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Nov 02, 2020nbsp018332While OZ and Sandfire export their copper in intermediate products, BHP produces the finished product sheets of copper metal from its Olympic Dam mine in South Australia.
Nov 03, 2020nbsp018332BHP has committed all of its copper assets to the Copper Mark, including the Olympic Dam mine in Australia. In total, BHP produced 1.5 million tonnes of copper in the 2020 financial year.
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Copper miner Sandfire is confident it could find buyers for its products outside of China if Australiax27s biggest customer decided to add copper to its blacklist of Australian products.
Shares in Sandfire slumped by more than 5 per cent on Tuesday after Chinese media speculated that Australian copper could be hit with the sort of restrictions that have already hit Australian barley, lobsters, wine and coal exports this year.
The unconfirmed speculation caused less heartache for investors in South Australian copper exporter OZ Minerals, which saw its shares rise incrementally on Tuesday.
These sheets of copper metal were made at BHPx27s Olympic Dam mine in South Australia.-- --Bloomberg.
The speculation came after a fortnight in which copper stockpiles surged to the highest levels since July on fears that coronavirus lockdowns in Germany, France and the UK could crimp the global economy and therefore demand for copper, which is ubiquitous in manufacturing.
MELBOURNE, Nov 6 Reuters - An unofficial Chinese ban on Australian copper concentrate imports could hurt Chinese smelters in their negotiations with miners on benchmark treatment charges for 2021, traders and analysts said.
Australian media reported that Chinese importers have been informally warned by Chinese customs officials that a range of Australian goods, including copper concentrate, will be targeted for increased inspections from Nov. 6 amid a diplomatic rowbetween the two countries.
The orders had already forced traders to divert some small shipments bound for China, two traders told Reuters on Friday. While Australia is not a big supplier of copper concentrate to China, the row comes as supplies from South America have been disrupted by the coronavirus epidemic which looks set to erode the bargaining power of smelters in China to buy for next year.
1 day agonbsp018332Orica to deliver tech and blasting services to Glencores Australia copper, inc ops Posted by Daniel Gleeson on 9th November 2020 Orica says it has been awarded a five-year explosives technology and services contract for Glencores Australia copper.
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following yearaposs TCRCs. quotThe timing couldnapost have been worse. The one area that is not struggling with COVID-19 impacts to logistics is Australia,and thataposs the place they have banned.
The South Americans will use this as leverage,quot said a copper concentrate trader based in Australia. Chile and Peru are Chinaaposs biggest suppliers. Spot TCs plumbed an eight-year low of 50.50 a tonne this week, a 30 drop from the 2020 high hit in March and well below the annual benchmark of 62 a tonne, Asian Metalsdata showed.
quotThe ban may drive the spot market lower for China. For the 2021 benchmark, a slide is fair but I think it will actually settle near 60 a tonne and 6 cents per pound,quot said a Singapore-based trader.
A second Australia-based trader forecast the benchmark in the mid 50s a tonne. DIVERSION In the short term, traders are scrambling to redirect Australian shipments. quotIf you had a ship full of copper concentrate floating offshore, youaposre rapidly trying to find a home,quot a second Australia-based trader said. Traders said Australian shipments meant for China could divert to Japan, Korea, India, or to blending facilities inTaiwan or Malaysia.
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The ban is expected to have only a limited impact on the Chinese concentrate marketaposs supply-demand balance, as Australia accounts for just less than 5 of Chinaaposs concentrate imports. Australiaaposs two biggest copper producers, BHP Group and trading house Glencore, are also unlikely to be affected. BHP does not export copper concentrate and Glencore can divert material to its two smelters, each in Australia and the Philippines, they said.
Oct 28, 2020nbsp018332The Kj248li copper-inc-silver-gold VMS project represents a district-scale 120 square kilometres, or 12,000 Ha land position on the northern extension of the greater R248ros district, which saw.
The first major discovery of copper in Australia was at Kapunda in South Australia in 1842 when Francis Dutton found copper ore whilst searching for lost sheep. By the 1860s, South Australia was known as the Copper Kingdom because it had some of the largest copper mines in the world.
Jun 19, 2019nbsp018332Copper also accounts for 60 of its annual exports, mainly to Asian countries including the metals top consumer, China. Also speaking at the copper conference, Minnovex AG vice president Juan Rayo Calderon said Chiles biggest challenge was that its mining productivity has fallen well below that of its overseas competitors.
Net sales of selected mining equipment manufacturers in 2011 Production of selected commodities by leading mining companies 2013 Alloy semis exports from Australia 2010-2019.
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