Zijin in talks to buy $6.4 billion China lithium miner
Zijin, a global powerhouse in copper and gold, is advancing its push into the lithium sector with the potential acquisition of Zangge Mining.
Copper production from Chile’s state-run miner Codelco, the world’s largest producer of the metal, jumped nearly 17% in November, helping to boost overall output of the metal in the mineral-rich nation by some 10%, data from copper commission Cochilco showed on Friday.
Production at BHP’s Escondida mine, the world’s largest copper mine, grew 27.6% to 108,200 tons, while Collahuasi, another major copper mine jointly run by Glencore and Anglo American, fell 23.5% to 36,700 tons.
Cochilco data showed that Codelco production totaled 133,600 metric tons in November, up 16.9% from the same month a year earlier.
That compares to a Reuters story from December saying Codelco’s own production reached 125,500 tons in November, falling short of the company’s target. The difference in production figures is attributable to Codelco’s stake in Freeport’s El Abra and Anglo American Sur.
Codelco has struggled to recover its own production after hitting a 25-year low in 2023.
Taking Friday’s results into account, Chile’s total production in November was up 9.8% to 486,200 tons, Cochilco said.
(By Fabian Cambero and Brendan O’Boyle; Editing by Anthony Esposito)
Comments