In a report released on October 17, Matt Murphy from Jefferies maintained a Buy rating on Ero Copper (ERO), with a price target of C$34.00. The company’s shares closed last Friday at $19.66.
According to TipRanks, Murphy is a 5-star analyst with an average return of 16.2% and a 73.46% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Newmont Mining, Lundin Gold, and Ero Copper.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ero Copper with a $24.93 average price target, which is a 26.81% upside from current levels. In a report released on October 16, Canaccord Genuity also maintained a Buy rating on the stock with a C$35.00 price target.
Based on Ero Copper’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $117.09 million and a GAAP net loss of $53.25 million. In comparison, last year the company earned a revenue of $104.93 million and had a GAAP net loss of $11.46 million
Ero Copper (ERO) Company Description:
Ero Copper Corp. engages in the exploration, development, and mining of mineral properties in Brazil. It also produces and sells copper, gold, silver products, The company was founded on May 16, 2016 and is headquartered in Vancouver, Canada.
LIMA, Oct 18 (Reuters) – Peru’s massive Chancay port, which authorities hope will become a major shipping hub for South America-Asia trade, will ship two container ships a week beginning late next month, an executive for port operator Cosco Shipping said on Friday.
After the port’s inauguration in mid-November, it will initially cover a direct route to Shanghai and then may ship to other points in the Asian market, depending on demand, said Carlos Tejada, general manager of Hong Kong-based Cosco’s local subsidiary, Cosco Shipping Chancay Peru.
“At the end of November, we will begin the stage known as ‘test conditioning,’ which we expect to run until May. However, during this soft launch phase, we can already handle actual cargo, with two direct vessels per week,” the executive told reporters following a Peruvian-Chinese business forum.
Tejada said that cabotage routes will be opened with smaller ships from Colombia, Ecuador and Chile, whose cargo will later be shipped to Asia from Chancay, initially in ships carrying up to 14,000 containers, which will then be progressively increased to larger vessels holding up to 24,000 containers.
Cosco Shipping Ports owns and will operate the port with a 60% stake, with the remaining 40% held by Peruvian miner Volcan, which is controlled by Glencore.
(Reporting by Marco Aquino; Writing by Brendan O’Boyle; Editing by Adam Jourdan, Reuters)
https://gcaptain.com/new-china-backed-megaport-set-to-transform-south-american-trade/
North Korea's top diplomat has criticized a new multilateral sanctions monitoring team led by the United States as "unlawful and illegitimate" and warned the participating countries will "pay a dear price," state media reported Sunday.
North Korea's Foreign Minister Choi Sun-hui issued a statement condemning the sanctions regime after South Korea, the US, and Japan on Thursday announced the launch of the monitoring mechanism with eight other countries, following Russia's veto that ended a UN monitoring panel's mandate in April.
The other countries are France, Britain, Germany, Italy, the Netherlands, Canada, Australia, and New Zealand.
Choi said the monitoring team is "unlawful and illegitimate" and constitutes "a denial of the UN Charter," according to the English-language statement carried by the Korean Central News Agency.
"The forces involved in the smear campaign against the DPRK will have to pay a dear price for it," Choi said, referring to North Korea's official name, the Democratic People's Republic of Korea.
Choi also criticized the US for pursuing its "hegemonic interests" and warned of "inevitable reactions" in response to what she described as a violation of North Korea's sovereignty.
The monitoring team is expected to monitor and report violations of UN sanctions, which are designed to prevent Pyongyang from advancing its nuclear and missile programs.
North Korea has been accused of evading these sanctions through methods such as ship-to-ship transfers, with alleged support from countries like China and Russia. (Yonhap)
Kim Dong-sub, the head of Korea National Oil Corp., speaks during a briefing held in the central city of Sejong in this file photo taken on June 19. (Newsis)
South Korea's state-run oil developer has selected US-based Schlumberger as a service provider to analyze the rock and gas composition of a potential gas field in the East Sea, a document showed Sunday.
Schlumberger will conduct the "mud logging" operation for an excavation project in the East Sea that could potentially uncover between 3.5 billion and 14 billion barrels of gas and oil, according to Rep. Kim Won-i of the main opposition Democratic Party, who cited data from Korea National Oil Corp.
If confirmed, the quantity would be sufficient to meet the country's gas demand for up to 29 years and its oil demand for four years.
A mud logging operation focuses on evaluating geological formations by measuring and analyzing the quantity and composition of gas present in the drilling mud extracted from potential sites.
Schlumberger plans to secure the necessary geological data through measures including hydrocarbon testing and gas composition analysis.
The country aims to carry out the first drilling operation in December.
The state-run oil company earlier said it has found seven potential locations for oil and gas reserves, with an estimated success rate of around 20 percent, meaning 1 out of every 5 holes drilled would be successful.
Costs, meanwhile, have been one of the major hurdles for the development project, as drilling a single hole is estimated to cost around 100 billion won ($73 million) to 130 billion won. (Yonhap)
ExxonMobil has confirmed that it is seeking buyers for a portion of its assets in the Bakken unconventional play in North Dakota.
This comes after a recent wave of mergers and acquisitions (M&A) activity, which saw a number of major players consolidate their shale positions. ExxonMobil was among these companies, buying Pioneer Natural Resources for $59.5bn to more than double its Permian Basin footprint. In many cases, though, both recent and older acquisitions came with assets that the buyers consider to be non-core, and which they are now trying to offload.
" ExxonMobil is exploring market interest for select assets in the Bakken shale play, which includes approximately 137 operated wells and 676 non-operated and royalty wells across 49,000 net acres [198 square km] in North Dakota ", an ExxonMobil spokesperson told Reuters in response to questions.
Two sources that had been briefed on the matter but are not authorised to speak publicly told the news service that the planned sale could fetch upwards of $500mn . They said a sale would be in line with ExxonMobil's plans to focus on assets with the highest growth potential following the acquisition of Pioneer.
This was echoed by the ExxonMobil spokesperson, who said the decision to sell the assets aligned with the company’s strategy to continually evaluate its portfolio. ExxonMobil declined to comment on the valuation, noting that it was a corporate practice not to share such information.
According to the anonymous sources, a large portion of the land on sale is undeveloped, which Reuters said could make it attractive to potential buyers, both in terms of building scale and in terms of the potential to boost output through future drilling.
ExxonMobil is one of the top producers in the Bakken, which remains the third largest oil-producing region in the US despite its relative maturity compared with other unconventional plays. Data from Rextag, Hart Energy’s energy infrastructure intelligence unit, show that ExxonMobil’s total Bakken production is over 100,000 barrels of oil equivalent per day (boepd).
Despite the sale, ExxonMobil has said it will continue to invest in shale production in North Dakota as part of its long-term strategy.
Emissions from flaring during upstream oil and gas operations are on the rise, jumping by 7% from 2022 to 2023, according to new figures released by Rystad Energy this week.
While nonroutine flaring is necessary for certain safety and operational procedures, Rystad emphasized that curbing routine flaring would significantly advance the industry's efforts to reduce its emissions footprint.
The market research firm said the global upstream sector is responsible for approximately 1 billion metric tons of CO 2 emissions annually, with flaring accounting for about 30% of the total. The estimate translates to an average of nearly 140 Bcm of gas flared globally each year over the past decade.
“Flaring reduction is considered a low-hanging fruit for oil and gas companies trying to reduce their carbon footprint. However, this recent uptick underscores the challenges facing the industry, particularly in key producing countries such as Russia, Iran, and Iraq,” the Rystad report stated.
Rystad's analysis, supported by satellite data and global inventory estimates, revealed that the Middle East, Africa, and Russia accounted for nearly 70% of global flaring volumes in 2023.
Countries in the Middle East flared a combined 45 Bcm of natural gas last year, a 7% increase from 2022. Russia led individual countries with 28 Bcm flared in 2023, marking a 12% year-over-year increase.
Iran, the US, and Libya also showed notable increases, with each country recording a 10% rise in flaring. Rystad said the US made the list due to pipeline bottlenecks in the Permian Basin, which have driven gas prices down in recent months, contributing to increased flaring.
With flaring a central issue between the industry and public stakeholders, the recent increase is seen as “a step in the wrong direction from a climate perspective,” said Magnus Kjemphol Lohne, a senior vice president of energy systems research for Rystad.
The report also highlighted flaring intensity, measured by the amount of CO 2 emitted per BOE, as a key indicator of flaring efficiency.
https://jpt.spe.org/report-warns-7-rise-in-global-flaring-emissions-is-a-step-in-the-wrong-direction
This was reported by the Financial Times.
Lawmakers have called on the Treasury and State Departments to clarify if they approved transactions in which SLB, formerly Schlumberger, imported $17.5 million worth of equipment into Russia between August and December 2023.
SLB is the world's largest oil service provider.
The push from Congress follows an FT investigation in August, which revealed SLB was expanding operations in Russia, capitalizing on the exit of Western competitors despite international sanctions triggered by Russia’s invasion of Ukraine.
This U.S. company is directly fueling Putin’s war machine by helping finance the brutal invasion of Ukraine. The letter urges to step up sanctions on the oil sector to further restrict Putin’s revenue. It was signed by over 50 members of Congress, and addressed to Secretary of State Antony Blinken and Treasury Secretary Janet Yellen.
The Treasury, State Department, and SLB did not respond to requests for comment. However, the Treasury Department reiterated its commitment to using all tools to cut the Kremlin’s income.
Last year, Ukraine’s National Agency for Corruption Prevention added SLB to its list of "international sponsors of war."
On Friday, October 18, SLB reported a 13% increase in third-quarter profits.
SLB has been sanctioned by the U.S. before. In 2015, it pled guilty to federal charges and paid $232 million for violating trade laws with Iran and Sudan. In 2021, its subsidiary, Cameron International Corporation, settled with the Treasury for $1.4 million over apparent violations related to services provided to Russia’s Gazprom Neft Shelf on an Arctic oil project.
China Petrochemical Corporation (Sinopec Group), the country's largest oil refiner, has announced that its Shengli Oilfield, driven by technology breakthroughs, has set a new record for single-well daily shale oil production in China.
A total of 94 horizontal shale oil wells have been built in the 7,300-square-km Jiyang shale oil national demonstration zone owned by the Shengli Oilfield in east China's Shandong Province since it was established two years ago, among which 36 wells have achieved peak daily oil production exceeding 100 tonnes, with a maximum of 262.8 tonnes for a single well, the Science and Technology Daily reported on Sunday.
The achievements were made with the driving force of technology innovations, according to the Sinopec Shengli Oilfield.
Shale oil mainly refers to liquid hydrocarbons trapped in formations of shale rock that can be extracted for refining. It is often found in organic-rich shale and thin interlayers of carbonate rocks, sandstones, and siltstones.
China has abundant shale oil resources, but they are mainly continental shale oil, making exploration and production difficult.
Compared with the shale oil reserves in North America, those in Jiyang are buried deeper, somewhere between 3,000 and 5,500 meters, and have lower maturity, posing a series of challenges to exploration and development.
The technology innovation team of the Shengli Oilfield overcame difficulties in exploration such as high temperature, high pressure, and simultaneous seepage in shale oil reservoirs.
They have developed a fast drilling technology centered on synthetic-based drilling fluid systems, enabling efficient drilling of horizontal wells with depths exceeding 3,300 meters and horizontal sections longer than 2,000 meters, thus reducing the drilling cycle from 133 days to 29.5 days.
"We have successively deployed a number of systematic coring wells. Based on the study of core shale samples buried tens of thousands of meters deep, we have conducted 150,000 indoor experiments, and made breakthroughs in more than 40 national and provincial-level research projects, uncovering the enrichment mechanisms of Jiyang shale oil and initially clarifying the patterns of shale oil accumulation and high production in Jiyang," said Jiao Hongyan, manager of the Shale Oil Project Department at Sinopec Shengli Oilfield.
It is estimated that the shale oil resources in Jiyang amount to 10.5 billion tonnes. The Jiyang demonstration zone, the third of its kind in China following the ones in northwest China's Xinjiang and Daqing in the northeast, has reported a daily oil production of 1,600 tonnes and a cumulative oil production surpassing 800,000 tonnes.
The article on tribal concerns about the proposed wind farm off the Oregon coast deserved its placement on the front page, reflecting the importance of these issues, (“Tribes slow Oregon’s offshore wind plans to ask ‘the big questions’ on cultural, environmental impacts,” Oct. 6).
I find it increasingly frustrating that, in the wish to reduce greenhouse emissions, focus seems always to be on environmentally impactful technological infrastructure, including wind and solar power. Nobody seems to want to consider reductions in energy usage. All that is ever mentioned is how we should increase energy efficiency, which is a wimpy, nibble-the-edges solution. In fact, due to the well-known economic phenomenon called Jevon’s Paradox, or the rebound effect, efficiency gains are often at best ineffective, and can actually lead to increases in resource use. Would it be any more audacious to suggest significant reductions in energy usage, thereby automatically reducing greenhouse emissions, than it is to build more technological infrastructure?
사진 확대
While the general trading industry is struggling to improve profitability due to the stagnation of the traditional trading sector, it is turning to eco-friendly energy to develop new food.
According to the general trading industry on the 20th, major companies such as Samsung C&T, Hyundai Corporation, POSCO International, and LX International are diversifying their businesses by growing renewable energy such as solar power, offshore wind power, and biomass into new cash cow.
Samsung C&T is seeking to establish a local subsidiary to advance into the solar energy business in Germany. In 2018, Samsung C&T successfully completed a wind and solar complex in Ontario, Canada. Based on this experience, it is currently earning profits as a model for selling the entire project before construction or selling the business rights on behalf of development services after obtaining permission to develop solar projects in the United States and Australia. The solar power pipeline (project to be developed) secured by Samsung C&T plans to maintain 20 GW (gigawatts) as of the end of this year. Hyundai Corporation operates solar power businesses in Korea and Japan. In Korea, 4.9 MW (megawatts) of power is produced through the operation of a total of seven solar power plants, and in Japan, a total of six power plants are operated, producing about 4.3 MW of power.
Hyundai Corporation is also looking to advance into the recycling sector, where rare metals are recovered from solar waste modules. POSCO International will install about 20 wind turbines in the sea near Sinan-gun, Jeollanam-do by 2030 to develop a 300MW offshore wind farm. LX International is also strengthening its portfolio of renewable energy businesses such as hydropower and biomass. LX International operates a riverbed hydroelectric power plant in Indonesia.
[Reporter Jeong Ji Sung]
KABUL, Oct. 20 (Xinhua) -- The Afghan caretaker government's acting Minister of Energy and Water Abdul Latif Mansoor has said that his war-torn country has access to 900 Megawatts of electricity and that efforts are underway to increase its capacity to 1,000 Megawatts, the state-run Bakhtar news agency reported Saturday.
According to the state-run media outlet, the official made the remarks in his speech at the inauguration ceremony of a 10-megawatt solar energy project in Naglo district, 60 km east of Kabul, on Saturday.
According to official sources, Afghanistan produces around 300 Megawatts of power from domestic sources and imports 620 Megawatts annually from the neighboring countries of Uzbekistan, Tajikistan, Iran, and Turkmenistan.
To overcome the power shortage, the administration has been working on solar panels and gas-generating power, and building water dams in several provinces.
Power shortages and load shedding are everywhere in Afghanistan, including the capital city of Kabul. Residents of the capital city have been regularly suffering from power shortages for eight to 10 hours out of 24 hours a day.
The Afghan administration laid the foundation stone of a 22.75 Megawatt solar generating energy outside Kabul a couple of weeks ago. With the support of the private sector at 18.2 million U.S. dollars, the project would be completed in 10 months.
https://english.news.cn/asiapacific/20241020/0bb886e71db54e509f48ae7158991291/c.html
The farmer is in crisis, and food quality too, says Nityananda Dhal, Lead of the Centre of Excellence for Sustainable Agriculture at PRADAN, in conversation with businessline’s Subramani Ra Mancombu, discussing the benefits of regenerative agriculture.
In this State of the Economy podcast, businessline’s Subramani Ra Mancombu talks to Nityananda Dhal, The Lead, Centre of Excellence - Sustainable Agriculture, PRADAN, about the urgent need for transformative agricultural practices, particularly regenerative agriculture, which aims to heal our planet’s ecosystems while enhancing farmers’ livelihoods. The episode discusses the principles and benefits of regenerative agriculture, emphasising the importance of nurturing soil health, maximising biodiversity, and minimising environmental impact. The discussion goes onto talk about how regenerative agriculture not only restores the land but also empowers farming communities, particularly women, to play an integral role in decision-making processes. Dhal shares groundbreaking survey results revealing that a significant majority of farmers adopting regenerative practices have experienced improved productivity and income within a short time frame. The episode highlights the unique challenges and opportunities faced by tribal communities in India, where traditional knowledge and sustainable practices align closely with the ethos of regenerative agriculture. Dhal explains how these communities, rich in biodiversity and local resources, can lead the way in adopting innovative farming methods that respect the land and its natural systems. Dhal calls for a collective effort to redefine agricultural success, emphasising the need for healthy food, sustainable livelihoods, and the restoration of ecosystems.
Host: Subramani Ra Mancombu; Producer: Amitha Rajkumar.
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders.
By Our Reporter
SHILLONG, Oct 19: As part of its project, ‘Promoting Scientific Organic Cultivation in Northeast India’, NECTAR distributed smartphones to farmers from various districts of Meghalaya.
According to a statement, the project, sanctioned by the Ministry of DoNER under the PMDevINE scheme, aims to create 250 organic-certified clusters across the Northeast.
In Meghalaya, the initiative includes establishing 55 farm labs across all districts in collaboration with Meghalaya State Rural Livelihoods Society (MSRLS) and the Bio Resources Development Centre (BRDC).
“55 lead farmers were earlier trained as master trainers by BRDC who will manage the demo farm labs and train 100 farmers in the respective clusters for organic farming,” the statement said.
In a bid to support digital agriculture and the management of information systems, smartphones were distributed to the master trainers during a programme at NECTAR’s Shillong Office on Friday.
During the programme, Director of ICAR-ATARI, Dr. AK Mohanty, emphasised reducing the use of chemical fertilisers for long-term agricultural benefits.
He also stressed the importance of bio-stimulant and bio-control startups with rigorous lab and field trials.
The programme also saw farmers engaged in one-on-one interactions with scientists, including Prof. Pranab Dutta from CPGS-CAU, Umiam, who shared his expertise in organic farming in Meghalaya and discussed local solutions for local challenges.
On the other hand, NECTAR Director General, Dr. Arun K. Sarma, expressed concern over inefficient market linkages between farmers and consumers and assured that the project would address this issue, benefiting 25,000 farmers across the Northeast.
What Is Barite?
Barite, a mineral composed of barium sulphate, plays a crucial role in various industries. Its name derives from the Greek word 'barys', meaning heavy, which describes its high specific gravity. Barite's unique properties make it indispensable in many applications, from oil drilling to medical imaging.
Barite mining methods vary depending on the deposit type. Open-pit mining is common for near-surface deposits, while underground methods are employed for deeper veins. The extraction process typically involves drilling, blasting, and hauling the ore to processing facilities.
John Smith, Chief Mining Engineer at Global Barite Corp, describes the process: "Once extracted, we crush and grind the ore, then use gravity separation techniques to concentrate the barite. The final product is often further processed to meet specific industry standards".
What Are Barite’s Unique Properties?
Barite's most notable characteristic is its high density, typically ranging from 4.3 to 4.6 g/cm³. This property, combined with its chemical inertness and low solubility, makes it ideal for use in drilling fluids. Barite's ability to withstand high pressures and temperatures is what makes it so valuable in the oil and gas industry.
Top Barite-producing countries
China has long been the world's leading barite producer, followed by India and Morocco. However, recent years have seen shifts in the global production landscape. The US Geological Survey reports that China's share of global barite production has decreased from about 44% in 2012 to 36% in 2022, while countries like Morocco and Kazakhstan have increased their output".
Industrial applications of Barite
Barite's primary use is in the oil and gas industry as a weighting agent in drilling fluids. This application accounts for approximately 80% of global barite consumption. However, its uses extend far beyond drilling.
Professor Amanda Lee, Chemical Engineering expert at MIT, elaborates: "Barite is crucial in industries ranging from automotive to medicine. It's used in brake linings, as a filler in paints and plastics, and even in medical imaging as a contrast medium for X-ray examinations".
When it comes to investments, only two or three names come to people’s minds. Currently UP, Gujarat or Mumbai. But this time the name that has come out is really shocking. This state has a lottery in its hands that is not just worth a few billion rupees, but more than a lakh rupees. Yes, the name of this state is Rajasthan. Where Vedanta Group plans to invest. Vedanta Group will invest over Rs 1 lakh crore in various businesses including zinc and oil and gas in Rajasthan. We also tell you what information Vedanta Group has given.
In which sectors will there be investment?
Vedanta Group on Saturday said Hindustan Zinc is doubling its zinc production capacity from 12 lakh tonnes per annum to 20 lakh tonnes per annum, increasing its silver capacity from 800 tonnes to 2,000 tonnes and its fertilizer production capacity from 10 lakh tonnes per year. will invest Rs 30,000 million to set up the plant. Cairn Oil and Gas, a subsidiary of Vedanta Limited, will invest Rs 35,000 crore to increase capacity to three lakh barrels per day. Cerantica Renewables, a unit of Vedanta Group, will invest Rs 50,000 crore to develop 10,000 MW of renewable energy capacity to assist in energy conversion and ensure highest environmental standards and green manufacturing, the company said in a statement.
Jobs for more than two lakh people
Vedanta also announced setting up of an industrial park at a cost of over Rs 5 crore for small and medium non-profit industries in Udaipur area. Vedanta participated in the Rising Rajasthan Roadshow in the United Kingdom, led by Rajasthan Chief Minister Bhajan Lal Sharma and a delegation of state ministers. The statement said the Chief Minister met Vedanta Chairman Anil Agarwal and discussed the group’s investment of over Rs 1 lakh crore in zinc, oil and gas and renewable energy. This will help create over two lakh jobs, develop over 500 marketing industries in various sectors and support import substitution.
I have invested so much
Agarwal said Rajasthan is one of the few states where, apart from hydrocarbons, important minerals like zinc, lead, silver, gold, copper, potash, phosphate rock, marble and various types of high-quality stones are found in abundance. Vedanta has so far invested more than Rs 1.5 lakh crore in Rajasthan. Its two main companies, Hindustan Zinc Limited and Cairn Oil & Gas, have their largest operations in the state.
JAKARTA- Indonesia aims to manage nickel ore supply and demand to support prices, its mining minister said on Friday, amid reports of delays in the quota approval process forcing some smelters to import ores from the Philippines.
Indonesia, a major producer of nickel ore, has from this year changed the validity of its mining quota document, known as RKAB, to three years from one year, although it will determine mining volumes for each year.
“The state must be present to maintain supply and demand. If the supply is ample while demand is low, the price will drop,” mining minister BahlilLahadalia told reporters on Friday.
Bahlil said prices and demand from smelters would be used as parameters to calculate the market balance. He declined to give a price target, but said the government’s monthly mineral reference price could be used as a guide.
“We will fix the reference price so that it will be proportionate between the industrial products and raw materials, so that maximum profits are not only obtained by the industry, but also by miners,” he said.
He also said the mining quota should not be concentrated among big players so business at smaller local miners can grow.
“We hope the industries also procure ores from miners who do not have smelters,” he said.
Bahlil’s term as energy minister in President Joko Widodo’s government is due to end in two days, however he has been asked to join the next government by incoming president Prabowo Subianto, who will be sworn in on Sunday.
Bahlil did not comment on his position in the new cabinet, but mentioned he discussed natural resources management and energy security with the president-elect.
https://malaya.com.ph/indonesia-aims-to-manage-nickel-supply-to-support-prices/
ASTANA – The tribes of the Andronovo culture living on the territory of modern Kazakhstan reached a high level in metallurgy and crafts in the Bronze Age, said Kazakh archaeologist and Andronovo culture specialist Emma Usmanova during a lecture in Karagandy, organized by Qalam Global multimedia project.
The Andronovo culture from the 2nd millennium B.C.E has spread over a large territory from the Southern Urals to Western Siberia and Tajikistan, with its center located on the territory of Kazakhstan. They were skilled metallurgists who developed deposits of copper, tin, and other metals.
Taldysai settlement in the Karagandy Region became an important center of metallurgical production. Copper mining and ore smelting were established here, which made the region a key supplier of bronze products for many regions of the Eurasian continent.
“Kazakhstan in the Bronze Age became a real forge for the ancient peoples of Eurasia. Oxidized ores such as malachite and cuprite became the basis for the production of bronze products, which changed the course of history,” said Usmanova.
In the Andronovo culture, metallurgy was regarded as more than a craft—it was a sacred gift. Miners and metallurgists held high social status, as their work formed the foundation of the region’s economic and cultural development. Blacksmiths were especially significant, crafting tools and weapons while also fulfilling important ritual roles in society.
“The miner and metallurgist were the creators of the age, who, working with metal, created the basis for the whole civilization. Their labor was sacred, connected with fire and spirits,” said Usmanova.
One of the most significant achievements of the Andronovo culture was the shaft furnaces used to smelt sulfide ores. These technologies made it possible to produce high-quality bronze, which gave a major boost to trade and exports.
“The shaft furnaces used by the Andronovians were a real technological breakthrough of their time. These furnaces allowed the smelting of ore at a whole new level of quality, which greatly accelerated the bronze production process,” she said.
Metal products produced in Kazakhstan were exported to various parts of Central Asia, and even to the territory of modern Ukraine – a testament to the highly developed trade relations of the Andronovo culture with other peoples.
“Metallurgy gave a powerful impetus to the development of international trade. Bronze products made in Kazakhstan traveled great distances,” said Usmanova.
Alongside metallurgy, the Andronovo culture saw the development of other essential crafts, such as weapon-making, pottery, and weaving.
https://astanatimes.com/2024/10/bronze-age-kazakhstan-was-center-of-metallurgy-archeologist-says/
YINGTAN, China, Oct. 19, 2024 /PRNewswire/ -- A news release from Jiangxi International Communication Center(JXICC): In the industrial area of Jiangxi, Yingtan City in the northeast is a key player. It is a city closely related to copper and renowned as the "Copper Capital of the World". What makes Yingtan so different? Let's join Fahad, the Overseas Communication Officer, to find out.
Walking along Cibinong Old Street, you are enveloped in a rich copper culture. You can truly grasp the artistry of copper appreciate it, and carry on the tradition of the copper culture.
Wow Jiangxi | Decode the Copper Capital
In recent years, Jiangxi has vigorously implemented the "1269" Action Plan for modernizing pivotal manufacturing industrial chains. The Yingtan High-Tech Zone has demonstrated a strong drive in the development of the copper industry, not only expanding its scale in copper smelting and processing, but also strategically laying the groundwork for the digital transformation of the copper industry, accelerating its high-quality development.
Copper, an ancient and precious metal is reviving new vitality and vigor in Yingtan. It forms a close bond with Jiangxi's economic progress and injects a robust momentum into high-quality development.
