According to SMM, Argentina's Mining Minister Luis Lucero stated that due to the imminent launch of numerous lithium projects and the new impetus for copper projects, Argentina's mining exports will more than double from approximately USD 4 billion this year to approximately USD 10 billion by 2027. Lucero, commenting to international media for the first time since taking office in April this year, noted that lithium, a metal for electric batteries, will be a crucial driving force behind the mining export boom, with a series of projects scheduled to commence production later this year. This South American country is actively striving to become a key supplier of lithium and copper, both metals that are vital to the global development of renewable energy, electric vehicles, and artificial intelligence. Efforts to revive copper production have attracted major companies such as BHP Billiton, Glencore, Lundin Mining, and First Quantum Minerals, which will also boost exports when promising projects come online in the coming years.

According to SMM, Victor Gobitz, head of the Peruvian Mining and Energy Association (SNMPE), stated that Peru is expected to produce 2.7 million to 2.8 million tonnes of copper this year, falling short of the government's target of 3 million tonnes. Peru is the third-largest copper producer globally. Copper is widely used in automobiles and construction, particularly in electrical wiring, due to its conductivity. Gobitz provided this production estimate during a break at an economic forum in the capital Lima. He is also the CEO of Antamina, Peru's second-largest copper mine. Antamina is controlled by Glencore, BHP Billiton, Teck, and Mitsubishi. Official data shows that the country's copper production totaled 1.29 million tonnes in the first half of 2024, a decrease of approximately 2% compared to the same period in 2023. Last year, Peru's copper mines produced 2.76 million tonnes of copper. This decline in copper production in Peru has contributed to the recent economic slowdown, with the local economy growing by more than 5% in both April and May but only around 0.2% in June.

[LME closing on August 16: mixed performance in metals, with copper futures falling due to eased supply concerns] LME copper futures fell on Friday as mining group BHP Billiton said it had reached an agreement with the union to resolve the strike at the Escondida copper mine in Chile, easing concerns about global supply, but the union declined to comment. (Wenhua Finance)

Aluminium Bahrain B.S.C., the world’s largest single-site smelter, announced on August 6 the appointment of Ricardo Fontes Santana as a new Chief Financial Officer (CFO).

More than 25 global car and battery makers have expressed interest in buying nickel from its new plant in Indonesia, Australian-listed company Nickel Industries CEO Justin Werner said on Tuesday. The company's new high-pressure acid leaching (HPAL) smelter in Sulawesi will be completed in the second half of 2025 with an annual capacity of 7-80,000 tonnes.

According to the United States Geological Survey (USGS), global copper reserves were 1 billion tons in 2023. Countries rich in copper resources mainly include Chile (190 million tons), Australia (100 million tons), Peru (120 million tons), and Russia (80 million tons), Mexico (53 million tons) and the United States (50 million tons), etc. In terms of output, global copper output from ore in 2023 was 22 million tons. The main copper-producing countries were Chile (5 million tons), Peru (2.6 million tons), China (1.7 million tons), and the United States (1.1 million tons).