Ivanhoe Electric shocks Saudi geology to spot targets

The net proceeds will be predominantly used for its Lunahuasi exploration project in San Juan province, Argentina, and Los Helados project in Region III, Chile.

Shares of Newcrest Mining Ltd fell as much as 5.4% on Friday, marking its worst intraday fall in nearly 10 months.

The group left its overall 2023 guidance for copper unchanged at 1.04 million metric tons, even as production fell by 10%.

Construction of the Cascabel mine is seen starting in 2025, with operations kicking off in 2030.

The proposal follows the decision of state-owned miner Codelco to close its Ventanas smelter for environmental reasons.

As of 2020, it was producing around 40% of Russian copper.

Copper production will plunge to 682,431 tons, the Ministry of Finance & National Planning said in a report.

Anglo expects to reach between 840,000 and 930,000 metric tons of copper production this year.

Chile’s millennial president, Gabriel Boric, promised to mine differently. He would turn the world’s largest copper producer and second largest lithium miner […]