Teck stock drops to seven-month low on rising cost of flagship copper mine

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PLUS: Anglo lowers copper guidance | De Beers output falls | Australia boosts critical minerals fund

October 24th, 2023 MINING NEWS DIGEST   Teck stock drops to seven-month low on rising cost of flagship copper mine The Quebrada Blanca 2 project would now cost between $8.6 billion and $8.8 billion, compared with an earlier estimate of $8 billion to $8.2 billion.   Anglo American lowers 2023 copper production guidance Anglo expects to produce between 830,000 and 870,000 metric tons of copper this year, lowering a previous forecast of 840,000 to 930,000.   De Beers output falls amid Venetia mine transition De Beers stopped its 30-year open pit mining operations at Venetia last year to transition it to underground extraction.   Australia boosts critical minerals fund by over $1 billion to attract international investors The $1.3 billion boost will increase the capacity of Australia's Critical Minerals Facility to finance mining and processing projects for materials.   Video: Don Lindsay on Glencore's pursuit of Teck and resource nationalism "They don't distinguish between the good coal and the bad coal," former Teck CEO says.   In Australia's outback, Rio Tinto prepares for a low carbon future Rio's newest mine, Gudai-darri, is on track to hit record production, while it halves carbon emissions by 2030.   NextSource Materials ships first graphite from Molo mine in Madagascar Solar hybrid plant at Molo now also fully operational, the company said.   Petra Diamonds says supply curbs, India's moratorium stabilizing market The miner is confident about the positive effects that supply curbs by major producers and India's two-month import moratorium will have on the market.   Ma'aden subscribes for more Ivanhoe Electric shares to maintain 9.9% stake The Saudi state-owned miner previously paid $126.5 million for its original 9.9% stake.   Freeport Indonesia will need to slash output in 2024 if not allowed to export concentrate Indonesia is set to stop exports of copper concentrate from May after the government delayed the implementation of a ban from June this year.   How Romans pioneered silver recycling Gold impurities in silver coins and lead pollution in Greenland ice show that the Romans were pioneers of recycling.   Rock Tech Lithium to raise $7.3 million for Georgia Lake, converter projects Located 160 km northeast of Thunder Bay, Georgia Lake is planned as an open-pit and underground mining project.   Malaysia allows Lynas to import radioactive raw material until 2026 The extension comes despite recent concerns in Malaysia about radiation levels from raw material processing.   Nigeria seeks to tighten rules to curb raw mineral exports The country has lithium, gold, bitumen and iron ore deposits and is intent on emulating nations such as Indonesia in climbing up the commodities value chain.     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.