News Roundup for Overseas Copper Market

SHANGHAI, Nov 8 (SMM) – This is a news roundup for the overseas copper market last week.

1. The Phase I beneficiation plant of Zijin Mining's Kamoa-Kakula copper mine with an annual ore processing capacity of 3.8 million mt in DRC has reached or exceeded all design standards and achieved stable production. The optimisation work is currently underway, which will further increase the processing capacity of the plant. The project team is confident that the production guidance target of 90,000-95,000 mt of higher copper production will be achieved this year.

2. According to Cochilco data, Chile's copper output in September 2021 was 447,400 mt, a decrease of 7% from the 479,800 mt in September 2020. Codelco produced 133,800 mt of copper in September, a year-on-year decrease of 16%. The world's largest copper mine BHP's Escondida produced 82,600 mt of copper in the same month, a drop of 12% from 94,100 mt in September 2020. Collahuasi, the second largest copper mine, produced 46,100 mt of copper in the same month, a decrease of 14% from the 53,400 mt in September 2020.

3. The Antamina copper-zinc mine in Peru stated on October 31 that it had suspended operations. As the demonstrators set up roadblocks, they said the mine had not fulfilled its promise to support the local community. The Antamina copper-zinc mine is partly controlled by Glencore and BHP Billiton. The company said in a statement that it is unsafe for employees to continue working during the protests.