Peru is approaching peak copper — for now — as new mines stall

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PLUS: Lithium boom in Argentina tied to politics | McKinsey report on mining investment | Codelco expects better production in 2024

September 27th, 2023 MINING NEWS DIGEST   Peru is approaching peak copper — for now — as new mines stall Output from the world's biggest copper supplier after Chile this year jumped 20% through July from the same period in 2022.   Lithium boom in Argentina hinges on politics, Zijin unit says Argentina is currently the fourth-biggest producer of lithium.   Climate targets threatened by lack of mining investment: McKinsey Report reveals looming shortages of minerals key to the energy transition as low commodity prices cause investors and miners to cut spending.   Codelco expects copper output to start recovering in 2024 Chairman said it would be a mistake for Codelco to delay projects currently under development.   JV Article: Navigating mining travel terrain made simpler with Corporate Traveller Miners in all facets of the industry need to travel – whether it be to a meeting in an urban hub or […]   Glencore to stop funding troubled New Caledonia nickel plant New Caledonia has some of the world's largest reserves of the metal, but its three smelters have faced years of losses linked to high costs and social unrest.   US-China tensions boost prospects for Mexico copper smelter plan Southern Copper is considering spending $1 billion-plus on a new smelter in Empalme, Sonora state.   Gold price down 1% with higher Fed rate bets supporting dollar On the flip side, gold continued to find some support from robust physical demand.   BHP to make Peru the 'protagonist' of its South American exploration strategy The company will make an investment of $12 million to redouble its efforts in Peru.   Short sellers mount attack on ESG stocks bloated from green hype Hedge fund managers are piling into short positions in ESG stocks as they hunt for bogus green claims and valuations inflated by record stimulus.   Codelco to meet obligations as financials deteriorate The world's largest copper producer will meet its financial obligations despite headwinds from operational problems and high levels of debt and investments, JPMorgan said....   Microsoft to get carbon removal credits from biochar project Producing biological charcoal and burying it in soils is a way of storing carbon for centuries.   Europe lines up African minerals pacts to ease reliance on China The European Union is finalizing partnerships with the DRC and Zambia to boost local industries.   China's gold prices surge, hitting a record against the world On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York.   Mexico not able to cancel Ganfeng Lithium concessions, chamber says Concessions granted before the lithium nationalization should not be altered, says the president of Mexico's mining chamber.     You are receiving this email because this email was subscribed to the MINING.com News Digest List. You may manage your subscription, or unsubscribe at any time. This email was sent to you by MINING.COM Copyright © 2023 . All rights reserved.