Zinc bears on the attack again after LME stocks rise

The mining industry needs to bring online the equivalent of 17 more Escondidas by 2050, says interim CEO Sherry Duhe.

The company plans to decide later this year on whether to add underground block cave mining to its open pit operations.

According to the PEA, the post-tax net present value (8% discount) will be $1.1 billion, and the post-tax internal rate of return will be 21%.

Extracting copper, nickel, cobalt and other minerals from mine waste could provide a key new source of the minerals needed for the energy transition.

Antamina is Peru's largest copper mine and co-owned by Glencore, BHP Group, Teck Resources and Mitsubishi.

Some operations at the El Teniente mine are still paused after heavy rains.

The mining corridor is used by MMG’s Las Bambas, Glencore’s Antapaccay and Hudbay Minerals’ Constancia to transport semi-processed copper to a seaport.

Either inventory rebuilds over the seasonal summer soft spot for northern hemisphere demand, or the market is going to have to rethink just how much copper is really out there, writes Andy Homes.

Konkola Copper Mines has shut down its Nchanga smelter for 21 days for repair work.