Copper Mining News - Page 5 of 550

News October 18, 2024

BHP’s Olympic Dam mine halted after storm hits

BHP (NYSE: BHP; LSE: BHP; ASX: BHP) was forced to halt operations at its Olympic Dam copper-gold mine on Friday after severe electrical storms damaged critical transmission infrastructure in northern…

Exploration, News, Precious Metals October 17, 2024

US Snapshot: Mining and exploration for copper, gold, rare earths and more

The United States has a long mining and exploration history and is rich in base and precious metals as well as new energy metals and uranium. Here are seven companies…

News October 16, 2024

Antofagasta copper production jumps 15% in Q3

Chilean miner Antofagasta (LSE: ANTO) reported on Wednesday a 15% increase in copper production for the three months to the end of September, driven by destocking of inventories at Los…

Analysis, ESG, Financing, News, Stock Markets/Investing October 15, 2024

Blue Moon shareholder battle spotlights shades of grey in junior market

A minority group of shareholders in Blue Moon Metals (TSXV: MOON; US-OTC: BMOOF), which holds a first-resource-stage zinc-silver project in California, says its CEO issued defensive stock offerings that destroyed an…

Latest Videos, News, Precious Metals, Video October 15, 2024

Video: Kefi Gold nears $320M loan to start Tulu Kapi build, founder says

Kefi Gold and Copper (AIM: KEFI) founder Harry Anagnostaras-Adams says a US$320-million construction loan for the company’s first mine, Tulu Kapi gold mine in Ethiopia, is expected to close shortly, with…

Latest Videos, News, Precious Metals, Video October 14, 2024

Video: Minera Alamos hopeful for faster Cerro de Oro permitting under new Mexico presidency

Minera Alamos (TSXV: MAI) president Doug Ramshaw says a permit application for its Cerro de Oro gold project in Mexico might be processed faster under the country’s new president, Claudia…

Analysis, Exploration, Financing, News October 14, 2024

Infographic: Adding up government spending on Quebec’s critical minerals

Quebec is unique in Canada for its strong institutional support for mining and exploration activities. It was the first jurisdiction in Canada to release a critical minerals strategy, in 2020,…

$Pentwater Capital Management LP, the second-largest investor in Turquoise Hill Resources (TSX: TQR) has increased its stake in the Canadian company while rejecting again Rio Tinto’s C$43-a-share offer for the 49% of the miner it doesn’t already own. The activist investor disclosed it had bought around 1.24% of common stock at C$41.01 per share in Turquoise Hill, for a total of C$102.5 million on September 15. It means it currently owns 13.77% of Turquoise Hill’s shares Rio Tinto agreed on earlier this month to take over Turquoise Hill after sweetening an initial offer by around 20% to “a best and final” $3.3 billion. Penwater, which joined minority shareholder SailingStone Capital Partners in publicly opposing Rio Tinto’s offer as too low, restated its discontent. “The proposed price implies an equity value of C$8.65 billion, which is a fraction of the free cash flow that Pentwater expects Turquoise Hill to generate over the next decade,” it said in the statement. Pentwater noted it expects Turquoise Hill to generate over C$10.5 billion of free cash flow through 2030 assuming a $3.50 per pound copper price and almost C$14.2 billion of free cash flow assuming copper prices of $4 per pound. It also said it was weighing options to thwart the deal, including but not limited to the possible exercise of dissent rights or other legal action. Rio’s offer equires two thirds of shareholders, including Rio Tinto’s, to vote in favour. More than 50% of minority shareholders must approve it. Rio’s final bid represents a 67% premium from Turquoise Hill’s closing price of C$25.68 a share on March 11, the trading day prior to the initial proposal. Pentwater has said the proposed premium is unacceptable for a mine that it expects to be “the third largest copper and gold mine in the world with a mine life in excess of 90 years.” Some analysts believe that Rio Tinto will need to increase its offer to win over some minority shareholders and so hold a direct majority stake in massive Oyu Tolgoi copper-gold mine in Mongolia. The global miner, which has mined copper from Oyu Tolgoi’s open pit for a decade, will have the task to conclude building the underground section of the mine. Once finished, it will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes per year at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.$