{"id":1112911,"date":"2019-04-26T13:00:21","date_gmt":"2019-04-26T13:00:21","guid":{"rendered":"http:\/\/www.mining.com\/?p=984543"},"modified":"2019-04-26T13:00:21","modified_gmt":"2019-04-26T13:00:21","slug":"australian-junior-aurelia-goes-after-glencores-copper-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1112911","title":{"rendered":"Australian junior Aurelia goes after Glencore\u2019s copper mine"},"content":{"rendered":"

Australian exploration and development\u00a0Aurelia Metals (ASX:AMI) said on Friday<\/a> it has begun discussions with miner and commodities trader Glencore (LON: GLEN), which it hoped would lead to the acquisition of the Swiss company\u2019s CSA copper mine.<\/p>\n

\u201cThe company\u2019s high-level assessment is that CSA mine could potentially be a strategic fit for the company, consistent with our general view that further consolidation in the Cobar is potentially attractive,\u201d Aurelia said in a statement.<\/p>\n

The underground CSA mine, located in the state of New South Wales, produced 48,000 tonnes of copper concentrate last year. It has a productive life of five years and ore reserves to last around ten, according to Glencore\u2019s reserves and resources report.<\/p>\n

The underground CSA copper mine, located in the state of New South Wales, produced 48,000 tonnes of copper concentrate last year.<\/q><\/p>\n

Aurelia, which is developing the nearby Hera-Nymagee project in western New South Wales, is not the only company that has expressed interest in CSA.<\/p>\n

Last month, fellow copper junior Aeris Resources (ASX:AIS) offered Glencore $575 million<\/a> for the operation, but the parties were unable to reach an agreement.<\/p>\n

News of the talks between Aurelia and Glencore comes at a time when companies are scrambling to grab copper assets amid expectations that bigger power grids around the world and an electric-vehicle boom will boost demand, while supplies will remain constrained<\/a>.<\/p>\n

However, industry analysts at CRU say the coming online of major projects \u2014 Anglo\u2019s\u00a0Quellaveco<\/a>\u00a0(2022), Teck\u2019s\u00a0Quebrada Blanca expansion<\/a>\u00a0(2021) and\u00a0First Quantum\u2019s Cobre Panama<\/a> (already in production) will momentarily eliminate the gap between supply and demand.<\/p>\n

The research group, in fact, has cut its forecast deficit and now expects the market will be in a small surplus this year and next, but short again by 250,000 tonnes by 2023.<\/p>\n

The post Australian junior Aurelia goes after Glencore\u2019s copper mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Aurelia Metals is in talks with the Swiss miner and commodity trader about a possible acquisition of CSA underground mine, which produced 48,000 tonnes of copper concentrate last year.<\/p>\n

The post Australian junior Aurelia goes after Glencore’s copper mine<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2479,2480,2481,678,404,369],"tags":[15,33],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112911"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1112911"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112911\/revisions"}],"predecessor-version":[{"id":1112976,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1112911\/revisions\/1112976"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1112911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1112911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1112911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}