The deputy minister of the Peruvian copper ministry says that this year's production is expected to be below expectations.
The world's third largest copper producer, Peru is expected to fall short of its government goal this year. A top mining official told reporters on Wednesday that the government's goal of 3,000,000 metric tons of the metal will probably not be met this year. The output is on track to be around 2.8 million tonnes this year…
Congo Defends Right to Explore for Oil in National Parks
Democratic Republic of Congo's oil minister on Thursday defended the country's right to explore for oil anywhere on its territory after media reports that President Joseph Kabila approved drilling in Africa's largest tropical rainforest reserve. Oil minister Aime Ngoy Mukena…
Tullow Launches Oil, Gas Exploration in Zambia
British company Tullow Oil on Friday started exploring for oil and gas in Zambia, Africa's No.2 copper producer, as the country pushes to diversify its economy and reduce its reliance on the industrial metal. Copper mining earns Zambia more than 70 percent of its foreign exchange…
Zambia Hikes Electricity Rates for Mining Companies
Zambia increased the price of electricity for mining companies by 26 percent this year as Africa's second-largest copper producer seeks to attract investment in power generation, mining industry sources said. The ministry of energy told mining companies they will pay 10.35 U.S.
Poland Mulls Oil & Gas Mergers
Poland mulls mergers between its three biggest state-run oil and gas companies - PKN Orlen , Lotos and PGNiG and is analyzing various options, the treasury minister Dawid Jackiewicz said on Monday. "I have started works on this concept to find out what positive effects one could expect.
Glencore, Vedanta Struggle Over Zambia Copper Mines Cuts
Glencore and Vedanta Resources' plans to slash costs at unprofitable copper mines in Zambia are facing strong resistance from the government and trade unions. The Confederation of Trade Unions of Zambia President Joe Kamutumwa said on Wednesday that Mopani Copper Mines, owned by Glencore…
Zambia to End Power Tariff Subsidies for Big Firms
Zambia's government will stop supplying cheap electricity to large industries as Africa's No.2 copper producer battles a power crunch affecting its economy. The move away from subsidised electricity tariffs for large consumers will happen immediately, while state utility Zesco will source energy from private producers to plug the deficit…
Zambia to Import Power, Build New Plants to Stem Shortages
Zambia will begin importing power and push forward with construction of new generation plants to stem electricity shortages that threaten mining output, government spokesman Chishimba Kambwili said on Monday. Zambia's cabinet authorised state-run power company Zesco to import…
Zambia Cuts Power as Dam Level Drops on Drought
Africa's second-biggest copper producer Zambia has cut its power generation by 300 megawatts after water levels in the Kariba dam, a key source of hydro power, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia planned…
Chile Mining Sector to Double Energy Demand by 2025
Chile's sprawling mining industry, responsible for around a third of global copper output, is set to nearly double its electricity use by 2025 as multibillion-dollar investments come to fruition, state copper commission Cochilco said on Wednesday. Top copper producer Chile…
Chile Copper Mine Workers Plan One-day Strike
Contract workers at Chilean copper mines are planning a one-day strike next month, demanding changes to labor laws, a union head said on Tuesday. The stoppage on Sept. 4 is being held by the Confederation of Copper Workers (CTC). Union members are contractors, many of whom supply services such as catering to mines…
Chile Eyes Use of US Shale Gas in Early 2016
Chile's state oil company ENAP said on Tuesday it would start using U.S. shale gas during the first half of 2016 via an ongoing supply contract with Britain's BG Group Plc. Energy Minister Maximo Pacheco was quoted by local media last week as saying that ENAP had signed a long-term deal with Centrica-owned British Gas…
Chile Plans New Port, Seeks to Boost Innovation
Chile president Michelle Bachelet said on Friday her center-left government was planning the development of a "big scale" port in the center of the copper-exporting country. Bachelet also estimated about $1 billion would be allocated to foster innovation in the Andean country…
Apache to Sell US Gulf Assets for $1.4b
Apache Corp said it would sell properties in the Gulf of Mexico for $1.4 billion as the U.S. oil and gas company focuses on its more lucrative shale fields in North America. The company is selling its interests in two development projects and 11 deepwater exploration blocks in the Gulf of Mexico to Freeport-McMoRan Copper & Gold Inc.
Zambia Seeks Financiers for Oil Supply Tender
Zambia is looking for financiers for the import of 1.4 million tonnes of semi-processed oil for a period of three years, the ministry of finance said on Wednesday. The government also advertised for expressions of interest to provide a revolving financing facility for the import of diesel and petrol for the same period…
GasAtacama has US LNG Providers Lined Up
GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday.
