Latest news with #CESCO
Reuters
09-04-2025
- Business
- Reuters
Peru mining chamber sees 2025 copper production up 2-4%
SANTIAGO, April 9 (Reuters) - Peru's copper output is expected to grow between 2% and 4% this year, said the head of The National Society of Mining, Oil and Energy (SNMPE), Julia Torreblanca. That would put Peru's copper production between 2.79 million and 2.85 million metric tons, compared to 2.74 million tons last year. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Torreblanca said in an interview with Reuters, on the sidelines of the CESCO and CRU copper conferences in Chile, that the government was working to streamline the permitting process so that miners could ramp up production more quickly. Peru is the world's third-biggest producer of the red metal, after being displaced as number two by the Democratic Republic of the Congo in 2023. Torreblanca also said Peru was looking to mitigate the impact of 10% tariffs imposed by U.S. President Donald Trump, and could seek other markets besides the United States if his administration were to put a tariff on copper. "If our product or sales prices are going to be impacted, we will have to evaluate if there are other economies where we can sell our product without harming ourselves," Torreblanca added.
Reuters
09-04-2025
- Business
- Reuters
Germany's Aurubis to ramp up new US copper recycling facility
SANTIAGO, April 8 (Reuters) - Aurubis ( opens new tab will be ramping up its copper recycling smelter in the U.S. this year, the German company's CEO Toralf Haag told Reuters on Wednesday, adding Aurubis sees more potential for investment in future years. Aurubus has invested $800 million building the project, which took four years. Haag said it will process 180,000 metric tons of complex copper scrap and produce 70,000 tons of refined metal annually. "North America is an attractive market. There is no large recycling facility in North America up to now, the majority of the scrap is exported," Haag said in an interview on the sidelines of the CESCO and CRU copper conferences. The U.S. exported nearly 960,000 tons of copper scrap last year, according to information provider Trade Data Monitor (TDM), of which 41% was shipped to China, 11% to Canada and 10% to Thailand. U.S. President Donald Trump has ordered an investigation on the potential for import tariffs on copper including scrap, aiming to encourage more local production of the metal used in the power and construction industries. "The decision to invest in a recycling operation could play an even more important role now, having a facility in the U.S. is beneficial for us," Haag said, adding that the site in Richmond was Aurubis' only operation in the U.S. Aurubis could invest in further recycling capacity in the U.S. "Currently Aurubis focuses on delivering on the Richmond project," Haag said. Sources of copper scrap include the auto industry and cables from telecoms companies. Aurubis expects data centres to be a source of scrap in the future. "Copper in data centres lasts three to five years, then it needs to be replaced because the technology is moving so fast." Data centres for artificial intelligence are expected to be a major source of future copper demand.
Yahoo
09-04-2025
- Business
- Yahoo
Chile sees positive twist to any Trump tariffs on copper
By Daina Beth Solomon and Fabian Cambero SANTIAGO (Reuters) - Chile's place at the low-end of U.S. tariffs announced last week could be favorable for the world's leading copper-producing country if U.S. President Donald Trump decides to slap tariffs on copper, Chile Mining Minister Aurora Williams said on Wednesday. Trump last week imposed a 10% tariff on Chile but exempted copper. It was the baseline amount in a range that stretched as high as 50% for other countries, and has since jumped to 104% for China. Trump's administration is still conducting a probe begun in February into possible tariffs on copper, a metal essential for infrastructure, electrification and the energy transition. Such tariffs would directly impact Chile, which produces a quarter of global copper supply. Chile is in "wait-and-see" mode until the investigation concludes, Williams told Reuters, but sees potential for a positive outcome even if the U.S. imposes tariffs on copper. "If we assume that Chile is within the lowest tariff range, the application of a potential 10% tariff is lower than the tariffs we have seen for other copper-producing countries and therefore also generates a better price position," Williams said in an interview on the sidelines of the CESCO and CRU copper conferences. "This makes us a bit more competitive ... and also generates great opportunities," she added. Peru, the world's third-largest copper producer, also received the baseline 10% tariff. The Democratic Republic of the Congo, the No. 2 copper producer, received 11%. The U.S. initially applied a 34% tariff on China, the biggest refining country for copper, and that rate now has jumped to 104%. Williams said the uncertainty over tariffs could cause global copper demand to slow in the short-term, and could prompt copper producers to redirect global supply routes. Sign in to access your portfolio
Reuters
09-04-2025
- Business
- Reuters
Chile sees positive twist to any Trump tariffs on copper
SANTIAGO, April 9 (Reuters) - Chile's place at the low-end of U.S. tariffs announced last week could be favorable for the world's leading copper-producing country if U.S. President Donald Trump decides to slap tariffs on copper, Chile Mining Minister Aurora Williams said on Wednesday. Trump last week imposed a 10% tariff on Chile but exempted copper. It was the baseline amount in a range that stretched as high as 50% for other countries, and has since jumped to 104% for China. Trump's administration is still conducting a probe begun in February into possible tariffs on copper, a metal essential for infrastructure, electrification and the energy transition. Such tariffs would directly impact Chile, which produces a quarter of global copper supply. Chile is in "wait-and-see" mode until the investigation concludes, Williams told Reuters, but sees potential for a positive outcome even if the U.S. imposes tariffs on copper. "If we assume that Chile is within the lowest tariff range, the application of a potential 10% tariff is lower than the tariffs we have seen for other copper-producing countries and therefore also generates a better price position," Williams said in an interview on the sidelines of the CESCO and CRU copper conferences. "This makes us a bit more competitive ... and also generates great opportunities," she added. Peru, the world's third-largest copper producer, also received the baseline 10% tariff. The Democratic Republic of the Congo, the No. 2 copper producer, received 11%. The U.S. initially applied a 34% tariff on China, the biggest refining country for copper, and that rate now has jumped to 104%. Williams said the uncertainty over tariffs could cause global copper demand to slow in the short-term, and could prompt copper producers to redirect global supply routes.
Yahoo
09-04-2025
- Business
- Yahoo
Chile's Antofagasta predicts strong copper demand despite tariff uncertainty
Chilean mining giant Antofagasta's CEO, Ivan Arriagada, has stated that the recent US tariffs have sparked a potential risk for metal demand, particularly copper, although demand from data centres, renewable energy and AI could potentially compensate for any losses from traditional sectors. Arriagada noted that the resilience of the copper market could withstand the trade war's effects, reported Reuters. He stated that Chile, as the world's leading copper producer and a significant supplier to the US, may evade these tariffs due to its trade surplus with the US and its status as a free-trade partner. During the CESCO copper conference in Santiago, Arriagada also highlighted the limited supply of copper, essential for construction and the transition to a greener economy. Arriagada suggested that Trump's policies may create a more favourable investment climate for mining. 'In the current environment, where there is a lot more support for mining investment, it should be easier and should happen,' Arriagada said, although he acknowledged the absence of tangible progress. Antofagasta, with operations across four mines in Chile and a development project in the US, aims for a production target of 660,000–700,000 tonnes (t) this year. The company's Twin Metals project in Minnesota faces legal challenges regarding permits, but Arriagada remains hopeful. The US exempted steel, aluminium and copper from reciprocal tariffs, effective from 5 April 2025. The US administration is currently considering additional tariffs, although no specific measures for copper have been announced. In anticipation of Trump's tariff announcement, US clients have been stockpiling resources. Arriagada revealed that Antofagasta sent a modest additional amount of copper to the US, without disclosing specifics. In March 2025, copper prices surged more than 5% in New York, outpacing global benchmarks, after President Trump announced a possible 25% tariff on metal imports. "Chile's Antofagasta predicts strong copper demand despite tariff uncertainty" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
