A Goldman Sachs report says critical minerals M&A is accelerating as companies adopt integrated strategies to secure supply chains.
High copper prices and capacity release lift H1 profit by 123%
Recent divergence in COMEX and LME copper prices and inventories continues to widen.
Construction of Yulong Copper Mine Phase III is advancing steadily, with infrastructure works planned for completion by end-2026; total project capital expenditure is about RMB 4.8 billion.
On August 5, LME copper touched USD 14,125/t intraday, second only to the USD 14,196.5/t high set on May 13.
South African gold major Harmony Gold has finalized a multi-currency financing package worth over ZAR 20 billion to refinance debt from the acquisition of Australia's MAC copper mine and support long-term copper growth.
Western Mining said during a survey that it holds a 58% controlling stake in Yulong Copper; the Chating copper mine exploration right was obtained by Yulong Copper through public auction, with the company's look-through stake at 58%.
Tongling Nonferrous Metals Group Tongguan Mine Construction Co., Ltd. (stock code: 920019) announced that it has formally signed an Angola copper mine infrastructure construction contract.
Zangge Mining announced that its associate Julong Copper decided to carry out an interim dividend, and the company received RMB 616 million in cash dividends based on its 30.78% shareholding.
The US is buying refined copper at a pace not seen in at least 12 years, with monthly imports exceeding 200,000 tonnes and copper inventories potentially hitting a 100-year high.
On August 5, the non-ferrous metals sector rallied broadly. LME copper returned to the $14,000/t mark, spot premiums widened to $115/t (the largest since January), and LME deliverable stocks stood at only 94,000 tonnes, slightly above one day of global copper consumption.
The global copper market faces supply tightness due to anticipated US tariff arbitrage; LME copper prices returned to the $14,000 level, just 1% below the historical high.
Mariana Minerals secured $310 million in financing to advance its copper-lithium project.
Copper price breached US$14,000 as US import demand tightens global supply.
US copper stockpiling reaches a 12-year high as global copper market structure faces reshaping.
Jinchixin's subsidiary signed a mining contract for the Chambishi Copper Mine with a total value of US$115 million.
The Julong Copper Mine's Phase II has been commissioned and reached full production. Phase III is planned to produce 600,000 tonnes of copper per year.
US refined copper imports reached a 12-year high in July, with tariff expectations triggering a stockpiling wave.