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Pan African COO seriously injured after attack in failed robbery , says gold producer
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Orion Minerals consolidates its Northern Cape copper mines with new assets
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Copper soars on vaccination roll-out
By Dineo Faku
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JOHANNESBURG - COPPER prices are at decade-high levels as speedy vaccination roll-outs and hefty economic stimulus packages lift hopes for an economic recovery and higher demand for metals.
Benchmark copper on the London Metal Exchange was down at $9 758.20 (R139 805) a ton in official trading after reaching $9 965 on Tuesday, the highest since 2011 as port workers in Chile called for a strike a day earlier.
The price of copper, which is used in electric equipment such as wiring, has more than doubled since March 2020 as the world economy rebounds and the shift to greener, more copper intensive energy raises the prospect of supply shortages.
Is Orion Minerals the most attractive resources stock when discussing value?
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Orion Minerals plans to acquire the Okiep Copper Complex
Orion Minerals has announced a plan to acquire the Okiep Copper Complex (OCC) in the Northern Cape, in a deal worth approximately R85.5 million.
The Australia and JSE-listed firm said the complex has a potential to become a future second base metal production hub for the company in the Northern Cape alongside its flagship Prieska Copper-Zinc Project, which is the company is developing 450 kilometres east of OCC.
Orion will hold a 56.25% stake in Tantalum Mining with 43.75 % controlled by the Industrial Development Corporation (IDC). The company will take full ownership of the other two companies, Nababeep Copper Company and Bulletrap Copper Company.