BHP last week outlined its vision for the future of its copper operations in Chile, earmarking up to $14 billion to stabilise copper production at 1.4 million tonnes from the start of the next decade. “BHP’s growth plans are bold but well-supported by strategic initiatives and detailed engineering,” said Ivan Llancas, copper analyst at Benchmark. […]
> CODELCO, the Chilean state-owned copper miner, has reportedly offered their European customers record premiums on copper cathodes at USD 325/t for 2026 – 39% higher than last year’s level – according to sources familiar with the matter and media reports. This follows on from news last week that Aurubis increased offers 38% for 2026, leaving […]
> The broad LME/CME arbitrage continues to be a talking point, even months after it collapsed as result of cathodes being precluded from US copper tariffs. The reason the topic is still being broadly discussed is because, despite the arbitrage collapsing from its heights above $2500/t it is still relatively broad. This morning the arbitrage sat […]
> South Korea’s battery industry is one of the most developed and globally integrated ecosystems in the world. Yet beneath the surface of its technical leadership lies a sense of caution: competition from China is intensifying, margins are thin, and chemistry choices are shifting rapidly. A recent visit by Benchmark’s Lithium Product Director, Cameron Perks – […]
> BHP’s bid to take over Anglo American for $49 billion collapsed after weeks of negotiations on Wednesday. The bid was the largest in the commodity sector’s recent history. Anglo declined to extend the 29 May deadline to allow BHP more time to make a further offer, after having already extended the deadline from a week […]
> The copper market recorded robust supply-side performance in Q2 25, with the top 25 mining companies reporting a combined output of 3,800kt, an increase of 3.5% y-o-y. Growth was driven by stronger quarterly performances from BHP (516.2kt, +2.2% y-o-y), Codelco (338kt, +18.6% y-o-y), and Zijin Mining (279.3kt, +9.1% y-o-y). BHP, Freeport, and Codelco retained market-leading […]
> US President Trump and Australian Prime Minister Anthony Albanese have signed a landmark Critical Minerals Framework to bolster both nations’ access to rare earths and other critical minerals, in an effort to counter China’s dominance over strategically important supply chains. The framework indicates that the two governments will utilise a range of policy instruments to […]
> South Korean steel and chemicals giant POSCO has taken a 30% stake in Australia’s Mineral Resources’ (MinRes) 50% stakes in the Mt Marion and Wodgina mines for US$765 million. Structured as a joint venture, the deal would see MinRes and POSCO hold an overall 35% and 15% of the operations, as well as corresponding rights […]
> Tesla has agreed to buy nickel from Talon Metals’ mine in Minnesota, in its first deal to secure supplies of US metal for its batteries. The automaker said the project, which is due to produce nickel in 2026, had the “promise to accelerate the production of sustainable energy products in North America.” The deal comes […]