Gunnison Copper Updates PEA, Boosts Project Value by 50%, Extends Mine Life to 21 Years

In January, Southeast Copper successfully completed its domestic ore procurement tasks while simultaneously sourcing cold materials such as blister copper. At the same time, the operation area closely monitored the procurement timeline for pyrite, fully advancing all efforts to facilitate its delivery to the plant. Before the holiday, pyrite was delivered in batches, laying a solid raw material foundation for the company's continuous and stable production operations.

SMM Morning Meeting Summary: Last Friday evening, LME copper opened at $13,474.5/mt, initially fluctuating rangebound and reaching $13,527/mt. Later, the center of copper prices gradually shifted downward, touching $13,290/mt near the end of the session, and finally closed at $13,296/mt, with a gain of 0.28%. Trading volume reached 25,300 lots, and open interest stood at 315,000 lots, down by 497 lots from the previous trading day, mainly due to bears reducing their positions. The most-traded SHFE copper 2604 contract opened at 104,230 yuan/mt, quickly rising to 104,520 yuan/mt, then fluctuated downward, bottoming out at 103,100 yuan/mt, and finally closed at 103,280 yuan/mt, with a gain of 0.45%. Trading volume reached 77,700 lots, and open interest stood at 202,000 lots, down by 2,150 lots from the previous trading day, also characterized by bears reducing their positions.

Copper output in Chile, the world’s largest producer of the metal, fell 3% year-on-year in January to 413,712 metric tons, statistics agency INE said on Friday.Manufacturing production in the Andean nation was down 3.8% in the month on a yearly basis, the agency added.