Landslide Halts Part of El Teniente, Copper Nears a Record, and Uranium's Contract Price Tops 2007

A landslide killed two workers and partly halted Codelco's El Teniente. Copper hit a two-week high near US$14,688 a tonne as Chile risks stack up. Escondida's mediation clock and Centinela's talks reach decision points. The long-term uranium price passed its 2007 peak. Arafura lifted its binding NdPr offtake 70% to 850 tonnes a year.

Show Notes

Landslide Kills Two Workers and Partly Halts Codelco's El Teniente: First, Chile, where another fatal accident has hit the copper sector. Reuters reports Codelco partially suspended operations at El Teniente on Sunday after a landslide killed two workers and left one rescued, according to SERNAGEOMIN, the mining regulator. Shortly before 2 p.m. local time, the slide struck three workers employed by the contractor Aura Ingeniería as they inspected the mine's south pit sector. Copper Reaches a Two-Week High as Chile Risks Stack Up: Next, copper, which kept climbing on Tuesday. Mining.com.au reports London benchmark copper rose as much as 1 percent to 14,688 dollars a tonne, the highest since September 25. Reuters had three-month copper at 14,636 dollars and 50 cents at 0915 GMT, a third straight session of gains and close to the record of 14,875 dollars set last month. Escondida Mediation Clock Ticks as Centinela Talks Resume: Meanwhile, two Chilean disputes hit decision points. First, Centinela. Voluntary mediation between Antofagasta Minerals and the Minera Esperanza and Distrito Centinela unions resumes this morning at 10 a.m. in Antofagasta, Shanghai Metals Market reports. The strike, now in its second week, involves 709 workers, about 22 percent of the direct workforce. The unions warn that if it continues into November, output that month could be halved, while Antofagasta says its full-year outlook is unchanged. Long-Term Uranium Price Tops Its 2007 Peak, but Shares Lag: Next, uranium, where the contract price has quietly set a record. Energy Metal News, a newsletter distributed through PR Newswire, reports the long-term uranium price ended September at 96 dollars and 50 cents a pound, above the 95-dollar peak reached in 2007, citing figures published by Cameco. Investing News also describes the long-term price as hitting a record of about 96 dollars in the third quarter. Arafura Lifts Its Binding NdPr Offtake 70% to 850 Tonnes a Year: Finally, rare earths, where Arafura Rare Earths has firmed up a larger offtake for its Nolans project in Australia's Northern Territory. Proactive reports a binding agreement with an unnamed major global trading company for 850 tonnes a year of neodymium-praseodymium oxide, up 70 percent from the 500 tonnes a year in a term sheet signed in May. Sources: - Reuters via Internazionale — Landslide Kills Two Workers and Partly Halts Codelco's El Teniente: https://www.internazionale.it/ultime-notizie-reuters/2026/10/12/chile-s-codelco-reports-mudslide-at-el-teniente-mine-three-workers-affected - The Rio Times (Cochilco data) — Landslide Kills Two Workers and Partly Halts Codelco's El Teniente: https://www.riotimesonline.com/chile-escondida-copper-output-august-2026/ - LME Insight — Landslide Kills Two Workers and Partly Halts Codelco's El Teniente: https://www.lmeinsight.com/the-lme-weekly-review-5-9-october-2026/ - Mining.com.au — Copper Reaches a Two-Week High as Chile Risks Stack Up: https://mining.com.au/copper-price-hits-two-week-high-on-chile-supply-risks/ - Reuters via Mining.com.au — Copper Reaches a Two-Week High as Chile Risks Stack Up: https://mining.com.au/copper-price-rises-amid-disruptions-zinc-and-aluminium-fall/ - Shanghai Metals Market — Escondida Mediation Clock Ticks as Centinela Talks Resume: https://news.metal.com/newscontent/104154740-mine-labour-negotiations-update-centinela-strike-enters-its-second-week-as-mediation-resumes - CNN Chile — Escondida Mediation Clock Ticks as Centinela Talks Resume: https://www.cnnchile.com/negocios/el-proceso-que-mantiene-en-vilo-a-escondida/ - teleSUR English — Escondida Mediation Clock Ticks as Centinela Talks Resume: https://www.telesurenglish.net/centinela-mine-strike/ - Energy Metal News (PR Newswire, citing Cameco) — Long-Term Uranium Price Tops Its 2007 Peak, but Shares Lag: https://www.centralcharts.com/en/news/5806290-long-term-uranium-price-moves-past-its-2007-peak-while-energy-metals-deals-keep-coming - Investing News Network — Long-Term Uranium Price Tops Its 2007 Peak, but Shares Lag: https://investingnews.com/category/daily/resource-investing/ - Proactive via Yahoo Finance — Arafura Lifts Its Binding NdPr Offtake 70% to 850 Tonnes a Year: https://ca.finance.yahoo.com/news/gina-rinehart-backed-arafura-rare-034300791.html - Rio Tinto (release schedule) — Tomorrow's Flashpoint: https://www.riotinto.com/ - Perplexity Finance (UBS expectation) — Tomorrow's Flashpoint: https://www.perplexity.ai/finance/RIO

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