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Rio Tinto cuts 2020 copper targets on Kennecott delay
Rio Tinto has cut its refined copper production target for fiscal 2020 due to delays in restarting a smelter at its Kennecott mine in Utah. The world’s second-largest miner expects the facility to be running again in two months. That would mean about 30,000 tonnes of...
Ivanhoe and China’s CNMC announce Africa partnership
Ivanhoe Mines on Tuesday announced a deal with China Nonferrous Metal Mining (CNMC) under which the companies would jointly look for African mining projects to explore, develop or acquire. Ivanhoe’s co-chairmen Robert Friedland and Yufeng Sun said the strategic...
Copper price jumps to 2-year high
Copper prices rallied on Tuesday on the back of falling inventories, unprecedented Chinese economic stimulus and ongoing worries about pandemic-hit supply from top producer South America. Copper inventories in warehouses operated by the London Metal Exchange fell to...
Lynas raises funds for plant in Australia
Rare earths miner Lynas Corp posted on Monday a smaller-than-expected annual loss and outlined plans to raise A$425 million (around $307m) to fund construction of a new ore processing plant in Australia. The world’s biggest rare earths miner outside China said loss...