Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) will report its Q2 2022 financial results before market open on Monday, August 15, 2022.
The company will hold an investor conference call to discuss the Q2 2022 financial results at 10:30 a.m. Eastern time / 7:30 a.m. Pacific time on the same day. The conference call dial-in is +1-647-484-0258 or toll free 1-800-289-0720, quote "Ivanhoe Mines Q2 2022 Financial Results" if requested. Media are invited to attend on a listen-only basis.
Link to join the live audio webcast: https://bit.ly/3I7kaCR
An audio webcast recording of the conference call, together with supporting presentation slides, will be available on Ivanhoe Mines' website at www.ivanhoemines.com.
After issuance, the Q2 2022 Financial Statements and Management's Discussion and Analysis will be available at www.ivanhoemines.com and at www.sedar.com.
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of major new, mechanized, underground copper mines at the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo and at the Platreef palladium-rhodium-nickel-platinum-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo.
Kamoa-Kakula is the world's fastest growing major copper mine. Kamoa-Kakula began producing copper concentrates in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula is being powered by clean, renewable hydro-generated electricity and is projected to be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Mining Complex. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the Democratic Republic of Congo, near the Kamoa-Kakula Mining Complex.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133570
News Provided by Newsfile via QuoteMedia
Turquoise Hill Resources Ltd is a global mining company that primarily mines copper, gold, and coal in the Asia-Pacific region. The company holds a 66% interest in Oyu Tolgoi, one of the world's largest copper-gold-silver mines, which ships concentrate to customers in China. Oyu Tolgoi is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border. The company also holds interests in companies that mine molybdenum and rhenium in Australia, and gold at the Kyzyl Gold Project in Kazakhstan.
American West Metals Limited (“American West” or the “Company”) (ASX: AW1) is pleased to present its investor presentation.
Click here for the full ASX Release
This article includes content from American West Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.
With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.
After bottoming out at US$2.17 per pound in mid-March 2020, copper has largely been on an upward trajectory.
Higher copper prices in 2021 and early 2022 have been attributed to a widening supply/demand gap. The already tenuous copper supply picture was made worse by COVID-19 lockdowns, and as the world's largest economies seemingly began to emerge from the pandemic, demand for the metal picked up once again. Copper-mining and refining activities simply couldn't keep up with the rebound in economic activity.
In response, the copper price reached record highs in early 2022. But what was the highest price for copper? The Investing News Network (INN) will answer that question, but first let’s take a deeper look at what factors drove the price of copper higher, as well as historical movements in the price of copper.
Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.
Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry (for example, in copper pipes and copper wiring). In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and western economies is expected to support copper prices in the long term.
In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.
Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.
However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.
Europe is becoming a strong hotbed for copper use as its renewable energy sector grows. In 2021, it led the world in EV sales, with a total of about 2.3 million units sold, and analysts expect that trend to continue in the coming years. While internal combustion engine vehicles use about 22 kilograms of copper, hybrid EVs use 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.
Eleni Joannides, principal copper analyst with research firm Wood Mackenzie, told INN that the amount of copper Europe will require to meet forecast EV demand will depend on what type of EVs spark consumer interest.
On the supply side of the copper market, the world’s largest copper mines are facing depletinghigh-grade copper resources, while over the last decade or more new copper discoveries have become few and far between.
The pandemic made the situation worse as mining activities in several top copper-producing countries faced work stoppages and copper companies delayed investments in further exploration and development — a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production. In addition, delayed investments amid the pandemic will also have long-term repercussions for copper supply.
By 2030, analysts at Rystad Energy project that copper demand will outstrip supply by more than 6 million metric tons. “A deficit of this magnitude would have wide-reaching ramifications for the energy transition as there is currently no substitute for copper in electrical applications,” they said in a note. "Significant investment in copper mining is required to avoid the shortfall.”
Furthermore, concern is growing over low warehouse inventories of copper. In late April 2021, commodities analysts at the Bank of America (NYSE:BAC) noted that copper inventories were at their lowest levels in 15 years, covering a mere 3.3 weeks of demand. Projecting copper market deficits looming in the near term, the analysts warned that copper supply shortages might lead to further price spikes.
“Copper is sleepwalking towards a stockout,” Goldman Sachs (NYSE:GS) analysts said more recently in an emailed note to Bloomberg. “We believe higher prices are an inevitability — required to stimulate substantially more scrap supply as well as accelerate demand destruction to balance this market.”
This means end users may need to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.
Taking a look back at historical price action, the copper price has had a wild ride over the past 21 years.
Sitting at a low of US$0.73 in early June 2001, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.
Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.
Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3.
In 2020, the pandemic’s impact on mine supply and refined copper pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.
In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 for the first time ever on May 10, 2021, before falling back to close at US$4.76. Expectations for higher copper demand came amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.
In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines last year and into 2022 could lead to a copper market deficit.
In early 2022, the copper price continued to spike on economic recovery expectations and supply shortages to reach its current all-time high. So what exactly was the highest price for copper?
The price of copper reached its highest recorded price of US$5.02 on March 6, 2022. How did it get there? The metal started out the year at US$4.52. Throughout the first quarter of 2022, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.
However, copper prices have since pulled back on concerns that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, have slowed down construction and infrastructure activity in the Asian nation. As of late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.
Copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand from sectors such as EVs and energy storage increases, and as governments around the world push for green energy transitions.
CRU Group analyst Robert Edwards told INN, “The 2022 copper supply/demand balance has been revised from a 50,000 tonne surplus to a 100,000 tonne deficit.”
S&P Global Market Intelligence has forecast that global copper demand will be driven by solar and wind energy generation, as well as the booing EV market, resulting in 50 million metric tons of demand by 2035.
Copper market fundamentals suggest a return to strength in the long term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.
Joe Mazumdar, editor of Exploration Insights, told INN at the 2022 Vancouver Resource Investment Conference that copper-mining companies are looking very attractive in this market.
"Some of it's battery metal exposure, it's construction," Mazumdar said. "But also on the supply side, the lack of development projects and the higher permitting risk combined with more geopolitical risk in two of the major producers, Chile and Peru. They might have issues with production into a market (where) demand might grow."
Watch the full conversation with Mazumdar.
Mazumdar’s Exploration Insights portfolio includes a focus on copper companies with strong assets. He’s recently visited a number of copper projects, including Ero Copper (TSX:ERO,NYSE:ERO) in Brazil, Pan Global Resources (TSXV:PGZ) and Arizona Sonoran Copper Company (TSX:ASCU,OTCQX:ASCUF).
Are there any copper companies on your radar? If you’re looking for some inspiration, head on over to INN's articles on the top copper stocks on the TSX and TSXV.
This is an updated version of an article first published by the Investing News Network in 2021.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pan Global Resources is a client of the Investing News Network. This article is not paid-for content.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") continues to investigate the cause of a sinkhole that was detected near the Alcaparrosa mine of its Minera Ojos del Salado operations in Chile on July 30 and is cooperating fully with Chilean regulatory authorities in relation to the incident.
All personnel at the operation and in the community are safe and the appearance of the sinkhole did not result in any injuries. As a precautionary measure, development work in an area of the Alcaparrosa underground mine was halted immediately upon detection of the sinkhole, and subsequently all mining operations suspended at Alcaparrosa. On August 4 , Chile's National Service of Geology and Mining (Sernageomin) issued a notification to maintain suspension of all mining activities in Alcaparrosa.
"Our actions in responding to this incident are guided first and foremost by the safety of personnel and community members," said Peter Rockandel , President and CEO of Lundin Mining. "We are fully committed to working cooperatively with an independent investigation by Sernageomin, in addition to conducting our own investigation, and to communicating regularly with community members, union representatives and other stakeholders to ensure they are informed of developments."
Contrary to some media reports, the size of the sinkhole has not changed materially since detection. On July 30 , the sinkhole measured approximately 32 meters in diameter at the surface, 48 meters in diameter at the bottom and 64 meters deep. The sinkhole is being continuously monitored and as of August 9 , the diameter at the surface has increased slightly to 36.5 meters, while the bottom diameter has remained stable at 48 meters and the depth has decreased to 62 meters.
Further information will be provided as events warrant, including following the outcome of investigations into the cause of the sinkhole.
Lundin Mining is a diversified Canadian base metals mining company with operations and projects in Argentina , Brazil , Chile , Portugal , Sweden and the United States of America , primarily producing copper, zinc, gold and nickel.
The information in this release is subject to the disclosure requirements of Lundin Mining under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on August 9, 2022 at 17:15 Eastern Time .
Cautionary Statement on Forward-Looking Information Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects and business strategies; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected costs; permitting requirements and timelines; timing and possible outcome of pending litigation; the results of any Preliminary Economic Assessment, Feasibility Study, or Mineral Resource and Mineral Reserve estimations, life of mine estimates, and mine and mine closure plans; anticipated market prices of metals, currency exchange rates, and interest rates; the development and implementation of the Company's Responsible Mining Management System; the Company's ability to comply with contractual and permitting or other regulatory requirements; anticipated exploration and development activities at the Company's projects; the Company's integration of acquisitions and any anticipated benefits thereof; and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including that the Company can access financing, appropriate equipment and sufficient labor; assumed and future price of copper, nickel, zinc, gold and other metals; anticipated costs; ability to achieve goals; the prompt and effective integration of acquisitions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: risks inherent in mining including but not limited to risks to the environment, industrial accidents, catastrophic equipment failures, unusual or unexpected geological formations or unstable ground conditions, and natural phenomena such as earthquakes, flooding or unusually severe weather; uninsurable risks; global financial conditions and inflation; changes in the Company's share price, and volatility in the equity markets in general; volatility and fluctuations in metal and commodity demand and prices; changing taxation regimes; delays or the inability to obtain, retain or comply with permits; reliance on a single asset; unavailable or inaccessible infrastructure, infrastructure failures, and risks related to ageing infrastructure; risks related to negative publicity with respect to the Company or the mining industry in general; health and safety risks; pricing and availability of key supplies and services; the threat associated with outbreaks of viruses and infectious diseases, including the COVID-19 virus; exchange rate fluctuations; risks relating to attracting and retaining of highly skilled employees; risks inherent in and/or associated with operating in foreign countries and emerging markets; climate change; regulatory investigations, enforcement, sanctions and/or related or other litigation; existence of significant shareholders; uncertain political and economic environments, including in Argentina , Brazil and Chile ; risks associated with acquisitions and related integration efforts, including the ability to achieve anticipated benefits, unanticipated difficulties or expenditures relating to integration and diversion of management time on integration; indebtedness; liquidity risks and limited financial resources; funding requirements and availability of financing; exploration, development or mining results not being consistent with the Company's expectations; risks related to the environmental regulation and environmental impact of the Company's operations and products and management thereof; activist shareholders and proxy solicitation matters; reliance on key personnel and reporting and oversight systems, as well as third parties and consultants in foreign jurisdictions; historical environmental liabilities and ongoing reclamation obligations; information technology and cybersecurity risks; risks related to mine closure activities, reclamation obligations, and closed and historical sites; social and political unrest, including civil disruption in Chile ; the inability to effectively compete in the industry; financial projections, including estimates of future expenditures and cash costs, and estimates of future production may be unreliable; actual ore mined and/or metal recoveries varying from Mineral Resource and Mineral Reserve estimates, estimates of grade, tonnage, dilution, mine plans and metallurgical and other characteristics; ore processing efficiency; risks associated with the estimation of Mineral Resources and Mineral Reserves and the geology, grade and continuity of mineral deposits including but not limited to models relating thereto; enforcing legal rights in foreign jurisdictions; community and stakeholder opposition; changes in laws, regulations or policies including but not limited to those related to mining regimes, permitting and approvals, environmental and tailings management, labor, trade relations, and transportation; risks associated with the structural stability of waste rock dumps or tailings storage facilities; dilution; risks relating to dividends; conflicts of interest; counterparty and credit risks and customer concentration; the estimation of asset carrying values; challenges or defects in title; internal controls; relationships with employees and contractors, and the potential for and effects of labor disputes or other unanticipated difficulties with or shortages of labor or interruptions in production; compliance with foreign laws; potential for the allegation of fraud and corruption involving the Company, its customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; compliance with environmental, health and safety regulations and laws; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's AIF and the "Managing Risks" section of the Company's MD&A for the year ended December 31, 2021 , which are available on SEDAR at www.sedar.com under the Company's profile. All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward ‐ looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2022/09/c1253.html
News Provided by Canada Newswire via QuoteMedia
Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) today announced that, pursuant to the terms of an asset purchase agreement dated May 18, 2022 between, among others, American Copper Development Corporation (" American Copper ") and Hudbay's wholly owned subsidiary, Mason Resources (US) Inc. (" Mason "), American Copper issued 9,896,591 common shares (the " Consideration Shares ") to Mason as partial consideration for the acquisition of a 100% interest in Mason's Lordsburg property in New Mexico, United States. The Consideration Shares represent approximately 12.0% of American Copper's currently issued and outstanding shares.
Promptly following the closing of the transaction, Mason entered an agreement to transfer the Consideration Shares to Hudbay at fair market value. Prior to the transaction, Hudbay held no common shares of American Copper.
This news release is issued pursuant to applicable Canadian securities laws. A copy of the corresponding early warning report will be filed and be available on American Copper's profile on SEDAR at www.sedar.com. The head office of American Copper is located at 2710 Granville Street, Suite 200, Vancouver, British Columbia, V6C 1S4. The head office of Hudbay is located at 25 York St, Suite 800, Toronto, Ontario, M5J 2V5.
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes information that relates to, among other things, statements with respect to the acquisition of American Copper shares. Forward-looking information is not, and cannot be, a guarantee of future results or events.
Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Hudbay at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
Hudbay (TSX, NYSE: HBM) is a diversified mining company with long-life assets in North and South America. The company's operations in Cusco (Peru) produce copper with gold, silver and molybdenum by-products. Its operations in Manitoba (Canada) produce gold with copper, zinc and silver by-products. Hudbay's organic pipeline includes copper development projects in Arizona and Nevada (United States), and its growth strategy is focused on the exploration, development, operation, and optimization of properties it already controls, as well as other mineral assets it may acquire that fit its strategic criteria. Hudbay's mission is to create sustainable value through the acquisition, development and operation of high-quality, long-life deposits with exploration potential in jurisdictions that support responsible mining, and to see the regions and communities in which the company operates benefit from its presence. Further information about Hudbay can be found on www.hudbay.com .
For investor and media inquiries or to obtain a copy of the Early Warning Report, please contact:
Candace Brûlé Vice President, Investor Relations (416) 814-4387 candace.brule@hudbay.com
News Provided by GlobeNewswire via QuoteMedia
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.