The main market situation of metals in Shanghai Stock Exchange on July 27, 2020.

Published: Jul 27, 2020 15:10

SMM Network News:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
AIC Mines Starts Dry Commissioning of Eloise Plant Expansion, Copper Output Targeted at 25,000–27,000 t in FY2029
8 mins ago
AIC Mines Starts Dry Commissioning of Eloise Plant Expansion, Copper Output Targeted at 25,000–27,000 t in FY2029
Read More
AIC Mines Starts Dry Commissioning of Eloise Plant Expansion, Copper Output Targeted at 25,000–27,000 t in FY2029
AIC Mines Starts Dry Commissioning of Eloise Plant Expansion, Copper Output Targeted at 25,000–27,000 t in FY2029
AIC Mines has started dry commissioning of the Stage 1 expansion of its Eloise copper-gold processing plant in North-West Queensland, Australia, marking a key milestone as the company ramps up ore supply from the nearby Jericho copper mine. AIC Mines Managing Director Aaron Colleran said during the Meeting of the Mines conference on September 10 that power has been switched on at the expanded facility and dry commissioning is underway. The project remains on budget and on schedule for commissioning during the December quarter. The expansion will increase processing capacity from approximately 725,000 tonnes per year to 1.1 million tonnes per year. Underground development at Jericho, located approximately 4 km south of Eloise, is progressing alongside the plant expansion. AIC Mines expects combined mining rates from Eloise and Jericho to reach approximately 1.1 million tonnes per year by December. Recent processing trials using Jericho ore have supported the planned ramp-up. A blended Eloise-Jericho ore trial produced on-specification copper concentrate with average copper recovery of 92.3%, compared with typical Eloise recoveries of 93–95%. A separate Jericho-only trial achieved average copper recovery of 90.3%. AIC Mines' three-year production outlook targets 17,500–18,500 tonnes of copper in FY2027, rising to 20,000–22,000 tonnes in FY2028 and 25,000–27,000 tonnes in FY2029. Eloise produced 13,064 tonnes of copper in FY2026. The company has also committed to a second-stage expansion to increase processing capacity to 1.5 million tonnes per year by FY2029. The start of dry commissioning represents tangible progress in AIC Mines' transition from the existing Eloise operation toward higher combined Eloise-Jericho copper production. The Stage 1 expansion is expected to provide the processing capacity required for increasing Jericho ore supply, supporting a substantial rise in copper output over the next three financial years.
8 mins ago
Zambia Urges Vedanta to Accelerate Power Investment to Support KCM Copper Expansion
1 hour ago
Zambia Urges Vedanta to Accelerate Power Investment to Support KCM Copper Expansion
Read More
Zambia Urges Vedanta to Accelerate Power Investment to Support KCM Copper Expansion
Zambia Urges Vedanta to Accelerate Power Investment to Support KCM Copper Expansion
Zambian President Hakainde Hichilema has urged Vedanta Resources to accelerate plans to invest in power generation to support the expansion of Konkola Copper Mines (KCM), following discussions with Vedanta Head of Strategy and Growth Pushpender Singla.​ During the meeting, Vedanta provided an update on KCM's progress and expansion plans, including its longer-term ambition to increase copper production to 500,000 tonnes annually. President Hichilema said additional investment in power generation would support the company's mining operations while contributing to Zambia's broader energy objectives.​ The 500,000-tonne annual production ambition is not a new target. Vedanta-backed CopperTech Metals previously outlined plans to increase KCM production over time to 500,000 tonnes per year as part of its long-term expansion strategy.​ Power availability remains an important consideration for the planned expansion of copper production at KCM. The latest discussions indicate that Zambia is encouraging Vedanta to develop additional generation capacity alongside its mining investments. However, no capacity, investment amount or implementation timetable for the proposed power generation projects was disclosed.
1 hour ago
Rio Tinto Secures Traditional Owner Consent for Winu Copper-Gold Project, Advances Towards First Copper by 2030
1 hour ago
Rio Tinto Secures Traditional Owner Consent for Winu Copper-Gold Project, Advances Towards First Copper by 2030
Read More
Rio Tinto Secures Traditional Owner Consent for Winu Copper-Gold Project, Advances Towards First Copper by 2030
Rio Tinto Secures Traditional Owner Consent for Winu Copper-Gold Project, Advances Towards First Copper by 2030
Rio Tinto and the Nyangumarta Warrarn Aboriginal Corporation announced on September 10 that they have signed a Project Agreement covering the proposed Winu copper-gold project in Western Australia, marking a key development milestone as Rio Tinto works towards first copper by 2030.​ Under the agreement, the Nyangumarta People have formally given their consent for the proposed Winu mine and associated infrastructure on Nyangumarta Country. The agreement builds on a Project Planning Agreement signed in 2023 and establishes how the parties will work together throughout the planning and potential development of the project, including the management of environmental and cultural heritage impacts.​ The agreement removes an important project-development requirement, as Rio Tinto had previously stated that mining at Winu would not proceed without the consent of Traditional Owners. However, the project remains subject to regulatory and other required approvals as well as a final investment decision.​ Located in Western Australia's Great Sandy Desert, Winu is Rio Tinto's most advanced near-term greenfield copper project and forms part of the company's strategy to expand its copper portfolio. Rio Tinto holds a 70% interest and will develop and operate the project, while Sumitomo Metal Mining holds the remaining 30%.​ The agreement represents an important step in de-risking Winu's development pathway by securing consent from the Traditional Owners of the land hosting the proposed mine and associated infrastructure. Attention will now shift to the remaining regulatory approvals and Rio Tinto's final investment decision as the company advances the project towards potential first copper by 2030.
1 hour ago