【SMM Copper Flash News】Japan's Mitsui Kinzoku is expanding electrolytic copper foil production capacity due to strong demand for AI-related products

CopperTech Metals has launched plans for a US initial public offering (IPO), seeking to raise approximately US$423.5 million through the sale of 23.5 million shares priced between US$16 and US$18 each. The offering could value the company at up to US$3.57 billion. CopperTech, established by Vedanta Resources, owns and operates Konkola Copper Mines (KCM) in Zambia. The company plans to invest approximately US$2.7 billion over the next five fiscal years to increase copper production at KCM, targeting average annual output of around 270,000 tonnes from fiscal year 2030 onward.

Canadian copper explorer Gladiator Metals has raised more than C$35 million through a private placement led by BlackRock. Following the financing, the company expects its cash position to increase to approximately C$50 million, providing full funding for its 2026–2027 exploration program at its flagship copper project in the Whitehorse Copper Belt of Yukon, Canada. Gladiator plans to expand its drilling fleet from three to six rigs and focus on resource growth at the Cowley Park and Cub East prospects. BlackRock’s participation as a sign of continued institutional interest in high-quality copper exploration assets amid expectations of long-term copper demand growth.

Newmont announced that its Red Chris copper-gold mine in British Columbia, Canada, has received key regulatory approvals, including an amended Environmental Assessment Certificate and Mines Act permit. The approvals support the transition from open-pit mining to a block cave underground operation and are expected to extend the mine's life into the mid-2040s. The company plans to make a final investment decision later this year. Red Chris hosts an estimated 20 million ounces of gold and 13 billion pounds of copper across its resource base. The project could play an important role in strengthening Canada's copper supply, with forecasts indicating it may increase national copper production by approximately 15% once fully developed.