International copper prices hit a new high in the past two years
As of September 21, Beijing time, the London Metal Exchange's copper futures (LME copper) hit a maximum of 6877.5 US dollars per ton in a day, setting a new high in the past two years. Domestically, as of the close of trading on the afternoon of September 21, Shanghai copper futures were at 52160 yuan/ton, a cumulative increase of over 47% from the lowest point this year in late March.
Gold price fell to its lowest point in nearly two months
With the strengthening of the U.S. dollar, the price of gold fell to its lowest point in nearly two months on Monday, and other stimulus measures introduced by the market to the Fed also brought more uncertainty to gold. Market analysts of FXTM pointed out: The US general election in early November will undoubtedly have an important impact on the trend of gold prices.
Wheaton Precious Metals plans to list in London
Wheaton Precious Metals of Canada is one of the largest precious metals trading companies in the world. Recently, the company announced plans to list on the London Stock Exchange. The company is headquartered in Vancouver and has a market value of approximately 23 billion Canadian dollars. It has been listed in Toronto and New York. Its stock price has risen by approximately 75% this year.
First Quantum plans to expand production capacity at Kansashi Copper Mine in Zambia
On Monday, Canadian mining company First Quantum Minerals Ltd (First Quantum Minerals Ltd) said it plans to expand operations at the Kansah Copper Mine in Zambia. The company said in a technical report that it plans to expand the annual production capacity of the sulfide ore beneficiation plant at Kansashi Copper Mine by 25 million tons, which will increase the annual output to 52 million tons per year. First Quantum expects to spend nearly US$650 million on this expansion in about two years starting in the second half of 2023. The company added that the expansion plan will be further refined before seeking project approval.
Chile's Andakoro copper mine will use 100% renewable energy power
It has been reported recently that Teck Resources has signed a long-term agreement that will provide 100% renewable energy for its Carmen de Andacollo copper mine operations in central Chile, thereby eliminating 200,000 tons of greenhouse gas (GHG) emissions The amount is equivalent to reducing 40,000 cars on the road every year.
International Aluminum Association: global aluminum production fell to 5.485 million tons in August
According to data released by the International Aluminum Association (IAI) on Monday, global primary aluminum production fell to 5.485 million tons in August, which was revised to 5.489 million tons in July. IAI added that China's primary aluminum production in August is expected to remain at 3.17 million tons, and the revised output in July will be 3.17 million tons.
Romanian authorities are reassessing the value of mineral resources
According to the South East European Mining website, the Romanian National Mineral Resources Agency is conducting quantitative, qualitative and value reassessment of more than 700 solid deposits, followed by an assessment of mineral water and petroleum reserves. Romania is a country rich in mineral resources, but the country’s Mineral Resources Bureau does not know the value of these deposits. The last quantitative revaluation was 15 years ago.
Alcoa Association Expresses Support for Eliminating Canada's 232 Tariff
American Aluminum Association Chairman Tom Dobbins mentioned that the Office of the United States Trade Representative announced the abolition of tariffs on unforged or P1020 aluminum imports from Canada. He said that after the implementation of the decision, the trade of non-alloy and unforged aluminum may be It will return to normal in the last four months of 2020. The Alcoa Association stated that it is the correct decision of Alcoa to cancel tariffs on Canadian aluminum.
