turkish government has implemented policies to encourage foreign investment in the mining sector, providing a transparent regulatory environment. Investors can benefit from various incentives, including tax exemptions and streamlined permitting processes. Established Infrastructure: Turkey boasts a well-developed infrastructure, including transportation networks, ports, and logistics services, ensuring efficient access to mining sites and facilitating the movement of materials to market. Available Mines: Gold Mines: Explore opportunities in established gold mining sites with proven reserves. Turkey is one of the top gold producers in the world, and our listings include properties with significant potential for high returns. Metallic Mines: Invest in copper, silver, and iron ore mines with substantial reserves and production capabilities. Our properties offer both exploration potential and operational assets, providing investors with diverse options. Industrial Minerals: Turkey is a leading producer of boron, marble, and other industrial minerals. Our listings include mines that can serve various industries, from construction to ceramics, catering to global demand. Coal and Energy Resources: With Turkey’s increasing energy needs, coal mines represent an important investment opportunity. Our listings feature properties with significant coal reserves that can contribute to the country’s energy supply. #minesforsale #minesturkey #minesturkiye #InvestinTurkishMines https://lnkd.in/dAf7P3We

Broker Peel Hunt detected some reasons to be cheerful in the latest production report from South Africa-focused mining group Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF). In its update, the company said its platinum group metals (PGM) output in the third quarter was 36,900 ounces, up from 35,300 ounces in the previous quarter. The average price for PGMs stayed steady at $1,391 per ounce, compared to $1,343 per ounce in the second quarter. Chrome production also rose to 410,200 tonnes from 402,700 in the previous quarter. The company’s targets for the full year remain between 145-155,000 ounces of PGMs and 1.7 -1.8 million tonnes of chrome concentrates. Peel in a note to clients said:  "The increased rates of mining indicate that the waste contractor has opened up much more of the pit, allowing Tharisa to raise ore mining rates. "As this ore feed normalises, PGM grades should also improve, as it can process a better... More at #Proactive #ProactiveInvestors http://ow.ly/rVYm105A6BC

Weekly Mining News: 05-05-2024 1.      India's mining sector grew by 7.5 percent in FY24, with production of iron ore and limestone recording high growth of 7.4% during the year. Note: India Is The Second Largest Aluminium Producer, Third Largest Lime Producer, And Fourth Largest Iron Ore Producer In The World. 2.      G7 countries have further demonstrated their commitment to a low-carbon future: Leaders make a historic decision to shut down all coal power plants by 2035. 3.      Cop crushed to death by mining mafia: An Assistant Sub-Inspector (ASI) has been crushed to death by a tractor-trolley used for transporting illegally mined sand in Madhya Pradesh’s Shahdol district 4.      Goa’s mining industry: Union Home Minister Amit Shah on Friday assured that the mining industry in Goa will start full-fledged in next two years. 5.      Chinese miners see opportunities as BHP’s mega bid unfolds: China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39 billion approach for rival Anglo American Plc, potentially the largest mining deal in over a decade. 6.      India is unlikely to impose tariffs on exports of low-grade iron ore for now despite rising overseas sales to China. China typically accounts for more than 90% of overall shipments of iron ore from India which is the world's fourth-largest producer of the steel-making ingredient. 7.      The mineral production Index data of India shows, Mineral Production in the Country Grows by 8 percent in February, Compared to Last Year. 8.      Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid. 9.      Swedish mining group Boliden will restart production at its Tara zinc mine in Ireland after it was paused in 2023. 10.  Even in an optimistic low emission scenario for 2050, more than half the world’s copper mines will be in areas exposed to drought risk that’s deemed significant, high or extreme, according to a PricewaterhouseCoopers LLP report released this week Ref: business-standarddotcom; www.tribuneindiadotcom; pibdotgovdotin; miningweeklydotcom https://lnkd.in/gWvWpVxM

The global Mining Cables market was valued at US$ 8519.2 million in 2023 and is anticipated to reach US$ 11660 million by 2030 witnessing a CAGR of 4.7% during the forecast period 20242030. From the application point of view underground mining is the market leader which occupies more than 80% of the total market share followed by openpit mining. The top three players hold a share over 20%. AsiaPacific is the largest market has a share about 44%. In terms of product type Rubber Cable is the largest segment occupied for a share of about 75% and in terms of application Surface Mining has a share about 54 percent. #GlobalMiningCablesMarket #MiningIndustry #RubberCable #PlasticCable #SurfaceMining #UndergroundMining #MiningTechnology #MiningSafety #MarketOutlook #AsiaPacificMarket

Mining Industry Update: Canadian Mining Facts and Figures The Mining Association of Canada (MAC) has released "The Mining Story – Canadian Mining Industry Facts and Figures," offering a comprehensive overview of the sector's current trends and achievements. Key Highlights: Economic Contribution: In 2022, mining, quarrying, and oil and gas extraction contributed 7.8% to Canada’s GDP, surpassing sectors like finance, construction, and retail trade. - Extraction: $45 billion (+21% from 2021) - Mining Services: $10.1 billion (+50% from 2021) - Primary Metal/Mineral Manufacturing: $23 billion (+13% from 2021) - Downstream Metal/Mineral Manufacturing: $30.4 billion (+23% from 2021) Global Impact: Canada produces over 60 minerals and metals, with the total value of production reaching $74.6 billion in 2022. Strategic Recommendations: - Enhance mineral processing capabilities. - Increase exploration efforts, especially in northern Canada. - Invest in critical infrastructure like roads, rail, and power lines. - Focus on workforce development, particularly Indigenous skills training programs. As Canada and its allies work towards securing critical minerals for future economic and environmental goals, efficient implementation of supportive policies will be crucial. For detailed insights and policy recommendations, read the full report: https://lnkd.in/eKxd_g7w #MiningIndustry #EconomicGrowth #CanadaMining #SustainableDevelopment #MineralExploration #InfrastructureInvestment #WorkforceDevelopment #IndigenousEmployment #CriticalMinerals #GlobalMarkets #mining #canada #canadaindustries #businesscanada

Mechel a prominent Russian mining and metals company, has released its operating results for Q4 and 12M 2023. Oleg Korzhov, Chief Executive Officer, stated that the average range of global coal prices in 2023 was significantly lower than the 2022 quotes, but still acceptable to the company. The global commodity market has been rebalanced, with China and India emerging as key players. Demand for coal products in other Asia-Pacific countries remains high due to the growth of the steel ...