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.
New drilling at the Nanadie copper-gold project has intersected high-grade mineralization, and the resource could rise significantly.
Rio Tinto says it is not rushing to restart merger talks with Glencore after the standstill period ended.
On the macro side, the US-Iran military conflict continues to escalate. US forces struck Iran on the night of July 29, and Trump said military action will resume if diplomacy fails and plans to authorize tariffs on Iran.
Xinke Materials plans to acquire a 20% minority stake in Xinke Copper, increasing its ownership to 100% and making it a wholly-owned subsidiary.
US refined copper imports exceeded 200,000 tonnes in July, setting a record monthly inflow, with copper entering the country at the fastest pace in at least 12 years.
Capstone Copper is optimizing its operations amid rising sulfuric acid costs, prioritizing higher-margin sulfide ore at its Mantoverde mine in Chile.
The copper supply-demand gap is expected to widen to 300,000 tonnes, while mine-stage costs continue to climb.