Gunnison Copper Announces Leadership Transition to Advance Arizona Copper Project

[SMM Analysis: High Copper Prices Led to Slow Shipments and Sluggish Raw Material Consumption at Secondary Copper Rod Enterprises] According to SMM data, the operating rate of secondary copper rod was 6.84% this week, up 0.08 percentage points WoW and down 15.03 percentage points YoY. Meanwhile, the average price difference between copper cathode rod and secondary copper rod was 1,914 yuan/mt, widening by 549 yuan/mt WoW. In addition, the average discount of secondary copper rod in Jiangxi against copper futures was 1,518 yuan/mt, widening by 773 yuan/mt WoW. Based on SMM's secondary copper rod gross profit model, the average gross profit during the week was 857 yuan/mt, an increase of 477 yuan/mt......

Appian Capital Advisory acquired a 95% controlling interest in the Omitiomire copper project in Namibia. The project is expected to require approximately $400 million in development funding, with a mine life of 15 years and annual production of approximately 300,000 mt of copper. The company plans to switch the process from leaching to flotation and has initiated negotiations on future offtake arrangements. Appian stated that against the backdrop of constrained new supply, the project represents a rare near-term opportunity to bring new production to market. Technical due diligence has identified multiple value creation pathways, and the project will be advanced in a responsible and efficient manner.

Due to the disruption of the Labour Day holiday, enamelled wire industry operating rates pulled back significantly WoW this week (5.8-5.14) ....