This Morning in Metals: Colombia Aims to Enter the Copper Market
This morning in metals news, Colombia could look to make itself a factor in the copper market, Aus Tin announced that it had begun the first phase of its Taronga tin project and Rio Tinto announced its Q2 2019 production results.
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Colombia and Copper
The head of Colombia’s national mining agency said the country is looking to become a bigger producer of copper in the near future, Reuters reported.
Silvana Habib, president of the Colombia Mining Agency, said she wants to see Colombia in the “ranking of copper-producing countries in the short and medium term,” according to the report.
Aus Tin Kicks Off Taronga
Aus Tin recently commenced the first stage of its Taronga project in New South Wales, Australia, according to the International Tin Association.
According to the ITA, production expectations over the nine-year life of the mine come in at 2,800 tons of tin per year.
Rio Unveils Q2 Production Results
Rio Tinto posted Pilbara iron ore shipments of 85.4 million tons in Q2, up 24% from Q1 but down 3% on a year-over-year basis.
Meanwhile, iron ore production reached 79.7 million tons, up 5% from the previous quarter but down 7% on a year-over-year basis.
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“We saw a challenging operational performance across our portfolio in the first half, while also investing in future growth at Richards Bay Minerals and Resolution,” Rio Tinto CEO J-S Jacques said in a release. “Whilst we experienced operational and weather issues at our iron ore operations in Australia, pricing and market demand has remained robust.”
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