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MMG Limited, the Australian nonferrous metals subsidiary of China Minmetals Corporation, expects to perform strongly in 2019 with copper production projected to reach 385,000-405,000 tonnes (metal contained). However, the Melbourne-based firm’s copper output witnessed a sharp decline last year, according to the company’s Q4 production report released on January 24.
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Anglo American’s copper production jumped 23% on year to 183,500 tonnes in the fourth quarter of 2018, hitting a five-year high since Q4 2013, the global miner said in its latest quarterly report released on January 24. All tonnage is metal contained basis, Mysteel notes.
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BHP has raised its guideline for copper production for its 2019 fiscal year (ending June 30) to 1.64-1.74 million tonnes from the previous guidance of 1.62-1.7 million tonnes, according to the company’s latest quarterly report released on January 22. The Australian miner has upped its guidance – even though actual copper production over July-December declined – mainly because financial issues led BHP to cancel its agreement to sell the Cerro Colorado mine in Chile.
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Operational
performance
(i) Other copper comprises Pampa Norte
(including Cerro Colorado production for the full 2019 financial year to
reflect its retention, previous guidance only included 35,000 tonnes of
production for the first half of the 2019 financial year), Olympic Dam and
Antamina.
(ii) Increase in BHP’s share of
volumes reflects the expiry of the Wheelarra Joint Venture
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Alcoa Corporation, a global producer of bauxite, alumina and aluminum headquartered in Pennsylvania in United States, expects a decline in aluminum shipments this year though it sees the global aluminum market enjoying sound fundamentals overall, according to the company’s latest Q4 and full-year 2018 results published on January 16.
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Jiangxi Copper Co, China’s leading copper producer in Southeast China’s Jiangxi province, has formally completed its Yuan 325 million ($48.1 million) acquisition of 65% of Yantai Guoxing Copper Co in East China’s Shandong province from Yantai Guofeng Investment Holding Co, another state-owned company in Shandong, an official from Shandong Property Rights Exchange Center confirmed Thursday. Jiangxi Copper had raised its hand to buy the stake late last year, Mysteel understands from the market.
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The Brazilian state of Para has lifted the production embargo it had imposed last year on Norsk Hydro’s Alunorte alumina refinery, the Norwegian aluminium producer announced on Wednesday. Alunorte, the world’s largest alumina refinery, has a nominal capacity of 6.3 million tonnes/year and normal annual production of around 5.8 million t/y, according to Hydro.
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Production
summary
Source: South32, released on January 17
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Linyi Xinhai New Material Co (Xinhai), a ferroalloys producer based in East China’s Shandong province, has expanded its ferronickel production after a new large rotary kiln electric furnace and associated production facilities were put into operation on January 6, according to post by equipment supplier Dalian Huarui Heavy Industry Group Co on Wednesday.
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China Minmetals Corp commenced the trial production at a 300,000 tonnes/year zinc smelting plant, the first-stage development of its copper-zinc-lead eco-friendly production base on December 26 in Shuikoushan Industrial Park, Hengyang of Central China’s Hunan province, the local media reported on Thursday, while the company officials couldn’t be reached for comments.
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Xinjiang Joinworld, a diversified aluminum conglomerate based in Northwest China’s Xinjiang Uygur Autonomous Region, plans to build a 1 million tonnes/year alumina refinery in the West African country of Guinea, a company official confirmed on Tuesday.
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Rio Tinto has shipped the first vessel of bauxite from the Amrun project in Queensland, Australia recently, which was six weeks ahead of schedule, destined to its alumina refinery in Gladstone, also in Queensland, Australia.
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Aluminum Corporation of China Limited (Chalco), the Shanghai-listed arm of China Aluminum Group, has announced it is joining the bidding to buy the 50% stake which state-owned Baotou Transportation Investment Group is selling in its withdrawal from bauxite miner and alumina refiner, Shanxi Huaxing Aluminum Co, according to a Chalco announcement on November 21.
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Jiangxi Copper Company, a major Chinese copper smelter located in East China’s Jiangxi province, has settled 2019 treatment and refining charges (TC/RCs) for copper concentrates with London-based Antofagasta Plc at $80.8/t and 8.08 cents/lb respectively, with the TCs being down $1.45/t compared with the previous year, an official from Jiangxi Copper confirmed on November 21. Antofagasta has extensive copper interests in Chile.
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Of the 3,600 enterprises expected at China’s first-ever event organized to boost the country’s imports of goods and services – the China International Import Expo (CIIE) currently underway in Shanghai – are numerous foreign mining enterprises across the ferrous, nonferrous and energy industries, many of which have evidently already achieved their goal of furthering cooperation with China.
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State-owned China Minmetals Group has signed a five-year copper cathode procurement contract with KGHM, formerly known as the Polish State Mining and Metallurgical Combine, according to a release from China’s State-owned Assets Supervision and Administration Commission of the State Council.
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United Company Rusal Plc (Rusal), the world’s second largest aluminum producer after China Hongqiao Group, posted a profit of $1.55 billion during the first nine months of 2018, an increase of 98.1% on year, mainly thanks to the rises in aluminum and alumina prices despite its declining sales, according to the company’s Q3 report released on November 5. Rusal’s profit for Q3 alone surged 46.3% on quarter or 91.3% on year to $597 million, it said.
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Aluminum Corporation of China (Chalco), China’s largest alumina and aluminum producer, has commenced the construction works at the 12 million tonnes/year Boffa bauxite mine in Guinea, Chalco’s first overseas project of its kind, on October 28, according to a company release.
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The diversified Anglo-Swiss miner Glencore achieved a 12% year-on-year rise in copper output over January-September to 1.06 million tonnes and a 13% year-on-year jump in nickel production to 90,900 tonnes over the same period, according to its latest quarterly report released on October 26. But production of zinc was lower by 5% on year to 786,000 tonnes as of end-September, it reported.
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Southern Copper Corp (SCC), one of the largest integrated copper producers and headquartered in Phoenix, USA, posted a notable decline in net profits in the third quarter of 2018, the company has announced, with its net income declining 8.1% on year to $369.4 million despite higher production and sales.
