BASE METALS

Vale restarts Salobo copper mine after fire

Still investigating causes of fire

Staff reporter
 Vale has restarted its Salobo copper mine in Brazil

Vale has restarted its Salobo copper mine in Brazil

Processing plant operations resumed on Friday and the ramp-up of copper concentrates production was expected today, Vale said.

It was still investigating the causes of the fire which had partially affected the conveyor.

Salobo had produced 172,700t of copper concentrate last year, and 38,000t of Vale's 69,200t for the September quarter.

Vale estimated an impact of about 8,000t on production, which it said was already incorporated into production estimates for the fourth quarter.

It had last week trimmed full-year copper production guidance from 360,000-380,000 to 295,000-300,000t due to issues including the Salobo fire and an earlier strike at Sudbury in Canada.

Copper supply constraints saw the spot price reach a record high of US$11,299.50/t on the London Metal Exchange last week.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.