News about copper mining

Hot Chili confirmed a second porphyry centre, La Verde South, about 30 km south of the Costa Fuego processing hub, near-doubling the growth potential of La Verde. Step-out RC hole DKP084, about 250 m south of La Verde's +0.4% Cu footprint, intersected 148 m grading 0.44% CuEq (0.39% Cu, 0.07 g/t Au) from 36 m, including 44 m at 0.56% CuEq from 138 m. Diamond hole DKD100, 100 m further south, visually recorded a 307 m interval of copper porphyry-style mineralisation and was still drilling at 347 m toward a planned 500 m. The maiden La Verde Mineral Resource Estimate, the revised Costa Fuego PFS and the EIA submission remain on track, with 4 drill rigs operating and assays pending for 25 holes.

Supervisors at BHP’s Escondida, the world’s largest copper mine, plan to strike at 8 a.m. local time Wednesday after government-mediated talks failed to produce a contract; the union represents about 1,020 workers. Chile’s August copper output fell 12.8% from a year earlier to 369,500 tons, the lowest monthly total since February 2011, and a landslide at Codelco’s El Teniente killed two contractors. S&P Global projects copper demand will rise from 28 million metric tons in 2025 to 42 million by 2040, while the IEA still sees primary supply about 25% short of requirements in 2035. The article also cites other hurdles, including China’s sulphuric acid export ban, long permitting timelines in Chile and social conflicts in Peru.