Get started

Newmont ‘ramps down’ Yanacocha mine while Peru restricts travel

Newmont will "ramp down" mining at its Yanacocha asset in Peru after the country moved to restrict travel amid global contagion over the Covid-19 coronavirus (2019-nCoV) spread, it said.

March 17, 2020
By Generic people page
Base metals Copper

Gold production from leeching will continue but mining ore will cease, the company said. Yanacocha produces significant amounts of copper, zinc and lead concentrates as a byproduct of gold mining.

“As the situation is dynamic and the duration of these restrictions are uncertain, we are currently unable to determine the ultimate impact on Yanacocha’s production and costs for 2020,” the company said.

The mine has reserves of 335,658 tonnes of copper as of December 31, 2019, Newmont’s annual financial report shows.

Zinc treatment charges – paid to smelters for the costs of turning concentrate to metal – have showed signs of dropping while arbitrage-related demand from China pushed spot deals below the $300-per-tonne mark.

Fastmarkets’ zinc spot concentrate TC, cif China was assessed at $280-315 per tonne on February 28, adjusted from $285-310 per tonne on January 31.

What to read next
Architecture, Building, House
BHP results: 10 things the copper concentrates market needs to know
BHP reported lower FY27 copper guidance, sanctioned two Spence processing projects, disclosed a disruption at Carrapateena and highlighted progress on an Olympic Dam smelter expansion in its July 16 results package.
July 17, 2026
 · 
By Julienne Raboca
Mining, Boat, Transportation
Hartree to take first 330,000 tonnes of Nussir copper concentrate under Blue Moon offtake
New York-headquartered global commodities company Hartree Partners will take the first 330,000 tonnes of copper concentrate from Blue Moon Metals' Nussir project in Norway, Christian Kargl-Simard, the critical metals developer's chief executive officer, told Fastmarkets on Monday July 6.
July 7, 2026
 · 
By Julienne Raboca
Lighting, Stage, Texture
US copper build-up intensifies on tariff risk: Hotter Commodities
Half a million tonnes of copper is sitting in US warehouses, and the traders who put it there are starting to wonder whether they’ve built a hedge, or a trap.
June 8, 2026
 · 
By Andrea Hotter
Architecture, Building, Factory
Why European automotive procurement needs granular market intelligence 
European automotive procurement faces growing complexity due to regional cost volatility and policy-driven supply chains reshaping material pricing and sourcing strategies. This demands granular, region-specific market intelligence for precise cost modeling and strategic decision-making.
June 3, 2026
 · 
By the Fastmarkets team
Fastmarkets proposes to amend holiday pricing schedule for aluminium P1020A, FOB Indonesia premium assessment: pricing notice
The assessment, which currently follows the UK holiday calendar, will follow the Singapore holiday calendar after the proposed change. There will be no change to the publication timing, and the assessment will continue to be published weekly on Wednesdays, at 7pm Singapore time. The purpose of the adjustment is to align the timing to the […]
June 2, 2026
 · 
By Fastmarkets pricing team
Architecture, Building, House
Japan’s PPC integration deal finalized as copper concentrate squeeze deepens
JX Advanced Metals, Mitsui Kinzoku, Marubeni and Mitsubishi Materials(MMC) inked a deal to integrate MMC's copper concentrate procurement and related products sales business into Pan Pacific Copper (PPC), marking a significant consolidation of Japan's copper concentrate purchasing sector amid persistent pressure from weak treatment and refining charges (TC/RCs).
June 1, 2026
 · 
By Eva Qi