Copper Financial News

BSE Sensex ended higher by 742.06 points or 1.14 per cent at 65,675.93 level while the Nifty 50 closed at 19,675.45 level, up 231.90 points or 1.19 per cent. Nifty 50 index opened higher and hit intraday high of 19,653 levels, logging 210 points gain during Wednesday session against its Monday close of 19,443 mark.

China is in the midst of a breakneck expansion of its copper industry that’s reshaping global flows of the essential metal for the world’s energy transition. The smelter build-up will be a key talking point for hundreds of copper-industry executives descending this week on China’s commodity hub of Shanghai for Asia Copper Week. Miners and smelters will negotiate key annual ore-supply contracts, and attendees will take the latest temperature of Chinese demand. Despite the financial toll of the pandemic and China’s property crisis, the nation’s metals consumption has been relatively strong in 2023.

By Valentine Hilaire and Divya Rajagopal

By Valentine Hilaire

Protesters marched across Panama against a contract extension for copper mining in a biodiverse region

₹2 lakh for the first offence. For subsequent offences the fine increases to a minimum of ₹5 lakh, and up to 10 times the value of the goods in question.

quality norms for copper products, drums and tin containers to curb their sub-standard imports and boost domestic manufacturing. The Department for Promotion of Industry and Internal Trade (DPIIT) issued two separate notifications — Drums and Tins (Quality Control) Order, 2023; and Copper Products (Quality Control) Order, 2023. These orders will come into force with effect from six months from the date of publication of this notification.

Lithium Power International has sold itself to state-owned Corporacion Nacional del Cobre de Chile for $385 million, as the mineral-rich South American economy bulks up its critical minerals resources projects.

Swiss mining giant Glencore is set to close its copper mining operations in Mount Isa by the end of 2025 — which will result in the loss of about 1000 jobs — but it will keep its refinery and smelters open in Central Queensland.

By Clara Denina, Divya Rajagopal and Julian Luk

Investing.com-- Gold prices moved little in Asian trade on Friday, hovering near a seven-month low hit earlier this week as markets awaited key U.S. inflation data, while copper prices rose amid bets that a week-long Chinese holiday will help perk up economic growth. 

State-owned Hindustan Copper on Tuesday announced the appointment of Umesh Singh as Executive Director (ED) at the company.He assumed the charge as ED (Mining) on Monday at the company’s corporate office, Hindustan Copper said in a regulatory filing.

It was the best data in a while in a country starved of good economic news: China reported on Friday that its industrial output grew 4.5% in August from a year earlier, versus a forecast 3.9%. Retail sales expanded by 4.6%, beating an expected increase of 3%, 

Investing.com-- Gold prices rose in Asian trade on Friday as markets bet that the Federal Reserve will keep rates on hold despite recent increases in inflation, while copper prices surged on more stimulus measures from major importer China.

Vedanta Resources has appointed South African mining veteran Chris Griffith to run its base metals unit, including its recently regained Zambian copper mines. Griffith stepped down as chief executive of Gold Fields in December, after a short stint at the Johannesburg-based gold producer, following an unsuccessful bid to buy Canadian Yamana Gold. Much of Griffith's career has been at Anglo American where he ran Kumba Iron Ore and was instrumental in restructuring and turning around Anglo American Platinum . Griffith will head Vedanta's base metals unit, including zinc mines in Namibia and South Africa, an iron ore business in Liberia and will have oversight over processing businesses in the Middle East and India. A mining engineer, Griffith will probably be more focused on restoring Konkola Copper Mines to profitable operation after the Indian company was given back control of the assets by Zambian authorities after years of protracted battle over the ownership. «I look forward to driving innovation, operational efficiency and sustainable growth across Vedanta's base metals businesses, creating KCM as a cornerstone asset for the company and growing the group internationally,» he said in a statement. Vedanta has pledged to invest about $1 billion in the Zambian operation, where some of its underground mines «need immediate recapitalisation», Mines Minister Paul Kabuswe said on Sept.

The Biden administration is recommending changes to a 151-year-old law that governs mining for copper, gold and other hardrock minerals on U.S.-owned lands, including making companies pay royalties on what they extract

Vedanta Ltd acquire Konkola Copper Mines from parent Vedanta Resources Ltd, which has regained control of one of the world’s largest copper mines from the Zambian government. After Agarwal, the Vedanta Group chair, in an uncharacteristic move, shared his views, many proxy advisory firms and investors raised questions on the group’s intention to potentially use the proposed transaction to repay its rising debt.

Mining baron Anil Agarwal on Tuesday said the Konkola Copper Mines, which returned to his London-based firm Vedanta Resources last week, can be moved to the group's India-listed firm Vedanta Ltd «at the right valuation». Last week, Zambia agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, which is the parent firm of Mumbai-listed Vedanta Ltd. The Zambian government, which owns a 20 per cent stake in KCM, will allow Vedanta to resume control and operate KCM's mines and smelter after the company renewed a pledge to invest more than USD 1.2 billion to increase output and repay outstanding debts. «Going forward, my thought is that we must maximize synergies between KCM and Vedanta Ltd's refining/smelter businesses in UAE & India,» Agarwal said in a post on X.

Investing.com-- Gold prices moved little on Tuesday as the dollar arrested recent losses before key U.S. inflation data due later this week, while copper prices held on to recent gains on hopes that the worst had passed for China’s economy. 

Investing.com-- Gold prices rose on Monday, taking some relief from a drop in the dollar ahead of key inflation data due this week, while copper prices rose sharply as Chinese inflation data showed some signs of improvement.

Balrampur Chini, Delta Corp, Chambal Fertilizers & Chemicals, Hindustan Copper, The India Cements, Indiabulls Housing Finance, Manappuram Finance, Punjab National Bank (PNB) and Steel Authority of India (SAIL). The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Delta Corp stood at 92.4% on Friday with OI reported by Trendlyne at 15.5 million. It was down 2.8% from the previous session. The MWPL for Chambal Fertlizers stood at 96.5% with OI at 15.6 million.